BENEFICIARY REIMBURSEMENT. All payments made, or funds expended or advanced by Beneficiary pursuant to the provisions of any Loan Document, shall (1) become a part of the Secured Indebtedness, (2) bear interest at the Interest Rate (as defined in the Note) from the date such payments are made or funds expended or advanced, (3) become due and payable by Trustor upon demand by Beneficiary, and (4) bear interest at the Default Rate (as defined in the Note) from the date of such demand. Trustor shall reimburse Beneficiary within ten (10) days after receipt of written demand for such amounts.
Appears in 4 contracts
Samples: Security Agreement and Fixture Filing (Strategic Hotels & Resorts, Inc), Security Agreement and Fixture Filing (Maguire Properties Inc), Security Agreement and Fixture Filing (Strategic Hotels & Resorts, Inc)
BENEFICIARY REIMBURSEMENT. All payments made, or funds expended or advanced by Beneficiary pursuant to the provisions of any Loan Document, shall (1) become a part of the Secured Indebtedness, (2) bear interest at the Interest Rate (as defined in the Note) from the date such payments are made or funds expended or advanced, (3) become due and payable by Trustor Grantor upon demand by Beneficiary, and (4) bear interest at the Default Rate (as defined in the Note) from the date of such demand. Trustor Grantor shall reimburse Beneficiary within ten (10) days after receipt of written demand for such amounts.
Appears in 2 contracts
Samples: Security Agreement (Wells Real Estate Investment Trust Inc), Defined Terms (Wells Real Estate Investment Trust Inc)
BENEFICIARY REIMBURSEMENT. All payments made, or funds expended or ------------------------- advanced by Beneficiary pursuant to the provisions of any Loan Document, shall (1) become a part of the Secured Indebtedness, (2) bear interest at the Interest Rate (as defined in the Note) from the date such payments are made or funds expended or advanced, (3) become due and payable by Trustor Grantor upon demand by Beneficiary, and (4) bear interest at the Default Rate (as defined in the Note) from the date of such demand. Trustor Grantor shall reimburse Beneficiary within ten (10) days after receipt of written demand for such amounts.
Appears in 1 contract
