Common use of Change of Control Flagging Costs Clause in Contracts

Change of Control Flagging Costs. Concurrently with the closing of an Assumption or any other change of Control of Borrower, Borrower shall post additional security with Lender in an amount equal to the portion of the Change of Control Flagging Costs required to be incurred by Borrower in the 24-month period immediately following the Assumption or such other change of Control of Borrower (for the avoidance of doubt, the remaining Change of Control Flagging Costs shall not be required to be reserved with Lender) without duplication of any amounts previously reserved pursuant to paragraph (ii) above or Section 6.6.1(a); provided, however, that upon written notice to Lender, Borrower may elect to fund all or any portion of the Change of Control Flagging Costs required to be posted under this paragraph (iii) by dedication of Future PIP Reserve Funds that were not previously dedicated by Borrower to other Flagging Costs. Any additional security required to be posted by Borrower pursuant to this paragraph (iii) shall be posted pursuant to paragraph (iv) below.

Change of Control Flagging Costs. Concurrently with the closing of an Assumption or any other change of Control of BorrowerOwner, Borrower shall cause Owner to post additional security with Mortgage Lender in an amount equal to the portion of the Change of Control Flagging Costs required to be incurred by Borrower Owner in the 24-month period immediately following the Assumption or such other change of Control of Borrower Owner (for the avoidance of doubt, the remaining Change of Control Flagging Costs shall not be required to be reserved with Lender) without duplication of any amounts previously reserved pursuant to paragraph (ii) above or Section 6.6.1(a); 6.6.1 (“a): provided, however, that upon written notice to Lender, Borrower may elect to cause Owner to fund all or any portion of the Change of Control Flagging Ragging Costs required to be posted under this paragraph (iii) by dedication of Future PIP Reserve Funds that were not previously dedicated by Borrower Owner to other Flagging Costs. Any additional security required to be posted by Borrower Owner pursuant to this paragraph (iii) shall be posted pursuant to paragraph (iv) below.

Change of Control Flagging Costs. Concurrently with the closing of an Assumption or any other change of Control of BorrowerOwner, Borrower shall cause Owner to post additional security with Mortgage Lender in an amount equal to the portion of the Change of Control Flagging Costs required to be incurred by Borrower Owner in the 24-month period immediately following the Assumption or such other change of Control of Borrower Owner (for the avoidance of doubt, the remaining Change of Control Flagging Costs shall not be required to be reserved with Lender) without duplication of any amounts previously reserved pursuant to paragraph (ii) above or Section 6.6.1(a); provided, however, that upon written notice to Lender, Borrower may elect to cause Owner to fund all or any portion of the Change of Control Flagging Costs required to be posted under this paragraph (iii) by dedication of Future PIP Reserve Funds that were not previously dedicated by Borrower Owner to other Flagging Costs. Any additional security required to be posted by Borrower Owner pursuant to this paragraph (iii) shall be posted pursuant to paragraph (iv) below.