Common use of Completion of Capital Replacements Clause in Contracts

Completion of Capital Replacements. Lender’s disbursement of monies from the Replacement Reserve Fund or other acknowledgment of completion of any Capital Replacement in a manner satisfactory to Lender in Lender’s Discretion will not be deemed a certification by Lender that the Capital Replacement has been completed in accordance with applicable building, zoning or other codes, ordinances, statutes, laws, regulations or requirements of any Governmental Authority. Borrower will at all times have the sole responsibility for ensuring that all Capital Replacements are completed in accordance with all such requirements of any Governmental Authority.

Appears in 85 contracts

Samples: Multifamily Loan and Security Agreement (New Senior Investment Group Inc.), Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.)

AutoNDA by SimpleDocs

Completion of Capital Replacements. LenderXxxxxx’s disbursement of monies from the Replacement Reserve Fund or other acknowledgment of completion of any Capital Replacement in a manner satisfactory to Lender in Lender’s Discretion will not be deemed a certification by Lender that the Capital Replacement has been completed in accordance with applicable building, zoning or other codes, ordinances, statutes, laws, regulations or requirements of any Governmental Authority. Borrower will at all times have the sole responsibility for ensuring that all Capital Replacements are completed in accordance with all such requirements of any Governmental Authority.

Appears in 6 contracts

Samples: Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.), Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.), Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.)

Completion of Capital Replacements. Lender’s 's disbursement of monies moneys from the Replacement Reserve Fund or other acknowledgment of completion of any Capital Replacement in a manner satisfactory to Lender in Lender’s Discretion will shall not be deemed a certification by Lender that the Capital Replacement has been completed in accordance with applicable building, zoning or other codes, ordinances, statutes, laws, regulations or requirements of any Governmental Authoritygovernmental authority or agency. Borrower will shall at all times have the sole responsibility for ensuring that all Capital Replacements are completed in accordance with all such requirements of any Governmental Authoritygovernmental requirements.

Appears in 5 contracts

Samples: Replacement Reserve Agreement, Replacement Reserve Agreement, Replacement Reserve Agreement (Us Realty Partners LTD Partnership)

Completion of Capital Replacements. Funding Lender’s disbursement of monies from the Replacement Reserve Fund or other acknowledgment of completion of any Capital Replacement in a manner satisfactory to Funding Lender in Funding Lender’s Discretion will not be deemed a certification by Funding Lender that the Capital Replacement has been completed in accordance with applicable building, zoning or other codes, ordinances, statutes, laws, regulations or requirements of any Governmental Authority. Borrower will at all times have the sole responsibility for ensuring that all Capital Replacements are completed in accordance with all such requirements of any Governmental Authority.

Appears in 4 contracts

Samples: Continuing Covenant Agreement, Continuing Covenant Agreement, Continuing Covenant Agreement

Completion of Capital Replacements. Lender’s disbursement of monies moneys from the Replacement Reserve Fund or other acknowledgment of completion of any Capital Replacement in a manner satisfactory to Lender in Lender’s Discretion will shall not be deemed a certification by Lender that the Capital Replacement has been completed in accordance with applicable building, zoning or other codes, ordinances, statutes, laws, regulations or requirements of any Governmental Authoritygovernmental authority or agency. Borrower will shall at all times have the sole responsibility for ensuring that all Capital Replacements are completed in accordance with all such requirements of any Governmental Authoritygovernmental requirements.

Appears in 2 contracts

Samples: Replacement Reserve Agreement, Replacement Reserve Agreement (Paladin Realty Income Properties Inc)

Completion of Capital Replacements. Lender’s 's disbursement of monies moneys from the Replacement Reserve Fund or other acknowledgment of completion of any Capital Replacement in a manner satisfactory to Lender in Lender’s Discretion will shall not be deemed a certification by Lender that the Capital Replacement has been completed in accordance with applicable building, zoning or other codes, ordinances, statutes, laws, regulations or requirements of any Governmental Authoritygovernmental authority or agency. Borrower will shall at all times have the sole responsibility for ensuring insuring that all Capital Replacements are completed in accordance with all such requirements of any Governmental Authoritygovernmental requirements.

Appears in 2 contracts

Samples: Replacement Reserve Agreement (Fox Strategic Housing Income Partners), Replacement Reserve Agreement (Fox Strategic Housing Income Partners)

Completion of Capital Replacements. LenderLxxxxx’s disbursement of monies from the Replacement Reserve Fund or other acknowledgment of completion of any Capital Replacement in a manner satisfactory to Lender in Lender’s Discretion will not be deemed a certification by Lender that the Capital Replacement has been completed in accordance with applicable building, zoning or other codes, ordinances, statutes, laws, regulations or requirements of any Governmental Authority. Borrower will at all times have the sole responsibility for ensuring that all Capital Replacements are completed in accordance with all such requirements of any Governmental Authority.

Appears in 1 contract

Samples: Multifamily Loan and Security Agreement (Sentio Healthcare Properties Inc)

AutoNDA by SimpleDocs

Completion of Capital Replacements. Lender’s 's disbursement of monies from the Replacement Reserve Fund or other acknowledgment of completion of any Capital Replacement in a manner satisfactory to Lender in Lender’s 's Discretion will not be deemed a certification by Lender that the Capital Replacement has been completed in accordance with applicable building, zoning or other codes, ordinances, statutes, laws, regulations or requirements of any Governmental Authority. Borrower will at all times have the sole responsibility for ensuring that all Capital Replacements are completed in accordance with all such requirements of any Governmental Authority.

Appears in 1 contract

Samples: Multifamily Loan and Security Agreement (Bluerock Residential Growth REIT, Inc.)

Completion of Capital Replacements. Lender’s disbursement of monies moneys from the Replacement Reserve Fund or other acknowledgment of completion of any Capital Replacement in a manner satisfactory to Lender in Lender’s Discretion will not be deemed a certification by Lender that the Capital Replacement has been completed in accordance with applicable building, zoning zoning, or other codes, ordinances, statutes, laws, regulations regulations, or requirements of any Governmental Authoritygovernmental authority or agency. Borrower will at all times have the sole responsibility for ensuring that all Capital Replacements are completed in accordance with all such requirements of any Governmental Authoritygovernmental requirements.

Appears in 1 contract

Samples: Replacement Reserve Agreement

Completion of Capital Replacements. Lender’s disbursement of monies from the Replacement Reserve Fund or other acknowledgment of completion of any Capital Replacement in a manner satisfactory to Lender in Lender’s Discretion will not be deemed a certification by Lender that the Capital Replacement has been completed in accordance with applicable building, zoning or other codes, ordinances, statutes, laws, Rider to Multifamily Loan and Security Agreement Page 3 regulations or requirements of any Governmental Authority. Borrower will at all times have the sole responsibility for ensuring that all Capital Replacements are completed in accordance with all such requirements of any Governmental Authority.

Appears in 1 contract

Samples: Multifamily Loan and Security Agreement – Seniors Housing (Strategic Student & Senior Housing Trust, Inc.)

Completion of Capital Replacements. Lender’s disbursement of monies moneys from the Replacement Reserve Fund or other acknowledgment of completion of any Capital Replacement in a manner satisfactory to Lender in Lender’s Discretion will shall not be deemed a certification by Lender that the Capital Replacement has been completed in accordance with applicable building, zoning or other codes, ordinances, statutes, laws, regulations or requirements of any Governmental Authoritygovernmental authority or agency. Borrower will Mortgagor shall at all times have the sole responsibility for ensuring that all Capital Replacements are completed in accordance with all such requirements of any Governmental Authoritygovernmental requirements.

Appears in 1 contract

Samples: Replacement Reserve Agreement (Grubb & Ellis Healthcare REIT II, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!