Condition to All Advances. If, in the reasonable opinion of Lender, the prospect of payment or performance of all or any part of the Obligations has been impaired because of a material adverse change in the financial condition, results of operations, business or properties of any Borrower or Guarantor, Lender shall have no obligation to make any advance of Loan proceeds from the TILC/Capital Expenditures Holdback, provided that Lender has delivered to Borrowers written notice of such determination.
Appears in 2 contracts
Samples: Term Loan Agreement (KBS Strategic Opportunity REIT, Inc.), Term Loan Agreement (KBS Strategic Opportunity REIT, Inc.)
Condition to All Advances. If, in the reasonable opinion of Lender, the prospect of payment or performance of all or any part of the Obligations has been impaired because of a material adverse change in the financial condition, results of operations, business or properties of any Borrower or Guarantor, Lender shall have no obligation to make any advance of Loan proceeds from the TILC/Capital Expenditures Holdback, provided that Lender has delivered to Borrowers Borrower written notice of such determination.
Appears in 2 contracts
Samples: Term Loan Agreement, Term Loan Agreement (KBS Real Estate Investment Trust III, Inc.)
Condition to All Advances. If, in the reasonable opinion of Lender, the prospect of payment or performance of all or any part of the Obligations has been impaired because of a material adverse change in the financial condition, results of operations, business or properties of any Borrower or Guarantor, Lender shall have no obligation to make any advance of Loan proceeds from the TILC/Capital Expenditures TILC Holdback, provided that Lender has delivered to Borrowers written notice of such determination.
Appears in 1 contract
Samples: Term Loan Agreement (KBS Real Estate Investment Trust III, Inc.)
Condition to All Advances. If, in the reasonable opinion of Lender, the prospect of payment or performance of all or any part of the Obligations has been impaired because of a material adverse change in the financial condition, results of operations, business or properties of any Borrower or Guarantor, Lender shall have no obligation to make any advance of Loan proceeds from the TILC/Capital Expenditures HoldbackHoldback or the TILC Reserve Account, provided that Lender has delivered to Borrowers Borrower written notice of such determination.
Appears in 1 contract
Samples: Term Loan Agreement (KBS Strategic Opportunity REIT, Inc.)
