Common use of Conditions Precedent to Termination of Credit Facility Clause in Contracts

Conditions Precedent to Termination of Credit Facility. The right of the Borrower to terminate this Agreement and the Credit Facility and to receive a release of all of the Collateral from the Collateral Pool and the Lender’s obligation to execute and deliver the Facility Termination Documents on the Closing Date are subject to the following conditions precedent: (a) Payment by the Borrower in full of all of the Notes Outstanding on the Closing Date, including any associated prepayment premiums or other amounts due under the Notes and all other amounts owing by the Borrower to the Lender under this Agreement; (b) If applicable, defeasance by the Borrower, in accordance with the provisions of Section 3.10 of this Agreement, with respect to all Base Facility Notes Outstanding on the Closing Date; (c) If applicable, payment of the Facility Termination Fee; and (d) The satisfaction of all applicable General Conditions set forth in Article XI.

Appears in 3 contracts

Samples: Master Credit Facility Agreement (United Dominion Realty Trust Inc), Master Credit Facility Agreement (United Dominion Realty Trust Inc), Master Credit Facility Agreement (United Dominion Realty Trust Inc)

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Conditions Precedent to Termination of Credit Facility. The right of the Borrower to terminate this Agreement and the Credit Facility and to receive a release of all of the Collateral from the Collateral Pool and the Lender’s obligation to execute and deliver the Facility Termination Documents on the Closing Date are subject to the following conditions precedent: (a) Payment by the Borrower in full of all of the Notes Outstanding on the Closing Date, including any associated prepayment premiums or other amounts due under the Notes and all other amounts owing by the Borrower to the Lender under this Agreement; (b) If applicable, defeasance Defeasance by the Borrower, in accordance with the provisions of Section 3.10 of this Agreement, with respect to all Base Fixed Facility Notes Outstanding on the Closing Date; (c) If applicable, payment Payment of the Facility Termination Fee; and (d) The satisfaction of all applicable General Conditions set forth in Article XI.

Appears in 2 contracts

Samples: Master Credit Facility Agreement (Mid America Apartment Communities Inc), Master Credit Facility Agreement (Mid America Apartment Communities Inc)

Conditions Precedent to Termination of Credit Facility. The right ------------------------------------------------------ of the Borrower to terminate this Agreement and the Credit Facility and to receive a release of all of the Collateral from the Collateral Pool and the Lender’s 's obligation to execute and deliver the Facility Termination Documents on the Closing Date are subject to the following conditions precedent: (a) Payment by the Borrower in full of all of the Notes Outstanding on the Closing Date, including any associated prepayment premiums or other amounts due under the Notes and all other amounts owing by the Borrower to the Lender under this Agreement; (b) If applicable, defeasance by the Borrower, in accordance with the provisions of Section 3.10 of this Agreement, with respect to all Base Facility Notes Outstanding on the Closing Date; (c) If applicable, payment of the Facility Termination Fee; and (d) The satisfaction of all applicable General Conditions set forth in Article XI.

Appears in 2 contracts

Samples: Master Credit Facility Agreement (United Dominion Realty Trust Inc), Master Credit Facility Agreement (United Dominion Realty Trust Inc)

Conditions Precedent to Termination of Credit Facility. The right of the Borrower to terminate this Agreement and the Credit Facility and to receive a release of all of the Collateral from the Collateral Pool and the Lender’s 's obligation to execute and deliver the Facility Termination Documents on the Closing Date are subject to the following conditions precedent: (a) Payment by the Borrower in full of all of the Notes Outstanding on the Closing Date, including any associated prepayment premiums or other amounts due under the Notes and all other amounts owing by the Borrower to the Lender under this Agreement; (b) If applicable, defeasance Defeasance by the Borrower, in accordance with the provisions of Section 3.10 of this Agreement, with respect to all Base Fixed Facility Notes Outstanding on the Closing Date; (c) If applicable, payment Payment of the Facility Termination Fee; and (d) The satisfaction of all applicable General Conditions set forth in Article XI.

Appears in 1 contract

Samples: Master Credit Facility Agreement (Mid America Apartment Communities Inc)

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Conditions Precedent to Termination of Credit Facility. The right of the Borrower to terminate this Agreement and the Credit Facility and to receive a release of all of the Collateral from the Collateral Pool and the Lender’s 's obligation to execute and deliver the Facility Termination Documents on the Closing Date are subject to the following conditions precedent: (a) Payment by the Borrower in full of all of the Notes Outstanding on the Closing Date, including any associated prepayment premiums or other amounts due under the Notes and all other amounts owing by the Borrower to the Lender under this Agreement; (b) If applicable, defeasance Defeasance by the Borrower, in accordance with the provisions of Section 3.10 of this Agreement, with respect to all Base Facility Notes Outstanding on the Closing Date; (c) If applicable, payment Payment of the Revolving Facility Termination Fee; and (d) The satisfaction of all applicable General Conditions set forth in Article XI.

Appears in 1 contract

Samples: Master Credit Facility Agreement (Walden Residential Properties Inc)

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