Consequence of Event of Default. Lender shall not be obligated to disburse Restoration Proceeds or amounts from the Restoration Holdback when an Event of Default exists, and upon the occurrence of an Event of Default, any undisbursed portion of the Restoration Proceeds (including the Restoration Deficiency Deposit and the Restoration Holdback) may, at Lender’s option, be applied against the Loan, whether or not then due or accelerated, in such order and manner as Lender determines.
Appears in 4 contracts
Samples: Loan Agreement (Resource Real Estate Opportunity REIT, Inc.), Loan Agreement (Macquarie Infrastructure CO LLC), Loan Agreement (CNL Hotels & Resorts, Inc.)
Consequence of Event of Default. Lender shall not be obligated to disburse Restoration Proceeds or amounts from the Restoration Holdback when an Event of Default exists, and upon the occurrence of an Event of Default, any undisbursed portion of the Restoration Proceeds (including the Restoration Deficiency Deposit and the Restoration Holdback) may, at Lender’s 's option, be applied against the Loan, whether or not then due or accelerated, in such order and manner as Lender determines.
Appears in 4 contracts
Samples: Loan Agreement (Cole Credit Property Trust V, Inc.), Loan Agreement (Consolidated Capital Properties Iv), Loan Agreement (Macquarie Infrastructure CO LLC)
Consequence of Event of Default. Lender shall not be obligated to disburse Restoration Proceeds or amounts from the Restoration Holdback when an Event of Default exists, and upon the occurrence of an Event of DefaultDefault and acceleration of the Loan, any undisbursed portion of the Restoration Proceeds (including the Restoration Deficiency Deposit and the Restoration Holdback) may, at Lender’s option, be applied against the Loan, whether or not then due or accelerated, in such order and manner as Lender determines.
Appears in 1 contract
Samples: Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.)
Consequence of Event of Default. Lender shall not be obligated to disburse Restoration Proceeds or amounts from the Restoration Holdback when an Event of Default exists, and upon the occurrence and during the continuance of an Event of Default, any undisbursed portion of the Restoration Proceeds (including the Restoration Deficiency Deposit and the Restoration Holdback) may, at Lender’s option, be applied against the Loan, whether or not then due or accelerated, in such order and manner as Lender determines.
Appears in 1 contract
Consequence of Event of Default. Lender shall not be obligated to disburse Restoration Proceeds or amounts from the Restoration Holdback when an Event of Default exists, and upon the occurrence of an Event of Default, any undisbursed portion of the Restoration Proceeds (including the Restoration Deficiency Deposit and the Restoration Holdback) may, at Lender’s 's option, be applied against the Loan, whether or not then due or accelerated, in such order and manner mam1er as Lender determines.
Appears in 1 contract
Samples: Loan Agreement (Cole Credit Property Trust V, Inc.)
