Common use of Continuation of Rate Cap Agreement Clause in Contracts

Continuation of Rate Cap Agreement. If a Transfer of all or part of the Mortgaged Property permitted by this Loan Agreement occurs, Borrower will ensure that any Rate Cap Agreement is transferred to the applicable transferee or, if the Rate Cap Agreement is not transferable, Borrower will replace the Rate Cap Agreement in accordance with Lender’s then-current requirements.

Continuation of Rate Cap Agreement. If a Transfer of all or part of the Mortgaged Property permitted by this Loan Agreement occurs, Borrower will ensure that any Rate Cap Agreement third-party interest rate cap is transferred to the applicable transferee or, if the Rate Cap Agreement interest rate cap is not transferable, Borrower will replace the Rate Cap Agreement third-party interest rate cap in accordance with Lender’s then-current requirements.

Continuation of Rate Cap Agreement. If a Transfer of all or part of the Mortgaged Property permitted by this Loan Continuing Covenant Agreement occurs, Borrower will ensure that any Rate Cap Agreement is transferred to the applicable transferee or, if the Rate Cap Agreement is not transferable, Borrower will replace the Rate Cap Agreement in accordance with Funding Lender’s then-current requirements.

Continuation of Rate Cap Agreement. If a Transfer of all or part of the Mortgaged Property permitted by this Loan Agreement occurs, Borrower will ensure that any Rate Cap Agreement third-party interest rate cap is transferred to the applicable transferee or, if the Rate Cap Agreement interest rate cap is not transferable, Borrower will replace the Rate Cap Agreement third-party interest rate cap in accordance with LenderLxxxxx’s then-current requirements.