Common use of Contributions and Waivers Clause in Contracts

Contributions and Waivers. (a) As a result of the transactions contemplated by this Agreement, each Borrower will benefit, directly and indirectly, from each Borrower’s obligation to pay the Debt and perform its obligations and in consideration therefore each Borrower desires to enter into an allocation and contribution agreement among themselves as set forth in this Section to allocate such benefits among themselves and to provide a fair and equitable agreement to make contributions among each of Borrowers in the event any payment is made by any individual Borrower hereunder to Lender (such payment being referred to herein as a “Contribution”, and for purposes of this Section, includes any exercise of recourse by Lender against any collateral of a Borrower and application of proceeds of such collateral in satisfaction of such Borrower’s obligations, to Lender under the Loan Documents).

Appears in 6 contracts

Samples: Loan Agreement (Stirling Hotels & Resorts, Inc.), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

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Contributions and Waivers. (ac) As a result of the transactions contemplated by this Agreement, each Borrower will benefit, directly and indirectly, from each Borrower’s obligation to pay the Debt and perform its obligations Obligations and in consideration therefore each Borrower desires to enter into an allocation and contribution agreement among themselves as set forth in this Section to allocate such benefits among themselves and to provide a fair and equitable agreement to make contributions among each of Borrowers in the event any payment is made by any individual Borrower hereunder to Lender (such payment being referred to herein as a “Contribution”, and for purposes of this Section, includes any exercise of recourse by Lender against any collateral of a Borrower and application of proceeds of such collateral in satisfaction of such Borrower’s obligations, to Lender under the Loan Documents).

Appears in 4 contracts

Samples: Mezzanine a Loan Agreement (Ashford Hospitality Trust Inc), Mezzanine C Loan Agreement (Ashford Hospitality Trust Inc), Mezzanine B Loan Agreement (Ashford Hospitality Trust Inc)

Contributions and Waivers. (a) As a result of the transactions contemplated by this Agreementthe Loan Documents, each individual Borrower will benefit, directly and indirectly, from each individual Borrower’s obligation to pay the Debt and perform its obligations and in consideration therefore therefor each individual Borrower desires to enter into an allocation and contribution agreement among themselves as set forth in this Section to shall allocate such benefits among themselves and to provide a fair fairly and equitable agreement to equitably make contributions among each of Borrowers individual Borrower in the event any payment is made by any an individual Borrower hereunder to Lender which is in excess of the amount attributable to that individual Borrower or its portion of its Individual Property (such payment being referred to herein as a “Contribution”, ,” and for purposes of this SectionSection 10.30, includes any exercise of recourse by Lender against any collateral of a an individual Borrower and application of proceeds of such collateral in satisfaction of such individual Borrower’s obligations, obligations to Lender under the Loan Documents).

Appears in 4 contracts

Samples: Loan Agreement (Global Net Lease, Inc.), Loan Agreement (Necessity Retail REIT, Inc.), Loan Agreement (Healthcare Trust, Inc.)

Contributions and Waivers. (a) As a result of the transactions contemplated by this Agreement, each Borrower will benefit, directly and indirectly, from each Borrower’s obligation to pay the Debt and perform its obligations Obligations and in consideration therefore each Borrower desires to enter into an allocation and contribution agreement among themselves as set forth in this Section 9.6 to allocate such benefits among themselves and to provide a fair and equitable agreement to make contributions among each of the Borrowers in the event any payment is made by any individual Borrower hereunder to Lender (such payment being referred to herein as a “Contribution”, ,” and for purposes of this SectionSection 9.6, includes any exercise of recourse by Lender against any collateral Collateral of a Borrower and application of proceeds of such collateral Collateral in satisfaction of such Borrower’s obligations, to Lender under the Loan Documents).

Appears in 4 contracts

Samples: Loan Agreement (Netreit, Inc.), Loan Agreement (Republic Property Trust), Loan Agreement (Meristar Hospitality Operating Partnership Lp)

Contributions and Waivers. (a) As a result of the transactions contemplated by this Agreement, each Borrower will benefit, directly and indirectly, from each Borrower’s obligation to pay the Debt and perform its obligations Obligations and in consideration therefore therefor each Borrower desires to enter into an allocation and contribution agreement among themselves as set forth in this Section 9.5 to allocate such benefits among themselves and to provide a fair and equitable agreement to make contributions among each of Borrowers Borrower in the event any payment is made by any individual Borrower hereunder to Lender (such payment being referred to herein as a “Contribution”, ,” and for purposes of this SectionSection 9.5, includes any exercise of recourse by Lender against any collateral Collateral of a Borrower and application of proceeds of such collateral Collateral in satisfaction of such Borrower’s obligations, to Lender under the Loan Documents).

Appears in 2 contracts

Samples: Loan Agreement (Spirit Finance Corp), Loan Agreement (Spirit Finance Corp)

Contributions and Waivers. (a) As a result of the transactions contemplated by this Agreement, each Borrower will benefit, directly and indirectly, from each Borrower’s obligation to pay the Debt and perform its obligations Obligations and in consideration therefore each Borrower desires to enter into an allocation and contribution agreement among themselves as set forth in this Section 17.17 to allocate such benefits among themselves and to provide a fair and equitable agreement to make contributions among each of the Borrowers in the event any payment is made by any an individual Borrower hereunder to Lender (such payment being referred to herein as a “Contribution”, and for purposes of this SectionSection 17.17, includes any exercise of recourse by Lender against any collateral of a Borrower and application of proceeds of such collateral in satisfaction of such Borrower’s obligations, to Lender under the Loan Documents).

Appears in 1 contract

Samples: Loan Agreement (Orion Office REIT Inc.)

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Contributions and Waivers. (a) As a)As a result of the transactions contemplated by this AgreementLoan Agreement and the other Loan Documents, each Borrower will benefit, directly and indirectly, from each other Borrower’s obligation to pay the Debt and perform its obligations Obligations, and in consideration therefore therefore, each Borrower desires to enter into an allocation and contribution agreement agrees among themselves as set forth in this Section 7.09 to allocate such benefits among themselves and to provide a fair and equitable agreement to make contributions among each of Borrowers in the event any payment is made by any individual Borrower hereunder to Lender (such payment being referred to herein as a “Contribution”, ,” and for purposes of this Section, includes any exercise of recourse by Lender against any collateral Property of a Borrower and application of proceeds of such collateral Property in satisfaction of such Borrower’s obligations, to Lender under the Loan Documents).

Appears in 1 contract

Samples: Loan Agreement (Cedar Realty Trust, Inc.)

Contributions and Waivers. (a) As a result of the transactions contemplated by this Agreement, each Borrower will benefit, directly and indirectly, from each Borrower’s obligation to pay the Debt and perform its obligations and in consideration therefore each Borrower desires to enter into an allocation and contribution agreement among themselves as set forth in this Section to allocate such benefits among themselves and to provide a fair and equitable agreement to make contributions among each of Borrowers in the event any payment is made by any individual Borrower hereunder to Lender (such payment being referred to herein as a “Contribution”, and 157 for purposes of this Section, includes any exercise of recourse by Lender against any collateral of a Borrower and application of proceeds of such collateral in satisfaction of such Borrower’s obligations, to Lender under the Loan Documents).

Appears in 1 contract

Samples: Loan Agreement (Ashford Hospitality Trust Inc)

Contributions and Waivers. (aA) As a result of the transactions contemplated by this AgreementAgreement and the other Loan Documents, each Borrower will benefit, directly and indirectly, from each Borrower’s obligation to pay the Debt and perform its obligations the Obligations and in consideration therefore each Borrower desires to enter into an allocation and contribution agreement among themselves as set forth in this Section to allocate such benefits among themselves and to provide a fair and equitable agreement to make contributions among each of the Borrowers in the event any payment is made by any individual Borrower hereunder to Lender (such payment being referred to herein as a “Contribution”, ,” and for purposes of this Section, includes any exercise of recourse by Lender against the Collateral of any collateral of a Borrower and application of proceeds of such collateral Collateral in satisfaction of such Borrower’s obligations, obligations to Lender under the Loan Documents).

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Strategic Storage Trust II, Inc.)

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