Defeasance Not Allowed. Borrower shall not have the right to obtain Defeasance at any of the following times: (1) before the third anniversary of the date of the relevant Base Facility Note; (2) after the expiration of the Defeasance Period; or (3) after Lender has accelerated the maturity of the unpaid principal balance of, accrued interest on, and other amounts payable under, any Note pursuant to Paragraph 6 of such Note.
Appears in 4 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)
Defeasance Not Allowed. The Borrower shall not have the right to obtain Defeasance at any of the following times:
(1) before the third anniversary of the date of the relevant Base Fixed Facility Note;
(2) after the expiration of the Defeasance Period; or
(3) after Lender has accelerated the maturity of the unpaid principal balance of, accrued interest on, and other amounts payable under, any Note pursuant to Paragraph 6 of such Note.
Appears in 3 contracts
Samples: Master Credit Facility Agreement (Mid America Apartment Communities Inc), Master Credit Facility Agreement (Mid America Apartment Communities Inc), Master Credit Facility Agreement (Mid America Apartment Communities Inc)
Defeasance Not Allowed. Borrower shall not have the right to ---------------------- obtain Defeasance at any of the following times:
(1) before the third anniversary of the date of the relevant Base Facility Note;
(2) after the expiration of the Defeasance Period; or
(3) after Lender has accelerated the maturity of the unpaid principal balance of, accrued interest on, and other amounts payable under, any Note pursuant to Paragraph 6 of such Note.
Appears in 2 contracts
Samples: Master Credit Facility Agreement (United Dominion Realty Trust Inc), Master Credit Facility Agreement (United Dominion Realty Trust Inc)
Defeasance Not Allowed. The Borrower shall not have the right to obtain a Defeasance at any of the following times:
(1) before the third anniversary of the date of the relevant Base Facility Note;
(2) after the expiration of the Defeasance PeriodInitial Closing Date; or
(32) after Lender has accelerated the maturity of the unpaid principal balance of, accrued interest on, and other amounts payable under, any Note pursuant with respect to Paragraph 6 of such Notethe Advances.
Appears in 1 contract
Samples: Master Credit Facility Agreement (Bre Properties Inc /Md/)
Defeasance Not Allowed. The Borrower shall not have ---------------------- the right to obtain Defeasance at any of the following times:
(1) before the third anniversary of the date of the relevant Base Facility Note;
(2) after the expiration of the Defeasance Period; or
(3) after Lender has accelerated the maturity of the unpaid principal balance of, accrued interest on, and other amounts payable under, any Note pursuant to Paragraph 6 of such Note.
Appears in 1 contract
Samples: Master Credit Facility Agreement (Town & Country Trust)
