Deposits to Rate Cap Agreement Reserve Fund. If the initial Cap Agreement terminates prior to the Maturity Date, Lender will establish the Rate Cap Agreement Reserve Fund on the Closing Date. Commencing on the date the first installment of principal and/or interest is due under the Note and continuing on the same day for each successive month until the purchase of the last Replacement Cap Agreement, Borrower must pay to Lender an amount equal to the Rate Cap Reserve Deposit.
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Samples: Multifamily Loan and Security Agreement (New Senior Investment Group Inc.), Loan Agreement, Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.)
Deposits to Rate Cap Agreement Reserve Fund. If the initial Cap Agreement terminates prior to the Maturity Date, Lender will establish the Rate Cap Rider to Multifamily Loan and Security Agreement Rate Cap Agreement and Rate Cap Agreement Reserve Fund Page 1 Agreement Reserve Fund on the Closing Date. Commencing on the date the first installment of principal and/or interest is due under the Note and continuing on the same day for each successive month until the purchase of the last Replacement Cap Agreement, Borrower must pay to Lender an amount equal to the Rate Cap Reserve Deposit.
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Samples: Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.)
Deposits to Rate Cap Agreement Reserve Fund. If the initial Cap Agreement terminates prior to the Maturity Date, Funding Lender will establish the Rate Cap Agreement Reserve Fund on the Closing Date. Commencing on the date the first installment of principal and/or interest is due under the Project Note and continuing on the same day for each successive month until the purchase of the last required Replacement Cap Agreement, Borrower must pay to Funding Lender an amount equal to the Rate Cap Reserve Deposit.
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Samples: Continuing Covenant Agreement
Deposits to Rate Cap Agreement Reserve Fund. If the initial Cap Agreement terminates prior to the Maturity Date, Lender will establish the Rate Cap Agreement Reserve Fund on the Closing Date. Commencing on the date the first installment of principal and/or interest is due under the Note and continuing on the same day for each successive month until the purchase of the last required Replacement Cap Agreement, Borrower must pay to Lender an amount equal to the Rate Cap Reserve Deposit.
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