Common use of Disqualified Properties Clause in Contracts

Disqualified Properties. If at any time any Financed Property shall become a Disqualified Property, the Borrowers shall, no later than the close of business on the second (2nd) Business Day following the last day of the applicable Cure Period, give notice thereof to the Administrative Agent and the Calculation Agent and either (1) prepay the Obligations in the applicable Release Amount or (2) provided that such Property is eligible to become a Reserved Property, deposit an amount equal to 100% of the Allocated Loan Amount for such Financed Property in the Eligibility Reserves Account in accordance with and subject to Section 6.12. If the Administrative Agent notifies the Borrower Representative that the Borrowers shall no longer be permitted to maintain Eligibility Reserves in respect of any Disqualified Property in accordance with Section 6.12, the Borrowers shall, by no later than the close of business on the second (2nd) Business Day following the date of such notice, prepay the Obligations in the applicable Release Amount in respect of such Property.

Disqualified Properties. If at any time after the Closing Date any Financed Property shall become a Disqualified Property, the Borrowers shall, no later than the close of business on the second (2nd) Business Day following the last day of the applicable Cure Period, give notice thereof to the Administrative Agent and the Calculation Agent and either (1) prepay the Obligations in the applicable Release Amount or (2) provided that such Property is eligible to become a Reserved Property, deposit an amount equal to 100% of the Allocated Loan Amount for such Financed Property in the Eligibility Reserves Account in accordance with and subject to Section 6.126.10. If the Administrative Agent notifies the Borrower Representative that the Borrowers shall no longer be permitted to maintain Eligibility Reserves in respect of any Disqualified Property in accordance with Section 6.126.10, the Borrowers shall, by no later than the close of business on the second (2nd) Business Day following the date of such notice, prepay the Obligations in the applicable Release Amount in respect of such Property.