Common use of Establishment or Modification of Rate Cap Agreement Reserve Fund Clause in Contracts

Establishment or Modification of Rate Cap Agreement Reserve Fund. (i) If the third-party Cap Agreement which will be in place immediately following the Transfer is scheduled to expire prior to the Maturity Date, Lender may require Borrower to establish a Rate Cap Agreement Reserve Fund. (ii) If Borrower has previously established a Rate Cap Agreement Reserve Fund, then Lender will determine whether the balance of any existing Rate Cap Agreement Reserve Fund is sufficient under then-current market conditions to purchase a Replacement Cap Agreement, and may then take any of the following actions: (A) Lender may require Borrower to make an additional deposit into the Rate Cap Agreement Reserve Fund. (B) If funding of the Rate Cap Agreement Reserve Fund has been deferred, Lender may require Borrower to begin making monthly deposits into the Rate Cap Agreement Reserve Fund. (C) Lender may require Borrower to increase the amount of monthly deposits to the Rate Cap Agreement Reserve Fund.

Establishment or Modification of Rate Cap Agreement Reserve Fund. (i) If the third-party Cap Agreement which will be in place immediately following the Transfer is scheduled to expire prior to the Maturity Date, Funding Lender may require Borrower to establish a Rate Cap Agreement Reserve Fund. (ii) If Borrower has previously established a Rate Cap Agreement Reserve Fund, then Funding Lender will determine whether the balance of any existing Rate Cap Agreement Reserve Fund is sufficient under then-current market conditions to purchase a Replacement Cap Agreement, and may then take any of the following actions: (A) Funding Lender may require Borrower to make an additional deposit into the Rate Cap Agreement Reserve Fund. (B) If funding of the Rate Cap Agreement Reserve Fund has been deferred, Funding Lender may require Borrower to begin making monthly deposits into the Rate Cap Agreement Reserve Fund. (C) Funding Lender may require Borrower to increase the amount of monthly deposits to the Rate Cap Agreement Reserve Fund.

Establishment or Modification of Rate Cap Agreement Reserve Fund. (i) If the third-party Rate Cap Agreement which will be in place immediately following the Transfer is scheduled to expire prior to the Maturity Date, then Lender may require Borrower to establish a Rate Cap Agreement Reserve Fund. (ii) If Borrower has previously established a Rate Cap Agreement Reserve Fund, then Lender will determine whether the balance of any existing Rate Cap Agreement Reserve Fund is sufficient under then-current market conditions to purchase a Replacement Rate Cap Agreement, Agreement and may then take any of the following actions: (A) Lender may require Borrower to make an additional deposit into the Rate Cap Agreement Reserve Fund. (B) If funding of the Rate Cap Agreement Reserve Fund has been deferred, Lender may require Borrower to begin making monthly deposits into the Rate Cap Agreement Reserve Fund. (C) Lender may require Borrower to increase the amount of the monthly deposits to the Rate Cap Agreement Reserve Fund.

Establishment or Modification of Rate Cap Agreement Reserve Fund. (i) If the third-party Cap Agreement interest rate cap which will be in place immediately following the Transfer is scheduled to expire prior to the Maturity Date, Lender may require Borrower to establish a Rate Cap Agreement Reserve Fund. (ii) If Borrower has previously established a Rate Cap Agreement Reserve Fund, then Lender will determine whether the balance of any existing Rate Cap Agreement Reserve Fund is sufficient under then-current market conditions to purchase a Replacement Cap Agreementreplacement cap, and may then take any of the following actions: (A) Lender may require Borrower to make an additional deposit into the Rate Cap Agreement Reserve Fund. (B) If funding of the Rate Cap Agreement Reserve Fund has been deferred, Lender may require Borrower to begin making monthly deposits into the Rate Cap Agreement Reserve Fund. (C) Lender may require Borrower to increase the amount of monthly deposits to the Rate Cap Agreement Reserve Fund.

Establishment or Modification of Rate Cap Agreement Reserve Fund. (i) If the third-party Cap Agreement which will be in place immediately following the Transfer is scheduled to expire prior to the Maturity Date, Lender may require Borrower to establish a Rate Cap Agreement Reserve Fund. (ii) If Borrower has previously established a Rate Cap Agreement Reserve Fund, then Lender will determine whether the balance of any existing Rate Cap Agreement Reserve Fund is sufficient under then-current market conditions to purchase a Replacement Cap Agreement, and may then take any of the following actions: (A) Lender may require Borrower to make an additional deposit into the Rate Cap Agreement Reserve Fund. (B) If funding of the Rate Cap Agreement Reserve Fund has been deferred, Lender may require Borrower to begin making monthly deposits into the Rate Cap Agreement Reserve Fund. . (C) Lender may require Borrower to increase the amount of monthly deposits to the Rate Cap Agreement Reserve Fund.