Fixed Loans. Lender agrees to make a Fixed Loan to each applicable Collateral Pool Borrower in the original principal amounts in respect of such Collateral Pool Borrower set forth on Exhibit A attached hereto. Except as set forth in Section 2.05 of this Agreement, no Fixed Loan or Additional Fixed Loan shall be made as a result of a decrease in the Loan to Value Ratio or an increase in the Debt Service Coverage Ratio of any Mortgaged Property.
Appears in 1 contract
Samples: Master Credit Facility Agreement (Archstone Smith Operating Trust)
Fixed Loans. Lender agrees to make a Fixed Loan to each Each applicable Collateral Pool Borrower has obtained a Fixed Loan in the original principal amounts in respect of such Collateral Pool Borrower set forth on Exhibit A attached hereto. Except as set forth in Section 2.05 of this Agreement, no Fixed Loan or Additional No Fixed Loan shall be made as a result of a decrease in the Loan to Value Ratio or an increase in the Debt Service Coverage Ratio of any Mortgaged Property. Except in connection with the extensions made pursuant to Section 1.05, no additional Loans are permitted.
Appears in 1 contract
Samples: Master Credit Facility Agreement (Erp Operating LTD Partnership)
Fixed Loans. Lender agrees to make a Fixed Loan to each Each applicable Collateral Pool Borrower has obtained a Fixed Loan in the original principal amounts in respect of such Collateral Pool Borrower set forth on Exhibit A attached hereto. Except as set forth in Section 2.05 of this Agreement, no Fixed Loan or Additional No Fixed Loan shall be made as a result of a decrease in the Loan to Value Ratio or an increase in the Debt Service Coverage Ratio of any Mortgaged Property. Except in connection with the extensions made pursuant to Section 1.05 and Section 1.06, no additional Loans are permitted.
Appears in 1 contract
Fixed Loans. Lender agrees to make a Fixed Loan to each Each applicable Collateral Pool Borrower has obtained a Fixed Loan in the original principal amounts in respect of such Collateral Pool Borrower set forth on Exhibit A attached hereto. Except as set forth in Section 2.05 of this Agreement, no Fixed Loan or Additional No Fixed Loan shall be made as a result of a decrease in the Loan to Value Ratio or an increase in the Debt Service Coverage Ratio of any Mortgaged Property. No additional Loans are permitted.
Appears in 1 contract
Samples: Master Credit Facility Agreement (Avalonbay Communities Inc)