GENERAL TERMS 44 Clause Samples
GENERAL TERMS 44. Section 2.1. Loan Commitment; Disbursement to Borrower 44 Section 2.2. Interest Rate 44 Section 2.3. Loan Payment 50 Section 2.4. Prepayments 51 Section 2.5. Release of Property 52 Section 2.6. Cash Management 52 ARTICLE III. [INTENTIONALLY OMITTED] 60 ARTICLE IV. REPRESENTATIONS AND WARRANTIES 60 Section 4.1. Borrower Party and Property Representations 60 ARTICLE V. BORROWER COVENANTS 73 Section 5.1. Affirmative Covenants 73 Section 5.2. Negative Covenants 90 ARTICLE VI. INSURANCE; CASUALTY; CONDEMNATION; RESTORATION 102 Section 6.1. Insurance 102 ARTICLE VII. RESERVE FUNDS 111 Section 7.1. Intentionally Omitted 111 Section 7.2. Tax and Insurance Escrow Account 111 Section 7.3. FF&E Reserve Account 111 Section 7.4. Interest Reserve Account 113 Section 7.5. Permitted Tax Distributions Account 115 Section 7.6. Seasonality Cash Reserve Account 115 Section 7.7. Major Capital Improvement Reserve Account 116 Section 7.8. Existing Lien Reserve 118 Section 7.9. Intentionally Omitted 119 Section 7.10. Intentionally Omitted 119 Section 7.11. Letter of Credit 119 Section 7.12. Reserve Funds Generally 120 ARTICLE VIII. DEFAULTS 120 Section 8.1. Event of Default 120 Section 8.2. Remedies 124
GENERAL TERMS 44. Section 2.1. The Loan 44 Section 2.2. Disbursement to Borrower 44 Section 2.3. The Note, the Pledge Agreement and Loan Documents 45 Section 2.4. Interest Rate 45 Section 2.5. Loan Payments 48 Section 2.6. Loan Prepayments 52 Section 2.7. Taxes 55 Section 2.8. Intentionally Omitted 58 Section 2.9. Property Releases 58 ARTICLE 3 CONDITIONS PRECEDENT 61 Section 3.1. Conditions Precedent 61 ARTICLE 4 REPRESENTATIONS AND WARRANTIES 61 Section 4.1. Organization 61 Section 4.2. Status of Borrower 62 Section 4.3. Validity of Documents 62 Section 4.4. No Conflicts 63 Section 4.5. Litigation 63 Section 4.6. Agreements 63 Section 4.7. Solvency 64 Section 4.8. Full and Accurate Disclosure 64 Section 4.9. No Plan Assets 65 Section 4.10. Not a Foreign Person 65 Section 4.11. Enforceability 65 Section 4.12. Business Purposes 65 Section 4.13. Compliance 65 Section 4.14. Financial Information 66 Section 4.15. Condemnation 66 Section 4.16. Utilities and Public Access; Parking 67 Section 4.17. Separate Lots 67 Section 4.18. Assessments 67 Section 4.19. Insurance 67 Section 4.20. Use of Property 67 Section 4.21. Certificate of Occupancy; Licenses 68 Section 4.22. Flood ▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ 4.23. Physical Condition 68 Section 4.24. Boundaries 68 Section 4.25. Leases 69 Section 4.26. Filing and Recording Taxes 69 Section 4.27. Management Agreement 69 Section 4.28. Illegal Activity 70 Section 4.29. Construction Expenses 70 ▇▇▇▇▇▇▇▇.▇.▇▇▇▇▇▇▇▇ i Section 4.30. Personal Property 70 Section 4.31. Taxes 70 Section 4.32. Title 71 Section 4.33. Federal Reserve Regulations 71 Section 4.34. Investment Company Act 71 Section 4.35. Property Documents 72 Section 4.36. No Change in Facts or Circumstances; Disclosure 72 Section 4.37. Intellectual Property 73 Section 4.38. Compliance with Prescribed Laws 73 Section 4.39. Brokers and Financial Advisors 73 Section 4.40. Franchise Agreements 73 Section 4.41. PIPS 74 Section 4.42. Intentionally Omitted 74 Section 4.43. Labor Matters 74 Section 4.44. Ground Lease 74 Section 4.45. Operating Lease Representations 76 Section 4.46. Condominium Representations 76 Section 4.47. Affiliates 78 Section 4.48. Mortgage Borrower Mezzanine A Borrower Representations 78 Section 4.49. Mortgage Loan Documents 78 Section 4.50. Other Mezzanine Loan Documents 78 Section 4.51. Mortgage Loan Default and Mezzanine A Loan Default 79 Section 4.52. Survival 79 ARTICLE 5 BORROWER COVENANTS 79 Section 5.1. Existence; Compliance with Requirements 79 Section 5.2. Maintenance and Us...