Geographical Diversification. If, as a result of the Defeasance, Lender determines that the geographical diversification of the Collateral Pool is compromised (whether or not the Geographical Diversification Requirement is met), Lender may require that Borrower add or substitute Multifamily Residential Properties to the Collateral Pool in a number and having a valuation required to restore the geographical diversification of the Collateral Pool to a level at least as diverse as before the Defeasance.
Geographical Diversification. The Borrower shall maintain Mortgaged Properties in the Collateral Pool so that the Collateral Pool consists of at least seven (7) Mortgaged Properties located in at least two (2) states and five (5) SMSA’s, and provided, however, that, upon the occurrence of any increase in the Commitment pursuant to Article VIII, the Borrower shall at all times thereafter cause the Collateral Pool to satisfy such other Geographical Diversification Requirements as the Lender may determine and notify Borrower of at the time of the increase.
Geographical Diversification. The Borrower shall maintain Mortgaged Properties in the Collateral Pool so that the Collateral Pool satisfies the Geographical Diversification Requirement..
Geographical Diversification. 62 ---------------------------- SECTION 13.25 Ownership of Mortgaged Properties.......................................................... 62 --------------------------------- ARTICLE XIV.................................................................................................. 63 SECTION 14.01
Geographical Diversification. For each Request on or after the First Anniversary, the Geographical Diversification Requirements shall be satisfied. In the event Borrower decides to wind down the Credit Facility over a period no longer than six (6) months by releasing all of the Mortgaged Properties then currently remaining in the Collateral Pool, Borrower shall send a notice in writing to Lender, which notice shall include a statement that Borrower intends to wind down the Credit Facility and a timeline for each of the releases (the “Wind Down Notice”). After receipt of the Wind Down Notice, the Geographical Diversification Requirements for any Release may be waived in Lender’s discretion, provided that Borrower satisfies each of the following at the time of the Release: (x) all other conditions of a Release shall be met and (y) each Mortgaged Property then currently remaining in the Collateral Pool has a Debt Service Coverage Ratio of not less than 1.30:1.0 with respect to the amount of the Advance which equals the Allocated Facility Amount which is allocated to each such Mortgaged Property and drawn from the Fixed Facility Commitment and 1.05:1.0 with respect to the amount of the Advance which equals the Allocated Facility Amount which is allocated to each such Mortgaged Property and drawn from the Variable Facility Commitment and a Loan to Value Ratio of not more than seventy-five percent (75%). At Borrower’s request, Lender may in its discretion permit that the Geographical Diversification Requirements be waived in connection with any Request.
Geographical Diversification. From and after the date on which the Collateral Pool first consists of ten (10) or more Mortgaged Properties, the Borrower shall maintain Mortgaged Properties in the Collateral Pool so that the Collateral Pool consists of at least nine (9) Mortgaged Properties located in at least five (5) SMSA’s, provided, however, that, upon the occurrence of any increase in the Commitment pursuant to Article VIII, the Borrower shall at all times thereafter cause the Collateral Pool to satisfy such other Geographical Diversification Requirements as the Lender may determine and notify Borrower of at the time of the increase.
Geographical Diversification. 71 SECTION 13.25 Ownership of Mortgaged Properties.......................................................71
Geographical Diversification. The Borrower shall maintain Mortgaged Properties in the Collateral Pool so that the Collateral Pool consists of at least 35 Mortgaged Properties located in at least six states, provided that for purposes of this Section 13.24, SMSA's in the State of Texas (up to a maximum of four) shall count as states and provided, however, that, upon the occurrence of any increase in the Commitment pursuant to Article VIII, the Borrower shall at all times thereafter cause the Collateral Pool to satisfy such other Geographical Diversification Requirements as the Lender may determine and notify Borrower of at the time of the increase.
Geographical Diversification. 73 SECTION 13.25 OWNERSHIP OF MORTGAGED PROPERTIES ........................ 73 ARTICLE XIV ................................................................ 73 SECTION 14.01
Geographical Diversification. The Mortgaged Properties in the Collateral Pool satisfy the Geographical Diversification Requirements.
