Common use of Immediate Covenant Default Clause in Contracts

Immediate Covenant Default. The failure of: (1) any Borrower to perform, comply with or observe any term, covenant or agreement contained in any of Sections 13(a)(i), (ii) or (iv) (Existence; Compliance with Law); (j) (Financial Condition Covenants); (k) (No Adverse Selection); (n) (Illegal Activities); (p) (Material Change in Business); (q) (Limitation on Dividends and Distributions); (r) (Disposition of Assets; Liens); (s) (Transactions with Affiliates); (t) (ERISA Matters); (u) (Consolidations, Mergers and Sales of Assets); (w) (Special Purpose Entity); (x) (Actions of Borrower Relating to Liens); (cc) Interest Reserve Amount; (dd) Property Management, (ff) Additional Series or (gg) Insolvency Event, in each case, of this Agreement; (2) any Pledgor to perform, comply with or observe any term, covenant or agreement contained in any of Sections 4(a)(i) or (ii), (g), (h), (i) or (k), in the case, of any Pledge and Security Agreement; (3) of Guarantor to perform, comply with or observe any term, covenant or agreement contained in any of Sections 11(a)(i) or (ii) (Preservation of Existence; Compliance with Law); (e) (Illegal Activities); (f) (Material Change in Business); (g) (Limitation on Dividends and Distributions); or (i) (Financial Covenants; Officer’s Compliance Certificate), in the case, of the Guaranty or (4) REIT Manager to perform, comply with or observe its obligation not to undertake any obligations of the Property Manager with respect to the Financed Rental Properties; or

Immediate Covenant Default. The failure of: (1) any Borrower to perform, comply with or observe any term, covenant or agreement contained in any of Sections 13(a)(i), (ii) or (iv) (Existence; Compliance with Law); (j) (Financial Condition Covenants); (k) (No Adverse Selection); (n) (Illegal Activities); (p) (Material Change in Business); (q) (Limitation on Dividends and Distributions); (r) (Disposition of Assets; Liens); (s) (Transactions with Affiliates); (t) (ERISA Matters); (u) (Consolidations, Mergers and Sales of Assets); (w) (Special Purpose Entity); (x) (Actions of Borrower Relating to Liens); (ccz) Interest Reserve AmountMortgage Documents; (dd) Property Management, (ff) Additional Series or (gg) Insolvency Event, in each case, of this Agreement; (2) any Pledgor to perform, comply with or observe any term, covenant or agreement contained in any of Sections 4(a)(i) or (ii), (g), (h), (i) or (k), in the case, of any Pledge and Security Agreement; (3) of Guarantor to perform, comply with or observe any term, covenant or agreement contained in any of Sections 11(a)(i) or (ii) (Preservation of Existence; Compliance with Law); (e) (Illegal Activities); (f) (Material Change in Business); (g) (Limitation on Dividends and Distributions); or (i) (Financial Covenants; Officer’s Compliance Certificate), in the case, of the Guaranty or (4) REIT Manager to perform, comply with or observe its obligation not to undertake any obligations of the Property Manager with respect to the Financed Rental Properties; or

Immediate Covenant Default. The failure of: of (1i) any Borrower Seller Party to perform, comply with or observe any term, covenant or agreement applicable to such Seller Party contained in any of Sections 13(a)(i), (ii) or (iv13(a) (Preservation of Existence; Compliance with Law); (h) (True and Correct Information); (j) (Financial Condition Covenants); (kl) (No Adverse Selection); (no) (Illegal Activities); (p) (Material Change in Business); (q) (Limitation on Dividends and Distributions); (r) (Disposition of Assets; Liens); (s) (Transactions with Affiliates); (t) (ERISA Matters); (u) (Consolidations, Mergers and Sales of Assets); (wv) (Mortgage Loan Reports); (y) (Anti-Money Laundering Laws); (aa) (No Prohibited Persons); (bb) (Foreign Corrupt Practices Act); (dd) (Investment Company Act); (ee) (Special Purpose Entity); (xff) (Actions of Borrower Relating to LiensTrust Interests); (cc) Interest Reserve Amount; (dd) Property Management, (ff) Additional Series or (gghh) Insolvency Event, (No Division/Series Transactions) in each case, case of this Agreement; (2) any Pledgor to perform, comply with or observe any term, covenant or agreement contained in any of Sections 4(a)(i) Agreement or (ii), (g), (h), (i) or (k), in the case, of any Pledge and Security Agreement; (3) of Guarantor to perform, comply with or observe any term, covenant or agreement applicable to Guarantor contained in any of Sections 11(a)(i) or (ii6(a) (Preservation of Existence; Compliance with Law); (eg) (True and Correct Information); (i) (Financial Condition Covenants); (l) (Illegal Activities); (fm) (Material Change in Business); (gn) (Limitation on Dividends and Distributions); (o) (Disposition of Assets; Liens); (p) (Transactions with Affiliates); (q) (ERISA Matters); (r) (Consolidations, Mergers and Sales of Assets); (u) (Anti-Money Laundering Laws); (v) (No Prohibited Persons); (w) (Foreign Corrupt Practices Act); or (ix) (Financial Covenants; Officer’s Compliance Certificate), in the case, Investment Company Act) of the Guaranty or (4) REIT Manager to perform, comply with or observe its obligation not to undertake any obligations of the Property Manager with respect to the Financed Rental PropertiesGuaranty; or