Initial Determinations. On the Initial Closing Date, Lender shall determine (i) the Allocable Facility Amount and Valuation for each Initial Mortgaged Property, (ii) the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio, and (iii) the Advance Amount. The determinations made as of the Initial Closing Date shall remain unchanged until the First Anniversary. Changes in the Allocable Facility Amount, Valuations, the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio shall be made pursuant to Section 2.04(b).
Appears in 3 contracts
Samples: Master Credit Facility Agreement (Colonial Realty Limited Partnership), Master Credit Facility Agreement (Colonial Properties Trust), Master Credit Facility Agreement (Bre Properties Inc /Md/)
Initial Determinations. On the Initial Closing Date, Lender shall determine (i) the Allocable Facility Amount and Valuation for each Initial Mortgaged Property, (ii) the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio, and (iii) the Advance Amount, and (iv) the Commitment amount. The determinations made as of the Initial Closing Date shall remain unchanged until the First Anniversary. Changes in the Allocable Facility Amount, Valuations, the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio shall be made pursuant to Section 2.04(b2.05(b).
Appears in 2 contracts
Samples: Master Credit Facility Agreement (Education Realty Trust, Inc.), Master Credit Facility Agreement (Education Realty Trust, Inc.)
Initial Determinations. On the Initial Closing Date, Lender shall determine (i) the Allocable Facility Loan Amount and Valuation for each Initial Mortgaged Property, and (ii) the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio. Subject to Section 2.01(b), and (iii) the Advance Amount. The determinations made as of the Initial Closing Date shall remain unchanged until the First Anniversary. Changes in the Allocable Facility Loan Amount, Valuations, the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio shall be made pursuant to Section 2.04(b2.01(b).
Appears in 1 contract
Samples: Master Credit Facility Agreement (Camden Property Trust)
Initial Determinations. On or before the Initial Closing Date, Lender shall determine (i1) the Allocable Facility Amount and Valuation for each Initial Mortgaged Property, (ii2) the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio, and (iii3) the Advance Amount, and (4) the Commitment amount. The determinations made as of the Initial Closing Date shall remain unchanged until the First Anniversary. Changes in the Allocable Facility Amount, Valuations, the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio shall be made pursuant to Section 2.04(b2.03(b).
Appears in 1 contract
Samples: Master Credit Facility Agreement (Emeritus Corp\wa\)
Initial Determinations. On the Initial Closing Date, Lender shall determine (i1) the Allocable Facility Amount and Valuation for each Initial Mortgaged Property, (ii) the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio, (2) the amount of the Advance, and (iii3) the Advance AmountCommitment amount. The Subject to Section 2.05(b), the determinations made as of the Initial Closing Date shall remain unchanged until the First Anniversary. Changes in the Allocable Facility Amount, Valuations, the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio shall be made pursuant to Section 2.04(b2.05(b).
Appears in 1 contract
Samples: Master Credit Facility Agreement (Camden Property Trust)
Initial Determinations. On the Initial Closing Date, Lender shall determine (i) the Allocable Facility Loan Amount and Valuation for each Initial Mortgaged Property, (ii) and the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio. Subject to Section 2.01(b), and (iii) the Advance Amount. The determinations made as of the Initial Closing Date shall remain unchanged until the First Anniversary. Changes in the Allocable Facility Loan Amount, Valuations, the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio shall be made pursuant to Section 2.04(b2.01(b).
Appears in 1 contract
Samples: Master Credit Facility Agreement (Camden Property Trust)
Initial Determinations. On the Initial Closing Date, Lender shall determine (i) the Allocable Facility Amount and Valuation for each Initial Mortgaged Property, (ii) the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio, the amount of the Advance, and (iii) the Advance AmountCommitment amount. The Subject to Section 2.05(b), the determinations made as of the Initial Closing Date shall remain unchanged until the First Anniversary. Changes in the Allocable Facility Amount, Valuations, the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio shall be made pursuant to Section 2.04(b(b).
Appears in 1 contract
Samples: Master Credit Facility Agreement (Camden Property Trust)