Common use of Initial Financing Clause in Contracts

Initial Financing. The Partnership approves borrowing pursuant to the Mortgage Loan. The Mortgage Loan is secured by a first-priority mortgage lien on the Project. General Partner shall deliver (or cause to be delivered to Limited Partner) to the Limited Partner all notices, correspondence, and information delivered by the holder (or servicer) of the Mortgage Loan to the Partnership.

Initial Financing. The Partnership approves borrowing pursuant to the Mortgage Loan. The Mortgage Loan is secured by a first-priority mortgage lien on the Project. General Partner shall deliver (or cause to be delivered to Limited Preferred Partner) to the Limited Preferred Partner all notices, correspondence, and information delivered by the holder (or servicer) of the Mortgage Loan to the Property LLC and/or the Partnership.

Initial Financing. The Partnership approves borrowing by the Property Partnerships pursuant to the Mortgage Loan. The Each loan comprising the Mortgage Loan is will be secured by a first-priority mortgage lien liens on the each Project. General Partner shall deliver (or cause to be delivered to Limited Preferred Partner) to the Limited Preferred Partner all notices, correspondence, and information delivered by the holder (or servicer) of the Mortgage Loan to the Property Partnerships and/or the Partnership.