Insufficient Amount in Repair Reserve Fund. If a Repair Reserve Fund has been established and Lender determines, in Lender’s Discretion that the money in the Repair Reserve Fund is insufficient to pay for the Repairs, Lender will provide Borrower with Notice of such insufficiency, and as soon as possible (but in no event later than 20 days after such Notice) Borrower will pay to Lender an amount, in cash, equal to such deficiency, which Lender will deposit in the Repair Reserve Fund.
Appears in 11 contracts
Samples: Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.)
Insufficient Amount in Repair Reserve Fund. If a Repair Reserve Fund has been established and Lender determines, in Lender’s Discretion that the money in the Repair Reserve Fund is insufficient to pay for the Repairs, Lender will provide Borrower with Notice of such insufficiency, and as soon as possible (but in no event later than 20 days after such Notice) Borrower will pay to Lender an amount, in cash, equal to such deficiency, which Lender will deposit in the Repair Reserve Fund.
Appears in 9 contracts
Samples: Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.), Multifamily Loan and Security Agreement (Bluerock Residential Growth REIT, Inc.), Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.)
Insufficient Amount in Repair Reserve Fund. If a Repair Reserve Fund has been established and Lender determines, in Lender’s Discretion that the money in the Repair Reserve Fund is insufficient to pay for the Repairs, Lender will provide Borrower with Notice of such insufficiency, and as soon as possible (but in no event later than 20 days after such Notice) Borrower will pay to Lender an amount, in cash, equal to such deficiency, which Lender will deposit in the Repair Reserve Fund.. Repair Reserve Fund
Appears in 5 contracts
Samples: Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.)
Insufficient Amount in Repair Reserve Fund. If a Repair Reserve Fund has been established and Lender determines, in LenderXxxxxx’s Discretion Discretion, that the money in the Repair Reserve Fund is insufficient to pay for the Repairs, then Lender will provide Borrower with Notice of such insufficiency, and as . As soon as possible (but in no event later than 20 days after such Notice) Borrower will pay to Lender an amount, in cash, equal to such deficiency, which Lender will deposit in into the Repair Reserve Fund.
Appears in 2 contracts
Samples: Multifamily Loan and Security Agreement, Multifamily Loan and Security Agreement
Insufficient Amount in Repair Reserve Fund. If a Repair Reserve Fund has been established and Lender determines, in Lender’s Discretion that the money in the Repair Reserve Fund is insufficient to pay for the Repairs, Lender will provide Borrower with Notice of such insufficiency, and as soon as possible (but in no event later than 20 days after such Notice) Borrower will pay to Lender an amount, in cash, equal to such deficiency, which Lender will deposit in the Repair Reserve Fund.. Rider to Multifamily Loan and Security Agreement Repair Reserve Fund Page 1
Appears in 2 contracts
Samples: Multifamily Loan and Security Agreement (New Senior Investment Group Inc.), Multifamily Loan and Security Agreement (Bluerock Residential Growth REIT, Inc.)
Insufficient Amount in Repair Reserve Fund. If a Repair Reserve Fund has been established and Funding Lender determines, in Funding Lender’s Discretion that the money in the Repair Reserve Fund is insufficient to pay for the Repairs, Funding Lender will provide Borrower with Notice of such insufficiency, and as soon as possible (but in no event later than 20 days after such Notice) Borrower will pay to Funding Lender an amount, in cash, equal to such deficiency, which Funding Lender will deposit in the Repair Reserve Fund.
Appears in 1 contract
Samples: Continuing Covenant Agreement
Insufficient Amount in Repair Reserve Fund. If a Repair Reserve Fund has been established and Lender determines, in Lender’s 's Discretion that the money in the Repair Reserve Fund is insufficient to pay for the Repairs, Lender will provide Borrower with Notice of such insufficiency, and as soon as possible (but in no event later than 20 days after such Notice) Borrower will pay to Lender an amount, in cash, equal to such deficiency, which Lender will deposit in the Repair Reserve Fund.
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (Bluerock Residential Growth REIT, Inc.)
Insufficient Amount in Repair Reserve Fund. If a Repair Reserve Fund has been established and Lender determines, in Lender’s Discretion that the money in the Repair Reserve Fund is insufficient to pay for the Repairs, Lender will provide Borrower with Notice of such insufficiency, and as soon as possible (but in no event later than 20 days after such Notice) Borrower will pay to Lender an amount, in cash, equal to such deficiency, which Lender will deposit in the Repair Reserve Fund.. Repair Reserve Fund (Xxxxxxxx Reserve)
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.)
Insufficient Amount in Repair Reserve Fund. If a Repair Reserve Fund has been established and Funding Lender determines, determines in Funding Lender’s Discretion that the money in the Repair Reserve Fund is insufficient to pay for the Repairs, then Funding Lender will provide Borrower with Notice of such insufficiency, and as . As soon as possible (but in no event later than 20 days after such Notice) Borrower will pay to Funding Lender an amount, in cash, equal to such deficiency, which Funding Lender will deposit in into the Repair Reserve Fund.
Appears in 1 contract
Samples: Continuing Covenant Agreement
Insufficient Amount in Repair Reserve Fund. If a Repair Reserve Fund has been established and Lender determines, in LenderXxxxxx’s Discretion that the money in the Repair Reserve Fund is insufficient to pay for the Repairs, Lender will provide Borrower with Notice of such insufficiency, and as soon as possible (but in no event later than 20 days after such Notice) Borrower will pay to Lender an amount, in cash, equal to such deficiency, which Lender will deposit in the Repair Reserve Fund.. Repair Reserve Fund (Xxxxxxxx Reserve)
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.)
Insufficient Amount in Repair Reserve Fund. If a Repair Reserve Fund has been established and Lender determines, in Lender’s Discretion that the money in the Repair Reserve Fund is insufficient to pay for the Repairs, Lender will provide Borrower with Notice of such insufficiency, and as soon as possible (but in no event later Repair Reserve Fund than 20 days after such Notice) Borrower will pay to Lender an amount, in cash, equal to such deficiency, which Lender will deposit in the Repair Reserve Fund.
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.)
Insufficient Amount in Repair Reserve Fund. If a Repair Reserve Fund has been established and Lender determines, in Lender’s Discretion that the money in the Repair Reserve Fund is insufficient to pay for the Repairs, Lender will provide Borrower with Notice of such insufficiency, and as soon as possible (but in no event later than 20 days after such Notice) Borrower will pay to Lender an amount, in cash, equal to such deficiency, which Lender will deposit in the Repair Reserve Fund.. Repair Reserve Fund
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.)
Insufficient Amount in Repair Reserve Fund. If a Repair Reserve Fund has been established and Lender determines, in Lender’s Lendxx’x Discretion that the money in the Repair Reserve Fund is insufficient to pay for the Repairs, Lender will provide Borrower with Notice of such insufficiency, and as soon as possible (but in no event later than 20 days after such Notice) Borrower will pay to Lender an amount, in cash, equal to such deficiency, which Lender will deposit in the Repair Reserve Fund.
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.)
Insufficient Amount in Repair Reserve Fund. If a Repair Reserve Fund has been established and Lender determines, in Lender’s Discretion that the money in the Repair Reserve Fund is insufficient to pay for the Repairs, Lender will provide Borrower with Notice of such insufficiency, and as soon as possible (but in no event later than 20 days after such Notice) Borrower will pay to Lender an amount, in cash, equal to such deficiency, which Lender will deposit in the Repair Reserve Fund. (d) Disbursements of Repair Reserve Fund.
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (Independence Realty Trust, Inc)
Insufficient Amount in Repair Reserve Fund. If a Repair Reserve Fund has been established and Lender determines, in Lender’s Discretion that the money in the Repair Reserve Fund is insufficient to pay for the Repairs, Lender will provide Borrower with Notice of such insufficiency, and as soon as possible (but in no event later than 20 days after such Notice) Borrower will pay to Lender an amount, in cash, equal to such deficiency, which Lender will deposit in the Repair Reserve Fund.. Rider to Multifamily Loan and Security Agreement Repair Reserve Fund
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (Strategic Student & Senior Housing Trust, Inc.)
Insufficient Amount in Repair Reserve Fund. If a Repair Reserve Fund has been established and Lender determines, in LenderXxxxxx’s Discretion that the money in the Repair Reserve Fund is insufficient to pay for the Repairs, Lender will provide Borrower with Notice of such insufficiency, and as soon as possible (but in no event later than 20 days after such Notice) Borrower will pay to Lender an amount, in cash, equal to such deficiency, which Lender will deposit in the Repair Reserve Fund.
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.)
