Common use of Lender’s Request Clause in Contracts

Lender’s Request. If Lender reasonably determines at any time or from time to time, that a Capital Replacement is necessary for the proper maintenance of the Mortgaged Property, it will so notify Borrower, in writing, requesting that Borrower obtain and submit to Lender bids for all labor and materials required in connection with such Capital Replacement. Borrower will submit such bids and a time schedule for completing each Capital Replacement to Lender within 30 days after Borrower’s receipt of Lender’s Notice. Borrower will perform such Capital Replacement and request from Lender, in writing, reimbursement for such Capital Replacement. Borrower’s request for reimbursement will include (1) a detailed description of the Capital Replacement performed, together with evidence, satisfactory to Lender, that the cost of such Capital Replacement has been paid, and (2) if required by Lender, lien waivers from each contractor and material supplier supplying labor or materials for such Capital Replacement.

Appears in 81 contracts

Samples: Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.)

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Lender’s Request. If Lender shall reasonably determines determine at any time or from time to time, that a Capital Replacement is necessary for the proper maintenance of the Mortgaged Property, it will shall so notify Borrower, in writing, requesting that Borrower obtain and submit to Lender bids for all labor and materials required in connection with such Capital Replacement. Borrower will shall submit such bids and a time schedule for completing each Capital Replacement to Lender within 30 thirty (30) days after Borrower’s 's receipt of Lender’s Notice's written notice. Borrower will shall perform such Capital Replacement and request from Lender, in writing, reimbursement for such Capital Replacement. Borrower’s 's request for reimbursement will shall include (1A) a detailed description of the Capital Replacement performed, together with evidence, satisfactory to Lender, that the cost of such Capital Replacement has been paid, paid and (2B) if required by Lender, lien waivers from each contractor and material supplier supplying labor or materials for such Capital Replacement, if required by Lender.

Appears in 5 contracts

Samples: Replacement Reserve Agreement, Replacement Reserve Agreement, Replacement Reserve Agreement (Us Realty Partners LTD Partnership)

Lender’s Request. If Lender reasonably determines at any time or from time to time, that a Capital Replacement is necessary for the proper maintenance of the Mortgaged Property, it will so notify Borrower, in writing, requesting that Borrower obtain and submit to Lender bids for all labor and materials required in connection with such Capital Replacement. Borrower will submit such bids and a time schedule for completing each Capital Replacement to Lender within 30 days after Borrower’s receipt of Lender’s Notice. Borrower will perform such Capital Replacement and request from Lender, in writing, reimbursement or payment for such Capital Replacement. Borrower’s request for reimbursement will include (1) a detailed description of the Capital Replacement performed, together with evidence, satisfactory to Lender, that the cost of such Capital Replacement has been paid, and (2) if required by Lender, if the cost of such Capital Replacement has been paid, lien waivers from each contractor and material supplier supplying labor or materials for such Capital Replacement.

Appears in 3 contracts

Samples: Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.), Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.), Multifamily Loan and Security Agreement (Resource Apartment REIT III, Inc.)

Lender’s Request. If Lender reasonably determines at any time or from time to time, that a Capital Replacement is necessary for the proper maintenance of the Mortgaged Property, it will so notify Borrower, in writing, provide Borrower with a Notice requesting that Borrower obtain and submit to Lender bids for all labor and materials required in connection with such Capital Replacement. Borrower will submit such bids and a time schedule for completing each Capital Replacement to Lender within 30 days after Borrower’s receipt of Lender’s Notice. Borrower will perform such Capital Replacement and request from Lender, in writing, reimbursement for such Capital Replacement. Borrower’s request for reimbursement will include (1) a detailed description of the Capital Replacement performed, together with evidence, satisfactory to Lender, that the cost of such Capital Replacement has been paid, and (2) if required by Lender, lien waivers from each contractor and material supplier supplying labor or materials for such Capital Replacement.

Appears in 2 contracts

Samples: Multifamily Loan and Security Agreement (New Senior Investment Group Inc.), Multifamily Loan and Security Agreement

Lender’s Request. If Lender shall reasonably determines determine at any time or from time to time, that a Capital Replacement is necessary for the proper maintenance of the Mortgaged Property, it will shall so notify Borrower, in writing, requesting that Borrower obtain and submit to Lender bids for all labor and materials required in connection with such Capital Replacement. Borrower will shall submit such bids and a time schedule for completing each Capital Replacement to Lender within 30 thirty (3 0) days after Borrower’s receipt of Lender’s Noticewritten notice. Borrower will shall perform such Capital Replacement and request from Lender, in writing, reimbursement for such Capital Replacement. Borrower’s request for reimbursement will shall include (1A) a detailed description of the Capital Replacement performed, together with evidence, satisfactory to Lender, that the cost of such Capital Replacement has been paid, paid and (2B) if required by Lender, lien waivers from each contractor and material supplier supplying labor or materials for such Capital Replacement, if required by Lender.

Appears in 2 contracts

Samples: Secured Construction Loan Agreement (Campus Crest Communities, Inc.), Secured Construction Loan Agreement (Campus Crest Communities, Inc.)

Lender’s Request. If Lender reasonably determines at any time or from time to time, that a Capital Replacement is necessary for the proper maintenance of the Mortgaged Property, it will so notify Borrower, in writing, requesting that Borrower obtain and submit to Lender bids for all labor and materials required in connection with such Capital Replacement. Borrower will submit such bids and a time schedule for completing each Capital Replacement to Lender within 30 days after Borrower’s receipt of Lender’s Noticewritten notice. Borrower will perform such Capital Replacement and request from Lender, in writing, reimbursement for such Capital Replacement. Borrower’s request for reimbursement will must include (1A) a detailed description of the Capital Replacement performed, together with evidence, satisfactory to Lender, that the cost of such Capital Replacement has been paid, and (2B) if required by Lender, lien waivers from each contractor and material supplier supplying labor or materials for such Capital Replacement, if required by Lender.

Appears in 1 contract

Samples: Replacement Reserve Agreement

Lender’s Request. If Lender shall reasonably determines determine at any time or from time to time, that a Capital Replacement is necessary for the proper maintenance of the Mortgaged Property, it will shall so notify Borrower, in writing, requesting that Borrower obtain and submit to Lender bids for all labor and materials required in connection with such Capital Replacement. Borrower will shall submit such bids and a time schedule for completing each Capital Replacement to Lender within 30 thirty (30) days after Borrower’s receipt of Lender’s Noticewritten notice. Borrower will shall perform such Capital Replacement and request from Lender, in writing, reimbursement for such Capital Replacement. Borrower’s request for reimbursement will shall include (1A) a detailed description of the Capital Replacement performed, together with evidence, satisfactory to Lender, that the cost of such Capital Replacement has been paid, paid and (2B) if required by Lender, lien waivers from each contractor and material supplier supplying labor or materials for such Capital Replacement, if required by Lender.

Appears in 1 contract

Samples: Replacement Reserve Agreement (Paladin Realty Income Properties Inc)

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Lender’s Request. If Lender shall reasonably determines determine, at any time or and from time to time, that a Capital Replacement is necessary for the proper maintenance of the Mortgaged Property, it will shall so notify Borrower, in writing, requesting that Borrower obtain and submit to Lender bids for all labor and materials required in connection with such Capital Replacement. Borrower will shall submit such bids and a time schedule for completing each Capital Replacement to Lender within 30 thirty (30) days after Borrower’s receipt of Lender’s Noticewritten notice. Borrower will shall perform such Capital Replacement and request from Lender, in writing, reimbursement for such Capital Replacement. Borrower’s request for reimbursement will shall include (1A) a detailed description of the Capital Replacement performed, together with evidence, satisfactory to Lender, that the cost of such Capital Replacement has been paid, and (2B) if required by Lender, lien waivers from each contractor and material supplier supplying labor or materials for such Capital Replacement, if required by Lender.

Appears in 1 contract

Samples: Replacement Reserve Agreement

Lender’s Request. If Lender reasonably determines at any time or from time to time, that a Capital Replacement is necessary for the proper maintenance of the Mortgaged Property, it will so notify Borrower, in writing, requesting that Borrower obtain and submit to Lender bids for all labor and materials required in connection with such Capital Replacement. Borrower will submit such bids and a time schedule for completing each Capital Replacement to Lender within 30 days after Borrower’s 's receipt of Lender’s 's Notice. Borrower will perform such Capital Replacement and request from Lender, in writing, reimbursement for such Capital Replacement. Borrower’s 's request for reimbursement will include (( 1) a detailed description of the Capital Replacement performed, together with evidence, satisfactory to Lender, that the cost of such Capital Replacement has been paid, and (2) if required by Lender, lien waivers from each contractor and material supplier supplying labor or materials for such Capital Replacement.

Appears in 1 contract

Samples: Multifamily Loan and Security Agreement (Bluerock Residential Growth REIT, Inc.)

Lender’s Request. If Lender reasonably determines at any time or from time to time, that a Capital Replacement is necessary for the proper maintenance of the Mortgaged Property, it will so notify Borrower, in writing, requesting that Borrower obtain and submit to Lender bids for all labor and materials required in connection with such Capital Replacement. Borrower will submit such bids and a time schedule for completing each Capital Replacement to Lender within 30 days after Borrower’s receipt of Lender’s Notice. Borrower will perform such Capital Replacement and request from Lender, in writing, reimbursement for such Capital Replacement. Borrower’s request for reimbursement will include (1) a detailed description of the Capital Replacement performed, together with evidence, satisfactory to Lender, that the cost of such Capital Replacement has been paid, and (2) if required by Lender, lien waivers from each contractor and material supplier supplying labor or materials for such Capital Replacement.. Rider to Multifamily Loan and Security Agreement Replacement Reserve Fund – Immediate Deposits Page 2

Appears in 1 contract

Samples: Multifamily Loan and Security Agreement

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