Common use of Loan Compliance Clause in Contracts

Loan Compliance. The Transferor Partnership shall (a) make (or cause the Borrower Partnership to make) all payments of interest and principal and, if applicable, tax escrow, insurance escrow and other amounts required under the Note and other Loan Documents coming due thereunder prior to the Closing, in accordance with the terms thereof, (b) otherwise comply (and cause the Borrower Partnership to comply) with all of the material terms and provisions of the Loan Documents up to the Closing, (c) not alter or amend (or permit the Borrower Partnership to alter or amend) the Loan Documents, or seek or accept (or permit the Borrower Partnership to seek or accept) any waivers or extensions of time for payment or performance thereunder except as permitted and set forth on Schedule 9.06 attached hereto and (d) not make (or permit the Borrower Partnership to make) any prepayment of principal under the Note. Without limitation of the foregoing, the Transferor Partnership shall (a) make all payments of interest and principal and, if applicable, tax escrow, insurance escrow, and other amounts required under the Borrower Partnership Note coming due thereunder prior to the Closing in accordance with the terms thereof, (b) otherwise comply with all of the material terms and provisions of the Borrower Partnership Note up to the Closing, (c) not alter or amend the Borrower Partnership Note, or seek or accept any waivers or extensions of time for payment or performance thereunder except as permitted and set forth on Schedule 9.06 attached hereto and (d) not make any prepayment of principal under the Borrower Partnership Note.

Loan Compliance. The Transferor Partnership shall (a) make (or cause the Borrower Partnership to make) all payments of interest and principal and, if applicable, tax escrow, insurance escrow and other amounts required under the Note and other Loan Documents coming due thereunder prior to the Closing, in accordance with the terms thereof, (b) otherwise comply (and cause the Borrower Partnership to comply) with all of the material terms and provisions of the Loan Documents up to the Closing, (c) not alter or amend (or permit the Borrower Partnership to alter or amend) the Loan Documents, or seek or accept (or permit the Borrower Partnership to seek or accept) any waivers or extensions of time for payment or performance thereunder thereunder, except as permitted that the Transferor Partnership (and set forth on Schedule 9.06 attached hereto the Borrower Partnership) may extend the maturity date of the Loan to January 31, 1998 and shall use its good faith efforts to do so, and (d) not make (or permit the Borrower Partnership to make) any prepayment of principal under the Note. Without limitation of the foregoing, the Transferor Partnership shall (a) make all payments of interest and principal and, if applicable, tax escrow, insurance escrow, and other amounts required under the Borrower Partnership Note coming due thereunder prior to the Closing in accordance with the terms thereof, (b) otherwise comply with all of the material terms and provisions of the Borrower Partnership Note up to the Closing, (c) not alter or amend the Borrower Partnership Note, or seek or accept any waivers or extensions of time for payment or performance thereunder thereunder, except that the maturity date of the Borrower Partnership Loan may be extended to January 31, 1998 in the event that the maturity date of the Loan is extended to January 31, 1998 as permitted and set forth on Schedule 9.06 attached hereto provided above, and (d) not make any prepayment of principal under the Borrower Partnership Note. All costs incurred in extending the maturity date of the Loan and the Borrower Partnership Loan shall be paid by the Transferor Partnership.