Common use of Loan Expenses Clause in Contracts

Loan Expenses. Each Lender shall be responsible for the payment of his, her or its pro rata share of any Loan Expenses based upon such Xxxxxx’s Fractional Interest. So long as there are sufficient Loan Proceeds or Property Proceeds available to pay all outstanding Loan Expenses (including any Loan Expense Reserves established by the Servicer pursuant to Section 11, below), each Lender’s share of such Loan Expenses shall be deducted from such Loan Proceeds or Property Proceeds (or available Reserves) prior to any distribution of such proceeds to the Lenders under Section 23, below. To the extent the Loan Proceeds and the Property Proceeds are insufficient to pay any Loan Expenses, the Servicer may, in its sole discretion and with no obligation to do so, advance the amounts required to pay the Loan Expenses in accordance with Section 12, below, and/or require the Lenders to pay their share of the Loan Expenses in accordance with the following provisions (a “Loan Expense Request”):

Loan Expenses. Each Lender shall be responsible for the payment of his, her or its pro rata share of any Loan Expenses based upon such XxxxxxLender’s Fractional Interest. So long as there are sufficient Loan Proceeds or Property Proceeds available to pay all outstanding Loan Expenses (including any Loan Expense Reserves established by the Servicer pursuant to Section 11, below), each Lender’s share of such Loan Expenses shall be deducted from such Loan Proceeds or Property Proceeds (or available Reserves) prior to any distribution of such proceeds to the Lenders under Section 23, below. To the extent the Loan Proceeds and the Property Proceeds are insufficient to pay any Loan Expenses, the Servicer may, in its sole discretion and with no obligation to do so, advance the amounts required to pay the Loan Expenses in accordance with Section 12, below, and/or require the Lenders to pay their share of the Loan Expenses in accordance with the following provisions (a “Loan Expense Request”):