Material Adverse Credit Condition. Xxxxxxx Mac hereby acknowledges that a Release Event may not be declared solely because the DCR or LTV of a Mortgaged Property (as defined in Section 3.19 hereof) related to a Bond worsens following the Closing Date, and that any such event shall not in and of itself be treated as a “material adverse credit condition” for such purpose. The foregoing statement does not in any way alter or change the DCR and LTV requirements for Substitute Bonds specified in Section 3.19 hereof.
Appears in 3 contracts
Samples: Pledge and Security Agreement (America First Multifamily Investors, L.P.), Pledge and Security Agreement (America First Multifamily Investors, L.P.), Pledge and Security Agreement (America First Multifamily Investors, L.P.)
Material Adverse Credit Condition. Xxxxxxx Fxxxxxx Mac hereby acknowledges that a Release Event may not be declared solely because the DCR or LTV of a Mortgaged Property (as defined in Section 3.19 hereof) related to a Bond Deposited Asset worsens following the Closing Date, and that any such event shall not in and of itself be treated as a “material adverse credit condition” for such purpose. The foregoing statement does not in any way alter or change the DCR and LTV requirements for Substitute Bonds Assets specified in Section 3.19 hereof.
Appears in 2 contracts
Samples: Pledge and Security Agreement (America First Multifamily Investors, L.P.), Pledge and Security Agreement (America First Tax Exempt Investors Lp)
