Common use of Misapplication of Funds Clause in Contracts

Misapplication of Funds. No Borrower or Operating Lessee shall distribute any Adjusted Operating Income from any Property or any Proceeds in violation of the provisions of this Agreement, fail to remit amounts to the Deposit Account, the Holding Account or any of the Reserve Accounts if and as required under this Agreement, or misappropriate any security deposits or portion thereof.

Misapplication of Funds. No Borrower or Operating Lessee shall not distribute any Adjusted Operating Income from any the Property or any Proceeds in violation of the provisions of this Agreement, fail to remit amounts to the Deposit Account, the Holding Account or any of the Reserve Accounts if and as required under this Agreement, or misappropriate any security deposits or portion thereof.

Misapplication of Funds. No Borrower or Operating Lessee shall not distribute any Adjusted Operating Income from any the Property or any Proceeds in violation of the provisions of this Agreement, fail to remit amounts to the Deposit Account, the Holding Account or any of the Reserve Accounts if and as required under this Agreement, or misappropriate any security deposits or portion thereof. Except as expressly permitted pursuant to Section 9.2.3 hereof with respect to distributions to pay Member Income Taxes, Borrower shall not make any distributions or other payments to its members or partners, as applicable, during a Low NOI Period.

Misapplication of Funds. No Borrower Issuer or Operating Lessee shall distribute any Adjusted Operating Income from any Property or any Proceeds in violation of the provisions of this AgreementIndenture, fail to remit amounts to the Deposit Account, the Holding Account or any of the Reserve Accounts if and as required under this AgreementIndenture, or misappropriate any security deposits or portion thereof.