Common use of Monitoring Determinations Clause in Contracts

Monitoring Determinations. Once each Calendar Quarter or, if a Collateral Pool consists only of Fixed Loans that have an Aggregate Debt Service Coverage Ratio equal to or greater than 1.25:1.0, once each Calendar Year, within twenty (20) Business Days after Borrower has delivered to Lender the reports required in Section 6.03, Lender shall determine the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio for such Collateral Pool, and whether Borrower is in compliance with the other covenants set forth in the Loan Documents. After a Collateral Event with respect to the relevant Collateral Pool, Lender shall redetermine Allocable Loan Amounts and Valuations for such Collateral Pool. Lender shall determine Cap Rates when determining Valuations in its sole and absolute discretion on the basis of its internal survey and analysis of Cap Rates for comparable sales in the vicinity of the Mortgaged Property, with such adjustments as Lender deems appropriate and shall not be obligated to use any information provided by Borrower. Lender shall promptly disclose its determinations to the applicable Collateral Pool Borrower. Until redetermined, the Allocable Loan Amounts and Valuations determined by Lender shall remain in effect. In performing a Valuation of a Multifamily Residential Property to be added to any Collateral Pool as part of a Substitution, Lender shall be entitled to obtain an Appraisal, and the Valuation will be based on such Appraisal. Lender shall also have the right to obtain an Appraisal or a Cap Rate study conducted by an appraiser in connection with the redetermination of a Valuation of a Mortgaged Property if Lender is unable to determine a Cap Rate for such Mortgaged Property.

Monitoring Determinations. Once each Calendar Quarter or, if a Collateral Pool the Commitment consists only of a Fixed Loans that have an Aggregate Debt Service Coverage Ratio equal to or greater than 1.25:1.0Facility Commitment, once each Calendar Year, within twenty (20) 20 Business Days after Borrower has delivered to Lender the reports required in Section 6.038.03, Lender shall determine the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio for such Collateral Pool, and whether Borrower is in compliance with the other covenants set forth in the Loan Documents. After a Collateral Event with respect to the relevant Collateral PoolFirst Anniversary, on an annual basis, and if Lender reasonably decides that changed market or property conditions warrant, Lender shall redetermine determine Allocable Loan Facility Amounts and Valuations for such Collateral PoolValuations. Lender shall determine also redetermine Allocable Facility Amounts to take account of any addition or release of Collateral or other event which invalidates the outstanding determinations. In determining Valuations, Lender shall use Cap Rates when determining Valuations in its sole and absolute discretion based on the basis of its internal survey and analysis of Cap Rates cap rates for comparable sales in the vicinity of the Mortgaged Property, with such adjustments as Lender deems appropriate and shall not be obligated without any obligation to use any information provided by Borrower. Lender shall promptly disclose its determinations to the applicable Collateral Pool Borrower. Until redetermined, the Allocable Loan Amounts and Valuations determined by Lender shall remain in effect. In performing a Valuation of a Multifamily Residential Property to be added to any Collateral Pool as part of a Substitution, Lender shall be entitled to obtain an Appraisal, and the Valuation will be based on such Appraisal. Lender shall also have the right to obtain an Appraisal or a Cap Rate study conducted by an appraiser in connection with the redetermination of a Valuation of a Mortgaged Property if If Lender is unable to determine a Cap Rate for such a Mortgaged Property, Lender shall have the right, not more than once annually, to obtain a market study in order to establish a Cap Rate. Lender shall promptly disclose its determinations to Borrower. Until redetermined, the outstanding Allocable Facility Amounts and Valuations shall remain in effect. Notwithstanding anything in this Agreement to the contrary, no change in Allocable Facility Amounts, Valuations, the Aggregate Loan to Value Ratio or the Aggregate Debt Service Coverage Ratio shall, unless resulting from the removal of Collateral from the Collateral Pool, (i) result in a Potential Event of Default or Event of Default or (ii) preclude the making of a Rollover Variable Advance.

Monitoring Determinations. Once each Calendar Quarter or, if a Collateral Pool the Commitment consists only of a Fixed Loans that have an Aggregate Debt Service Coverage Ratio equal to or greater than 1.25:1.0Facility Commitment, once each Calendar Year, within twenty (20) Business Days after Borrower has delivered to Lender the reports required in Section 6.03, Lender shall determine the Aggregate Debt Service Coverage Ratio and Ratio, the Aggregate Loan to Value Ratio for such Collateral PoolRatio, the Valuations and the Allocable Facility Amounts and whether Borrower is in compliance with the other covenants set forth in the Loan Documents. After a Collateral Event with respect to the relevant Collateral PoolFirst Anniversary, on an annual basis, and if Lender decides that changed market or property conditions warrant, Lender shall redetermine Allocable Loan Facility Amounts and Valuations for such Collateral PoolValuations. Lender shall determine also redetermine Allocable Facility Amounts to take account of any addition or release of Collateral or other event that invalidates the outstanding determinations. In determining Valuations, Lender shall use Cap Rates when determining Valuations in its sole and absolute discretion based on the basis of its internal survey and analysis of Cap Rates cap rates for Master Credit Facility Agreement Camden 2008 comparable sales in the vicinity of the Mortgaged Property, with such adjustments as Lender deems appropriate and shall not be obligated without any obligation to use any information provided by Borrower. Lender shall promptly disclose its determinations to the applicable Collateral Pool Borrower. Until redetermined, the Allocable Loan Amounts and Valuations determined by Lender shall remain in effect. In performing a Valuation of a Multifamily Residential Property to be added to any Collateral Pool as part of a Substitution, Lender shall be entitled to obtain an Appraisal, and the Valuation will be based on such Appraisal. Lender shall also have the right to obtain an Appraisal or a Cap Rate study conducted by an appraiser in connection with the redetermination of a Valuation of a Mortgaged Property if If Lender is unable to determine a Cap Rate for such a Mortgaged Property, Lender shall have the right, with the prior consent of Borrower, not more than once annually, to obtain, at Borrower’s expense, a market study in order to establish a Cap Rate. In the event Borrower fails to consent to Lender obtaining a market study, Lender shall determine the Cap Rate in its sole discretion. Lender shall promptly disclose its determinations to Borrower. Until redetermined, the outstanding Allocable Facility Amounts and Valuations shall remain in effect. Notwithstanding anything in this Agreement to the contrary, no change in Allocable Facility Amounts, Valuations, the Aggregate Loan to Value Ratio or the Aggregate Debt Service Coverage Ratio shall, unless resulting from the concurrent removal of Collateral from the Collateral Pool, result in a Potential Event of Default or Event of Default, require the prepayment of any Advances, require the addition of Collateral to the Collateral Pool, or preclude the request of a Rollover Variable Advance.

Monitoring Determinations. Once each Calendar Quarter or, if a Collateral Pool consists only of Fixed Loans that have an Aggregate Debt Service Coverage Ratio equal to or greater than 1.25:1.0, once each Calendar Year, within twenty (20) Business Days after Borrower has delivered to Lender Xxxxxx Mae the reports required in Section 6.03, Lender Xxxxxx Xxx shall determine the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio for such Collateral Pool, and whether Borrower is in compliance with the other covenants set forth in the Loan DocumentsDocuments and the Guaranty. After a Collateral Event with respect to the relevant Collateral Pool, Lender Xxxxxx Mae shall redetermine Allocable Loan Amounts and Valuations for such Collateral Pool. Lender Xxxxxx Xxx shall determine Cap Rates when determining Valuations in its sole and absolute discretion on the basis of its internal survey and analysis of Cap Rates for comparable sales in the vicinity of the Mortgaged Property, with such adjustments as Lender deems Xxxxxx Xxx xxxxx appropriate and shall not be obligated to use any information provided by Borrower. Lender Xxxxxx Xxx shall promptly disclose its determinations to the applicable Collateral Pool Borrower. Until redetermined, the Allocable Loan Amounts and Valuations determined by Lender Xxxxxx Mae shall remain in effect. In performing a Valuation of a Multifamily Residential Property to be added to any Collateral Pool as part of a Substitution, Lender Xxxxxx Xxx shall be entitled to obtain an Appraisal, and the Valuation will be based on such Appraisal. Lender Xxxxxx Mae shall also have the right to obtain an Appraisal or a Cap Rate study conducted by an appraiser in connection with the redetermination of a Valuation of a Mortgaged Property if Lender Xxxxxx Xxx is unable to determine a Cap Rate for such Mortgaged Property.

Monitoring Determinations. Once each Calendar Quarter or, if a Collateral Pool consists only of Fixed Loans that have an Aggregate Debt Service Coverage Ratio equal to or greater than 1.25:1.0, once each Calendar Year, within twenty (20) Business Days after Borrower has delivered to Lender the reports required in Section 6.037.03, Lender shall determine the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio for such Collateral PoolRatio, the Valuations and whether Borrower is in compliance with the other covenants set forth in the Loan Documents. After a Collateral Event with respect to the relevant Collateral PoolFirst Anniversary, on an annual basis, and if Lender reasonably decides that changed market or property conditions warrant, Lender shall redetermine Allocable Loan Amounts and Valuations for such Collateral Pooldetermine Valuations. In determining Valuations, Lender shall determine use Cap Rates when determining Valuations in its sole and absolute discretion based on the basis of its internal survey and analysis of Cap Rates cap rates for comparable sales in the vicinity of the Mortgaged Property, with such adjustments as Lender deems appropriate and shall not be obligated without any obligation to use any information provided by Borrower. Lender shall promptly disclose its determinations to the applicable Collateral Pool Borrower. Until redetermined, the Allocable Loan Amounts and Valuations determined by Lender shall remain in effect. In performing a Valuation of a Multifamily Residential Property to be added to any Collateral Pool as part of a Substitution, Lender shall be entitled to obtain an Appraisal, and the Valuation will be based on such Appraisal. Lender shall also have the right to obtain an Appraisal or a Cap Rate study conducted by an appraiser in connection with the redetermination of a Valuation of a Mortgaged Property if If Lender is unable to determine a Cap Rate for such a Mortgaged Property, Lender shall have the right, not more than once annually, to obtain, at Borrower’s expense (at a cost not to exceed the cost for similar studies required by Lender for loans sold to Fxxxxx Mxx), a market study in order to establish a Cap Rate. Lender shall promptly disclose its determinations to Borrower. Until redetermined, the outstanding Valuations shall remain in effect. Notwithstanding anything in this Agreement to the contrary, no change in the Aggregate Loan to Value Ratio or the Aggregate Debt Service Coverage Ratio shall, unless resulting from the removal of Collateral from the Collateral Pool, (5) result in a Potential Event of Default or Event of Default, (6) require the prepayment of any Advances, or (7) require the addition of Collateral to the Collateral Pool.

Monitoring Determinations. Once each Calendar Quarter or, if a Collateral Pool the Commitment consists only of a Fixed Loans that have an Aggregate Debt Service Coverage Ratio equal to or greater than 1.25:1.0Facility Commitment, once each Calendar Year, within twenty (20) Business Days after Borrower has delivered to Lender the reports required in Section 6.038.03, Lender shall determine the Aggregate Debt Service Coverage Ratio and Ratio, the Aggregate Loan to Value Ratio for such Collateral PoolRatio, the Valuations and the Allocable Facility Amounts and whether Borrower is in compliance with the other covenants set forth in the Loan Documents. After a Collateral Event with respect to the relevant Collateral PoolFirst Anniversary, on an annual basis, and if Lender decides that changed market or property conditions warrant, Lender shall redetermine Allocable Loan Facility Amounts and Valuations for such Collateral PoolValuations. Lender shall determine also redetermine Allocable Facility Amounts to take account of any addition or release of Collateral or other event that invalidates the outstanding determinations. In Master Credit Facility Agreement Camden 2008 determining Valuations, Lender shall use Cap Rates when determining Valuations in its sole and absolute discretion based on the basis of its internal survey and analysis of Cap Rates cap rates for comparable sales in the vicinity of the Mortgaged Property, with such adjustments as Lender deems appropriate and shall not be obligated without any obligation to use any information provided by Borrower. Lender shall promptly disclose its determinations to the applicable Collateral Pool Borrower. Until redetermined, the Allocable Loan Amounts and Valuations determined by Lender shall remain in effect. In performing a Valuation of a Multifamily Residential Property to be added to any Collateral Pool as part of a Substitution, Lender shall be entitled to obtain an Appraisal, and the Valuation will be based on such Appraisal. Lender shall also have the right to obtain an Appraisal or a Cap Rate study conducted by an appraiser in connection with the redetermination of a Valuation of a Mortgaged Property if If Lender is unable to determine a Cap Rate for such a Mortgaged Property, Lender shall have the right, with the prior consent of Borrower, not more than once annually, to obtain, at Borrower’s expense, a market study in order to establish a Cap Rate. In the event Borrower fails to consent to Lender obtaining a market study, Lender shall determine the Cap Rate in its sole discretion. Lender shall promptly disclose its determinations to Borrower. Until redetermined, the outstanding Allocable Facility Amounts and Valuations shall remain in effect. Notwithstanding anything in this Agreement to the contrary, no change in Allocable Facility Amounts, Valuations, the Aggregate Loan to Value Ratio or the Aggregate Debt Service Coverage Ratio shall, unless resulting from the concurrent removal of Collateral from the Collateral Pool, (1) result in a Potential Event of Default or Event of Default, (2) require the prepayment of any Advances, (3) require the addition of Collateral to the Collateral Pool, or (4) preclude the request of a Rollover Variable Advance.

Monitoring Determinations. Once each Calendar Quarter or, if a Collateral Pool consists only of Fixed Loans that have an Aggregate Debt Service Coverage Ratio equal to or greater than 1.25:1.0, once each Calendar Year, within twenty (20) Business Days after Borrower has delivered to Lender Xxxxxx Mae the reports required in Section 6.03, Lender Xxxxxx Xxx shall determine the Aggregate Debt Service Coverage Ratio and the Aggregate Loan to Value Ratio for such Collateral Pool, and whether Borrower is in compliance with the other covenants set forth in the Loan Documents. After a Collateral Event with respect to the relevant Collateral Pool, Lender Xxxxxx Mae shall redetermine Allocable Loan Amounts and Valuations for such Collateral Pool. Lender Xxxxxx Xxx shall determine Cap Rates when determining Valuations in its sole and absolute discretion on the basis of its internal survey and analysis of Cap Rates for comparable sales in the vicinity of the Mortgaged Property, with such adjustments as Lender deems Xxxxxx Xxx xxxxx appropriate and shall not be obligated to use any information provided by Borrower. Lender Xxxxxx Xxx shall promptly disclose its determinations to the applicable Collateral Pool Borrower. Until redetermined, the Allocable Loan Amounts and Valuations determined by Lender Xxxxxx Mae shall remain in effect. In performing a Valuation of a Multifamily Residential Master Credit Facility Agreement Jupiter EQR Credit Facility Property to be added to any Collateral Pool as part of a Substitution, Lender Xxxxxx Xxx shall be entitled to obtain an Appraisal, and the Valuation will be based on such Appraisal. Lender Xxxxxx Mae shall also have the right to obtain an Appraisal or a Cap Rate study conducted by an appraiser in connection with the redetermination of a Valuation of a Mortgaged Property if Lender Xxxxxx Xxx is unable to determine a Cap Rate for such Mortgaged Property.