Nature of Lenders’ Obligations. The obligations of Lenders under this Agreement are several, and no Lender shall be responsible for the failure of any other Lender to make any advance of the Loan to be made by such other Lender. However, the failure of any Lender to make any advance of the Loan to be made by it hereunder on the date specified therefor shall not relieve any other Lender of its obligation to make any advance of its portion of the Loan specified hereby to be made on such date.
Appears in 4 contracts
Samples: Assignment and Assumption Agreement (Acadia Realty Trust), Revolving Loan Agreement (Acadia Realty Trust), Assignment and Assumption Agreement (Acadia Realty Trust)
Nature of Lenders’ Obligations. The obligations of Lenders under this Agreement are several, and no Lender shall be responsible for the failure of any other Lender to make any advance of the a Loan to be made by such other Lender. However, the failure of any Lender to make any advance of the Loan to be made by it hereunder on the date specified therefor shall not relieve any other Lender of its obligation to make any advance of its portion of the Loan specified hereby to be made on such date.
Appears in 2 contracts
Samples: Assignment and Assumption Agreement (Acadia Realty Trust), Acadia Realty Trust
Nature of Lenders’ Obligations. The obligations of Lenders under this Agreement are several, and no Lender shall be responsible for the failure of any other Lender to make any advance funding of the a Loan to be made by such other Lender. However, the failure of any Lender to make any advance funding of the Loan to be made by it hereunder on the date specified therefor shall not relieve any other Lender of its obligation to make any advance funding of its portion of the Loan specified hereby to be made on such date.
Appears in 1 contract
Samples: Assignment and Assumption Agreement (Reckson Associates Realty Corp)
