No Obligation to Apply Proceeds; No Cure. Nothing in this Section shall obligate Xxxxxx Mae to apply all or any portion of the proceeds of the Letter of Credit to cure any default under the Loan Documents or to reduce the indebtedness evidenced by any Note. No application of proceeds of the Letter of Credit by Xxxxxx Xxx shall be deemed to cure any default.
Appears in 3 contracts
Samples: Master Credit Facility Agreement (Camden Property Trust), Master Credit Facility Agreement (Camden Property Trust), Master Credit Facility Agreement (Camden Property Trust)
No Obligation to Apply Proceeds; No Cure. Nothing in this Section shall obligate Xxxxxx Mae Xxx to apply all or any portion of the proceeds of the Letter of Credit to cure any default under the Loan Documents or to reduce the indebtedness evidenced by any Note. No application of proceeds of the Letter of Credit by Xxxxxx Xxx Mae shall be deemed to cure any default.
Appears in 1 contract
Samples: Master Credit Facility Agreement (Camden Property Trust)
No Obligation to Apply Proceeds; No Cure. Nothing in this Section shall obligate Xxxxxx Mae Xxx to apply all or any portion of the proceeds of the Letter of Credit to cure any default under the Loan Borrower Documents or to reduce the indebtedness evidenced by any Note. No application of proceeds of the Letter of Credit by Xxxxxx Xxx Mae shall be deemed to cure any default.
Appears in 1 contract
Samples: Master Reimbursement Agreement (Mid America Apartment Communities Inc)
