No Release if Event of Default Exists. Notwithstanding the terms hereof, in no event shall Lender have any obligation to disburse funds from the Deposit Account, the Holding Account, the Tax and Insurance Escrow Account or any other Reserve Account for so long as an Event of Default shall have occurred and be continuing.
Appears in 2 contracts
Samples: Loan Agreement (Strategic Hotel Capital Inc), Loan Agreement (Strategic Hotel Capital Inc)
No Release if Event of Default Exists. Notwithstanding the terms hereof, in no event shall Lender have any obligation to disburse funds from the Deposit Account, the Holding Account, the Tax and Insurance Escrow Account or any other Reserve Account for so long as an Event of Default shall have occurred and be continuing.
Appears in 2 contracts
Samples: Loan Agreement (Colony Resorts LVH Acquisitions LLC), Loan Agreement (Colony Resorts LVH Acquisitions LLC)
No Release if Event of Default Exists. Notwithstanding the terms hereof, in no event shall Lender have any obligation to disburse funds from the Deposit Account, the Holding Termination Payment Account, the Security Deposit Account, Low Debt Service Reserve Account, Tax and Insurance Escrow Account or any other Reserve Account for so long as an Event of Default shall have occurred and be continuing.
Appears in 1 contract
