Common use of Obligation to Prepay Revolving Advances Clause in Contracts

Obligation to Prepay Revolving Advances. If, after the conversion, the aggregate unpaid principal balance of all Revolving Advances Outstanding will exceed the Revolving Facility Commitment, the Borrower shall be obligated to prepay, as a condition precedent to the conversion, an amount of Revolving Advances Outstanding which is at least equal to the amount of the excess.

Appears in 3 contracts

Samples: Master Credit Facility Agreement (United Dominion Realty Trust Inc), Master Credit Facility Agreement (United Dominion Realty Trust Inc), Master Credit Facility Agreement (United Dominion Realty Trust Inc)

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Obligation to Prepay Revolving Advances. If, after the conversion, the aggregate unpaid principal balance of all Revolving Advances Outstanding will exceed the Revolving Facility Commitment, the Borrower shall be obligated to prepay, as a condition precedent to the conversion, an amount of Revolving Advances Outstanding which is at least equal to the amount of the excess. The Borrower shall also pay any prepayment premium payable on account of such prepayment in accordance with the terms of the Revolving Facility Note.

Appears in 1 contract

Samples: Master Credit Facility Agreement (Walden Residential Properties Inc)

Obligation to Prepay Revolving Advances. If, after the conversion, the --------------------------------------- aggregate unpaid principal balance of all Revolving Advances Outstanding will exceed the Revolving Facility Commitment, the Borrower shall be obligated to prepay, as a condition precedent to the conversion, an amount of Revolving Advances Outstanding which is at least equal to the amount of the excess.

Appears in 1 contract

Samples: Agreement (United Dominion Realty Trust Inc)

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Obligation to Prepay Revolving Advances. If, after the --------------------------------------- conversion, the aggregate unpaid principal balance of all Revolving Advances Outstanding will exceed the Revolving Facility Commitment, the Borrower shall be obligated to prepay, as a condition precedent to the conversion, an amount of Revolving Advances Outstanding which is at least equal to the amount of the excess.

Appears in 1 contract

Samples: Credit Facility Agreement (United Dominion Realty Trust Inc)

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