Common use of Payment of Basic Carrying Costs Clause in Contracts

Payment of Basic Carrying Costs. At least five (5) Business Days ------------------------------- prior to the due date of any Basic Carrying Cost, and not more frequently than once each Interest Accrual Period, Operator shall notify Lender in writing and request that Lender pay such Basic Carrying Cost on behalf of Borrower and Operator on or prior to the due date thereof. Together with each such request, Operator shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Basic Carrying Cost is then due. Lender shall make such payments out of the Basic Carrying Cost Sub-Account before the same shall be delinquent to the extent that there are funds available in the Basic Carrying Cost Sub-Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above.

Appears in 3 contracts

Samples: Loan Agreement (Brookdale Living Communities Inc), Loan Agreement (Brookdale Living Communities Inc), Loan Agreement (Brookdale Living Communities Inc)

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Payment of Basic Carrying Costs. At least five (5) Business Days ------------------------------- prior to the due date of any Basic Carrying Cost, and not more frequently than once each Interest Accrual Period, Operator Borrower shall notify notify, Lender in writing and request that Lender pay such Basic Carrying Cost on behalf of Borrower and Operator on or prior to the due date thereof. Together with each such request, Operator Borrower shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Basic Carrying Cost is then due. Lender shall make such payments out of the Basic Carrying Cost Sub-Account before the same shall be delinquent to the extent that there are funds available in the Basic Carrying Cost Sub-Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above.

Appears in 2 contracts

Samples: Loan Agreement (Burnham Pacific Properties Inc), Loan Agreement (Burnham Pacific Properties Inc)

Payment of Basic Carrying Costs. At least five (5) Business Days ------------------------------- prior to the due date of any Basic Carrying Cost, and not more frequently than once each Interest Accrual Period, Operator shall notify Lender in writing and request that Lender pay such Basic Carrying Cost on behalf of Borrower and Operator on or prior to the due date thereof. Together with each such request, Operator shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Basic Carrying Cost is then due. Lender shall make such payments out of the Basic Carrying Cost Sub-Account before the same shall be delinquent to the extent that there are funds available in the Basic Carrying Cost Sub-Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above.

Appears in 1 contract

Samples: Loan Agreement (Brookdale Living Communities Inc)

Payment of Basic Carrying Costs. At least five (5) Business Days ------------------------------- prior to the due date of any Basic Carrying Cost, Cost and not more frequently than once each Interest Accrual Period, Operator each Borrower shall notify Lender in writing and request that Lender pay such Basic Carrying Cost on behalf of such Borrower and Operator on or prior to the due date thereof. Together with each such request, Operator such Borrower shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Basic Carrying Cost is then due. Lender shall make such payments out of the relevant Basic Carrying Cost Sub-Account before the same shall be delinquent to the extent that there are funds available in the relevant Basic Carrying Cost Sub-Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above.

Appears in 1 contract

Samples: Loan Agreement (Continental Health Affiliates Inc)

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Payment of Basic Carrying Costs. At least five (5) Business Days ------------------------------- prior to the due date of any Basic Carrying Cost, and not more frequently than once each Interest Accrual Period, Operator Borrower shall notify Lender in writing and request that Lender pay such Basic Carrying Cost on behalf of Borrower and Operator on or prior to the due date thereof. Together with each such request, Operator Borrower shall furnish Lender with copies of bills and other documentation as may be reasonably required by Lender to establish that such Basic Carrying Cost is then due. Lender shall make such payments out of the Basic Carrying Cost Sub-Account before the same shall be delinquent to the extent that there are funds available in the Basic Carrying Cost Sub-Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above.

Appears in 1 contract

Samples: Loan Agreement (Mark Centers Trust)

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