Payment of Securitization Expenses. To the extent funds are available therein to pay the amounts for which Borrower is responsible pursuant to Section 2.13, Lender may release funds out of the Securitization Expense Sub-Account to (a) pay such amounts or, (b) after Lender has paid all of the amounts for which Borrower is responsible pursuant to Section 2.13, provided no Default or Event of Default has occurred and is continuing, refund to Borrower all amounts remaining in the Securitization Expense Sub-Account.
Appears in 3 contracts
Samples: Loan Agreement (Alternative Living Services Inc), Loan Agreement (Alternative Living Services Inc), Loan Agreement (Hallwood Realty Partners L P)
Payment of Securitization Expenses. To the extent funds are available therein to pay the amounts for which Operator or Borrower is responsible pursuant to Section 2.132.14, Lender may release funds out of the Securitization Expense Sub-Account to (a) pay such amounts or, (b) after Lender has paid all of the amounts for which Borrower is responsible pursuant to Section 2.132.14, provided no Default or Event of Default has occurred and is then continuing, refund to Borrower remit to Operator all amounts remaining in the Securitization Expense Sub-Account.
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Payment of Securitization Expenses. To the extent funds are available therein to pay the amounts for which Borrower is responsible pursuant to Section 2.132.14, Lender may release funds out of the Securitization Expense Sub-Account to (a) pay such amounts or, or (b) after Lender has paid all of the amounts for which Borrower is responsible pursuant to Section 2.132.14, provided no Default or Event of Default has occurred and is continuing, to refund to Borrower all amounts remaining in the Securitization Expense Sub-Account.
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Payment of Securitization Expenses. To the extent funds are available therein to pay the amounts for which Borrower is responsible pursuant to Section 2.132.14, Lender may release funds out of the Securitization Expense Sub-Account to (a) pay such amounts or, (b) after Lender has paid all of the amounts for which Borrower is responsible pursuant to Section 2.132.14, provided no Default or Event of Default has occurred and is continuingoccurred, to refund to Borrower all amounts remaining in the Securitization Expense Sub-Account.
Appears in 1 contract
Samples: Loan Agreement (Mark Centers Trust)