Common use of Payments Received Under this Agreement Clause in Contracts

Payments Received Under this Agreement. Notwithstanding anything to the contrary contained in this Agreement or the other Loan Documents, and provided no Event of Default has occurred and is continuing, Borrower's obligations with respect to the monthly payment of Debt Service and amounts due for the Tax and Insurance Escrow Fund, Required Repair Fund, Replacement Escrow Fund, and any other payment reserves established pursuant to this Agreement or any other Loan Document shall (provided Lender is not prohibited from withdrawing or applying any funds in the Accounts by Applicable Law or otherwise) be deemed satisfied to the extent sufficient amounts are deposited in the Lockbox Account established pursuant to this Agreement to satisfy such obligations on the dates each such payment is required, regardless of whether any of such amounts are so applied by Lender.

Appears in 1 contract

Samples: Loan Agreement (Felcor Lodging Trust Inc)

AutoNDA by SimpleDocs

Payments Received Under this Agreement. Notwithstanding anything to the contrary contained in this Agreement or the other Loan Documents, and provided no Event of Default has occurred and is continuing, Borrower's ’s obligations with respect to the monthly payment of deposits required to be made to the Debt Service and amounts due for Fund, the Tax and Insurance Escrow Fund, Required Repair Fund, Replacement Ground Rent Escrow Fund, Fund and any other payment reserves established pursuant to this Agreement or any other Loan Document shall (provided Lender is not prohibited from withdrawing or applying any funds in the Accounts by Applicable Law or otherwise) be deemed satisfied to the extent sufficient amounts are deposited in the Lockbox Account established pursuant to this Agreement to satisfy such obligations on the dates each such payment is required, regardless of whether any of such amounts are so applied by Lender.

Appears in 1 contract

Samples: Senior Loan Agreement (Hyatt Hotels Corp)

Payments Received Under this Agreement. Notwithstanding -------------------------------------- anything to the contrary contained in this Agreement or the other Loan Documents, and provided no Event of Default has occurred and is continuing, Borrower's obligations with respect to the monthly payment of Debt Service and amounts due for the Ground Lease Escrow Fund, Tax and Insurance Escrow Fund, Required Repair Fund, Replacement Escrow Fund, Reserve Fund and any other payment reserves established pursuant to this Agreement or any other Loan Document shall (provided Lender is not prohibited from withdrawing or applying any funds in the Accounts by Applicable Law operation of law or otherwise) be deemed satisfied (and no Default or Event of Default shall result therefrom) to the extent sufficient amounts are deposited in the Lockbox Account established pursuant to this Agreement to satisfy such obligations on the dates each such payment is required, regardless of whether any of such amounts are so applied by Lender.

Appears in 1 contract

Samples: Loan Agreement (Wyndham International Inc)

Payments Received Under this Agreement. Notwithstanding anything to the contrary contained in this Agreement or the other Loan Documents, and provided no Event of Default has occurred and is continuing, at any time Borrower is required, pursuant to the terms and conditions of this Agreement, to make deposits into applicable Accounts maintained by Lender, Borrower's ’s obligations with respect to the monthly payment of Debt Service and amounts due for the Tax and Insurance Escrow Fund, Required Repair Fund, Replacement Escrow Fund, and any other payment reserves established pursuant to this Agreement or any other Loan Document Accounts shall (provided Lender is not prohibited from withdrawing or applying any funds in the applicable Accounts by Applicable Law operation of law or otherwise) be deemed satisfied to the extent sufficient amounts are deposited in the Lockbox Account established pursuant to this Agreement applicable Accounts to satisfy such obligations on the dates each such payment is required, regardless of whether any of such amounts are so applied by Lender.. Section 8.4

Appears in 1 contract

Samples: Loan Agreement (Silver Star Properties Reit, Inc)

AutoNDA by SimpleDocs

Payments Received Under this Agreement. Notwithstanding anything to the contrary contained in this Agreement or the other Loan Documents, and provided no Event of Default has occurred and is continuingcontinuing and Lender has not accelerated the Loan, Borrower's ’s obligations with respect to the monthly payment of Debt Service and amounts due for the Tax and Insurance Escrow Fund, Required Repair Fund, Replacement Escrow Fund, and any other payment reserves established pursuant to this Agreement or any other Loan Document shall (provided Lender is not prohibited from withdrawing or applying any funds in the Accounts by Applicable Law or otherwise) be deemed satisfied to the extent sufficient amounts are deposited in the Lockbox Account established pursuant to this Agreement to satisfy such obligations on the dates each such payment is requiredrequired and Lender has the ability to withdraw such sums and apply same to the payment of such obligations, regardless of whether any of such amounts are so applied by Lender.

Appears in 1 contract

Samples: Loan Agreement (Cb Richard Ellis Realty Trust)

Time is Money Join Law Insider Premium to draft better contracts faster.