Prepayment of Rents. Borrower will not collect any Rent more than 30 days in advance of its due date; provided, that the foregoing restriction will not prevent Borrower from collecting both the first and last month’s rent contemporaneously with the execution of a Lease in accordance with customary residential leasing practices.
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Samples: Loan Agreement (Vinebrook Homes Trust, Inc.), Loan Agreement (Reven Housing REIT, Inc.), Loan Agreement (Front Yard Residential Corp)
Prepayment of Rents. Borrower will not collect any Rent more than 30 days in advance of its due datedate except that Borrower may receive and accept Rent more than 30 days in advance of its due date for up to 5% of the total number of the Leases; provided, that the foregoing restriction will not prevent Borrower from collecting both the first and last month’s rent contemporaneously with the execution of a Lease in accordance with customary residential leasing practices. Borrower will maintain a record of any Rents collected more than 30 days in advance, and make such record available to Lender upon request.
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