Common use of Revocation of Waiver Clause in Contracts

Revocation of Waiver. Lender’s waiver of the Required Escrow Payments shall, at the option of Lender, be revoked upon the occurrence of any of the following events: (i) the occurrence of an Event of Default or a Potential Event of Default; or (ii) any Borrower shall fail to perform its obligations under Section 13.01(a). (iii) failure by any Borrower to (A) participate in a blanket insurance policy that complies with Xxxxxx Mae’s insurance requirements and (B) annually furnish signed insurance binders to Lender within fifteen (15) days prior to the insurance renewal date.

Revocation of Waiver. Lender’s waiver of the Required Insurance Escrow Payments shall, at the option of Lender, be revoked upon the occurrence of any of the following events: (i) the occurrence of an Event of Default or a Potential Event of Default; or (ii) any Borrower shall fail to perform its obligations under Section 13.01(a). (iii) failure by any Borrower to (A) participate in a blanket insurance policy that complies with Xxxxxx Fxxxxx Mae’s insurance requirements and (B) annually furnish signed insurance binders to Lender within fifteen (15) days prior to the insurance renewal date.

Revocation of Waiver. Lender’s waiver of the Required Escrow Payments shall, at the option of Lender, be revoked upon the occurrence of any of the following events: (i) the occurrence of an Event of Default or a Potential Event of Default; or (ii) any Borrower shall fail to perform its obligations under Section 13.01(a). (iii) failure by any Borrower to (A) participate in a blanket insurance policy that complies with Xxxxxx Mae’s insurance requirements and (B) annually furnish signed insurance binders to Lender within fifteen (15) days prior to the insurance renewal date.