Tax Fair Market Value. The Loan Amount with respect to the Facility does not exceed the Tax Fair Market Value of the Facility. If a Note with respect to the Facility is significantly modified prior to the closing date of a Securitization so as to result in a taxable exchange under Code Section 1001, Borrower will, if requested by Lender, represent that the amount of such Note does not exceed the Tax Fair Market Value of the Facility as of the date of such significant modification.
Appears in 3 contracts
Samples: Loan Agreement (Mark Centers Trust), Loan Agreement (Hallwood Realty Partners L P), Loan Agreement (Burnham Pacific Properties Inc)
Tax Fair Market Value. The Each Allocated Loan Amount with respect to the relevant Facility does not exceed the Tax Fair Market Value of the such Facility. If a the Note with respect to the Facility is significantly modified prior to the closing date of a Securitization so as to result in a taxable exchange under Code Section 1001, Borrower will, if requested by Lender, represent that the amount of such Note each Allocated Loan Amount does not exceed the Tax Fair Market Value of the relevant Facility as of the date of such significant modification.
Appears in 2 contracts
Samples: Loan Agreement (Alternative Living Services Inc), Loan Agreement (Alternative Living Services Inc)
Tax Fair Market Value. The Loan Amount with respect to the --------------------- Facility does not exceed the Tax Fair Market Value of the Facility. If a Note with respect to the Facility is significantly modified prior to the closing date of a Securitization so as to result in a taxable exchange under Code Section 1001, Borrower Operator will, if requested by Lender, represent that the amount of such Note does not exceed the Tax Fair Market Value of the Facility as of the date of such significant modification.
Appears in 2 contracts
Samples: Loan Agreement (Brookdale Living Communities Inc), Loan Agreement (Brookdale Living Communities Inc)
Tax Fair Market Value. The Each Allocated Loan Amount with --------------------- respect to the relevant Facility does not exceed the Tax Fair Market Value of the such Facility. If a the Note with respect to the Facility is significantly modified prior to the closing date of a Securitization so as to result in a taxable exchange under Code Section 1001, Borrower will, if requested by Lender, represent that the amount of such Note each Allocated Loan Amount does not exceed the Tax Fair Market Value of the relevant Facility as of the date of such significant modification.
Appears in 1 contract
Samples: Loan Agreement (G&l Realty Corp)
Tax Fair Market Value. The Loan Amount with respect to the Facility does not exceed the Tax Fair Market Value of the Facility. If a Note with respect to the Facility is significantly modified prior to the closing date of a Securitization so as to result in a taxable exchange under Code Section 1001, Borrower Operator will, if requested by Lender, represent that the amount of such Note does not exceed the Tax Fair Market Value of the Facility as of the date of such significant modification.
Appears in 1 contract
