Termination of Reserve Funds. Upon the earlier to occur of (i) termination of the Credit Agreement pursuant to the terms of Section 2.6 thereof, and (ii) release of the Collateral Pool Property pursuant to the terms of Section 3.2 of the Credit Agreement, Lender will pay to Borrower all funds remaining in any Reserve Funds. Section 5.01 is amended and restated to read as follows:
Appears in 5 contracts
Samples: Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.)
Termination of Reserve Funds. Upon the earlier to occur of (i) termination of the Credit Agreement pursuant to the terms of Section 2.6 2.13 thereof, and (ii) release of the Collateral Pool Mortgaged Property pursuant to the terms of Section 3.2 2.10 of the Credit Agreement, Lender will pay to Borrower all funds remaining in any Reserve Funds.
Section 5.01 is amended and restated to read as follows:
Appears in 3 contracts
Samples: Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Apartment REIT, Inc.)
Termination of Reserve Funds. Upon the earlier to occur of (i) termination of the Credit Agreement pursuant to the terms of Section 2.6 thereof, and (ii) release of the Collateral Pool Property pursuant to the terms of Section 3.2 of the Credit Agreement, Lender will pay to Borrower all funds remaining in any Reserve Funds.
8. Section 5.01 is amended and restated to read as follows:
Appears in 3 contracts
Samples: Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.)
Termination of Reserve Funds. Upon the earlier to occur of (i) termination of the Credit Agreement pursuant to the terms of Section 2.6 thereof, and (ii) release of the Collateral Pool Property pursuant to the terms of Section 3.2 of the Credit Agreement, Lender will pay to Borrower all funds remaining in any Reserve Funds.
Section 5.01 is amended and restated to read as follows:
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.)
