Examples of FIRREA in a sentence
If the Administrative Agent reasonably determines that it is required by applicable law to have appraisals prepared in respect of the Real Property of any Credit Party subject to a mortgage constituting Collateral, the Borrower shall comply with all applicable requirements imposed by law to enable the Administrative Agent to obtain appraisals that satisfy the applicable requirements of the Real Estate Appraisal Reform Amendments of FIRREA.
Tenant shall, prior to granting a Mortgage on the Leasehold Estate, provide Landlord with a then-current appraisal of the Property prepared by an independent MAI appraiser in compliance with FIRREA, in order to support Tenant’s compliance with the foregoing loan to value ratio limits; provided, however, Landlord agrees to accept the Appraisal for this purpose for two (2) years after the Commencement Date.