Pool Obligations definition
Examples of Pool Obligations in a sentence
Any amount payable to the Indemnified Parties under this Section 8.07 shall (a) be deemed a demand obligation, (b) be part of the Pool Obligations, (c) bear interest from the date of demand at the Default Rate, until paid if not paid on demand, and (d) be secured by the Documents.
Borrowers and all others who may become liable for the payment of all or any part of the Pool Obligations (defined below) do hereby severally waive presentment and demand for payment, notice of dishonor, protest and notice of protest, notice of non-payment and notice of intent to accelerate the maturity hereof (and of such acceleration).
Upon full payment and satisfaction of the Pool Obligations or, at Lender’s option, at any prior time, the balance of the Deposits in Lender’s possession shall be paid over to the record owner of the Land, and no other party shall have any right or claim to the Deposits.
All (a) sums advanced by or payable to Lender per this Section 4.01 or under applicable Laws, (b) except as expressly provided in the Documents, payments due under the Documents which are not paid in full when due, and (c) Costs, shall: (i) be deemed demand obligations, (ii) if not paid within five (5) days following demand, bear interest from the date of demand at the Default Rate, (iii) be part of, together with such interest, the Pool Obligations, and (iv) be secured by the Documents.
Maintain Cash Pool Availability under each Cash Pool Arrangement in excess of the Cash Pool Obligations outstanding thereunder.
The Cash Pool Availability under each Cash Pool Arrangement exceeds the Cash Pool Obligations outstanding thereunder, and no Cash Pool Bank has made extensions of third party financing pursuant to any Cash Pool Arrangement in excess of the Cash Pool Availability thereunder.
Except to the extent set forth in this Agreement and in the Recourse Liabilities Guaranties executed on the same date of this Agreement by the Recourse Parties (as defined below) other than Borrowers, Borrowers shall not have any personal liability for the Pool Obligations.
As of the date hereof and at all times while the Pool Obligations are outstanding, each Borrower represents and warrants for itself and for Property Manager as follows (it being expressly understood and agreed that each Borrower makes the following representations and warranties solely as to such Borrower’s Individual Property and not as to any other property): Prudential Loan Nos.
Except to the extent set forth in this Agreement, in the Recourse Liabilities Guaranties executed on the same date of this Agreement by the Recourse Parties (as defined below) other than Borrowers and in the Partial Recourse Guaranty executed on the same date of this Agreement by the Recourse Parties other than Borrowers, Borrowers shall not have any personal liability for the Pool Obligations.
No other persons shall have any rights or remedies by reason of this Agreement against any of the parties or shall be third party beneficiaries of this Agreement in any way.