Common use of Additional Indebtedness of Residential Properties Clause in Contracts

Additional Indebtedness of Residential Properties. Indebtedness for borrowed money incurred in connection with the financing or refinancing of any residential property that is a Qualified Real Estate Interest by the Borrower or one or more of its wholly-owned Subsidiaries (if the Borrower or any such Subsidiary is the borrower of the Indebtedness secured thereby), or by the Borrower’s Member or one or more of its wholly-owned Subsidiaries (other than the Borrower or its wholly-owned Subsidiaries) (if the Borrower’s Member or any such wholly-owned Subsidiary of the Borrower’s Member is the borrower of the Indebtedness secured thereby), but only if such Indebtedness satisfies the following requirements:

Additional Indebtedness of Residential Properties. Indebtedness for borrowed money incurred in connection with the financing or refinancing of any residential property that is a Qualified Real Estate Interest of the Residential Properties by the Borrower or one or more of its wholly-owned Subsidiaries (if the Borrower or any such Subsidiary is the borrower of the Indebtedness secured thereby), or by the Borrower’s Member or one or more of its wholly-owned Subsidiaries (other than the Borrower or its wholly-owned Subsidiaries) (if the Borrower’s Member or any such wholly-owned Subsidiary of the Borrower’s Member is the borrower of the Indebtedness secured thereby), but only if such Indebtedness satisfies the following requirements: