Adjustments to Rate Cap Agreement Reserve Fund. Lender will recompute annually the amount of the Rate Cap Agreement Reserve Deposit based on Lender’s estimation of the cost of the Replacement Cap Agreement (or extension or renewal of the existing Cap Agreement) and will provide Notice to Borrower of any revised Rate Cap Agreement Reserve Deposit amount.
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.)
Adjustments to Rate Cap Agreement Reserve Fund. Lender will recompute annually every six (6) months the amount of the Rate Cap Agreement Reserve Deposit based on Lender’s estimation of the cost of the Replacement Cap Agreement (or extension or renewal of the existing Cap Agreement) and will provide Notice to Borrower of any revised Rate Cap Agreement Reserve Deposit amount.
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (NorthStar Healthcare Income, Inc.)
