Automatic Deduction and Credit. (a) At all times when any Swap Contract is in effect, Borrower shall maintain the Checking Account in good standing with Lender. Borrower hereby grants to Lender and Swap Counterparty a security interest in the Checking Account, and any other accounts and deposit accounts from which Borrower may from time to time authorize Lender to debit payments due on the Loan and the Swap Contracts. Borrower is granting this security interest to Lender and Swap Counterparty for the purpose of securing the Obligations.
Appears in 10 contracts
Samples: Loan Agreement, Term Loan Agreement, Term Loan Agreement (Resource Real Estate Opportunity REIT II, Inc.)
Automatic Deduction and Credit. (a) At all times when any Swap Contract is in effect, the Borrower which is a party to such Swap Contract shall maintain the Checking Account in good standing with Lender. Each Borrower hereby grants to Lender and Swap Counterparty a security interest in the any such Checking Account, and any other accounts and deposit accounts from which Borrower may from time to time authorize Lender to debit payments due on the Loan and the Swap Contracts. Each Borrower is granting this security interest to Lender and Swap Counterparty for the purpose of securing the Obligations.
Appears in 3 contracts
Samples: Term Loan Agreement (KBS Strategic Opportunity REIT, Inc.), Term Loan Agreement (KBS Strategic Opportunity REIT, Inc.), Term Loan Agreement (KBS Real Estate Investment Trust III, Inc.)
Automatic Deduction and Credit. (a) At all times when any Swap Contract is in effect, Borrower shall maintain the Checking Account in good standing with Lender. Borrower hereby grants to Lender and Swap Counterparty a security interest in the Checking Account, and any other accounts and deposit accounts from which Borrower may from time to time authorize Lender to debit payments due on the Loan and the Swap Contracts. Borrower is granting this security interest to Lender and Swap Counterparty for the purpose of securing the Obligations.
Appears in 3 contracts
Samples: Term Loan Agreement, Term Loan Agreement (KBS Strategic Opportunity REIT, Inc.), Term Loan Agreement (KBS Real Estate Investment Trust III, Inc.)
Automatic Deduction and Credit. (a) At all times when any Swap Contract is in effect, Borrower shall maintain the Checking Account in good standing with Lender. Borrower hereby grants to Lender and Swap Counterparty a security interest in the Checking Account, and any other accounts and deposit accounts from which Borrower may from time to time authorize Lender to debit payments due on the Loan and Loana nd the Swap Contracts. Borrower is granting this security interest to Lender and Swap Counterparty for the purpose of securing the Obligations.
Appears in 1 contract
Samples: Construction Loan Agreement (American Retirement Corp)
