Common use of DSCR Clause in Contracts

DSCR. (a) Notwithstanding anything contained herein to the contrary, Borrower shall have the option to avoid a Triggering Event caused by a DSCR Event, or if such Triggering Event has occurred, Borrower at any time thereafter shall have the option to satisfy the definition of Triggering Event Termination, in either case, by (a) prepaying a portion of the Loan equal to an amount which, had the Loan been prepaid by such amount on the date of the DSCR Event, would result in the DSCR being equal to or greater than the applicable Minimum DSCR for the immediately preceding calendar quarter (the “Optional Minimum DSCR Prepayment”), (b) depositing with Administrative Agent cash or a Letter of Credit in an amount equal to the Optional Minimum DSCR Prepayment which shall be held by Administrative Agent on behalf of the Lenders as additional security for the Loan or (c) delivering a fully executed and enforceable Sweep Guaranty to Administrative Agent. After the occurrence of a Sweep Guaranty Termination Event, any Sweep Guaranty delivered prior to such date shall terminate upon Borrower’s compliance with Section 8.5(c) of this Agreement. (b) In connection with any prepayment made pursuant to Section 9.13(a) above, Borrower shall (i) pay to Administrative Agent any amount owing under Section 2.13 hereof incurred by the Lenders in connection with such prepayment, provided that Administrative Agent shall use reasonable efforts to apply such prepayment in a manner that minimizes any amounts owing under Section 2.13 hereof and (ii) pay any IRPA Termination Fees. (c) If, as of any date that the DSCR is calculated under Section 9.13(a), the DSCR Collateral Amount then held by Administrative Agent shall exceed the DSCR Collateral Amount that Administrative Agent needs to hold to ensure continued compliance by Borrower with Section 9.13(a) (such excess, “DSCR Collateral Excess”), then, provided no Default shall occur and be continuing, Administrative Agent shall return an amount equal to all DSCR Collateral Excess that has existed for two consecutive calendar quarters to Borrower within five (5) Business Days of Borrower’s request therefor.

DSCR. (a) Notwithstanding anything contained herein to the contrary, Borrower shall have the option to avoid a Triggering Event caused by a DSCR Event, or if such Triggering Event has occurred, Borrower at any time thereafter shall have the option to satisfy the definition of Triggering Event Termination, in either case, by (a) prepaying a portion of the Loan (and causing Mezzanine Borrower to make a pro-rata prepayment of the Mezzanine Loan unless such DSCR Event results solely from the occurrence of an event described in clause (ii) of the definition of DSCR Event) equal to an amount which, had the Loan been prepaid by such amount on the date of the DSCR Event, would result in the DSCR being equal to or greater than the applicable Minimum DSCR and the DSCR (Mortgage) being equal to or greater than the applicable Minimum DSCR (Mortgage) for the immediately preceding calendar quarter (the “Optional Minimum DSCR Prepayment”), (b) depositing with Administrative Agent cash or a Letter of Credit in an amount equal to the Optional Minimum DSCR Prepayment which shall be held by Administrative Agent on behalf of the Lenders as additional security for the Loan or (c) delivering a fully executed and enforceable Sweep Guaranty to Administrative Agent. After the occurrence of a Sweep Guaranty Termination Event, any Sweep Guaranty delivered prior to such date shall terminate upon Borrower’s compliance with Section 8.5(c) of this Agreement. (b) In connection with any prepayment made pursuant to Section 9.13(a) above, Borrower shall (i) pay to Administrative Agent any amount owing under Section 2.13 hereof incurred by the Lenders in connection with such prepayment, provided that Administrative Agent shall use reasonable efforts to apply such prepayment in a manner that minimizes any amounts owing under Section 2.13 hereof and (ii) pay any IRPA Termination Fees. (c) If, as of any date that the DSCR is calculated under Section 9.13(a), the DSCR Collateral Amount then held by Administrative Agent shall exceed the DSCR Collateral Amount that Administrative Agent needs to hold to ensure continued compliance by Borrower with Section 9.13(a) (such excess, “DSCR Collateral Excess”), then, provided no Default shall occur and be continuing, Administrative Agent shall return an amount equal to all DSCR Collateral Excess that has existed for two consecutive calendar quarters to Borrower within five (5) Business Days of Borrower’s request therefor.

DSCR. (a) Notwithstanding anything contained herein to the contrary, Borrower shall have the option to avoid a Triggering Event caused by a DSCR Event, or if such Triggering Event has occurred, Borrower at any time thereafter shall have the option to satisfy the definition of Triggering Event Termination, in either case, by (a) prepaying a portion of the Loan equal to an amount which, had the Loan been prepaid by such amount on the date of the DSCR Event, would result in the DSCR being equal to or greater than the applicable Minimum DSCR for the immediately preceding two calendar quarter quarters (the “Optional Minimum DSCR Prepayment”), (b) depositing with Administrative Agent cash or a Letter of Credit in an amount equal to the Optional Minimum DSCR Prepayment which shall be held by Administrative Agent on behalf of the Lenders as additional security for the Loan or (c) delivering a fully executed and enforceable Sweep Guaranty to Administrative Agent. After the occurrence of a Sweep Guaranty Termination Event, any Sweep Guaranty delivered prior to such date shall terminate upon Borrower’s compliance with Section 8.5(c) of this Agreement. (b) In connection with any prepayment made pursuant to Section 9.13(a) above, Borrower shall (i) pay to Administrative Agent any amount owing under Section 2.13 hereof incurred by the Lenders in connection with such prepayment, provided that Administrative Agent shall use reasonable efforts to apply such prepayment in a manner that minimizes any amounts owing under Section 2.13 hereof and (ii) pay any IRPA Termination Fees. (c) If, as of any date that the DSCR is calculated under Section 9.13(a), the DSCR Collateral Amount then held by Administrative Agent shall exceed the DSCR Collateral Amount that Administrative Agent needs to hold to ensure continued compliance by Borrower with Section 9.13(a) (such excess, “DSCR Collateral Excess”), then, provided no Default shall occur and be continuing, Administrative Agent shall return an amount equal to all DSCR Collateral Excess that has existed for two consecutive calendar quarters to Borrower within five (5) Business Days of Borrower’s request therefor.