Common use of Extraordinary Operating Expenses Clause in Contracts

Extraordinary Operating Expenses. During any Low Debt Yield Period, in the event that Borrower incurs or is required to incur an extraordinary operating expense not set forth in the Approved Annual Budget relating to the Properties (each an “Extraordinary Operating Expense”), then Borrower shall promptly deliver to Lender a reasonably detailed explanation of such proposed Extraordinary Operating Expense for Lender’s approval. Any Extraordinary Operating Expense approved by Lender is referred to herein as an “Approved Extraordinary Operating Expense”. Any Funds distributed to Borrower for the payment of Approved Extraordinary Operating Expenses pursuant to Section 6.8.1 shall be used by Borrower only to pay for such Approved Extraordinary Operating Expenses or reimburse Borrower for such Approved Extraordinary Operating Expenses, as applicable.

Extraordinary Operating Expenses. During any Low Debt Yield the continuance of a Trigger Period, in the event that Mortgage Borrower incurs or is required to incur an extraordinary operating expense not set forth in the Approved Annual Budget relating to the Properties (each an “Extraordinary Operating Expense”), then Borrower shall promptly deliver to Lender a reasonably detailed explanation of such proposed Extraordinary Operating Expense for Lender’s approval. Any Extraordinary Operating Expense approved by Lender is referred to herein as an (“Approved Extraordinary Operating Expense”). Any Borrower shall cause any Funds distributed to Mortgage Borrower for the payment of Approved Extraordinary Operating Expenses pursuant to Section 6.8.1 shall 6.9.1 of the Mortgage Loan Agreement to be used by Mortgage Borrower only to pay for such Approved Extraordinary Operating Expenses or reimburse Mortgage Borrower for such Approved Extraordinary Operating Expenses, as applicable.

Extraordinary Operating Expenses. During any Low Debt Yield Period, in In the event that Borrower or Mortgage Borrower incurs or is required to incur an extraordinary operating expense not set forth in the Approved Annual Budget relating to the Properties Property (each an “Extraordinary Operating Expense”), then Borrower shall promptly deliver to Lender Agent a reasonably detailed explanation of such proposed Extraordinary Operating Expense for LenderAgent’s approval. Any Extraordinary Operating Expense approved by Lender Agent is referred to herein as an “Approved Extraordinary Operating Expense”. Any Funds distributed to Borrower or Mortgage Borrower for the payment of Approved Extraordinary Operating Expenses pursuant to Section 6.8.1 6.9.1 shall be used by Borrower or Mortgage Borrower only to pay for such Approved Extraordinary Operating Expenses or reimburse Borrower or Mortgage Borrower for such Approved Extraordinary Operating Expenses, as applicable.

Extraordinary Operating Expenses. During any Low DSCR Period or Low Debt Yield Period, in the event that Borrower incurs or is required to incur an extraordinary operating expense not set forth in the Approved Annual Budget relating to the Properties (each an “Extraordinary Operating Expense”), then Borrower shall promptly deliver to Lender a reasonably detailed explanation of such proposed Extraordinary Operating Expense for Lender’s approval. Any Extraordinary Operating Expense approved by Lender is referred to herein as an “Approved Extraordinary Operating Expense”. Any Funds distributed to Borrower for the payment of Approved Extraordinary Operating Expenses pursuant to Section 6.8.1 shall be used by Borrower only to pay for such Approved Extraordinary Operating Expenses or reimburse Borrower for such Approved Extraordinary Operating Expenses, as applicable.

Extraordinary Operating Expenses. During any Low Debt Yield Period, in the event that Borrower incurs or is required to incur an extraordinary operating expense not set forth in the Approved Annual Budget relating to the Properties (each an “Extraordinary Operating Expense”), then Borrower shall promptly deliver to Lender Administrative Agent a reasonably detailed explanation of such proposed Extraordinary Operating Expense for LenderAdministrative Agent’s approval. Any Extraordinary Operating Expense approved by Lender Administrative Agent is referred to herein as an “Approved Extraordinary Operating Expense”. Any Funds distributed to Borrower for the payment of Approved Extraordinary Operating Expenses pursuant to Section 6.8.1 shall be used by Borrower only to pay for such Approved Extraordinary Operating Expenses or reimburse Borrower for such Approved Extraordinary Operating Expenses, as applicable.

Extraordinary Operating Expenses. During any Low Debt Yield DSCR Period, in the event that Borrower incurs or is required to incur an extraordinary operating expense not set forth in the Approved Annual Budget relating to the Properties (each an “Extraordinary Operating Expense”), then Borrower shall promptly deliver to Lender a reasonably detailed explanation of such proposed Extraordinary Operating Expense for LenderXxxxxx’s approval. Any Extraordinary Operating Expense approved by Lender Xxxxxx is referred to herein as an “Approved Extraordinary Operating Expense”. Any Funds funds distributed to Borrower for the payment of Approved Extraordinary Operating Expenses pursuant to Section 6.8.1 shall be used by Borrower only to pay for such Approved Extraordinary Operating Expenses or reimburse Borrower for such Approved Extraordinary Operating Expenses, as applicable.

Extraordinary Operating Expenses. During any Low Debt Yield the continuance of a Trigger Period, in the event that Borrower incurs or is required to incur an extraordinary operating expense not set forth in the Approved Annual Budget relating to the Properties (each an “"Extraordinary Operating Expense”"), then Borrower shall promptly deliver to Lender a reasonably detailed explanation of such proposed Extraordinary Operating Expense for Lender’s 's approval. Any Extraordinary Operating Expense approved by Lender (such approval not to be unreasonably withheld so long as no Event of Default is continuing) is referred to herein as an “("Approved Extraordinary Operating Expense”"). Any Funds funds distributed to Borrower for the payment of Approved Extraordinary Operating Expenses pursuant to Section 6.8.1 6.12.1 shall be used by Borrower only to pay for such Approved Extraordinary Operating Expenses or reimburse Borrower for such Approved Extraordinary Operating Expenses, as applicable.

Extraordinary Operating Expenses. During any Low Debt Yield the continuance of a Trigger Period, in the event that Borrower incurs or is required to incur an extraordinary operating expense not set forth in the Approved Annual Budget relating to the Properties (each an “Extraordinary Operating Expense”), then Borrower shall promptly deliver to Lender a reasonably detailed explanation of such proposed Extraordinary Operating Expense for Lender’s approval. Any Extraordinary Operating Expense approved by Lender is referred to herein as an “Approved Extraordinary Operating Expense”. Any Funds distributed to Borrower for the payment of Approved Extraordinary Operating Expenses pursuant to Section 6.8.1 6.12.1 shall be used by Borrower only to pay for such Approved Extraordinary Operating Expenses or reimburse Borrower for such Approved Extraordinary Operating Expenses, as applicable.