Common use of Failure to Make Payments Clause in Contracts

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (v) of Section 6.7.1(a) in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account for such payments, and Borrowers are not otherwise in Default hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 4 contracts

Samples: Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

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Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (vvi) of Section 6.7.1(a) 6.9.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 4 contracts

Samples: Loan Agreement (Clipper Realty Inc.), Loan Agreement (Clipper Realty Inc.), Loan Agreement (Clipper Realty Inc.)

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (viii) of Section 6.7.1(a) 6.4.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account Accounts for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, the failure by the Deposit Bank Lender to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 2 contracts

Samples: First Mezzanine Loan Agreement (Clipper Realty Inc.), Second Mezzanine Loan Agreement (Clipper Realty Inc.)

Failure to Make Payments. The failure of Borrower to make all of the payments (whether to Lender to any other applicable payee) required under clauses (i) through (vviii) of Section 6.7.1(a) 6.16.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account (as opposed to subaccounts thereof) for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 2 contracts

Samples: Loan Agreement (NOVONIX LTD), Loan Agreement (NOVONIX LTD)

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (viii) of Section 6.7.1(a) 6.7.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 2 contracts

Samples: Loan Agreement (O'Donnell Strategic Industrial REIT, Inc.), Loan Agreement (O'Donnell Strategic Industrial REIT, Inc.)

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (viii) of Section 6.7.1(a6.9(a) in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Mezzanine Cash Management Account for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 2 contracts

Samples: First Mezzanine Loan Agreement (Clipper Realty Inc.), First Mezzanine Loan Agreement (Clipper Realty Inc.)

Failure to Make Payments. The failure of Borrower Borrowers to make all of the payments required under clauses (i) through (vvii) of Section 6.7.1(a) 6.13.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account for such payments, and Borrowers are not otherwise in Default hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 2 contracts

Samples: Loan Agreement (Generation Income Properties, Inc.), Loan Agreement (Generation Income Properties, Inc.)

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (vxi) of Section 6.7.1(a) 6.13.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account for such payments, and Borrowers are not otherwise in Default hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.)

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (viii) of Section 6.7.1(a) 6.4.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Current Mezzanine Deposit Account for such payments, and Borrowers are not otherwise in no other Event of Default shall then exist hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts or thereafter apply such funds for their intended purpose shall not constitute an Event of Default.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (New York REIT, Inc.)

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (vvii) of Section 6.7.1(a) 6.9.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account for such payments, and Borrowers are not otherwise in Default hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Glimcher Realty Trust)

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (vvii) of Section 6.7.1(a6.11.1{a) in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Cash Management Account for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, the failure by the Deposit Cash Management Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Lodging Fund REIT III, Inc.)

Failure to Make Payments. The failure of Borrower (or Manager, as applicable) to make all of the payments required under clauses (i) through (vx) of Section 6.7.1(a) 6.10.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Cash Management Deposit Account for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, the failure by the Cash Management Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Strategic Hotels & Resorts, Inc)

Failure to Make Payments. The failure of Borrower Borrowers to make all of the payments required under clauses (i) through (vvi) of Section 6.7.1(a) 6.7.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are EAST\87098743.3 available in the Deposit Cash Management Account for such payments, and Borrowers are an Event of Default does not otherwise in Default then exist hereunder, the failure by the Deposit Cash Management Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Cole Credit Property Trust V, Inc.)

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (viii) of Section 6.7.1(a) 6.4.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Subordinate Deposit Account for such payments, and Borrowers are not otherwise in Default hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Brookfield DTLA Fund Office Trust Investor Inc.)

Failure to Make Payments. The failure of Borrower Borrowers to make all of the payments required under clauses (i) through (vvii) of Section 6.7.1(a) 6.10.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds 104 are available in the Deposit Account for such payments, payments and Borrowers are not otherwise no other Event of Default is then continuing (subject only to the applicable cure periods expressly set forth in Default hereunderSection 8.1 hereof), the failure by Agent and/or the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Pacific Office Properties Trust, Inc.)

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (vvi) of Section 6.7.1(a) 6.11.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Cash Management Account for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, the failure by the Deposit Cash Management Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Pacific Oak Strategic Opportunity REIT II, Inc.)

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (v) of Section 6.7.1(a) 6.13.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement

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Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (viii) of Section 6.7.1(a) 6.4.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Subordinate Deposit Account for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.Default.β€Œ

Appears in 1 contract

Samples: Mezzanine Loan Agreement

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (vvi) of Section 6.7.1(a) 6.12.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (City Office REIT, Inc.)

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (vvi) of Section 6.7.1(a) 6.11.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account for such payments, and Borrowers are not otherwise in no Event of Default hereundershall then exist, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts or make payments required to be made by Lender hereunder shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (New York REIT, Inc.)

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (v) of Section 6.7.1(a) 6.12.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Ashford Hospitality Prime, Inc.)

Failure to Make Payments. The failure of Borrower to make all of the payments (whether to Lender to any other applicable payee) required under clauses (i) through (vvii) of Section 6.7.1(a) 6.16.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account (as opposed to subaccounts thereof) for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Medalist Diversified REIT, Inc.)

Failure to Make Payments. The failure of any Borrower to make all of the payments required under clauses (i) through (v) of Section 6.7.1(aSECTION 6.10.1(a) in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account for such payments, and Borrowers are not otherwise in no Event of Default has occurred and is continuing hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Horizon Group Properties Inc)

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (vviii) of Section 6.7.1(a) 6.12.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Carter Validus Mission Critical REIT, Inc.)

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (vvi) of Section 6.7.1(a6.11.l(a) in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Cash Management Account for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, the failure by the Deposit Cash Management Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Lodging Fund REIT III, Inc.)

Failure to Make Payments. The failure of Borrower Borrowers or Operating Lessees to make all of the payments required under clauses (i) through (vviii) of Section 6.7.1(a) 6.12.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account for such payments, and Borrowers are not otherwise in Default hereunder, the failure by the Deposit Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (American Realty Capital Hospitality Trust, Inc.)

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (vvi) of Section 6.7.1(a6.11.1(a) in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Cash Management Account for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, the failure by the Deposit Cash Management Bank to allocate such funds into the appropriate Accounts shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (United Realty Trust Inc)

Failure to Make Payments. The failure of Borrower to make all of the payments required under clauses (i) through (v) of Section 6.7.1(a) 6.12.1 in full on each Monthly Payment Date shall constitute an Event of Default under this Agreement; provided, however, that if adequate funds are available in the Deposit Account for such payments, and Borrowers are Borrower is not otherwise in Default hereunder, (i) the failure by the Deposit Bank to allocate such funds into the appropriate Accounts, or (ii) the failure by Lender or Servicer to make any payments from the appropriate Accounts once such funds have been allocated into such Accounts, shall not constitute an Event of Default.

Appears in 1 contract

Samples: Loan Agreement (Bluerock Residential Growth REIT, Inc.)

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