Income from Property. Borrower shall pay all costs and expenses associated with the ownership, maintenance, operation and leasing of the Property, including all amounts then required to be paid under the Loan Documents, in accordance with the terms of this Agreement and the other Loan Documents. No income derived from the Property, including any income from the Leases, shall be distributed or paid to any member, partner, shareholder or, if Borrower is a trust, to any beneficiary or trustee, following the occurrence and during the continuation of any Default with respect to which Administrative Agent has provided Notice to Borrower.
Appears in 5 contracts
Samples: Loan Agreement (KBS Strategic Opportunity REIT, Inc.), Loan Agreement (KBS Real Estate Investment Trust II, Inc.), Loan Agreement (KBS Real Estate Investment Trust III, Inc.)
Income from Property. Borrower shall pay all costs and expenses associated with the ownership, maintenance, operation and leasing of the Property, including all amounts then required to be paid under the Loan Documents, in accordance with the terms of this Agreement and the other Loan Documentsdocuments. No income derived from the Property, including any income from the Leases, shall be distributed or paid to any member, partner, shareholder or, if Borrower is a trust, to any beneficiary or trustee, following the occurrence and during the continuation of any Event of Default with respect to which Administrative Agent Lender has provided Notice to Borrower.
Appears in 2 contracts
Samples: Term Loan Agreement (KBS Real Estate Investment Trust III, Inc.), Term Loan Agreement (KBS Strategic Opportunity REIT, Inc.)
Income from Property. Borrower shall pay all costs and expenses associated with the ownership, maintenance, operation and leasing of the each Property, including all amounts then required to be paid under the Loan Documents, in accordance with the terms of this Agreement and the other Loan Documents. No income derived from the any Property, including any income from the Leases, shall be distributed or paid used to make any member, partner, shareholder or, if Borrower is a trust, to any beneficiary or trustee, following the occurrence and during the continuation of any Default with respect to which Administrative Agent has provided Notice to Borrower.Restricted Payment. 4.21
Appears in 1 contract
Samples: Loan Agreement (Pacific Oak Strategic Opportunity REIT, Inc.)