Interest Rate Cap Funds. In the event that Borrower receives Interest Rate Cap Funds (as defined in the Mortgage Loan Agreement) in accordance with Section 8.12(b) of the Mortgage Loan Agreement, Borrower shall cause such funds to be used to purchase the Closing Date Interest Rate Caps applicable to the Loan.
Appears in 6 contracts
Samples: Mezzanine C Loan Agreement (NorthStar Healthcare Income, Inc.), Mezzanine C Loan Agreement (Northstar Realty Finance Corp.), Mezzanine B Loan Agreement (NorthStar Healthcare Income, Inc.)
