Major Casualty or Condemnation. (a) If a Casualty or Condemnation has occurred to any Individual Property and the Net Proceeds are equal to or greater than the Restoration Threshold for such Individual Property or the costs of completing the Restoration of the applicable Individual Property is equal to or greater than the Restoration Threshold for such Individual Property, Lender shall make the Net Proceeds available for the Restoration of the applicable Individual Property, provided that each of the following conditions are met:
Appears in 2 contracts
Samples: Assignment and Assumption Agreement (Supertel Hospitality Inc), Management Agreement (Ashford Hospitality Prime, Inc.)
Major Casualty or Condemnation. (a) If a Casualty or Condemnation has occurred to any Individual the Property and the Net Proceeds (less any business interruption proceeds) are equal to or greater than the Restoration Threshold for such Individual Property or the costs of completing the Restoration of the applicable Individual Property is equal to or greater than the Restoration Threshold for such Individual PropertyThreshold, Lender shall make the Net Proceeds available for the Restoration of the applicable Individual PropertyRestoration, provided that each of the following conditions are met:
Appears in 2 contracts
Samples: Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Behringer Harvard Reit I Inc)
Major Casualty or Condemnation. (a) If a Casualty or Condemnation has occurred to any an Individual Property and the Net Proceeds are equal to or greater than the Restoration Threshold for such Individual Property or the costs of completing the Restoration of the applicable Individual Property is equal to or greater than the Restoration Threshold for such Individual Property, Lender shall make the Net Proceeds available for the Restoration of the applicable Individual PropertyRestoration, provided that each of the following conditions are met:
Appears in 2 contracts
Samples: Loan Agreement (Host Marriott Corp/), Loan Agreement (Host Marriott L P)
Major Casualty or Condemnation. (ai) If a Casualty or Condemnation has occurred to any Individual the Property and the Net Proceeds are equal to or greater than the Restoration Threshold for such Individual Property or the costs of completing the Restoration of the applicable Individual Property is equal to or greater than the Restoration Threshold for such Individual PropertyThreshold, Lender shall make the Net Proceeds available for the Restoration of the applicable Individual PropertyRestoration, provided that each of the following conditions are met:
Appears in 2 contracts
Samples: Loan and Security Agreement (NNN 2003 Value Fund LLC), Loan and Security Agreement (NNN 2003 Value Fund LLC)
Major Casualty or Condemnation. (a) If a Casualty or Condemnation has occurred to any Individual Property and the Net Proceeds are equal to or greater than the Restoration Threshold for such Individual Property or the costs of completing the Restoration of the applicable Individual Property is equal to or greater than the Restoration Threshold for such Individual PropertyThreshold, then Lender shall make the Net Proceeds available for the Restoration of the applicable Individual PropertyRestoration, provided that each of the following conditions are met:
Appears in 1 contract
Major Casualty or Condemnation. (a) If a Casualty or Condemnation has occurred to any Individual the Property and the Net Proceeds are equal to or greater than the Restoration Threshold for such Individual Property or the costs of completing the Restoration of the applicable Individual Property is equal to or greater than the Restoration Threshold for such Individual PropertyThreshold, Lender then Administrative Agent shall make the Net Proceeds available for the Restoration of the applicable Individual PropertyRestoration, provided that each of the following conditions are met:
Appears in 1 contract
Samples: Senior Loan Agreement (KBS Strategic Opportunity REIT, Inc.)
Major Casualty or Condemnation. (a) If a Casualty or Condemnation has occurred to any Individual the Mortgaged Property and the Net Proceeds are equal to or greater than the Restoration Threshold for such Individual Property or the costs of completing the Restoration of the applicable Individual Property is equal to or greater than the Restoration Threshold for such Individual PropertyThreshold, Lender Agent shall make the Net Proceeds available for the Restoration of the applicable Individual PropertyRestoration, provided that each of the following conditions are met:
Appears in 1 contract
Samples: Security Agreement (Campus Crest Communities, Inc.)
Major Casualty or Condemnation. (a) If a Casualty or Condemnation has occurred to any Individual Property and the Net Proceeds are equal to or greater than the Restoration Threshold for such Individual Property or the costs of completing the Restoration of the applicable Individual Property is equal to or greater than the Restoration Threshold for such Individual Property, Lender Agent shall make the Net Proceeds available for the Restoration of the applicable Individual PropertyRestoration, provided that each of the following conditions are met:
Appears in 1 contract
Major Casualty or Condemnation. (a) If a Casualty or Condemnation has occurred to any Individual Property and the Net Proceeds are equal to or greater than the Restoration Threshold for such Individual Property or the costs of completing the Restoration of the applicable Individual affected Property is equal to or greater than the Restoration Threshold for such Individual Property, then the Lender shall make the Net Proceeds available for the Restoration of the applicable Individual Property, provided that each of the following conditions are met:
Appears in 1 contract
Samples: Loan Agreement (Industrial Logistics Properties Trust)
Major Casualty or Condemnation. (a) If a Casualty or Condemnation has occurred to any Individual Property and the Net Proceeds are equal to or greater than the Restoration Threshold for such Individual Property or the costs of completing and expenses to complete the Restoration of the applicable Individual Property is are equal to or greater than the Restoration Threshold for such Individual PropertyThreshold, Lender shall make the Net Proceeds available for the Restoration of the applicable Individual PropertyRestoration, provided that each of the following conditions are metis satisfied:
Appears in 1 contract
Major Casualty or Condemnation. (a) If a Casualty or Condemnation has occurred to any the Individual Property and the Net Proceeds are equal to or greater than the Restoration Threshold for such Individual Property or the costs of completing the Restoration of the applicable Individual Property is equal to or greater than the Restoration Threshold for such Individual PropertyThreshold, Lender shall make the Net Proceeds available for the Restoration of the applicable Individual PropertyRestoration, provided that each of the following conditions are met:
Appears in 1 contract
Samples: Loan Agreement (Wells Real Estate Investment Trust Inc)
Major Casualty or Condemnation. (a) a. If a Casualty or Condemnation has occurred to any Individual the Property and the Net Proceeds are equal to or greater than the Restoration Threshold for such Individual Property or the costs of completing and expenses to complete the Restoration of the applicable Individual Property is are equal to or greater than the Restoration Threshold for such Individual PropertyThreshold, Lender shall make the Net Proceeds available for the Restoration of the applicable Individual PropertyRestoration, provided that each of the following conditions are metis satisfied:
Appears in 1 contract
