Prepayment of Rents. Borrower will not receive or accept Rent under any Lease (whether a residential Lease or a Non-Residential Lease) for more than 2 months in advance.
Prepayment of Rents. There is expressly reserved to the Company the right, and the Company is authorized and permitted, at any time it may choose, to prepay all or any part of the Basic Rent payable under Section 5.3(a) hereof, and the Issuer agrees that it shall accept such prepayments of rents when the same are tendered by the Company. All Basic Rent so prepaid shall at the written direction of the Company be credited toward the Basic Rent payments specified in Section 5.3(a) hereof, in the same manner as such payments are applied to the payment of Debt Service in accordance with terms of the Bond and the Bond Resolution. The Company shall also have the right to surrender the Bond, if it is then owned by the Company, to the Issuer for cancellation, and such Bond, upon such surrender and cancellation, shall be deemed to be paid and no further Basic Rent shall be paid, as provided in Section 9.6, below.
Prepayment of Rents. There is expressly reserved to the Company the right, and the Company is authorized and permitted, at any time it may choose, so long as it is not in default hereunder, to prepay all or any part of the rents and other payments payable under Section 5.3, and the Board agrees that the Trustee may accept such prepayment when the same is tendered by the Company. All prepaid rents shall be credited on the rents specified in Section 5.3, and at the election of the Company shall be used for the redemption or purchase of Bonds in the manner and to the extent provided in the Indenture.
Prepayment of Rents. Borrower will not collect any Rent more than 30 days in advance of its due date; provided, that the foregoing restriction will not prevent Borrower from collecting both the first and last month’s rent contemporaneously with the execution of a Lease in accordance with customary residential leasing practices.
Prepayment of Rents. There is expressly reserved to the Lessee the right, and the Lessee is authorized and permitted at any time it may choose, to prepay all or any part of the rents payable under Section 5.3(a) hereof, and the Issuer agrees to accept such prepayment of rents when the same are tendered by the Lessee. All rents so prepaid shall be credited on the rental payments specified in Section 5.3(a) hereof, in the order of their due dates and at the election of the Lessee shall be used for the redemption of outstanding Bonds in the manner and to the extent provided in the Indenture.
Prepayment of Rents. There is expressly reserved to the Lessee the right, and the Lessee is authorized and permitted, at any time it may choose, so long as it is not in default hereunder, to prepay all or any part of the rents payable under Section 5.3 hereof, and the Issuer agrees that the Trustee may accept such prepayment when the same is tendered by the Lessee. All prepaid rents shall be credited on the rents specified in Section 5.3, in the chronological order of their due dates.
Prepayment of Rents. There is expressly reserved to the Company the right, and the Company is authorized and permitted, at any time it may choose, to prepay all or any part of the rents payable under Section 4.3 hereof, and the Director agrees that the Trustee may accept such prepayment of rents when the same are tendered by the Company. Notwithstanding the provisions of Section 4.4 of this Lease, all prepaid rent (except for rent payments pursuant to Section 4.3(e) of the Lease) shall be deposited to the Collateral Proceeds Account and transferred to the Debt Service Account as rental payments in the amounts and on the dates specified for rental payments pursuant to Section 4.3 of this Lease. Prepayments of rent pursuant to Section 4.3(e) shall be applied by the Director as provided in the Loan Agreement.
Prepayment of Rents. Borrower will not receive or accept Rent under any Lease (whether a residential Lease or a Non-Residential Lease) for more than 2 months in advance except that Borrower may receive and accept Prepaid Rent for residential units rented to college students. In no event will Borrower receive or collect Prepaid Rent for more than one year in advance. Every month in which Borrower has received Prepaid Rent, Borrower will provide Funding Lender with a monthly report showing any Lease as to which Borrower has received Prepaid Rent.
Prepayment of Rents. Subject to the terms of the Security Instruments, Borrower may collect or accept payment of any Rents for not more than six (6) months prior to the due dates of such Rents, provided that the aggregate amount of such Rents at any time does not exceed an amount equal to ten percent (10%) of the aggregate amount of Rents payable for the entire Collateral Pool during the preceding twelve (12) month period.
Prepayment of Rents. To permit the redemption of Bonds pursuant to the exercise of any options of company hereunder, and solely for that purpose, there is expressly reserved to Company the right, and Company is authorized and permitted, at any time it may choose, to prepay all or any part of the rents payable under Section 5.3 hereof, and Issuer agrees that Trustee may accept such prepayment of rents when the same are tendered by Company. All rents so prepaid shall be credited on the rental payments specified in Section 5.3 hereof, in the order of their maturities, and shall be used for the redemption of the Bonds in accordance with the Indenture.
