Common use of Protective Advance Clause in Contracts

Protective Advance. The term “Protective Advance” shall mean an advance made by B Participant in order to cover any and all reasonable expenses necessary to protect or preserve the value of the Collateral securing a Loan and the priority of the liens and security interests created by the Loan Documents relating thereto, including without limitation taxes, insurance premiums, payment of ground rent, the costs of prevention of waste, repairs, and maintenance, and foreclosure expenses and legal fees and expenses relating thereto.

Protective Advance. The term “"Protective Advance” " shall mean an advance made by B Participant in order to cover any and all reasonable expenses necessary to protect or preserve the value of the Collateral securing a Loan and the priority of the liens and security interests created by the Loan Documents relating thereto, including without limitation taxes, insurance premiums, payment of ground rent, the costs of prevention of waste, repairs, and maintenance, and foreclosure expenses and legal fees and expenses relating thereto.