Common use of Special Distributions Clause in Contracts

Special Distributions. On each date on which amounts are required to be disbursed to Lender pursuant to the Mortgage Loan Agreement, or are required to be paid to Lender pursuant to any of the Loan Documents, Borrower shall exercise its rights under the Organizational Documents of Mortgage Borrower to cause Mortgage Borrower to make to Borrower a distribution in an aggregate amount such that Lender shall receive the amount required to be disbursed pursuant to the Mortgage Loan Agreement.

Appears in 6 contracts

Samples: Senior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc), Senior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc), Senior Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)

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Special Distributions. On each date on which amounts are required to be disbursed to Lender pursuant to the terms of the Mortgage Loan Agreement, or Documents are required to be paid to Lender pursuant to the terms of any of the Loan Documents, Borrower shall exercise its rights under the Organizational Documents of Mortgage Borrower Company Agreement to cause Mortgage Borrower to make to Borrower a distribution of any unrestricted funds in an Mortgage Borrower’s possession or control up to the aggregate amount such that Lender shall receive the amount required to be so disbursed pursuant to the Mortgage Loan AgreementLender on such date.

Appears in 2 contracts

Samples: Mezzanine a Loan Agreement (Northstar Realty Finance Corp.), Mezzanine a Loan Agreement (NorthStar Healthcare Income, Inc.)

Special Distributions. On each date date, if any, on which amounts are required to be disbursed to Lender pursuant to the Mortgage Loan Agreement, or are required to be paid to Lender pursuant to any of the Loan Documents, Borrower shall exercise its rights under the Organizational Documents of Mortgage Borrower to cause Mortgage Borrower to make to Borrower a distribution to Borrower, in each case in an aggregate amount such that Lender shall receive the amount required to be disbursed pursuant to the Mortgage Loan AgreementDocuments.

Appears in 2 contracts

Samples: Mezzanine a Loan Agreement (Archstone Smith Operating Trust), Mezzanine a Loan Agreement (Archstone Smith Operating Trust)

Special Distributions. On each date on which amounts are required to be disbursed to Lender pursuant to the Mortgage Loan Agreement, terms of the Cash Management Agreement or are required to be paid to Lender pursuant to under any of the Loan Documents, Borrower shall exercise its rights under the Organizational Documents of Mortgage Borrower and Principal to cause Mortgage Borrower to make to Borrower a distribution in an aggregate amount such that Lender shall receive the amount required to be disbursed pursuant to the Mortgage Loan AgreementLender on such date.

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Global Income Trust, Inc.)

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Special Distributions. On each date on which amounts are required to be disbursed to Lender pursuant to the terms of the Mortgage Loan Agreement, Documents or are required to be paid to Lender pursuant to the terms of any of the Loan Documents, Borrower shall exercise its rights under the Organizational Documents of Mortgage Borrower Company Agreement to cause Mortgage Borrower to make to Borrower a distribution of all funds in an Mortgage Borrower’s possession or control up to the aggregate amount such that Lender shall receive the amount required to be so disbursed pursuant to the Mortgage Loan AgreementLender on such date.

Appears in 1 contract

Samples: Mezzanine a Loan Agreement (Morgans Hotel Group Co.)

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