Supplemental Loan. The Loan is a Supplemental Loan and, except to the extent specifically required or approved by Lender, there has been no change in the ownership of either the Mortgaged Property or Borrower Principals since the date of the Senior Note. The intended use of any cash received by Borrower from Lender, to the extent applicable, in connection with the Supplemental Loan has been fully disclosed to Lender. [ ] Cross-Collateralized/Cross-Defaulted Loan Pool: The Loan is part of a cross-collateralized/cross-defaulted pool of loans described as follows: ____ being simultaneously made to Borrower and/or Borrower’s Affiliates ____ made previously to Borrower and/or Borrower’s Affiliates The intended use of any cash received by Borrower from Lender, to the extent applicable, in connection with the Loan and the other loans comprising the cross-collateralized/cross-defaulted loan pool has been fully disclosed to Lender.
Appears in 10 contracts
Samples: Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.), Multifamily Loan and Security Agreement (Steadfast Income REIT, Inc.)
Supplemental Loan. The Loan is a Supplemental Loan and, except to the extent specifically required or approved by Lender, there has been no change in the ownership of either the Mortgaged Property or Borrower Principals since the date of the Senior Note. The intended use of any cash received by Borrower from Lender, to the extent applicable, in connection with the Supplemental Loan has been fully disclosed to Lender. [ [_] Cross-Collateralized/Cross-Defaulted Loan Pool: The Loan is part of a cross-collateralized/crosscollateralized /cross-defaulted pool of loans described as follows: ____ being simultaneously made to Borrower and/or Borrower’s Affiliates ____ made previously to Borrower and/or Borrower’s Affiliates The intended use of any cash received by Borrower from Lender, to the extent applicable, in connection with the Loan and the other loans comprising the cross-collateralized/cross-defaulted loan pool has been fully disclosed to Lender.
Appears in 1 contract
Samples: Multifamily Loan and Security Agreement (Inland Residential Properties Trust, Inc.)