Examples of Bondholder in a sentence
All sums advanced hereunder and any other amounts expended by the Significant Bondholder, the Financial Monitor, and the Servicer (none of which parties shall be under or have any obligation whatsoever to advance or expend any amounts whether available hereunder or otherwise) to complete any improvement or rehabilitation of the Project shall be deemed to have been advanced to the Borrower and shall be secured by the Mortgage, as applicable.
The Significant Bondholder and the Servicer shall have the right to remove the Agent or cause removal of the Manager in the event an uncured event of default by the Agent or Manager has occurred under the Property Management Agreement and the Borrower has failed to remove the defaulting Agent, or cause to be removed the defaulting Manager, as applicable, in a reasonable time after the occurrence of the uncured event of default.
Unless the Significant Bondholder, if any, objects to the determination of the Replacement Reserve Requirement within 14 Business Days of receipt of such notice, the Servicer shall notify the Trustee of the Replacement Reserve Requirement.
The Servicer shall send written notice after each Project Condition Report to the Financial Monitor, the Significant Bondholder and each Owner requesting the same at the address supplied to the Trustee by such Owner or its authorized representative, setting forth the Servicer’s determination as to the adequacy of the then current Replacement Reserve Requirement.
If the Significant Bondholder shall elect to pay any sum due with reference to the Project, the Significant Bondholder may do so in reliance on any bill, statement or assessment procured from the appropriate governmental authority or other issuer thereof without inquiring into the accuracy or validity thereof.