201000151 - Laserfiche WebLink

Browse

2oloooi5~ (B) repurchase obligations with respect to any security described in clause (A) above entered into with a depository institution or trust company (acting as principal) whose long-term unsecured debt obligations have received one of the two highest ratings available for such securities by each Rating Agency (hereinafter defined), provided that no such investment shall be purchased at a premium to its face value (disregarding interest accrued to the date of acquisition) and that no such investment shall have a maturity later than the earlier of (i) the business day before the proceeds of such investment are anticipated to be needed pursuant to this Security Instrument ar (ii) ninety (90) days from the date of acquisition; and (C) units of taxable money market funds which funds are regulated investment companies, seek to maintain a constant net asset value per share of $1.00 and invest solely in obligatians backed by the full faith and credit of the USA, and have been designated in writing by each Rating Agency in one of the two highest credit rating categories as Permitted Investments with respect to this definition. Each Permitted Investment must have a predetermined principal amount due at maturity that cannot change. Interest on a Permitted Investment may be either fixed or variable, but if variable, the interest rate on the Permitted Investment must be expressed as a single fixed spread (if any) over an index rate, and move proportionately with the index rate. As used herein, "Rating, Agency" shall mean each of Moody's Investors Service, Inc., Standard & Poor's Rating Services, a division of The McGraw-Hill Companies, lnc. and any successor to either of them. (e) Borrower shall have the right to request a re-advancement of the Paydown Amount (the "Payup Right"), which right shall be assignable to a transferee permitted under paragraph 9 and shall be exercisable by the Borrower with a new beneficial Borrower or such permitted transferee (in either circumstance, the "New Barrower") to borrow an amount equal to the Paydown Amount (the "Payup Amount") on any Business Day during the Paydown Period. The Fayup Right may be exercised by the New Borrower's giving of written notice (the "Payup Notice") to the Escrow Agent and the Lender no later than two (2) Business Days prior to the Fayup Date (as hereinafter defined) setting forth its name, address and wire transfer instructions. The Payup Notice shall set forth the Business Day (the "Payup Date") upon which the Payup Right is to be exercised. New Borrower may exercise its Payup Right upan completion of the following (the "Payup Requirements "): (1) New Borrower shall have timely provided the Escrow Agent and the Lender with the Payup Notice; (2) New Borrower shall have delivered to Lender a title insurance endorsement confirming the continuation in effect of the original policy of title insurance insuring Lender and insuring no change in priority of lien as -30- 15445229.4.BUSiNESS