No Negative Amortization. No Capital Contribution; No Financing for Incomplete Improvements. No Mortgage Loan, other than an ARD Loan (and then only after the Anticipated Repayment Date for such ARD Loan), provides for the negative amortization of interest. Neither the Seller nor any affiliate thereof has any obligation to make any capital contributions to the Mortgagor under the Mortgage Loan. The Mortgage Loan was not originated for the purpose of financing the construction of incomplete improvements on the related Mortgaged Property other than tenant improvements.
Appears in 25 contracts
Sources: Mortgage Loan Purchase and Sale Agreement (Banc of America Commercial Mortgage Pass-Through Certificates, Series 2004-5), Mortgage Loan Purchase and Sale Agreement (Banc of America Commercial Mort. Pass Thr. Certs SER 2004-3), Mortgage Loan Purchase and Sale Agreement (Banc of America Commercial Mortgage Inc. Series 2006-1)