[(iv)] [have a Net Worth and Liquidity of not less than the transferor has as of [the Effective Date][the date of the Transfer];] and [DRAFTING NOTE: LENDER SHALL SELECT ONE OR MORE OF THE FOLLOWING STANDARDS FOR COMMERCIAL REAL ESTATE EXPERIENCE PROVIDED IN THE LENDER MEMO: [(v)] [have (a) not less than the years of experience of the original Key Principal owning, operating or investing in commercial real estate or multifamily projects similar to the Mortgaged Property, and (b) multifamily units under management not less than the number of multifamily units than the original Key Principal has under management as of the date of the Transfer] [(vi)] [have (a) at least [__________ (__)] years of experience owning, operating or investing in commercial real estate or multifamily projects similar to the Mortgaged Property, and (b) have at least [__________ (__)]multifamily units under management] [(vii)] [have at least [__________ (__)] multifamily units under management];] (F) Fees. Borrower shall pay to Lender: (i) concurrently with its notice to Lender, the Review Fee plus a Transfer Fee of $_________ [DRAFTING NOTE: SEE LENDER MEMO FOR LIMITATIONS]; and (ii) upon demand, any out-of-pocket costs and expenses, including and expenses, incurred attorneys’ fees by Lender in connection with its review of the Transfer request; and (G) Further Assurances. Borrower shall execute upon demand such documents or certifications as Lender reasonably requires in order to confirm the post-transfer ownership structure, compliance with the stated conditions, and any other relevant factual
[(iv)] [have a Net Worth and Liquidity of not less than the transferor has as of [the Effective Date][the date of the Transfer];] and [DRAFTING NOTE: LENDER SHALL SELECT ONE OR MORE OF THE FOLLOWING STANDARDS FOR COMMERCIAL REAL ESTATE EXPERIENCE PROVIDED IN THE LENDER MEMO: [(v)] [have (a) not less than the years of experience of the original Key Principal owning, operating or investing in commercial real estate or multifamily projects similar to the Mortgaged Property, and (b) multifamily units under management not less than the number of multifamily units than the original Key Principal has under management as of the date of the Transfer] [(vi)] [have (a) at least [__________ (__)] years of experience owning, operating or investing in commercial real estate or multifamily projects similar to the Mortgaged Property, and (b) have at least [__________ (__)]multifamily units under management] [(vii)] [have at least [__________ (__)] multifamily units under management];] (F) Fees. Borrower shall pay to Lender: (i) concurrently with its notice to Lender, the Review Fee plus a Transfer Fee of $_________ [DRAFTING NOTE: SEE LENDER MEMO FOR LIMITATIONS]; and (ii) upon demand, any out-of-pocket costs and expenses, including attorneys’ fees and expenses, incurred by Lender in connection with its review of the Transfer request; and (G) Further Assurances. Borrower shall execute upon demand such documents or certifications as Lender reasonably requires in order to confirm the post-transfer ownership structure, compliance with the stated conditions, and any other relevant factual
6240.t4.docx