Common use of Capital Reserve Fund Clause in Contracts

Capital Reserve Fund. Borrower shall pay to Lender on each Payment Date an amount equal to five percent (5%) of the gross revenues of the Properties for the second calendar month preceding such Payment Date (said amounts hereinafter called the "Capital Reserve Fund"). Lender will apply the Capital Reserve Fund to payment of Approved Capital Expenses pursuant to the terms hereof; provided, however, if the Loan shall have been accelerated or if there is an Event of Default which is continuing, then Lender may credit such Capital Reserve Fund against the Debt in such priority and proportions as Lender in its sole and absolute discretion shall deem proper. If the amount of the Capital Reserve Fund shall exceed the amounts due for Approved Capital Expenses pursuant to the terms hereof, Lender shall, in its discretion, return any excess to Borrower or, if future Capital Reserve Fund payments are then required, credit such excess against such future payments; provided, however, if the Loan shall have been accelerated or if there is an Event of Default which is continuing, then Lender may credit such excess against the Debt in such priority and proportions as Lender in its sole and absolute discretion shall deem proper.

Capital Reserve Fund. Borrower shall pay to Lender on each Payment Date an amount equal to five percent one-twelfth (5%1/12th) of the gross revenues product obtained by multiplying $0.27 by the aggregate amount of square feet of rentable space in the Properties for the second calendar month preceding such Payment Date Property (said amounts hereinafter called the "Capital Reserve Fund"). Lender will apply the Capital Reserve Fund to payment of Approved Capital Expenses pursuant to the terms hereof; provided, however, if the Loan shall have been accelerated or if there is an Event of Default which is continuing, then Lender may credit such Capital Reserve Fund against the Debt in such priority and proportions as Lender in its sole and absolute discretion shall deem proper. If the amount of the Capital Reserve Fund shall exceed the amounts due for Approved Capital Expenses pursuant to the terms hereof, Lender shall, in its discretion, return any excess to Borrower or, if future Capital Reserve Fund payments are then required, credit such excess against such future payments; provided, however, if the Loan shall have been accelerated or if there is an Event of Default which is continuing, then Lender may credit such excess against the Debt in such priority and proportions as Lender in its sole and absolute discretion shall deem proper.

Capital Reserve Fund. Borrower shall pay to Lender on each Payment Date an amount equal to five percent one-twelfth (5%1/12th) of the gross revenues product obtained by multiplying $.22 by the aggregate amount of square feet of rentable space in the Property (the monthly amounts to be paid are hereinafter called the "Capital Reserve Fund Payments," and the aggregate amount of the Properties for the second calendar month preceding such Payment Date (said amounts hereinafter called Capital Reserve Fund Payments held by Lender at any time are defined as the "Capital Reserve Fund"). Lender will apply the Capital Reserve Fund to payment of Capital Expenses, Approved Capital Leasing Expenses and any Operating Expenses consisting of maintenance and repair items pursuant to the terms hereof; providedPROVIDED, howeverHOWEVER, if the Loan shall have been accelerated or if there is an Event of Default which is continuing, then Lender may credit such Capital Reserve Fund against the Debt in such priority and proportions as Lender in its sole and absolute discretion shall deem proper. If the amount of the Capital Reserve Fund shall in Lender's judgment exceed the amounts due for Approved Capital Expenses pursuant to the terms hereof, Lender shall, in its discretion, return any excess to Borrower or, if future Capital Reserve Fund payments are then required, credit such excess against such future payments; providedPROVIDED, howeverHOWEVER, if the Loan shall have been accelerated or if there is an Event of Default which is continuing, then Lender may credit such excess against the Debt in such priority and proportions as Lender in its sole and absolute discretion shall deem proper.

Capital Reserve Fund. Borrower shall pay to Lender on each Payment Date an amount equal to five percent one-twelfth (5%1/12th) of the gross revenues product obtained by multiplying $0.55 by the aggregate amount of square feet of rentable space in the Properties for the second calendar month preceding such Payment Date Property (said amounts hereinafter called the "Capital Reserve Fund"). Lender will apply the Capital Reserve Fund to payment of Approved Capital Expenses pursuant to the terms hereof; provided, however, if the Loan shall have been accelerated or if there is an Event of Default which is continuing, then Lender may credit such Capital Reserve Fund against the Debt in such priority and proportions as Lender in its sole and absolute discretion shall deem proper. If the amount of the Capital Reserve Fund shall exceed the amounts due for Approved Capital Expenses pursuant to the terms hereof, Lender shall, in its discretion, return any excess to Borrower or, if future Capital Reserve Fund payments are then required, credit such excess against such future payments; provided, however, if the Loan shall have been accelerated or if there is an Event of Default which is continuing, then Lender may credit such excess against the Debt in such priority and proportions as Lender in its sole and absolute discretion shall deem proper.

Capital Reserve Fund. Borrower shall pay to Lender on each Payment Date an amount equal to five percent one-twelfth (5%1/12th) of the gross revenues product obtained by multiplying $.30 by the aggregate amount of square feet of rentable space in the Property (the monthly amounts to be paid are hereinafter called the "Capital Reserve Fund Payments," and the aggregate amount of the Properties for the second calendar month preceding such Payment Date (said amounts hereinafter called Capital Reserve Fund Payments held by Lender at any time are defined as the "Capital Reserve Fund"). Lender will apply the Capital Reserve Fund to payment of Capital Expenses, Approved Capital Leasing Expenses and any Operating Expenses consisting of maintenance and repair items pursuant to the terms hereof; providedPROVIDED, howeverHOWEVER, if the Loan shall have been accelerated or if there is an Event of Default which is continuing, then Lender may credit such Capital Reserve Fund against the Debt in such priority and proportions as Lender in its sole and absolute discretion shall deem proper. If the amount of the Capital Reserve Fund shall in Lender's judgment exceed the amounts due for Approved Capital Expenses pursuant to the terms hereof, Lender shall, in its discretion, return any excess to Borrower or, if future Capital Reserve Fund payments are then required, credit such excess against such future payments; providedPROVIDED, howeverHOWEVER, if the Loan shall have been accelerated or if there is an Event of Default which is continuing, then Lender may credit such excess against the Debt in such priority and proportions as Lender in its sole and absolute discretion shall deem proper.