Disposition of MPB Deposit Sample Clauses

Disposition of MPB Deposit. The MBP Deposit shall serve as an assurance to QRS of MBP’s performance under this Sublease. For purposes hereof, the “Minimum Required Deposit Amount” shall mean, at the time of computation of such Amount, the remaining amount of Fixed Rent and estimated Additional Charges payable under the Master Lease; provided however that if MBP enters into a sub-sublease for all or portions of the Subleased Premises with a sub-subtenant whose net worth is equal to or greater than $50,000,000, then the Minimum Required Deposit Amount shall be reduced by the amount of Fixed Rent and estimated Additional Charges payable by each such sub-subtenant during the remaining Term of this Sublease. If at any time the MBP Deposit exceeds the Minimum Required Deposit Amount, MBP may direct that Escrow Holder release to MBP the excess amount of the MBP Deposit then held by Escrow Holder. Subject to the foregoing, the MBP Deposit shall be retained in the MBP Escrow Account and if MBP fails to make timely payments of Rent hereunder to Master Landlord, QRS may, at its sole and absolute discretion, direct Escrow Holder to pay to Master Landlord such portion of the MBP Deposit as is necessary to make the required payment of Rent, including without limitation, any late charges or interest payable as a result of such failure and Escrow Holder shall do so upon two (2) business days prior written instruction from QRS, which instruction shall also be simultaneously sent to MPB. Each time that QRS so directs Escrow Holder to pay a portion of the MBP Deposit as Rent to Master Landlord, MBP shall within ten (10) business days after receiving notice of such payment make an additional deposit with Escrow Holder in the amount of the MBP Deposit so paid to Master Landlord.
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Related to Disposition of MPB Deposit

  • Disposition of Deposit In the event the transaction contemplated by this Agreement shall close, the Deposit shall be applied as a partial payment of the Purchase Price.

  • Permitted Withdrawals and Transfers from the Master Servicer Collection Account (a) The Master Servicer will, from time to time on demand of a Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Master Servicer Collection Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement and the related Servicing Agreement. The Master Servicer may clear and terminate the Master Servicer Collection Account pursuant to Section 10.01 and remove amounts from time to time deposited in error.

  • Permitted Withdrawals from the Collection Account The Servicer may, from time to time, withdraw funds from the Collection Account for the following purposes:

  • Permitted Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the Collection Account for the following purposes:

  • Collection of Monies Except as otherwise expressly provided in this Agreement, the Trustee may demand payment or delivery of, and shall receive and collect, all money and other property payable to or receivable by the Trustee pursuant to this Agreement. The Trustee shall hold all such money and property received by it as part of the Trust Fund and shall distribute it as provided in this Agreement. If the Trustee shall not have timely received amounts to be remitted with respect to the Mortgage Loans from the Master Servicer, the Trustee shall request the Master Servicer to make such distribution as promptly as practicable or legally permitted. If the Trustee shall subsequently receive any such amount, it may withdraw such request.

  • Permitted Withdrawals from the Collection Accounts and Certificate Account (a) Each Servicer may from time to time make withdrawals from the related Collection Account for the following purposes:

  • Collection of Mortgage Loan Payments; Collection Account; Distribution Account (a) The Master Servicer shall enforce the obligation of the Servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with the applicable Servicing Agreement and the terms and provisions of any related Required Insurance Policy.

  • Distribution of Collateral Proceeds In the event that, following the occurrence and during the continuance of any Event of Default, any monies are received in connection with the enforcement of any of the Loan Documents, or otherwise with respect to the realization upon any of the Collateral or other assets of the Borrower or the Guarantors, such monies shall be distributed for application as follows:

  • Permitted Withdrawals From Custodial Account The Servicer shall, from time to time, withdraw funds from the Custodial Account for the following purposes:

  • Compromises and Collection of Collateral The Grantors and the Administrative Agent recognize that setoffs, counterclaims, defenses and other claims may be asserted by obligors with respect to certain of the Receivables, that certain of the Receivables may be or become uncollectible in whole or in part and that the expense and probability of success in litigating a disputed Receivable may exceed the amount that reasonably may be expected to be recovered with respect to a Receivable. In view of the foregoing, each Grantor agrees that the Administrative Agent may at any time and from time to time, if an Event of Default has occurred and is continuing, compromise with the obligor on any Receivable, accept in full payment of any Receivable such amount as the Administrative Agent in its sole discretion shall determine or abandon any Receivable, and any such action by the Administrative Agent shall be commercially reasonable so long as the Administrative Agent acts in good faith based on information known to it at the time it takes any such action.

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