FUNDS FOR TAXES, INSURANCE AND OTHER CHARGES Sample Clauses

FUNDS FOR TAXES, INSURANCE AND OTHER CHARGES. Upon default in payment of any of the following described items, which default continues for a period of thirty (30) days after Ocwen or the Ocwen Affiliates have provided notice of same to Borrower (and Borrower shall notify Ocwen of its default in the payment of the following promptly after Borrower becomes aware of same), or, upon the occurrence of an Event of Default under any of the Transaction Documents, specifically including but not limited to the BCC Note and Deferred Purchase Price Note, or other notes or agreements given in connection with additional indebtedness of Borrower or Balanced Care to Ocwen or an Ocwen Affiliate secured by this Instrument, Ocwen shall have the right, at its option, to require Borrower to pay to Ocwen on the first day of each month, for so long as the BCC Note and/or Deferred Purchase Price Note or any of the Transaction Documents remains outstanding, a sum (herein "Funds") equal to one-twelfth of (a) the yearly water and sewer rates which may be levied on the Property; and (b) the yearly expenses, costs or fees associated with any licenses, permits, certifications or other governmental approvals required, necessary, or desirable for the operation of the facility located on the Property, all as reasonably estimated initially and from time to time adjusted by the basis of assessments and bills and reasonable estimates thereof. Any waiver by Ocwen of a requirement that Borrower pay such Funds following Borrower's default in payment of any of such items or the occurrence of an Event of Default under any of the Transaction Documents, specifically including but not limited to the BCC Note and Deferred Purchase Price Note, may be revoked by Ocwen, in Ocwen's sole discretion, at any time upon notice in writing to Borrower. Borrower shall be required to escrow funds sufficient to pay real property taxes and assessments, and upon Borrower's failure to pay premiums for the following when due, insurance premiums for fire and other casualty/hazard insurance, in accordance with the terms and conditions of Section 4.7 of the Term Loan Agreement, and such escrowed funds shall not be governed by this Section 2, but rather by Section 4.7
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FUNDS FOR TAXES, INSURANCE AND OTHER CHARGES. Uniform Covenant 2 of the Instrument ("Funds for Taxes, Insurance and Other Charges") is amended to change the title to "Funds for Taxes, Insurance and Other Charges; Collateral Agreements."
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FUNDS FOR TAXES, INSURANCE AND OTHER CHARGES. Upon the occurrence of an Event of Default (hereinafter defined), and at Bank’s sole option at any time thereafter, Borrower shall pay in addition to each monthly payment on the Notes, one-twelfth of the annual real estate taxes, insurance premiums, assessments, water and sewer rates and other charges (herein “Impositions”) payable with respect to the Property (as estimated by Bank in its sole discretion), to be held by Bank, without interest to Borrower, for the payment of such obligations. If the amount of such additional payments held by Bank (“Funds”) at the time of the annual accounting thereof shall exceed the amount deemed necessary by Bank to provide for the payment of Impositions as they fall due, such excess shall be at Borrower’s option, either repaid to Borrower or credited to Borrower on the next monthly installment or installments of Funds due. If at any time the amount of the Funds held by Bank shall be less than the amount deemed necessary by Bank to pay Impositions as they fall due, Borrower shall pay to Bank any amount necessary to make up the deficiency within thirty (30) days after notice from Bank to Borrower requesting payment thereof. Upon Borrower’s breach of any covenant or agreement of Borrower in this Instrument, Bank may apply, in any amount and in any order as Bank shall determine in Bank’s sole discretion, any Funds held by Bank at the time of application (a) to pay Impositions which are now or will hereafter become due or (b) as a credit against sums secured by this Instrument. Upon payment in full of all sums secured by this Instrument, Bank shall refund to Borrower any Funds held by Bank.
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FUNDS FOR TAXES, INSURANCE AND OTHER CHARGES. In the event an Insurance Escrow Fund or a Tax Escrow Fund is required under the terms of this Article XIX, the following provisions shall apply:
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FUNDS FOR TAXES, INSURANCE AND OTHER CHARGES. Upon default in payment by Morxxxxxx xx any of the following described items, or upon the occurrence of an Event of Default, as hereinafter defined, Administrative Agent shall have the right, at Administrative Agent's option, to require Mortgagor to pay to Administrative Agent on the first day of each month, until the Obligations have been paid in full, a sum (herein "Funds") equal to one-twelfth of (a) the yearly water and sewer rates and taxes and assessments that may be levied on the Property and (b) the yearly premium installments for fire and other hazard insurance, rent loss insurance (if applicable) and such other insurance covering the Property as Administrative Agent may require pursuant to the Credit Agreement, all as reasonably estimated initially and from time to time by Administrative Agent on the basis of assessments and bills and reasonable estimates thereof. Any waiver by Administrative Agent of a requirement that Mortgagor pay such Funds may be revoked by Administrative Agent, in Administrative Agent's sole discretion, at any time upon notice in writing to Mortgagor. Administrative Agent may require Mortgagor to pay to Administrative Agent, in advance, such other Funds for other taxes, charges, premiums, assessments and impositions in connection with Mortgagor or the Property that Administrative Agent shall reasonably deem necessary to protect Administrative Agent's interests (herein "Other Impositions"). Unless otherwise provided by applicable law, Administrative Agent, at Administrative Agent's option, may require Funds for Other Impositions to be paid by Morxxxxxx xx a lump sum (not exceeding Other Impositions due for a one-year period) or in periodic installments. The Funds shall be held by Administrative Agent and shall be applied to pay such rates, rents, taxes, assessments, insurance premiums and Other Impositions so long as no Event
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FUNDS FOR TAXES, INSURANCE AND OTHER CHARGES. Upon default in payment by Mortgagors of any of the following described items, or upon the occurrence of an Event of Default, as hereinafter defined, Collateral Agent shall have the right, at Collateral Agent's option, to require Mortgagors to pay to Collateral Agent on the first day of each month, until the Secured Obligations shall have been paid in full, a sum (herein "Funds") equal to one-twelfth of (a) the yearly water and sewer rates and taxes and assessments that may be levied on the Property and (b) the yearly premium installments for fire and other hazard insurance, rent loss insurance (if applicable) and such other insurance covering the Property as Collateral Agent may require pursuant to the Credit Agreement, all as reasonably estimated initially and from time to time by Collateral Agent on the basis of assessments and bills and reasonable estimates thereof. Any waiver by Collateral Agent of a requirement that Mortgagors pay such Funds may be revoked by Collateral Agent, in Collateral Agent's sole discretion, at any time upon notice in writing to Mortgagors. Collateral Agent may require Mortgagors to pay to Collateral Agent, in advance, such other Funds for other taxes, charges, premiums, assessments and impositions in connection with Mortgagors or the Property that Collateral Agent shall reasonably deem necessary to protect Collateral Agent's interests (herein "Other Impositions"). Unless otherwise provided by applicable law, Collateral Agent, at Collateral Agent's option, may require Funds for Other Impositions to be paid by Mortgagors in a lump sum (not exceeding Other Impositions due for a one-year period) or in periodic installments. The Funds shall be held by Collateral Agent and shall be applied to pay such rates, rents, taxes, assessments, insurance premiums and Other Impositions so long as no Event of Default has occurred. Collateral Agent shall make no charge for so holding and applying the Funds, analyzing such account or for verifying and compiling said assessments and bills, unless Collateral Agent pays Mortgagors interest, earnings or profits on the Funds and applicable law permits Collateral Agent to make such a charge. Unless applicable law requires interest, earnings or profits on the Funds to be paid, Collateral Agent shall not be required to pay Mortgagors any interest, earnings or profits on the Funds. Collateral Agent shall give to Mortgagors, without charge, an annual accounting of the Funds showing credits and debits to t...
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FUNDS FOR TAXES, INSURANCE AND OTHER CHARGES. Borrower shall cause to be paid all Impositions and insurance premiums now or hereafter levied or assessed or imposed against the Property or any part thereof as provided in the Lease Agreement, and subject to Borrower’s right to contest set forth in Paragraph 14 of the Lease Agreement. Following the occurrence of an Event of Default with respect to the timely payment of any Impositions or insurance premiums, as the case may be, in accordance with the terms of the Lease Agreement or the Condominium Documents, upon the written request of Landlord, Borrower shall pay into an escrow account controlled by Landlord (or Lender, as the case may be), funds necessary to pay Escrow Charges in accordance with the terms of Paragraph 9(b) of the Lease Agreement.
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FUNDS FOR TAXES, INSURANCE AND OTHER CHARGES. Upon default in payment by Mortgagor of any of the following described items, or upon the occurrence of an Event of Default, as hereinafter defined, Administrative Agent shall have the right, at Administrative Agent's option, to require Mortgagor to pay to Administrative Agent on the first day of each month, until the Obligations have been paid in full, a sum (herein "Funds") equal to one-twelfth
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FUNDS FOR TAXES, INSURANCE AND OTHER CHARGES. If requested in writing by Lender, Borrower shall pay to Lender on the day monthly installments of principal or interest are payable under the Note (or on another day designated in writing by Lender), until the Obligation is paid in full, a sum (herein "Funds") equal to one-twelfth of (a) the yearly water and sewer rates and taxes and assessments which may be levied on the Property, (b) the yearly premium
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Related to FUNDS FOR TAXES, INSURANCE AND OTHER CHARGES

  • Payment of Taxes, Insurance and Other Charges With respect to each Mortgage Loan, the Master Servicer shall maintain accurate records reflecting the status of ground rents, taxes, assessments, water rates and other charges which are or may become a lien upon the Mortgaged Property and the status of fire and hazard insurance coverage and, as to those Mortgage Loans subject to a voluntary escrow agreement, shall obtain, from time to time, all bills for the payment of such charges (including renewal premiums) and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Master Servicer in amounts sufficient for such purposes, as allowed under the terms of the Mortgage or Applicable Regulations. The Master Servicer assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of the Mortgagor's faithful performance in the payment of same or the making of the Escrow Payments and shall make Servicing Advances from its own funds to effect such payments. To the extent that the Mortgage does not provide for Escrow Payments, the Master Servicer shall use reasonable efforts consistent with the Servicing Standard to determine that any such payments are made by the Mortgagor at the time they first become due and shall ensure that the Mortgaged Property is not lost to a tax lien as a result of nonpayment and that such Mortgaged Property is not left uninsured.

  • Payment of Taxes and Other Charges Pay and discharge when due all indebtedness and all taxes, assessments, charges, levies and other liabilities imposed upon the Borrower, its income, profits, property or business, except those which currently are being contested in good faith by appropriate proceedings and for which the Borrower shall have set aside adequate reserves or made other adequate provision with respect thereto acceptable to the Bank in its sole discretion.

  • Liability for Taxes and Other Charges If any present or future tax or other governmental charge shall become payable by the Depositary or the Custodian with respect to any Shares, Deposited Securities, Receipts or ADSs, such tax or other governmental charge shall be payable by the Holders and Beneficial Owners to the Depositary and such Holders and Beneficial Owners shall be deemed liable therefor. The Company, the Custodian and/or the Depositary may withhold or deduct from any distributions made in respect of Deposited Securities and may sell for the account of a Holder and/or Beneficial Owner any or all of the Deposited Securities and apply such distributions and sale proceeds in payment of such taxes (including applicable interest and penalties) or charges, with the Holder and the Beneficial Owner remaining fully liable for any deficiency. In addition to any other remedies available to it, the Depositary and the Custodian may refuse the deposit of Shares, and the Depositary may refuse to issue ADSs, to Deliver ADRs, register the transfer, split-up or combination of ADRs and (subject to Section 7.8) the withdrawal of Deposited Securities, until payment in full of such tax, charge, penalty or interest is received. Every Holder and Beneficial Owner agrees to, and shall, indemnify the Depositary, the Company, the Custodian and each and every of their respective officers, directors, employees, agents and Affiliates against, and hold each of them harmless from, any claims with respect to taxes, additions to tax (including applicable interest and penalties thereon) arising out of any refund of taxes, reduced rate of withholding at source or other tax benefit obtained for or by such Holder and/or Beneficial Owner. The obligations of Holders and Beneficial Owners of Receipts under this Section 3.2 shall survive any transfer of Receipts, any surrender of Receipts and withdrawal of Deposited Securities, or the termination of this Deposit Agreement.

  • Payment of Taxes, Insurance and Other Charges; Collections Thereunder With respect to each Mortgage Loan, the Seller shall maintain accurate records reflecting the status of ground rents, taxes, assessments and other charges which are or may become a lien upon the Mortgaged Property and the status of premiums for Primary Mortgage Insurance Policies and fire and hazard insurance coverage and shall obtain, from time to time, all bills for the payment of such charges (including renewal premiums) and shall effect payment thereof prior to the applicable penalty or termination date and at a time appropriate for securing maximum discounts allowable, employing for such purpose deposits of the Mortgagor in the Escrow Account which shall have been estimated and accumulated by the Seller in amounts sufficient for such purposes, as allowed under the terms of the Mortgage. To the extent that a Mortgage does not provide for Escrow Payments, the Seller shall determine that any such payments are made by the Mortgagor. The Seller assumes full responsibility for the timely payment of all such bills and shall effect timely payments of all such bills irrespective of each Mortgagor’s faithful performance in the payment of same or the making of the Escrow Payments and shall make Servicing Advances to effect such payments, subject to its ability to recover such Servicing Advances pursuant to Subsections 11.05(c), 11.05(d) and 11.07(b). No costs incurred by the Seller or subservicers in effecting the payment of ground rents, taxes, assessments and other charges on the Mortgaged Properties or mortgage or hazard insurance premiums shall, for the purpose of calculating remittances to the Purchaser, be added to the amount owing under the related Mortgage Loans, notwithstanding that the terms of such Mortgage Loans so permit.

  • Taxes and Other Charges Borrowers shall pay all Taxes and Other Charges prior to delinquency, and deliver to Lender receipts for payment or other evidence satisfactory to Lender that the Taxes and Other Charges have been so paid prior to delinquency (provided, however, that Borrowers need not pay such Taxes nor furnish such receipts for payment of Taxes paid by Lender pursuant to Section 3.3). Borrowers shall not suffer and shall promptly cause to be paid and discharged any Lien against the Property, and shall promptly pay for all utility services provided to the Property. After prior notice to Lender, Borrowers, at their own expense, may contest by appropriate legal proceeding, promptly initiated and conducted in good faith and with due diligence, the amount or validity or application of any Taxes or Other Charges, provided that (i) no Event of Default has occurred and is continuing, (ii) such proceeding shall suspend the collection of the Taxes or such Other Charges, (iii) such proceeding shall be permitted under and be conducted in accordance with the provisions of any other instrument to which any Borrower is subject and shall not constitute a default thereunder, (iv) no part of or interest in the Property will be in danger of being sold, forfeited, terminated, canceled or lost, (v) Borrowers shall have furnished such security as may be required in the proceeding, or as may be requested by Lender, to insure the payment of any such Taxes or Other Charges, together with all interest and penalties thereon, which shall not be less than 125% of the Taxes and Other Charges being contested (less amounts then being retained in the Taxes and Insurance Subaccount to pay such Taxes so contested), and (vi) Borrowers shall promptly upon final determination thereof pay the amount of such Taxes or Other Charges, together with all costs, interest and penalties. Lender may, with the prior approval of Borrowers (not to be unreasonably withheld), pay over any such security or part thereof held by Lender to the claimant entitled thereto at any time when, in the judgment of Lender, the entitlement of such claimant is established.

  • Commission and Other Charges Before you begin to trade, you should obtain a clear explanation of all commission, fees and other charges for which you will be liable. These charges will affect your net profit (if any) or increase your loss.

  • Fees and Other Charges (a) The Borrower will pay a fee on all outstanding Letters of Credit at a per annum rate equal to the Applicable Margin then in effect with respect to Eurodollar Loans under the Revolving Facility, shared ratably among the Revolving Lenders and payable quarterly in arrears on each Fee Payment Date after the issuance date. In addition, the Borrower shall pay to the Issuing Lender for its own account a fronting fee of 0.25% per annum on the undrawn and unexpired amount of each Letter of Credit, payable quarterly in arrears on each Fee Payment Date after the issuance date.

  • Rent and Other Charges Base Rent, Taxes, Operating Expenses, and any other amounts which Tenant is or becomes obligated to pay Landlord under this Lease or other agreement entered into in connection herewith, are sometimes herein referred to collectively as "Rent," and all remedies applicable to the non-payment of Rent shall be applicable thereto. Rent shall be paid at any office maintained by Landlord or its agent at the Property, or at such other place as Landlord may designate.

  • Commissions and Other Charges (a) The Borrower shall pay to the Administrative Agent, for the account of the Issuing Lender and the L/C Participants, a letter of credit commission with respect to each Letter of Credit in an amount equal to the product of (i) the face amount of such Letter of Credit times (ii) an annual percentage equal to the Applicable Margin with respect to LIBOR Rate Loans in effect on the date of issuance of such Letter of Credit. Such commission shall be payable quarterly in arrears on the last Business Day of each calendar quarter and on the Maturity Date.

  • Liability of Holder for Taxes and Other Charges Any tax or other governmental charge payable with respect to any ADR or any Deposited Securities or ADSs shall be payable by the Holders and Beneficial Owners to the Depositary. The Company, the Custodian and/or Depositary may withhold or deduct from any distributions made in respect of Deposited Securities and may sell for the account of a Holder and/or Beneficial Owner any or all of the Deposited Securities and apply such distributions and sale proceeds in payment of such taxes (including applicable interest and penalties) or charges, the Holder and the Beneficial Owner hereof remaining liable for any deficiency. The Custodian may refuse the deposit of Shares and the Depositary may refuse to issue ADSs, to deliver ADRs, register the transfer of ADSs, register the split-up or combination of ADRs and (subject to paragraph (24) hereof) the withdrawal of Deposited Securities until payment in full of such tax, charge, penalty or interest is received. Every Holder and Beneficial Owner agrees to indemnify the Depositary, the Company, the Custodian, and any of their agents, officers, employees and Affiliates for, and hold each of them harmless from, any claims with respect to taxes (including applicable interest and penalties thereon) arising from any tax benefit obtained for such Holder and/or Beneficial Owner.

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