Common use of Impound Account Clause in Contracts

Impound Account. At Landlord’s option following the occurrence and during the continuation of an Event of Default (to be exercised by thirty (30) days’ Notice to Tenant); Tenant shall be required to deposit, at the time of any payment of Rent, an amount equal to one-twelfth of the sum of (i) Tenant’s estimated annual rent and personal property taxes required pursuant to Section 4.1 hereof (as reasonably determined by Landlord), and (ii) Tenant’s estimated annual maintenance expenses and insurance premium costs pursuant to Articles IX and XIII hereof (as reasonably determined by Landlord). Such amounts shall be applied to the payment of the obligations in respect of which said amounts were deposited in such order of priority as Landlord shall reasonably determine, on or before the respective dates on which the same or any of them would become delinquent. The reasonable cost of administering such impound account shall be paid by ▇▇▇▇▇▇. Nothing in this Section 4.3 shall be deemed to affect any right or remedy of Landlord hereunder.

Impound Account. At Landlord’s option following the occurrence and during the continuation of an a monetary Tenant Event of Default (to be exercised by thirty (30) days’ Notice written notice to Tenant); , Tenant shall be required to deposit, at the time of any payment of Rent, an amount equal to one-twelfth (1/12th) of the sum of (i) Tenant’s estimated annual rent real and personal property taxes required pursuant to Section 4.1 hereof (as reasonably determined by Landlord), and (ii) Tenant’s estimated annual maintenance expenses and insurance premium costs pursuant to Articles IX and Article XIII hereof (as reasonably determined by Landlord). Such amounts shall be applied to the payment of the obligations in respect of which said amounts were deposited in such order of priority as Landlord shall reasonably determinedeposited, on or before the respective dates on which the same or any of them would become delinquentdue. The reasonable cost of administering such impound account shall be paid by ▇▇▇▇▇▇Tenant. Nothing in this Section 4.3 4.4 shall be deemed to affect any other right or remedy of Landlord hereunder.

Impound Account. At Landlord’s option following the occurrence and during the continuation of an a monetary Tenant Event of Default (to be exercised by thirty (30) days’ Notice written notice to Tenant); , Tenant shall be required to deposit, at the time of any payment of Rent, an amount equal to one-twelfth (1/12th) of the sum of (i) Tenant’s estimated annual rent real and personal property taxes required pursuant to Section 4.1 hereof (as reasonably determined by Landlord), ) and (ii) Tenant’s estimated annual maintenance expenses and insurance premium costs pursuant to Articles IX and Article XIII hereof (as reasonably determined by Landlord). Such amounts shall be applied to the payment of the obligations in respect of which said amounts were deposited in such order of priority as Landlord shall reasonably determinedeposited, on or before the respective dates on which the same or any of them would become delinquentdue. The reasonable cost of administering such impound account shall be paid by ▇▇▇▇▇▇Tenant. Nothing in this Section 4.3 4.4 shall be deemed to affect any other right or remedy of Landlord hereunder.

Impound Account. At Landlord’s option following the occurrence and during the continuation of an Event of Default (to be exercised by thirty (30) days’ Notice to Tenant); , Tenant shall be required to deposit, at the time of any payment of Rent, an amount equal to one-twelfth of the sum of (i) Tenant’s estimated annual rent real and personal property taxes required pursuant to Section 4.1 hereof (as reasonably determined by Landlord), and (ii) Tenant’s estimated annual maintenance expenses and insurance premium costs pursuant to Articles IX and Article XIII hereof (as reasonably determined by Landlord). Such amounts shall be applied to the payment of the obligations in respect of which said amounts were deposited in such order of priority as Landlord shall reasonably determine, on or before the respective dates on which the same or any of them would become delinquent. The reasonable cost of administering such impound account shall be paid by ▇▇▇▇▇▇Tenant. Nothing in this Section 4.3 shall be deemed to affect any right or remedy of Landlord hereunder.

Impound Account. At Landlord’s option following the occurrence and during the continuation of an a monetary Tenant Event of Default (to be exercised by thirty (30) days’ Notice written notice to Tenant); , Tenant shall be required to deposit, at the time of any payment of Rent, an amount equal to one-twelfth (1/12th) of the sum of (i) Tenant’s estimated annual rent real and personal property taxes required pursuant to Section 4.1 hereof (as reasonably determined by Landlord), ) and (ii) Tenant’s estimated annual maintenance expenses and insurance premium costs pursuant to Articles IX and Article XIII hereof (as reasonably determined by Landlord). Such amounts shall be applied to the payment of the obligations in respect of which said amounts were deposited in such order of priority as Landlord shall reasonably determinedeposited, on or before the respective dates on which the same or any of them would become delinquentdue. The reasonable cost of administering such impound account shall be paid by ▇▇▇▇▇▇Tenant. Nothing in this Section 4.3 4.4 shall be deemed to affect any other right or remedy of Landlord hereunder.. ARTICLE V