Leasing Reserve Funds. (a) Borrower shall deposit (or cause to be deposited) into an Eligible Account held by Lender or Servicer (the “Leasing Reserve Account”) on each Monthly Payment Date occurring on and after the occurrence and during the continuance of a Trigger Period, the sum of $198,178 (the “Leasing Reserve Monthly Deposit”) for tenant improvements and leasing commissions. In addition Borrower shall deposit into the Replacement Reserve Account all lease termination fees required to be deposited with Lender pursuant to Section 4.14(d) (“Lease Termination Deposits”). Amounts deposited pursuant to this Section 8.3 are referred to herein as the “Leasing Reserve Funds”.
Leasing Reserve Funds. (a) On each Monthly Payment Date, Borrower shall deposit into an Eligible Account held by Lender or Servicer (the “Leasing Reserve Account”) an amount equal to the Leasing Reserve Monthly Deposit for tenant improvements and leasing commissions related to each Individual Continental Property that may be incurred following the date hereof in accordance with Leases entered into pursuant to this Agreement. In addition, Borrower shall deposit in the Leasing Reserve Account, any early termination fee or payment or other termination fee or payment paid by any Tenant under a Major Lease at an Individual Continental Property to Borrower pursuant to Section 4.14(d) hereof. Amounts deposited pursuant to this Section 8.3 are referred to herein as the “Leasing Reserve Funds”.
Leasing Reserve Funds. (a) Borrower shall deposit (to the extent not deposited pursuant to Section 9.3(f) hereof) into an Eligible Account held by Cash Management Bank (the “Leasing Reserve Account”) on each Monthly Payment Date following the occurrence and during the continuance of a Trigger Period, the Leasing Reserve Monthly Deposit for tenant improvements and leasing commissions that may be incurred following the date hereof (but not including any tenant improvements or leasing commissions already reserved for pursuant to Section 8.8 hereof). Amounts deposited pursuant to this Section 8.3 are referred to herein as the “Leasing Reserve Funds”.
Leasing Reserve Funds. (a) Borrower shall deposit into an Eligible Account held by Administrative Agent, for the benefit of Lenders (the “Leasing Reserve Account”) on each Monthly Payment Date occurring after the occurrence of a Downgrade Trigger with respect to any Downgrade Tenant, the sum of $100,000.00 per month for each such Downgrade Tenant (the “Leasing Reserve Monthly Deposit”) until such time as the balance in the Leasing Reserve Account allocable to such Downgrade Tenant equals the then-current annual base rent for such Downgrade Tenant under its Lease (the “Leasing Reserve Cap”) whereupon (provided no Event of Default has then occurred and is continuing) further deposits shall be suspended with respect to such Downgrade Tenant. Deposits into the Leasing Reserve Account shall be for tenant improvements and leasing commissions that may be incurred following the date hereof. Amounts deposited pursuant to this Section 8.3 are referred to herein as the “Leasing Reserve Funds”. So long as no Event of Default exists, Administrative Agent shall disburse funds from the Leasing Reserve Account to Borrower monthly, on a space by space basis. The portion of the Leasing Reserve Funds to be disbursed with respect to any space shall be equal to the lesser of (i) the actual costs incurred for tenant improvements, leasing commissions and other leasing costs for such space pursuant to evidence as required by Section 8.3(c) hereof, and (ii) an amount determined by multiplying (x) the total number of rentable square feet contained in such space by (y) the average per square foot base rent paid by the applicable prior Tenant immediately preceding the termination or expiration of the such Tenant’s Lease, calculated based on the total square footage of space occupied by such Tenant and the total annual aggregate base rent.
Leasing Reserve Funds. (a) Subject to Subsection 8.5(c) below, Borrower shall deposit with Lender on each Monthly Payment Date the sum of $57,090.75 (the “Leasing Reserve Monthly Deposit”) for tenant improvements and leasing commissions that may be incurred following the date hereof. Amounts deposited pursuant to this Section 8.5 are referred to herein as the “Leasing Reserve Funds”. CH1 6687939v.9
Leasing Reserve Funds. (a) Borrower shall deposit into an Eligible Account held by Lender or Servicer (the “Leasing Reserve Account”) on each Monthly Payment Date the sum of $22,155.33 (the “Leasing Reserve Monthly Deposit”) until such time as the amount deposited in the Leasing Reserve Account is equal to $1,329,320 (the “Leasing Reserve Threshold”), for tenant improvements and leasing commissions that may be incurred following the date hereof. Amounts deposited pursuant to this Section 8.3 are referred to herein as the “Leasing Reserve Funds”. Borrower shall replenish the Leasing Reserve Account (up to the Leasing Reserve Threshold) with Leasing Reserve Monthly Deposits if Borrower draws down the Leasing Reserve Account after the Leasing Reserve Threshold is met.
Leasing Reserve Funds. (a) Borrower shall deposit (to the extent not deposited pursuant to Section 9.3(g) hereof) into an Eligible Account held by Lender or Servicer (the “Leasing Reserve Account”) on each Monthly Payment Date an amount equal to one-twelfth (1/12th) of $1.25 multiplied by the aggregate square footage of all Medical Office Buildings (the “Leasing Reserve Monthly Deposit”) for tenant improvements and leasing commissions that may be incurred following the date hereof; provided, that, Borrower shall not be required to make any deposits into the Leasing Reserve Account for so long as the Debt Yield is greater than 10%. Amounts deposited pursuant to this Section 8.3 or pursuant to Section 9.3(g) hereof are referred to herein as the “Leasing Reserve Funds”.
Leasing Reserve Funds. (a) During a Trigger Period, Borrower shall deposit into an Eligible Account held by Administrative Agent or Servicer (the “Leasing Reserve Account”) (i) on each Monthly Payment Date the sum of $146,485.42 (the “Leasing Reserve Monthly Deposit”) for tenant improvements and leasing commissions that may be incurred following the date hereof and (ii) any Lease Termination Payment paid by any Tenant at Property but only to the extent that such Lease Termination Payment paid by such Tenant exceeds Five Hundred Thousand and No/100 Dollars ($500,000.00). Amounts deposited pursuant to this Section 8.3 are referred to herein as the “Leasing Reserve Funds”.
Leasing Reserve Funds. (a) On the Closing Date, Borrower shall deposit into an Eligible Account held by Lender or Servicer (the "Leasing Reserve Account") the sum of $0.00. On each Monthly Payment Date, to the extent the funds on deposit therein are less than $550,000.00, Borrower shall deposit into the Leasing Reserve Account the sum of $12,245.00 (the "Leasing Reserve Monthly Deposit") for tenant improvements and leasing commissions that may be incurred following the date hereof. Amounts deposited pursuant to this Section 8.3 are referred to herein as the "Leasing Reserve Funds".
Leasing Reserve Funds. (a) Borrower shall deposit with Lender on each Monthly Payment Date the sum of $11,115 (the “Leasing Reserve Monthly Deposit”) for tenant improvements and leasing commissions that may be incurred following the date hereof; however, with respect to the period commencing on the date hereof through the Monthly Payment Date occurring in November, 2019, provided no Event of Default is continuing and the Debt Yield is no less than 9.0%, Borrower shall not be required to make the Leasing Reserve Monthly Deposit. Amounts deposited pursuant to this Section 8.5 are referred to herein as the “Leasing Reserve Funds”. All Leasing Reserve Funds shall be held by Lender or Servicer in an Eligible Account (the “Leasing Reserve Account”) which, during the continuation of a Cash Trap Event Period, may be a sub-account of the Cash Management Account.
