Property Reserves Sample Clauses

Property Reserves. Borrower has agreed to deposit with Lender a letter of credit(s) (if more than one, collectively if the context so requires the "Letter of Credit") as detailed below to be held by Lender to reimburse Borrower for the costs of certain capital improvements to the Premises as described in Schedule 1 hereto and such other capital improvements to the Premises that Lender determines, in its sole discretion, provide a material benefit/improvement to the Premises upon completion thereof (i.e. roof replacement/repair, new decks, rehabilitation of individual units) ("Capital Improvements"). The Letter of Credit and any renewal or replacement thereof and any proceeds therefrom shall be held by Lender as additional security for the Loan and are hereafter referred to as the "Property Reserves". The term "
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Property Reserves. Borrower shall establish and maintain such operating, replacement and/or tenant improvement reserves for the Property as required by Bank, and Borrower hereby grants to Bank a security interest in all such reserves. Borrower agrees to execute such supplemental security documentation as Bank may request confirming such security interest.
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Property Reserves. You will maintain a minimum reserve amount in our trust account for each property managed by us in the amount of $500 for a leased property and $600 for a pending or actual vacant property. We are not required to incur any expenses, such as advertising or repairs, unless and until your account meets this required minimum reserve. You expressly waive any and all claims against us for any damages arising out of the failure to pay any amounts in relation to the property when that failure is due to insufficient funds in your account.
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Property Reserves. The following Property Reserves shall be held by Lender as additional security for the Loan and disbursed or applied as hereinafter provided:
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Property Reserves. Borrower has agreed to deposit with Lender funds and/or a letter of credit(s), if any (if more than one, collectively if the context so requires the “Letter of Credit”) as detailed below to be held by Lender (i) to be used to pay Borrower on a construction-basis certain future tenant improvements which are to be borne by Borrower in accordance with approved Leases of space at the Premises (“Tenant Improvements”) and certain future reasonable leasing commissions to be paid to third party brokers by Borrower pursuant to written agreements covering leasing activities at the Premises (“Leasing Commissions”) for the Super Micro Computer, Inc. leased space (the “Super Micro Space”) and for the Xxxx Xxxxxxx Inc. leased space (the “AR Space”), and (ii) to reimburse Borrower for the costs associated for certain seismic repairs, if deemed required, all of which are detailed herein and released and disbursed by Lender as provided herein. The funds as well as any Letter of Credit and any renewal or replacement thereof and any proceeds therefrom shall be held by Lender as additional security for the Loan and are hereafter referred to as the “Property Reserves”. The term “Escrow Release” as used herein shall refer to a disbursement of all funds from the Property Reserves.
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Property Reserves. The Borrowers shall deposit with Lender certain funds to be held by Lender as required by and in accordance with the provisions of the Property Reserves Agreement (collectively, the "Property Reserves").
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Property Reserves. Borrower has agreed to deposit with Lender funds and letter of credit(s), if any (if more than one, collectively if the context so requires the "Letter of Credit") as detailed below ("
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Property Reserves. The Borrowers shall deposit with Lender certain funds to be held by Lender as required by and in accordance with the provisions of the Property Reserves Agreement (collectively, the "Property Reserves"). (C) The Borrowers acknowledge that they have opened a trust account (the "Collection Account") at the Collection Account Bank, in the name of Lender, as described in the Collection Account Agreement. Borrower agrees to cause the Collection Account to be operated and maintained as required by and in accordance with the provisions of the Collection Account Agreement, which provisions are incorporated herein by reference. In consideration of the 28 <PAGE> establishment of and Lender's continued administration and handling of the accounts established under the Collection Account Agreement, the Borrowers hereby agree that Lender shall be paid the following non-refundable fees: (i) a one-time Five Hundred and 00/100 Dollar ($500.00) fee for establishing the Collection Account Agreement, which Lender hereby acknowledges receipt of same; and (ii) a monthly fee of Twenty-five and 00/100 Dollars ($25.00) for Lender's continued administration and handling of the Collection Account Agreement, which Lender shall deduct from any funds received by Lender from the Collection Account. Section 5.3
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Related to Property Reserves

  • Insurance Reserves Lender may require Grantor to maintain with Lender reserves for payment of insurance premiums, which reserves shall be created by monthly payments from Grantor of a sum estimated by Lender to be sufficient to produce, at least fifteen (15) days before the premium due date, amounts at least equal to the insurance premiums to be paid. If fifteen (15) days before payment is due, the reserve funds are insufficient, Grantor shall upon demand pay any deficiency to Lender. The reserve funds shall be held by Lender as a general deposit and shall constitute a non-interest-bearing account which Lender may satisfy by payment of the insurance premiums required to be paid by Grantor as they become due. Lender does not hold the reserve funds in trust for Grantor, and Lender is not the agent of Grantor for payment of the insurance premiums required to be paid by Grantor. The responsibility for the payment of premiums shall remain Grantor's sole responsibility.

  • Availability Reserves All Revolving Loans otherwise available to Borrower pursuant to the lending formulas and subject to the Maximum Credit and other applicable limits hereunder shall be subject to Lender's continuing right to establish and revise Availability Reserves.

  • Unencumbered Properties Each Property included in any calculation of Unencumbered Asset Value or Unencumbered NOI satisfied, at the time of such calculation, all of the requirements contained in the definition of “Unencumbered Property Criteria.”

  • Leased Properties Section 3.22 of the Disclosure Schedule sets forth a list of all of the leases and subleases ("Leases") and each leased and subleased parcel of real property in which the Company has a leasehold or subleasehold interest or to which the Company is a party either as landlord or sublandlord (the "Leased Real Property"). Each of the Leases are in full force and effect, and the Company holds a valid and existing leasehold or subleasehold interest or Landlord or Sublandlord interest as applicable, under each of the Leases described in Section 3.22 of the Disclosure Schedule. The Company has delivered to HK true, correct, complete and accurate copies of each of the Leases. With respect to each Lease set forth on Section 3.22 of the Disclosure Schedule: (i) the Lease is legal, valid, binding, enforceable and in full force and effect; (ii) to the Knowledge of the Company the Lease will continue to be legal, valid, binding, enforceable and in full force and effect on identical terms following the Closing; (iii) neither the Company, nor, to the Knowledge of the Company, any other party to the Lease, is in breach or default, and no event has occurred which, with notice or lapse of time, would constitute such a breach or default by the Company or permit termination, modification or acceleration under the Lease by any other party thereto; (iv) the Company has not, and, to the Knowledge of the Company, no third party has repudiated any provision of the Lease; (v) there are no disputes, oral agreements, or forbearance programs in effect as to the Lease; (vi) the Lease has not been modified in any respect, except to the extent that such modifications are disclosed by the documents delivered to HK; (vii) the Company has not assigned, transferred, conveyed, mortgaged, deeded in trust or encumbered any interest in the Lease (except for Permitted Liens); and (viii) the Lease is fully assignable to HK without the necessity of any consent or the Company shall obtain all necessary consents prior to the Closing.

  • Properties, Business, Insurance The Company shall maintain and cause each of its subsidiaries to maintain as to their respective properties and business, with financially sound and reputable insurers, insurance against such casualties and contingencies and of such types and in such amounts as is customary for companies similarly situated, which insurance shall be deemed by the Company to be sufficient.

  • Borrowing Base Properties (a) Except where the failure to comply with any of the following would not have a Material Adverse Effect, each of Parent and Borrower shall, and shall use commercially reasonable efforts to cause each other Loan Party or the applicable tenant, to:

  • Real Properties The Company does not have an interest in any real property, except for the Leases (as defined below).

  • Existence; Businesses and Properties (a) Do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence, except as otherwise expressly permitted under Section 6.05.

  • Leasehold Properties In relation to those Properties which are leasehold:

  • Properties and Insurance (a) HUBCO and its Subsidiaries have good and, as to owned real property, marketable title to all material assets and properties, whether real or personal, tangible or intangible, reflected in HUBCO's consolidated balance sheet as of December 31, 1997, or owned and acquired subsequent thereto (except to the extent that such assets and properties have been disposed of for fair value in the ordinary course of business since December 31, 1997), subject to no encumbrances, liens, mortgages, security interests or pledges, except (i) those items that secure liabilities that are reflected in said balance sheet or the notes thereto or that secure liabilities incurred in the ordinary course of business after the date of such balance sheet, (ii) statutory liens for amounts not yet delinquent or which are being contested in good faith, (iii) such encumbrances, liens, mortgages, security interests, pledges and title imperfections that are not in the aggregate material to the business, operations, assets, and financial condition of HUBCO and its subsidiaries taken as a whole and (iv) with respect to owned real property, title imperfections noted in title reports. Except as disclosed in the HUBCO Disclosure Schedule, HUBCO and its Subsidiaries as lessees have the right under valid and subsisting leases to occupy, use, possess and control all property leased by HUBCO or its Subsidiaries in all material respects as presently occupied, used, possessed and controlled by HUBCO and its Subsidiaries.

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