Replacement Reserves. On the first day of each month, Borrower shall deposit the Monthly Reserve Deposit with Lender. All such funds so deposited (the "Replacements Reserve Fund") shall be placed by Lender in an interest bearing money market account, shall be subject to the terms of the Pledge Agreement and shall be applied toward the payment of Replacements in the manner described below.
Appears in 2 contracts
Sources: Assumption, Extension and Modification Agreement (Alterra Healthcare Corp), Collateral Disposition Agreement (Alterra Healthcare Corp)