Common use of Reserve Payments Clause in Contracts

Reserve Payments. In connection with the ▇▇▇▇▇▇ ▇▇▇ Financing, Landlord is or may be required to make payments to ▇▇▇▇▇▇ Mae from time to time in order to maintain various reserves ("▇▇▇▇▇▇ ▇▇▇ Reserves") required under the ▇▇▇▇▇▇ Mae Loan Documents, including, without limitation, reserves for taxes, insurance and replacements relating to the Leased Property (each an "▇▇▇▇▇▇ ▇▇▇ Reserve Payment"). So long as the ▇▇▇▇▇▇ Mae Financing encumbers the Leased Property, Tenant shall deposit with Landlord (at least five (5) Business Days prior to being due and payable to ▇▇▇▇▇▇ ▇▇▇), the greater of (a) the amount of the required ▇▇▇▇▇▇ Mae Reserve Payments or (b) the amounts Tenant would otherwise be required to deposit pursuant to either (A) the terms and conditions of Section 3.3 hereof with respect to deposits for taxes and insurance, and (B) the terms and conditions of Section 11.3 hereof with respect to deposits for replacements; provided, however, that Tenant shall fund and make any and all other sums, reserves and deposits as may be required under said Sections 3.3 and 11.3, respectively, if any Event of Default has occurred or if any Potential Default is continuing. If an Event of Default has occurred, Tenant shall be required to make payments under both clause (a) and clause (b) above. At least five (5) Business Days prior to being due and payable to ▇▇▇▇▇▇ ▇▇▇, Tenant shall pay to Landlord any expenses charged by ▇▇▇▇▇▇ Mae to Landlord for compliance with or calculation of reserves required under the ▇▇▇▇▇▇ ▇▇▇ Loan Documents.

Reserve Payments. In connection with the ▇▇▇▇▇▇ ▇▇▇ Financing, Landlord is or may be required to make payments to ▇▇▇▇▇▇ Mae from time to time in order to maintain various reserves ("“▇▇▇▇▇▇ ▇▇▇ Reserves"”) required under the ▇▇▇▇▇▇ Mae Loan Documents, including, without limitation, reserves for taxes, insurance and replacements relating to the Leased Property (each an "“▇▇▇▇▇▇ ▇▇▇ Reserve Payment"”). So long as the ▇▇▇▇▇▇ Mae Financing encumbers the Leased Property, Tenant shall deposit with Landlord (at least five (5) Business Days prior to being due and payable to ▇▇▇▇▇▇ ▇▇▇), the greater of (a) the amount of the required ▇▇▇▇▇▇ Mae Reserve Payments or (b) the amounts Tenant would otherwise be required to deposit pursuant to either (A) the terms and conditions of Section 3.3 hereof with respect to deposits for taxes and insurance, and (B) the terms and conditions of Section 11.3 hereof with respect to deposits for replacements; provided, however, that Tenant shall fund and make any and all other sums, reserves and deposits as may be required under said Sections 3.3 and 11.3, respectively, if any Event of Default has occurred or if any Potential Default is continuing. If an Event of Default has occurred, Tenant shall be required to make payments under both clause (a) and clause (b) above. At least five (5) Business Days prior to being due and payable to ▇▇▇▇▇▇ ▇▇▇, Tenant shall pay to Landlord any expenses charged by ▇▇▇▇▇▇ Mae to Landlord for compliance with or calculation of reserves required under the ▇▇▇▇▇▇ ▇▇▇ Loan Documents.