Special Reserve Funds. (a) On the Closing Date, Borrower shall deposit into an Eligible Account held by Lender or Servicer (the “Special Reserve Account”) an amount equal to $51,055,902, such amount representing, in the aggregate, the Allocated Loan Amounts and the “Allocated Loan Amounts” (as defined in each Mezzanine Loan Agreement) of the Special Reserve Properties for which Lender has not received a Ground Lease and a Ground Lease estoppel in form and substance reasonably acceptable to Lender (the “Special Reserve Shortfalls”) as of the Closing Date. Amounts deposited pursuant to this Section 8.10 are referred to herein as the “Special Reserve Funds.”
Special Reserve Funds. In addition to the amounts Borrower is required to maintain in the Cash Collateral Account pursuant to subpart (a) above, Borrower shall, subject to the terms and conditions of this section, at all times maintain at least $6,000,000 of immediately available funds in the Cash Collateral Account, which funds shall be designated as the "Special Reserve Funds" (such funds being referred to herein as the "Special Reserve Funds"). Borrower shall be permitted to request the use of the Special Reserve Funds at any time prior to the Termination Date on the following conditions:
Special Reserve Funds. On and after October 31, 2002, Borrower shall maintain at least $6,000,000 of immediately available funds in the Cash Collateral Account, which funds shall be (i) in addition to all other amounts Borrower is required to maintain pursuant to Section 3.10(b) above and (ii) designated by the LIFO Agent as the "Special Reserve Funds" (such funds being referred to herein as the "Special Reserve Funds"). Borrower shall not use the Special Reserve Funds except as set forth herein. If, after the end of any fiscal quarter of Borrower, a Fixed Charge Deficit exists, then Borrower may use the Special Reserve Funds for the payment of interest and scheduled principal payments with respect to the Subordinated Lender Obligations and the LIFO Lender Obligations in accordance with the terms of the Subordinated Lender Documents and the LIFO Lender Documents. In addition, if at any time the amount of Special Reserve Funds is less than $6,000,000, then Borrower will deposit into the Cash Collateral Account any amounts that exist at the end of any fiscal quarter as a result of a Fixed Charge Surplus up to $6,000,000.
Special Reserve Funds. (a) On the Closing Date, Borrower shall deposit into an Eligible Account held by Cash Management Bank (the “Special Reserve Account”) an amount equal to $30,055,664, such amount representing, in the aggregate, the Allocated Loan Amounts of the Special Reserve Properties for which as of the Closing Date (i) Lender has not received a Ground Lease and a Ground Lease estoppel in form and substance reasonably acceptable to Lender (not including the Individual Property located at 0000 Xx. Xxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxx (the “Valdosta Property”) which is governed pursuant to the immediately succeeding clause (ii)) and (ii) Lender has not received the Valdosta Bond Documents, the Valdosta Power of Attorney, the Assignment of Bond and Deed, the Security Instrument executed by Valdosta-Lowndes County Industrial Authority and an estoppel and UCC financing statement in connection therewith (and Title Insurance Policy related thereto), a New York opinion with respect to the creation of the lien under New York law with respect to the Article 9 UCC collateral under the Security Instrument related to the Valdosta Property, a Georgia enforceability opinion with respect to the Security Instrument related to the Valdosta Property, the Valdosta Power of Attorney and the Assignment of Bond and Deed, a Delaware capacity opinion with respect to Borrower’s execution of the Valdosta Power of Attorney, Assignment of Bond and Deed and the Security Instrument related to the Valdosta Property and a Delaware enforceability opinion with respect to the grant and perfection of the personal property security interest created by the Security Instrument related to the Valdosta Property and the Assignment of Bond and Deed and the UCC financing statements filed in connection therewith, in each instance in form and substance reasonably acceptable to Lender (collectively, the “Valdosta Required Documents” and clauses (i) and (ii), collectively, the “Special Reserve Shortfalls”). Amounts deposited pursuant to this Section 8.9 are referred to herein as the “Special Reserve Funds.”
Special Reserve Funds. (a) Borrower shall establish on the date hereof an Eligible Account with Lender or Lender’s agent (the “Special Reserve Account”) into which Borrower shall deposit on each Payment Date occurring after the occurrence and during the continuance of (i) a Pre-Expiration Event, all Excess Cash Flow until the applicable Pre-Expiration Event Cure has occurred or (ii) an Unflagged Trigger Event, all Excess Cash Flow until the applicable Unflagged Trigger Event Cure has occurred. Amounts so deposited shall hereinafter be referred to as the “Special Reserve Funds.”
Special Reserve Funds. Section 8.10. The Accounts Generally Section 8.11. Letters of Credit
Special Reserve Funds. Section 3.10 of the Restructuring Agreement is hereby amended and restated in its entirety as follows:
Special Reserve Funds. 119 8.06 General Provisions Regarding Trust Accounts..................................................120 8.07 Reports by Trustee to Bondholders............................................................122 8.08 Reports by Trustee...........................................................................122 8.09 Reports by Independent Accountants...........................................................123 8.10 Expense Fund.................................................................................124 8.11 Substitution of Certificates with Eligible Substitute Certificates...........................125
Special Reserve Funds. (a) On or before the Closing Date for a Series, to the extent required by the related Terms Indenture, the Issuer shall open, at the Corporate Trust Office, one or more accounts which shall collectively be the "Special Reserve Fund" for such Series. Any moneys or other assets received by the Trustee for deposit in the Special Reserve Fund for a Series, together with any Eligible Investments or other investments as permitted by the related Terms Indenture in which such moneys are or will be invested or reinvested during the period from the date of delivery thereof until such moneys are applied or are released to the Issuer, as provided in this Article VIII or the applicable Terms Indenture, shall be held by the Trustee as part of the Trust Estate Granted to secure the Bonds of such Series, subject to disbursement and withdrawal as provided in the related Terms Indenture.
Special Reserve Funds. Section 3.10 of the LIFO Restructuring Agreement is hereby amended to add the following new subpart (e) thereto:
