Tax and Insurance Fund. Mortgagor shall pay to Mortgagee on the first day of each calendar month such amounts as Mortgagee from time to time estimates to be sufficient to create and maintain a reserve fund from which (i) to pay the Taxes and Other Charges, at least thirty (30) days prior to the date they are due without the payment of any penalties or interest, and (ii) to pay, at least thirty (30) days prior to their due date for the renewal of the coverage afforded by the Policies upon the expiration thereof, the insurance premiums for the Policies estimated by Mortgagee to be payable on such due date, (said amounts in (i) and (ii) above hereafter called the "Tax and Insurance Fund").
Tax and Insurance Fund. 11 Taxes............................................................................................10
Tax and Insurance Fund. Mortgagor shall pay to Mortgagee on the first day of each calendar month such amounts as Mortgagee from time to time estimates to be sufficient to create and maintain a reserve fund from which (i) to pay the Taxes and Other Charges, at least thirty (30) days prior to the date they are due without the payment of any penalties or interest, and (ii) to pay, at least thirty (30) days prior to their due date for the renewal of the coverage afforded by the Policies upon the expiration thereof, the insurance premiums for the Policies estimated by Mortgagee to be payable on such due date, (said amounts in (i) and (ii) above hereafter called the "Tax and Insurance Fund"). Notwithstanding the foregoing provisions of this clause (a), Mortgagor shall not be required to create and maintain a reserve fund from which to pay real estate taxes, assessments and other charges as long as all of the following conditions remain satisfied:
Tax and Insurance Fund. 10 Taxes..........................................................................9 Tenant Improvement and Leasing Commission Reserve Fund........................11
Tax and Insurance Fund. Grantor shall pay to Grantee on the first day of each calendar month such amounts as Grantee from time to time estimates to be sufficient to create and maintain a reserve fund from which (i) to pay the Taxes and Other Charges, at least thirty (30) days prior to the date they are due without the payment of any penalties or interest, and (ii) to pay, at least thirty (30) days prior to their due date for the renewal of the coverage afforded by the Policies upon the Loan No. 6518403 expiration thereof, the insurance premiums for the Policies estimated by Grantee to be payable on such due date, (said amounts in (i) and (ii) above hereafter called the "TAX AND INSURANCE FUND").
Tax and Insurance Fund. Tenant shall pay to the Landlord on account of such real property taxes and insurance expenses on the first day of each month such respective amounts as Landlord shall from time to time estimate and so notify Tenant are required for Landlord to establish a fund (which shall not bear interest) with which to pay such taxes and expenses before delinquency except that, with respect to the first partial month's and first full calendar month's taxes and expenses, Tenant shall pay its pro-rata share of the same concurrently with Tenant's first delivery to Landlord of Tenant's-executed counterparts of this Lease. Tenant's pro-rata share of insurance expenses and real property taxes payable pursuant to paragraph 16 may be treated as insurance expenses or real property taxes, as appropriate, pursuant to this paragraph, and vice versa. Landlord shall deliver to Tenant at least once annually a statement setting forth the actual real property taxes and insurance expenses allocable to the Premises and the basis for computing the same. If such actual taxes and expenses exceed Tenant's payments hereunder, Tenant shall pay the deficiency to Landlord within five (5) days after receipt of such statement. If payments made by Tenant for such year exceed such actual taxes and expenses, Tenant shall be entitled to credit the excess against payments next coming due to Landlord for such taxes and expenses.
Tax and Insurance Fund. Trustor shall pay to Beneficiary on the first day of each calendar month such amounts as Beneficiary from time to time estimates to be sufficient to create and maintain a reserve fund from which (i) to pay the Taxes and Other METRO SQUARE SHOPPING CENTER LOAN NO. 6518303 Charges, at least thirty (30) days prior to the date they are due without the payment of any penalties or interest, and (ii) to pay, at least thirty (30) days prior to their due date for the renewal of the coverage afforded by the Policies upon the expiration thereof, the insurance premiums for the Policies estimated by Beneficiary to be payable on such due date, (said amounts in (i) and (ii) above hereafter called the "TAX AND INSURANCE FUND").
Tax and Insurance Fund. Along with Minimum Annual Rent, Tenant shall pay to Landlord on account of such real property taxes and insurance expenses on the first day of each calendar month such respective amounts as Landlord shall from time to time estimate and so notify Tenant are required (the initial estimate being set forth in Article 1) for Landlord to establish a fund (which shall not bear interest) with which to pay such expenses prior to delinquency. At Landlord’s option, Xxxxxx’s pro rata share of real property taxes payable pursuant to Article 4 may be treated as real property taxes pursuant to this Article. Landlord shall deliver to Tenant at least once annually a statement setting forth the actual real property taxes and insurance expenses allocable to the Premises and the basis for computing the same, and if such actual expenses exceed Xxxxxx’s payments hereunder for the applicable Lease Year, Tenant shall pay the deficiency to Landlord within ten (10) days after receipt of such statement. If payments made by Tenant for said Lease Year exceed such actual expenses, Tenant shall be entitled to a refund of any such excess which shall accompany Landlord’s annual statement. The allocation of insurance expenses to the Premises shall be a fractional portion of the insurance expenses for the Commercial Center, the numerator of which shall be the Floor Area contained in the Premises and the denominator of which shall be the Floor Area contained in the Commercial Center.
Tax and Insurance Fund. Borrower shall pay to Lender on the first day of each calendar month such amounts as Lender from time to time estimates to be sufficient to create and maintain a reserve fund from which (i) to pay the Taxes and Other Charges prior to the date they are due without the payment of any penalties or interest, and (ii) to pay, at least thirty (30) days prior to their due date for the renewal of the coverage afforded by the Policies upon the expiration thereof, the insurance premiums for the Policies estimated by Lender to be payable on such due date, (said amounts in (i) and (ii) above hereafter called the “Tax and Insurance Fund”). Notwithstanding the foregoing provisions of this clause (a), Borrower shall not be required to create and maintain a reserve fund from which to pay hazard insurance premiums as long as all of the following conditions remain satisfied:
Tax and Insurance Fund. Tenant shall pay to Landlord on the first day of each calendar month such amounts as Landlord shall from time to time estimate and so notify Tenant as are required for Landlord to establish a fund with which to pay Real Property Taxes and Insurance expenses prior to delinquency. Landlord shall use commercially reasonable efforts to maintain such fund in an interest-bearing account. If interest is earned by Landlord on the sums so deposited by Tenant, such interest shall accrue to the benefit of Tenant. Tenant's Proportionate Share of Real Property Taxes payable pursuant to Article 18 hereof shall be included as Real Property Taxes pursuant to this Article. Landlord shall deliver to Tenant at least once annually a statement setting forth the actual Real Property Taxes and insurance expenses allocable to the Premises together with the basis used by Landlord for computing same. If such actual expenses exceed Tenant's payments hereunder, Tenant shall pay the deficiency to Landlord within thirty (30) days after receipt of such statement. If payments made by Tenant for such year exceed such actual expenses, Landlord shall pay such excess to Tenant upon Landlord's delivery of such statement. However, if Tenant is in default hereunder, Landlord shall be permitted to offset an amount equal to the excess against any payments due or damages caused by such default.
