Common use of The Initial Deposits Clause in Contracts

The Initial Deposits. No initial deposit amounts shall be required to be deposited in each of the Tax Account, the Insurance Premium Account, the Replacement Reserve Account or, the Ground Rent Account except that an amount equal to 125% of immediate repairs to the Improvements shall be required to be deposited in the Required Repair Account, (the “Initial Deposits”) on the Closing Date, which amount shall be disbursed as provided in Section 7.1.2 hereof.

The Initial Deposits. No initial deposit amounts shall be required to be deposited in each of the Tax Account, Account or the Insurance Premium Account, the Replacement Reserve Account or, the Ground Rent Account except that an amount equal to 125% of immediate required repairs to in connection with the Improvements Properties shall be required to be deposited in the Required Repair Account, Account (the “Initial Deposits”) on the Closing Date, which amount shall be disbursed as provided in Section 7.1.2 hereof.