Condominium Charges definition

Condominium Charges means Common Charges, special assessments and other assessments charged to, or otherwise payable by, Borrower under the Condominium Documents.

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Condominium Charges shall have the meaning set forth in the Mortgage Loan Agreement.

Condominium Charges means all common charges, special assessments, operating costs and other amounts imposed on the Project and/or Borrower pursuant to the Condominium Documents.

Examples of Condominium Charges in a sentence

Notwithstanding anything contained herein to the contrary, nothing contained herein or otherwise shall render Lender liable for any Condominium Charges.
If the amount of the Condominium Funds shall exceed the amounts due for Condominium Charges, Lender shall return any excess to Borrower or credit such excess against future monthly payments of Condominium Funds to be made.
Provided no Event of Default shall exist and remain uncured, Lender shall apply Condominium Funds in the Condominium Account to the timely payment of Condominium Charges.
If Borrower delivers to Lender a Letter of Credit in lieu of depositing cash into the Condominium Account, Borrower shall be responsible for paying directly all Condominium Charges subject to and in accordance with this Agreement.
Provided no Event of Default has occurred, Lender and Borrower acknowledge and agree that amounts to pay the monthly budgeted Condominium Charges to the extent set forth in the Approved Annual Budget shall be deemed Operating Expenses and disbursed pursuant to Section 6.10.1(viii) of the Loan Agreement.
Such deposit may be increased by Lender in the amount Lender deems is necessary in its reasonable discretion based on any increases in the Condominium Charges.
During any Cash Management Period, Borrower shall be required to deposit with Administrative Agent on each Payment Date one-twelfth of the amount sufficient to discharge the obligations under Section 9.29 (considered on an annual basis) when they become due (the “Monthly Condominium Charges Deposit”).
If Borrower fails to provide evidence reasonably satisfactory to Lender that the Condominium Charges have been paid in accordance with and subject to the terms of this Agreement, Lender shall have the right without prior notice to Borrower to draw on the Letter of Credit in an amount sufficient to pay the Condominium Charges then due.
If the amount of the Condominium Reserve Funds shall exceed the amounts due for Condominium Charges, Lender shall, in its sole discretion, either (a) return any excess to Borrower or (b) credit such excess against future payments to be made to the Condominium Reserve Funds.
In accordance with the time periods set forth in Section 3.1, if an Event of Default shall have occurred and be continuing, if required under Section 3.1, Borrower shall deposit into the Condominium Charges Reserve Account an amount equal to the amount of Condominium Charges that will be payable under the Condominium Documents for the next calendar month after the relevant Payment Date (such amounts so deposited shall hereinafter be referred to as the “Condominium Reserve Funds”).

More Definitions of Condominium Charges

Condominium Charges means all of the common charges or other amounts payable by the applicable Borrower as a unit owner under the Condominium Documents.

Condominium Charges shall have the meaning set forth in Section 5.1.24.

Condominium Charges means any and all common charges and assessments under the Condominium Documents (including without limitation, regular and special assessments) and any other amounts due under the Condominium Documents, together with any and all interest and penalties thereon, now or hereafter levied or assessed or imposed against Seller, the Condominium units, the applicable Property or any part thereof.

Condominium Charges all amounts, costs and charges payable by the owner of any unit to the condominium association established pursuant to the Condominium Documents.

Condominium Charges means all common charges, special assessments, operating costs and other amounts imposed on the Project and/or Borrower pursuant to the Condominium Documents. “Condominium Charges Reserve Account” means a sub-account of the Cash Management Account maintained on a ledger-entry basis. “Condominium Declaration” shall mean that certain Amended and Restated Declaration of Beacon Court Condominium made under the Condominium Act dated as of February 8, 2005, and recorded on March 9, 2005 in the Office of the City Register of The City of New York, County of New York, in CRFN 2005 0000139245 as the same may hereafter from time to time be modified, amended, restated, replaced or supplemented. 12

Condominium Charges shall have the meaning set forth in Section 9.11(a) hereof.