Escrow Balances definition

Escrow Balances means amounts held in custody by Seller for insurance and/or taxes for, or otherwise related to, the Deposit-Related Loans and the Other Loans.

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Escrow Balances means collected funds in non-interest bearing accounts maintained by Company with Bank net of any reserve requirement imposed from time to time by the Board of Governors of the Federal Reserve Board ("FRB"), which funds represent escrow moneys arising in connection with Company's mortgage servicing business. For purposes of this Agreement, reserve requirements shall be determined on the amount of collected deposits held each day by Bank in each type of escrow deposit account maintained by Company with Bank at the applicable rate imposed by the FRB. Bank shall not be obligated to lend to Company under the Note on any Borrowing Date an amount which exceeds the Availability Amount as set forth in the forecast delivered to Bank by Company on such date. Bank and Company will consult from time to time with a view toward allowing Company to maintain its deposit balances at Bank in types of deposit accounts bearing the lowest legally permissible reserve requirements practicable consistent with the flexibility required by the Company to make frequent withdrawals and deposits. In addition, Bank shall not be obligated to lend under the Note unless Company shall have first filed with Bank a Request for Draw and Certificate of Compliance (as of the date of the borrowing) in form similar to that annexed hereto as Exhibit "B", executed by an authorized officer of Company. Bank may, at its option, lend under the Note upon the telephone request of an authorized officer of Company and, in the event Bank makes any such advance upon a telephone request, the requesting officer shall immediately fax and then promptly mail to Bank, an executed Request for Draw and Certificate of Compliance in the form attached as Exhibit "B". Advances upon telephone request are for the convenience of Company and Bank shall have no liability to Company in connection with making any advance based upon the telephone

Escrow Balances means the escrows of borrowers with respect to the Transferred Loans including taxes, insurance and other items.

Examples of Escrow Balances in a sentence

• Further, Borrower Parties acknowledge and agree that Lender will continue to hold the Escrow Balances for the benefit of New Borrower in accordance with the terms of the Loan Documents.

• The Company shall adjust its records to reflect the Adjusted Cut-Off Date Unpaid Principal Balances, the Adjusted Escrow Balances and the Unpaid Principal Balances with respect to the Loans.

• The Company shall adjust its records to reflect the Adjusted Unpaid Principal Balances and the Adjusted Escrow Balances with respect to the Loans.

• The Company will adjust its records to reflect the Adjusted Unpaid Principal Balances, the Adjusted Escrow Balances and the Unpaid Principal Balances with respect to the Assets.

• Further, Borrower Parties acknowledge and agree that ▇▇▇▇▇▇ will continue to hold the Escrow Balances for the benefit of New Borrower in accordance with the terms of the Loan Documents.

• Original Borrower represents, and New Borrower acknowledges that as of the date hereof, the outstanding principal balance of the Loan is $22,640,000.00 and the following escrow and reserve balances (collectively, "Escrow Balances") are being held by Lender: (i) a tax escrow balance of $-0-; (ii) an insurance escrow balance of $-0-; (iii) a replacement reserve escrow balance of $-0-; and (iv) a reserve escrow balance of $-0-.

• As of January 11, 2013, the outstanding principal balance of the Loan was $19,716,932.89 and the following escrow and reserve balances (collectively, "Escrow Balances") are being held by Lender: (a) a tax escrow balance of $153,930.15; (b) an insurance escrow balance of $55,717.10; (c) a capital reserve balance of $9,531.91; (d) a tenant reserve balance of $190,063.82; and (d) a deferred maintenance reserve of $37.44.

• The Company shall adjust its records to reflect the Adjusted Unpaid Principal Balances, the Adjusted Escrow Balances and the Unpaid Principal Balances with respect to the Assets.

• No later than ten (10) Business Days after the Servicing Transfer Date, Seller shall deliver to Purchaser or its designee copies of all cut-off or accounting reports relating to the Assets as of the Servicing Transfer Date, including a trial balance and reports of collections, delinquencies, prepayments, curtailments, Escrow Payments, Escrow Balances, partial payments, partial payment balances and other like information on the Assets.

• On the Closing Date, Seller shall cause all Escrow Balances, if any, provided in connection with a proposed contract of sale for any REO Properties to be transferred to Purchaser.

More Definitions of Escrow Balances

Escrow Balances means amounts held in custody by Seller for insurance and taxes for or otherwise related to, the Deposit-Related Loans and the Other Loans.