Expense Reserve Fund definition

Expense Reserve Fund means the fund established pursuant to Section 4.03.
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Expense Reserve Fund. The Eligible Account required to be established by the Master Servicer pursuant to Section 3.27(b) on behalf of the Trustee and Certificateholders and into which account the Master Servicer shall deposit, on a monthly basis, the Servicer Reserve Amount payable under the Mortgage Loan documents, which account may be used for payment of expenses of the Trust Fund, the Master Servicer and the Special Servicer as set forth herein which are expressly identified as expenses of the Trust Fund herein and for such other purposes as set forth in this Agreement.
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Expense Reserve Fund. The trust account or accounts created and maintained pursuant to Section 4.01 for payment of certain expenses.
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Examples of Expense Reserve Fund in a sentence

  • To the extent that there are sufficient funds in the Expense Reserve Fund, the Shareholders’ portion of such fees and expenses will be paid therefrom.

  • Lender shall make disbursements from the Operating Expense Reserve Fund (each, an “Operating Expense Advance”) pursuant to, and in accordance with, the terms of this Section 5.3 not more than once in each calendar month upon simultaneous submission to Lender at least ten (10) days prior to the date on which Borrower desires a disbursement of an Operating Expense Advance, of a written requisition (a “Operating Expense Requisition”) on such form or forms as may be reasonably required by Lender.

  • At {3:11} the Budget Committee discussed the PERS increase that will take place in two years and the possible repercussions of depleting the PERS fund.At {3:28} Gold motioned to approve the P.E.R.S. Expense Reserve Fund as presented.

  • At {1:57} the Committee calculated risks by looking at the year-to-date paid unemployment and forecasting for the rest of the year.At {2:00} Boice motioned to approve the Unemployment Expense Reserve Fund with a transfer of $127k from the fund into the Non Departmental General Fund.

  • The cost to correct and xxxxx any such problems shall be funded from the Operating Expense Reserve Fund, but shall not be included as an expense in connection with the Performance Test unless the cause of such problems was Manager’s Gross Negligence or Willful Misconduct.

  • Professionals who timely tender such invoices shall be paid by the Plan Administrator for such services from the Plan Expense Reserve Fund not less than fifteen (15) days after the submission of said monthly invoices, unless, within said fifteen (15) day period, a written objection to such payment is made by the Plan Administrator, the Post-Effective Date Committee, or counsel to the Debtors.

  • Earnings on each fund established hereunder shall be transferred to the Expense Reserve Fund, and such earnings shall not reduce the obligation of the Company to pay the amounts specified in the Securities.

  • The Trustee may apply moneys in the Expense Reserve Fund to any amounts owed to it hereunder, including without limitation under Section 7.07.

  • The Representative may elect, upon providing written notice to Purchaser, to be reimbursed for or pay such reasonable expenses out of the 55 Expense Reserve Fund (to the extent that there are sufficient funds therein).

  • If the Operating Expense Reserve Fund is not sufficient to satisfy the unbudgeted Emergency Expenses, then such expenditures shall be satisfied from the Surplus Revenue Fund, and if any insufficiency then remains, from the Subordinate FF&E Reserve Fund and then from the Senior FF&E Reserve Fund.


More Definitions of Expense Reserve Fund

Expense Reserve Fund means $300,000.
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Expense Reserve Fund means a reserve to be established by the Debtors on the Effective Date in the amount of $1,000,000 to fund the expenses of the Liquidating Trust, and to be utilized by the Liquidating Trustee to effectuate the liquidation of the remaining Property hereunder, including, without limitation, to pay for costs of administering the Liquidating Trust, including payments to its professionals, as well as to fund any necessary or appropriate litigation against third parties, in accordance with the Plan and/or the Liquidating Trust Agreement. The Expense Reserve Fund may be replenished from time to time by the Liquidating Trustee as set forth in the Liquidating Trust Agreement.
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Expense Reserve Fund. A fund created as part of the Trust Fund pursuant to Section 4.04 of this Agreement but which is not an asset of the REMIC.
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Related to Expense Reserve Fund

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Carryover Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 4.08 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered holders of CWABS, Inc., Asset-Backed Certificates, Series 2001-3". Funds in the Carryover Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.

  • Debt Service Reserve Account shall have the meaning assigned to such term in the Depositary Agreement.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

  • Interest Reserve Account As defined in Section 3.4(d).

  • Excess Liquidation Proceeds Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Securities Administrator pursuant to Sections 3.07(b) and 3.07(c) in the name of the Securities Administrator for the benefit of the Regular Certificateholders and designated "Wells Fargo Bank, National Association in trust for registered Holders xx Xxrgan Stanley Capital I Inc. Trust 2006-HE2, Mortgage Pass-Through Cerxxxxxxtxx, Xxxies 2006-HE2." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Reserve Funds means the Tax and Insurance Reserve Funds, the FF&E Reserve Funds, the Required Repair Funds, the PIP Reserve Funds, the Excess Cash Reserve Funds or any other escrow funds established by the Loan Documents.

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Interest Reserve Amount has the meaning set forth in Section 5.1(d).

  • Expense Account has the meaning given to such term in Section 3.01(a) hereof.

  • Basis Risk Reserve Fund A fund created as part of the Trust Fund pursuant to Section 5.06 of this Agreement but which is not an asset of any of the REMICs.

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • Debt Service Reserve Fund Requirement means, with respect to the 2017 Series B Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2017 Series B Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Principal Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.08 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered Holders of CWABS, Inc., Asset-Backed Certificates, Series 2006-22". Funds in the Principal Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

  • Available Reserve Account Amount means, with respect to any Transfer Date, the lesser of (a) the amount on deposit in the Reserve Account on such date (after taking into account any interest and earnings retained in the Reserve Account pursuant to subsection 4.15(b) on such date, but before giving effect to any deposit made or to be made pursuant to subsection 4.11(i) to the Reserve Account on such date) and (b) the Required Reserve Account Amount.