Ground Rent Reserve Account definition

Ground Rent Reserve Account shall have the meaning set forth in Section 7.4 hereof.
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Ground Rent Reserve Account shall have the meaning provided in Section 3.1.1.
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Ground Rent Reserve Account has the meaning set forth in Section 5.2 of --------------------------- the Cash Management Procedures.
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Examples of Ground Rent Reserve Account in a sentence

  • In making any payment relating to the Ground Rent Reserve Account, Lender may do so according to any xxxx, statement or estimate procured from the Fee Owner, without inquiry into the accuracy of such xxxx, statement or estimate or into the validity thereof.

  • If the amount of funds in the Ground Rent Reserve Account shall exceed the amounts due as Ground Rent pursuant to the Ground Lease, Lender shall credit such excess against future payments to be made to the Ground Rent Reserve Account.

  • Promptly following any written request from Lender, Borrower shall deliver to Lender written evidence reasonably acceptable to Lender regarding (y) the amounts to be deposited in the CIGNA Property Ground Rent Reserve Account and (z) any Manager Ground Rent Escrows.

  • In the event that Borrower shall cure the Event of Default which gave rise to Borrower’s obligation to pay the Ground Rent Reserve Funds in respect of Monthly-Basis Ground Rent, Lender shall, upon receipt of the written request of Borrower, return to Borrower the portion of the Ground Rent Reserve Funds on deposit in the Ground Rent Reserve Account that are allocable to such Monthly-Basis Ground Rent.

  • In making any payment from the Ground Rent Reserve Account, Lender may do so according to any xxxx, statement or estimate procured from the applicable Ground Lessor, without inquiry into the accuracy of such xxxx, statement or estimate.

  • If the amount on deposit in the Ground Rent Reserve Account shall exceed the aggregate amount of Ground Rent due under the applicable Ground Leases, Lender shall, in its sole discretion, return any excess to Borrower or credit such excess against future payments required to be made by Borrower to the Ground Rent Reserve Account pursuant to the provisions of Section 7.6.1 hereof.

  • Provided no Event of Default is then continuing, Lender shall apply any Ground Rent Reserve Funds on deposit in the Ground Rent Reserve Account to payments of Ground Rent due under the applicable Ground Leases on or prior to the date such payments are due and, upon written request, shall provide Borrower evidence of such payment.

  • The spaces will remain available to everyone to accommodate the demand in the local area, especially for the Mosque.

  • Notwithstanding anything in this Agreement to the contrary, Borrower shall not be in default under the Loan for failure to pay Ground Rent if and to the extent there are sufficient funds on deposit in the Ground Rent Reserve Account to timely pay Ground Rent.

  • Borrower Parties shall not be permitted to make any withdrawals from the Ground Rent Reserve Account without the prior consent of Agent.


More Definitions of Ground Rent Reserve Account

Ground Rent Reserve Account shall have the meaning set forth in Section 7.4.1 of the Original Loan Agreement. As of the date hereof, the Ground Rent Reserve Account is being closed, and notwithstanding any requirement to the contrary in any other Loan Document, there shall be no further obligation to deposit funds in the Ground Rent Reserve Account.
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Ground Rent Reserve Account shall have the meaning set forth in the Closing Date Mortgage Loan Agreement.
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Ground Rent Reserve Account has the meaning set forth in Section 2.11(e)(i) hereof.
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Ground Rent Reserve Account is defined in Section 9.3(a) hereof.
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Ground Rent Reserve Account shall have the meaning set forth in Section 9.2 hereof.
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Ground Rent Reserve Account has the meaning assigned to such term in the Cash Management Agreement.
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Related to Ground Rent Reserve Account

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

  • 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 [*];

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

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

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

  • Replacement Reserve Fund 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.

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

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

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.

  • 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.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Rent Reserve means, with respect to any leased store, warehouse distribution center, regional distribution center or depot where any Inventory subject to Liens arising by operation of law is located, a reserve equal to two months’ rent at such store, warehouse distribution center, regional distribution center or depot.

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

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

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Initial Reserve Account Deposit means $3,000,000.

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

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • 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.

  • Initial Reserve Account Deposit Amount means an amount equal to $29,411,740.05.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $3,807,950.53.

  • 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.

  • 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.

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.