Imposition Deposits definition

Imposition Deposits are defined in Section 7(a).

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Imposition Deposits means deposits in an amount sufficient to accumulate with Lender the entire sum required to pay the Impositions when due.

Imposition Deposits. “Impositions,” “Leases,” “Rents” and “Restoration,” as well as any term used in this Agreement and not otherwise defined in this Agreement, will have the meanings given to those terms in the Senior Loan Agreement.

Examples of Imposition Deposits in a sentence

• Lender shall apply the Imposition Deposits to pay Impositions so long as no Event of Default has occurred and is continuing.

• Lender shall not be obligated to open additional accounts or deposit Imposition Deposits in additional institutions when the amount of the Imposition Deposits exceeds the maximum amount of the federal deposit insurance or guaranty.

• Unless applicable law requires, Lender shall not be required to pay Borrower any interest, earnings or profits on the Imposition Deposits.

• If an Event of Default exists, Lender may exercise any rights Lender may have with respect to Imposition Deposits without regard to whether Impositions are then due and payable.

• Lender shall have no obligation to pay any Imposition to the extent it exceeds Imposition Deposits then held by Lender.

More Definitions of Imposition Deposits

Imposition Deposits has the meaning set forth in the Security Instrument.

Imposition Deposits have the meanings given to those terms in Section 4.

Imposition Deposits shall have the meaning as defined in Section 7(a) of the Instrument.

Imposition Deposits mean the Impositions and Imposition Deposits defined in the Security Instrument.

Imposition Deposits shall have the meaning as defined in Section 7(a) of the Security Instrument.

Imposition Deposits are defined in Section 7(a). (k) "Improvements" means the buildings, structures, improvements, and alterations now constructed or at any time in the future constructed or placed upon the Land, including any future replacements and additions.

Imposition Deposits as additional security for all of Borrower's obligations under this Instrument and the other Loan Documents. Any amounts deposited with Lender under this Section 7 shall not be trust funds, nor shall they operate to reduce the Indebtedness, unless applied by Lender for that purpose under Section 7(e).