Impound Amounts definition
Impound Amounts means, with respect to any Commercial Loan, the amounts held by Seller for payment of Taxes, mortgage insurance premiums and fire and hazard insurance premiums, insurance loss proceeds or any other amounts impounded or reserves held by Seller pursuant to the Mortgage or Collateral or any other Loan Document, together with any interest accrued on the funds so reserved or impounded.
Impound Amounts means, with respect to any Mortgage Loan, the amounts held by or on behalf of Seller for payment of Taxes, mortgage insurance premiums and fire and hazard insurance premiums, insurance loss and condemnation proceeds or any other amounts impounded, reserves held by or on behalf of Seller pursuant to the Mortgage or any other Mortgage Loan Document, together with any interest accrued thereon so reserved or impounded, and any amounts advanced by Seller with respect to the Mortgage Loans, which advances are ultimately reimbursable from the Mortgagor.
Examples of Impound Amounts in a sentence
Except as set forth on Schedule 2.5, there are no Related Escrow Accounts or Impound Amounts and Seller does not collect funds in connection with the Loans that would constitute Related Escrow Accounts.
Except as set forth on Schedule 2.5, there are no Impound Amounts related to the Transferred Loans.
Except as set forth on Schedule 2.5, there are no Related Escrow Accounts or Impound Amounts and Seller does not collect funds in connection with the Transferred Loans that would constitute Related Escrow Accounts.