Insurance Funds definition

Insurance Funds has the meaning set forth in Section 6.2.1.

Insurance Funds shall have the meaning set forth in Section 6.3.1.

Insurance Funds. The Insurance Funds shall be held in the Insurance Escrow Subaccount (as defined in the Cash Management Agreement), which shall be an Interest Bearing Account. If at any time Agent reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Agent shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Agent reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. Notwithstanding the foregoing, provided no Event of Default is continuing, Agent agrees that upon delivery to Agent by Borrower of evidence satisfactory to Agent that the Policies of insurance required to be maintained by Borrower pursuant to Section 5.1.1 are maintained pursuant to blanket insurance Policies covering the Property and other properties and which blanket insurance Policies otherwise comply with the requirements of Section 5.1.1 and the Insurance Premiums payable in connection therewith have been prepaid for not less than one year in advance (or, for the period of coverage under the Policies as to which certificates are delivered at closing, such period, if less than one year), then Borrower’s obligation to make monthly deposits of the Insurance Funds pursuant to this Section 6.3.1 shall be suspended. Upon request of Agent, Borrower shall provide evidence satisfactory to Agent that the Insurance Premiums payable in connection with such blanket insurance Policies are paid as soon as appropriate evidence is reasonably available. 95

Examples of Insurance Funds in a sentence

• If the amount of the Insurance Funds shall exceed the amounts due for Insurance Premiums, Lender shall, in its sole discretion, return any excess to Borrower or credit such excess against future payments to be made to the Insurance Funds.

• If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies.

• If to TRUST: BT Insurance Funds Trust c/o First Data Investor Services Group, Inc.

• Any Insurance Funds remaining in the Insurance Account after the Obligations have been paid in full shall be returned to Borrower.

• Each other notice or communication required or permitted by this Agreement will be given to the following persons at the following addresses and facsimile numbers, or such other persons, addresses or facsimile numbers as the Party receiving such notices or communications may subsequently direct in writing: AIM Variable Insurance Funds, Inc.

More Definitions of Insurance Funds

Insurance Funds. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies.

Insurance Funds shall have the meaning set forth in the Mortgage Loan Agreement.

Insurance Funds. 6.4.1 “Insurance Premiums” - 5.1.1(b) “Insurance Proceeds” - 5.4(b) “Intellectual Property” - 3.1.33 “Interest Period” - 2.3.2 “Lease Sweep Account” - 6.13.1 “Lease Sweep Funds” - 6.13.1

Insurance Funds shall have the meaning set forth in Section 3.2.1.

Insurance Funds. Mortgage Loan Agreement

Insurance Funds. The Account in which the Insurance Funds are held shall hereinafter be referred to as the “Insurance Reserve Account.” If at any time, Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. In addition to the foregoing, if Borrower fails to renew the policy or policies described in Section 5.1 hereof by the date which is five (5) business days prior to the expiration thereof, Borrower agrees to notify Lender of such failure, and to keep Lender reasonably apprised of all developments in connection therewith, and if, following such notice, Lender reasonably believes that Borrower will be unable to bind the policy or policies described in Section 5.1 prior to the expiration thereof, then Lender shall have the right, without notice to Borrower, to take such action as Lender deems necessary to protect its interest in the Property, including, without limitation, the obtaining of such insurance coverage as Lender in its reasonable discretion deems appropriate. All premiums incurred by Lender in connection with such action or in obtaining such insurance and keeping it in effect shall be paid by Borrower to Lender upon demand and, until paid, shall be secured by the Mortgage and shall bear interest at the Default Rate.

Insurance Funds shall have the meaning set forth in Section 6.3.1. "Insurance Premiums" shall have the meaning set forth in Section 5.1. l(b). "Interest Rate" shall mean a rate per annum equal to 5.30%.