Lease Funds definition
Examples of Lease Funds in a sentence
Lender shall have the right to apply the Ground Lease Funds to payment of rents and other charges due under any Ground Lease.
On or promptly after the Closing Date, the Lease Funds plus any interest that has accrued thereon shall be transferred into the Funding Obligation Deposit Account.
Upon such delivery to Lender of a Letter of Credit in the amount equal to the amount of NYC-DYCD Lease Funds or the Unfunded Obligations Funds, as applicable, held by Cash Management Bank in cash on the date of delivery of such Letter of Credit and provided that no Event of Default has occurred and is continuing, Lender shall promptly cause the Cash Management Bank to disburse any funds held by the Cash Management Bank in cash in the NYC-DYCD Lease Account or the Unfunded Obligations Account to Borrower.
If the amount of Ground Lease Reserve Funds shall exceed the amounts due for rents and other charges under the Ground Leases for the immediately succeeding twelve (12) months as determined by Lender, Lender shall, in its sole discretion, return any excess to Borrower or credit such excess against future payments to be made to the Ground Lease Funds.
Any Ground Lease Funds remaining after the Loan and all other obligations of Borrower to Lender under the Loan Documents have been paid in full shall be returned to Borrower.
Party A shall pay Party B the down payment of the Lease Funds of RMB 96,000,000.00 (in words: RMB ninety-six million) within 5 working days after the payment conditions agreed in this Contract are all satisfied; the remaining Lease Funds is RMB 379,000,000.00 (in words: RMB three hundred and seventy nine million), which shall be paid in full within 10 working days after the down payment of the Lease Funds and the payment of Party B’s security deposit are paid.
Both Parties shall, based on changes in specific circumstances, jointly confirm the adjustment plan of the mode and timing of the funds release, or confirm the suspension and termination of release of the Lease Funds, and guarantee that Parties will not raise any right claim in this condition.
The interest of the lease payments under this Contract is calculated from the Lease Commencement Date (delivery day of the Lease Funds).
Provided that no Event of Default has occurred and is continuing, the following SCGC Lease Funds on deposit in the SCGC Lease Account shall be deposited into the Deposit Account: (i) on September 6, 2016: $73,586.66, (ii) on October 6, 2016: $73,586.67 and (iii) on November 6, 2016: $73,586.67.
Party A shall pay Party B the down payment of the Lease Funds of RMB / within 5 working days after all the payment conditions agreed in this Contract are satisfied.