Mezzanine Debt Service Account definition

Mezzanine Debt Service Account. As defined in the Mortgage Loan Agreement
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Mezzanine Debt Service Account shall have the meaning set forth in Section 9.1(b) hereof.
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Mezzanine Debt Service Account shall have the meaning ascribed to such term in the Mezzanine Loan Documents.
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Examples of Mezzanine Debt Service Account in a sentence

  • Any cost and expenses due and payable to Lender may be paid from any amounts in the Mezzanine Debt Service Account.

  • Disbursements from the Mezzanine Debt Service Account will be made in accordance with the terms and conditions of the Mezzanine Cash Management Agreement.

  • Borrower shall not in any way alter or modify the Mezzanine Debt Service Account or the Mezzanine Cash Management Agreement without the prior written consent of Lender.

  • Prior to the occurrence and continuance of an Event of Default, funds on deposit in the Mezzanine Debt Service Account, if any, shall be used to pay Mezzanine Debt Service when due.

  • Disbursements from the Junior Mezzanine Debt Service Account will be made in accordance with this Agreement and the terms and conditions of the Junior Mezzanine Cash Management Agreement.

  • Borrower will not cause or permit Mortgage Borrower to in any way alter or modify the Senior Mezzanine Debt Service Account without the prior written consent of Lender, and Borrower will notify Lender of the account number of the Senior Mezzanine Debt Service Account.

  • Borrower hereby grants to Lender a first priority security interest in the Senior Mezzanine Debt Service Account and all deposits at any time contained therein and the proceeds thereof and will take all actions necessary to maintain in favor of Lender a perfected first priority security interest in the Senior Mezzanine Debt Service Account, including, without limitation, filing UCC-1 financing statements and continuations thereof upon Lender’s request therefor.

  • Any Net Liquidation Proceeds After Debt Service remaining after the repayment of the Debt in full shall be (A) if the Junior Mezzanine Loan is then outstanding, deposited into the Junior Mezzanine Debt Service Account for further distribution pursuant to the terms and conditions of the Cash Management Agreement, or (B) if the Junior Mezzanine Loan is not then outstanding, paid to Borrower.

  • Junior Lenders each hereby acknowledge and agree that notwithstanding the terms of Section 4(i) of the Reserve Agreement to the contrary, at such times as the Senior Loan is paid in full and provided that the Senior Junior Loan is still outstanding, any and all amounts remaining in the Mortgage Debt Service Account shall be deposited into the Senior Mezzanine Debt Service Account.

  • Lender shall have the right to withdraw funds from the Mezzanine Debt Service Account to pay the monthly Debt Service amount on or after the Payment Date such Debt Service is due, together with any late payment charges, interest accruing at the Default Rate, and other amounts then payable under the Loan, subject to Section 4.4 hereof.


More Definitions of Mezzanine Debt Service Account

Mezzanine Debt Service Account means a Mezzanine A Debt Service Account or a Mezzanine B Debt Service Account.
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Mezzanine Debt Service Account means, individually and collectively, as the context may require, the Senior Mezzanine Debt Service Account and the Junior Mezzanine Debt Service Account.
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Mezzanine Debt Service Account as defined in the Mezzanine Cash Collateral Agreement.
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Mezzanine Debt Service Account as defined in Section 2.1(b).
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Related to Mezzanine Debt Service Account

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

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

  • Debt Service Reserve means the reserve for payment of principal and interest on the Bonds, created and established by Sections 502 and 506 of the General Trust Indenture.

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

  • Debt Service Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

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

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

  • 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 [*];

  • Debt Service Reserve Fund Requirement means, with respect to the 2013 Series C Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2013 Series C Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank, National Trust Company in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2006-HE5, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2006-HE5." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • 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.

  • Note Account As defined in the Indenture.

  • Reserve Funds means, collectively, the Tax and Insurance Reserve Fund, the Replacement Reserve Fund, the Required Repair Fund, the Rollover Reserve Fund, the Ground Lease Reserve Fund, the Excess Cash Flow Reserve Fund and any other escrow fund established by the Loan Documents.

  • Reserve Account Funding Date means the Payment Date selected by the Servicer on behalf of the Issuer which occurs not later than the earliest of the Payment Date with respect to the Monthly Period which commences three months prior to the commencement of the Controlled Accumulation Period (which commencement shall be subject to postponement pursuant to Section 4.13); provided, however, that if the Rating Agency Condition is satisfied, the Issuer may postpone the Reserve Account Funding Date.

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

  • Debt Service Reduction Mortgage Loan Any Mortgage Loan that became the subject of a Debt Service Reduction.

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

  • 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.

  • Revenue Account means the Revenue Account established pursuant to the Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Debt Service means, with respect to any particular period of time, the scheduled principal and interest payments due under this Agreement and the Note.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

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