PIP Reserve Funds definition

PIP Reserve Funds shall have the meaning specified in Section 9.9 hereof.
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PIP Reserve Funds shall have the meaning set forth in the Mortgage Loan Agreement.
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PIP Reserve Funds shall have the meaning set forth in Section 6.6.1.
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Examples of PIP Reserve Funds in a sentence

  • The aggregate amount of PIP Reserve Funds and the notional amount of any such Letter of Credit delivered for any PIP Reserve Deposits shall not exceed the remaining cost of any PIP as reasonably determined by Lender, and any such excess shall be promptly released to Borrower or, in the case of a Letter of Credit, the amount thereof shall be reduced.

  • Commissioner Anderson – I don’t know how you would put the berm on top of the rock wall.

  • If such security is in the form of a Letter of Credit or other non-cash security permitted under Section 4.12.2, then, in lieu of disbursements from the Scheduled PIP Reserve Account, Mortgage Lender shall grant approved reductions in the amount of such Letter of Credit or other security upon satisfaction of the same conditions that are applicable to disbursements of Scheduled PIP Reserve Funds from the Scheduled PIP Reserve Account in accordance with Section 6.5.2 of the Mortgage Loan Agreement.

  • Any additional security required to be posted by Borrower pursuant to this paragraph (ii) shall be posted pursuant to paragraph (iv) below in an amount equal to the total New/Renewal Flagging Costs for such Individual Property, less any Future PIP Reserve Funds dedicated by Borrower to such New/Renewal Flagging Costs, and less any PIP Dedicated FF&E Reserve Funds dedicated by Borrower to such New/Renewal Flagging Costs.

  • Lender may from time to time reassess its estimate of the amount necessary for Initial PIP Work, and may require Borrower to increase the Initial PIP Reserve Funds by making one or more additional deposits thereto upon thirty (30) days’ notice to Borrower if Lender determines in its reasonable discretion that an increase is necessary to timely complete the Initial PIP Work in accordance with the terms and conditions hereof and of the Franchise Agreement.

  • Notwithstanding the foregoing, Future PIP Reserve Funds shall not be disbursed to cover any New/Renewal Flagging Costs for which PIP Dedicated FF&E Reserve Funds have been dedicated in accordance with Section 4.34(e) (it being agreed that the payment of such New/Renewal Flagging Costs shall be funded from the FF&E Reserve Account in accordance with Section 6.8.2).

  • Mart 9 UBSRES DoubleTree Overland Park NAP Current PIP Reserve Funds 5,634,893 0 0 LoC JPMorgan Chase Bank, N.A. Seasonality Reserve Funds 159,000 53,000 24 UBSRES Shellmound Office Building NAP Free Rent Reserve Fund 843,300 0 0 Cash NAP NAP 0 0 25 UBSRES Xxxxx Fashion Center NAP Ground Rent Funds 64,973 Borrower shall deposit with Lender an amount equal to the Ground Rent that will be payable under the Ground Lease for the month immediately following the month in which such Monthly Payment Date occurs.

  • Lender shall not be required to disburse Initial PIP Reserve Funds more frequently than once each calendar month, and each disbursement of Initial PIP Reserve Funds must be in an amount not less than the Minimum Disbursement Amount (or a lesser amount if the total amount of Initial PIP Reserve Funds is less than the Minimum Disbursement Amount, in which case only one disbursement of the amount remaining in the account shall be made).

  • Any additional security required to be posted by Owner pursuant to this paragraph (ii) shall be posted pursuant to paragraph (iv) below in an amount equal to the total New/Renewal Flagging Costs for such Individual Property, less any Future PIP Reserve Funds dedicated by Owner to such New/Renewal Flagging Costs, and less any PIP Dedicated FF&E Reserve Funds dedicated by Borrower to such New/Renewal Flagging Costs.

  • Lender shall not be required to disburse Future PIP Reserve Funds more frequently than once each calendar month.


More Definitions of PIP Reserve Funds

PIP Reserve Funds has the meaning specified in Section 5.01(bb)(v).
Sample 1
PIP Reserve Funds. Notwithstanding the foregoing, Borrower shall not be required to make Replacement Reserve Monthly Deposits pursuant to Section 9.3(e) or this Section 8.1 for so long as (i) Marriott is the Manager, (ii) Manager is maintaining reserves for Replacements pursuant to the terms of the Management Agreement and (iii) the amount being reserved by Manager for Replacements on a monthly basis is at least equal to the Replacement Reserve Monthly Deposit; provided, however, that nothing in this sentence shall affect Borrower’s obligation to make the Monthly PIP Reserve Deposit.
Sample 1
PIP Reserve Funds shall have the meaning set forth in Section 4.5 hereof. “PIP Work” shall mean the work to be completed pursuant to the PIP Approved Plans. “Pledge Agreement” shall mean, individually and/or collectively, as the context may require, the HoldCo Pledge Agreement and the MezzCo Pledge Agreement, as the same may hereafter be amended, supplemented or otherwise modified. Any references in this Agreement to
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Related to PIP Reserve Funds

  • Reserve Funds means the Tax and Insurance Funds, the Replacement Reserve Funds, the Immediate Repair Funds, the Excess Cash Flow Funds, the Operating Expense Funds and any other escrow funds established by this Agreement or the other Loan Documents.

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

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.

  • 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).

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

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.