Rent Escrow definition
Examples of Rent Escrow in a sentence
Rent Escrow is a legal process that requires you to file a Complaint for Rent Escrow in the District Court in the county in which you live.
Unless the Landlord waives the escrow requirement because of the Tenant’s financial hardship, the Tenant’s failure to make a payment to the Rent Escrow Account will terminate the Grievance Procedure.
The Tenant must continue to pay the amount of monthly rent due to the Rent Escrow Account until the Tenant’s complaint is resolved.
Before beginning the Grievance Procedure for any grievance involving the amount of rent due, the Tenant must pay the amount of rent due to a rent escrow account ("Rent Escrow Account").
If default shall be made in the due and punctual payment of Base Rent, Variable Rent, Escrow Deposits, or any payment of Additional Rent required to be made by Tenant under the terms of this Lease Agreement, and such default shall continue for a period of five (5) business days after Tenant's receipt of written notice from Landlord specifying such default.
Tenant further agrees that if Tenant pursues action in District Court for Rent Escrow prior to giving Agent proper notice of defects and sufficient time to remedy defects per Code, Tenant will be charged One Hundred Dollars ($100.00) per hour for any court time and time associated with preparation for court by Agent plus any miscellaneous charges including, but not limited to parking, copies, etc.
In making any payment relating to the Ground Rent Escrow Fund, Lender may do so according to any ▇▇▇▇, statement or estimate procured from the landlord under the applicable Ground Lease, without inquiry into the accuracy of such ▇▇▇▇, statement or estimate or into the validity of any claim by such landlord.
Provided that no Event of Default has occurred and is continuing, on each Payment Date set forth on Exhibit G, attached hereto and made a part hereof, Lender shall transfer a sum equal to the amount specified on Exhibit G to the Central Account from the Underwritten Rent Escrow Account.
All sums deposited into the Operation and Maintenance Expense Escrow Account, the Curtailment Reserve Escrow Account, the Recurring Replacement Reserve Escrow Account, the Debt Service Reserve Escrow Account, the Reletting Reserve Escrow Account, the Underwritten Rent Escrow Account and the Engineering Escrow Account shall be held in an interest bearing account but Borrower acknowledges that Lender makes no representation or warranty as to the rate of return.
Should an Event of Default occur, sums on deposit in the Underwritten Rent Escrow Account may be applied by Lender to the payment of the Debt or any other charges affecting all or any portion of the Property, as Lender in its sole discretion may determine; provided, however, that no such application shall be deemed to have been made by operation of law or otherwise until actually made by Lender as herein provided.