Rent Reserve Account definition

Rent Reserve Account has the meaning set forth in Section 7.3.
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Rent Reserve Account as defined in Section 2.1(b)(iii).
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Rent Reserve Account shall have the meaning specified in Section 2.2 of the Depositary Agreement.
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Examples of Rent Reserve Account in a sentence

  • In making any payment relating to the Ground Rent Reserve Account, Lender may do so according to any xxxx, statement or estimate procured from the Fee Owner, without inquiry into the accuracy of such xxxx, statement or estimate or into the validity thereof.

  • If the amount of funds in the Ground Rent Reserve Account shall exceed the amounts due as Ground Rent pursuant to the Ground Lease, Lender shall credit such excess against future payments to be made to the Ground Rent Reserve Account.

  • The Borrower shall prepay in whole all Loans outstanding immediately prior to making any payment of Rent, other than any payment of Rent made solely with amounts drawn under Rent Reserve Account Payment Undertaking Agreements, and shall not borrow hereunder on the date on which any payment of Rent shall be made.

  • Such Annual Operating Budget shall include Pro Forma projections and projections indicating updated projected Coverage Ratios (taking the Independent Forecast into account) and shall indicate projected changes, if any, in the Rent Reserve Account and the Additional Liquidity Account.

  • Promptly following any written request from Lender, Borrower shall deliver to Lender written evidence reasonably acceptable to Lender regarding (y) the amounts to be deposited in the CIGNA Property Ground Rent Reserve Account and (z) any Manager Ground Rent Escrows.

  • During the continuance of any Low LCR Cash Sweep Period or Event of Default, Lender shall pay or direct the Cash Management Bank to pay from the Master Lease Variable Additional Rent Reserve Account, monthly payments of Master Lease Variable Additional Rent directly to the Person having the right to receive such funds on the respective due dates therefor and shall promptly notify Borrower and Master Lessee of any such payment.

  • In the event that Borrower shall cure the Event of Default which gave rise to Borrower’s obligation to pay the Ground Rent Reserve Funds in respect of Monthly-Basis Ground Rent, Lender shall, upon receipt of the written request of Borrower, return to Borrower the portion of the Ground Rent Reserve Funds on deposit in the Ground Rent Reserve Account that are allocable to such Monthly-Basis Ground Rent.

  • Each of the Accounts shall have been established in accordance with the Depositary Agreement and an amount equal to the Capex Account (Debt) Deposit, the Senior Rent Reserve Requirement and the Junior Rent Reserve Requirement, as applicable, shall have been deposited in the Capex Account (Debt), the Senior Rent Reserve Account and the Junior Rent Reserve Account, as applicable.

  • If the amount on deposit in the Ground Rent Reserve Account shall exceed the aggregate amount of Ground Rent due under the applicable Ground Leases, Lender shall, in its sole discretion, return any excess to Borrower or credit such excess against future payments required to be made by Borrower to the Ground Rent Reserve Account pursuant to the provisions of Section 7.6.1 hereof.

  • Provided no Event of Default exists and is continuing, commencing on the First Payment Date and continuing on each Payment Date thereafter until the amounts on deposit in the Rent Reserve Account have been fully expended, Lender shall release a ratable share over the period of time for which such amounts have been reserved (as described in Schedule V) into the Cash Management Account to be applied in accordance with the terms and provisions of the Cash Management Agreement.


More Definitions of Rent Reserve Account

Rent Reserve Account shall have the meaning provided in Section 6.1.1(c).
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Rent Reserve Account the special account designated by that name established by the Security Agent pursuant to subsection 2.2 of the Security Deposit Agreement.
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Rent Reserve Account means the “Rent Reserve Account” established by the Depositary pursuant to the Depository Agreement.
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Rent Reserve Account means, collectively, one or more interest-bearing accounts to be established and maintained by Borrower at the offices of Lender located at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx, each in the name of "Bankers Trust Company -- FCOLP Rent Reserve Account," with such additional identifying references in such name as Borrower and Lender shall agree.
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Related to Rent Reserve Account

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

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

  • 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 [*];

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

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

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

  • Rent Reserve means, with respect to any leased store, warehouse distribution center, regional distribution center or depot where any Inventory subject to Liens arising by operation of law is located, a reserve equal to two months’ rent at such store, warehouse distribution center, regional distribution center or depot.

  • 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.

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

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

  • 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.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $3,807,950.53.

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

  • Initial Reserve Account Deposit means $3,000,000.

  • Debt Service Reserve Account shall have the meaning assigned to such term in the Depositary Agreement.

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

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

  • Initial Reserve Account Deposit Amount means an amount equal to $29,411,740.05.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Available Reserve Account Amount means, with respect to any Transfer Date, the lesser of (a) the amount on deposit in the Reserve Account on such date (after taking into account any interest and earnings retained in the Reserve Account pursuant to subsection 4.15(b) on such date, but before giving effect to any deposit made or to be made pursuant to subsection 4.11(i) to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Securities Administrator pursuant to Sections 3.07(b) and 3.07(c) in the name of the Securities Administrator for the benefit of the Regular Certificateholders and designated "Wells Fargo Bank, National Association in trust for registered Holders xx Xxrgan Stanley Capital I Inc. Trust 2006-HE2, Mortgage Pass-Through Cerxxxxxxtxx, Xxxies 2006-HE2." 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.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2022-2) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.