Rent Reserve Deposit definition

Rent Reserve Deposit has the meaning set forth in Section 2.5.
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Rent Reserve Deposit has the meaning set forth in Section 2.5. "Resident" means the lessee or tenant under Resident Agreement. "Resident Agreements" means all leases, rental agreements and other agreements (written or otherwise) that grant a possessory interest in and to any space within the Facility, other than the Tenant Leases, together with all Credit Enhancements, if any, held in connection therewith. "Request" has the meaning set forth in Section 9.3(a). "Security Agreement" means that certain Security Agreement of even date herewith executed by Lessee to Lessor, pursuant to the terms of which Lessee has granted to Lessor a first lien and security interest in and to all of the Personal Property, including but not limited to, fixed and movable equipment, including replacements and substitutions, as security for the obligations of Lessee under this Lease, and any and all other obligations of Lessee. "Substitution Date" has the meaning set forth in Section 20.1. "Substitute Properties" has the meaning set forth in Section 20.1. "Taking" means a taking or voluntary conveyance during the Term hereof of all or part of the Leased Property, or any interest therein or right accruing thereto or use thereof, as the result of, or in settlement of any Condemnation or other eminent domain proceeding affecting the Leased Property whether or not the same shall have actually been commenced.
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Examples of Rent Reserve Deposit in a sentence

  • Lessor may, from time to time, without prejudice to any other remedy apply or appropriate funds from the Rent Reserve Deposit to make good any arrearage of Rent, to satisfy any other covenant or obligation of Lessee hereunder, to compensate Lessor for any other loss or damage which Lessor may suffer by reason of any default by Lessee; provided that the Rent Reserve Deposit shall not be considered a limit on the measure of Lessor's damages in case of an Event of Default by Lessee.

  • Should Lessee fail or refuse to provide Lessor with such evidence of renewal, Lessor shall have the right to exercise a call upon the full amount of the letter of credit and convert the Rent Reserve Deposit to a cash deposit to be held by Lessor.

  • At such time as Lessee has discharged its obligations under all of the provisions of this Lease to be performed by Lessee, including surrender of the Leased Property in accordance with the provisions hereof, the Rent Reserve Deposit, shall be returned by Lessor to Lessee.

  • On or prior to the Commencement Date, Lessee will -------------------- deposit, as security for the performance of Lessee's covenants and obligations under this Lease, the sum of three times the monthly amount of Minimum Rent computed in accordance with Section 2.1(a) above (the "Rent Reserve Deposit") in the form of either (i) cash or (ii) an unconditional, irrevocable letter of credit drawn upon a national bank acceptable to Lessor.

  • If an Event of Default shall have occurred, Lessor may, at -------- its election, then or at any time thereafter, apply or appropriate, as the case may be, the Rent Reserve Deposit, or the then remaining balance thereof, as its remedy for any damages sustained by Lessor caused by a continuing Event of Default.

  • If an Event of Default shall have occurred, Lessor -------- may, at its election, then or at any time thereafter, apply or appropriate, as the case may be, the Rent Reserve Deposit, or the then remaining balance thereof, as its remedy for any damages sustained by Lessor caused by a continuing Event of Default.

  • In the event Lender determines that the maximum amount of Prepaid Rents at any time in the preceding twelve month period exceeds an amount equal to two (2) times the Initial Prepaid Rent Reserve Deposit (subject to adjustment as provided below, the "Prepaid Rent Threshold"), by an amount equal to or greater than 20% of the Prepaid Rent Threshold, then a "Prepaid Rent Condition" shall exist.

  • On the Closing Date, Borrowers shall deposit with Lender (or such agent of Lender as Lender may designate in writing to Borrowers from time to time) an amount equal to $450,000.00 for deposit into the Prepaid Rent Reserve Sub-Account ("Initial Prepaid Rent Reserve Deposit").

  • So long as no Event of Default has occurred and is continuing, Lessor shall pay to Lessee all accrued and unpaid interest, but interest only, under the Rent Reserve Deposit on each anniversary of the Commencement Date, except to the extent that such accrued interest is required to maintain the balance of the Rent Reserve Deposit equal to three times the then current monthly payment of the Minimum Rent.

  • Provided no Event of Default is continuing, Lender shall disburse from the Prepaid Rent Reserve Account to the Deposit Account on each Monthly Payment Date, the amount reflecting the portion of the Prepaid Rent Reserve Deposit applicable to (and prepaid on account of) such month.

Related to Rent Reserve Deposit

  • 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.

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

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 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 [*];

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

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

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Replacement Reserve As defined in Section 9.5.1.

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

  • Required Reserve Fund Deposit With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Aggregate Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date; provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of Offered Certificates, the Class B1 Certificates and the Class B2 Certificates has been reduced to zero, the Required Reserve Fund Deposit shall be zero.

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

  • Reserve Fund Initial Deposit means the initial deposit of cash in the amount of $3,846,153.85 made by or on behalf of the Seller into the Reserve Fund on the Closing Date.

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

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

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

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

  • 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.

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

  • 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.

  • 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.

  • Interest Reserve Amount has the meaning set forth in Section 5.1(d).

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

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

  • Reserve Funds means the Tax and Insurance Reserve Funds, the FF&E Reserve Funds, the Required Repair Funds, the PIP Reserve Funds, the Excess Cash Reserve Funds or any other escrow funds established by the Loan Documents.

  • Interest Reserve means, for any Calculation Period, the product (expressed as a percentage) of (i) 1.5 times (ii) the Alternate Base Rate as of the immediately preceding Cut-Off Date times (iii) a fraction the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.