Repair Escrow Account definition

Repair Escrow Account as defined in Section 4.1.11.
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Repair Escrow Account shall have the meaning set forth in Section 7(a).
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Repair Escrow Account has the meaning set forth in Section 7 hereof. (vv) "Replacement Agreement" means that certain Replacement Reserve Agreement dated as of the date hereof between Borrower and Lender. (ww) "Replacement Reserve Account" has the meaning set forth in Section 7 hereof. (xx) "Securities" has the meaning set forth in Section 21 hereof. (yy) "Servicer" means the servicer of the Loan designated by Lender, in its sole and absolute discretion, from time to time. (zz) "Subordinate Loan" has the meaning set forth in Section 65 hereof. (aaa) "Tax and Insurance Escrow Account" has the meaning set forth in Section 7 hereof. (bbb) "Tax and Insurance Escrow Fund" has the meaning set forth in Section 6 hereof. (ccc) "Taxes" has the meaning set forth in Section 5 hereof. (ddd) "Uniform Commercial Code" means the Uniform Commercial Code, as adopted and enacted by the State or States where any of the Mortgaged Property is located. Capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Note.
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Examples of Repair Escrow Account in a sentence

  • Lender shall disburse to Borrower all unapplied funds remaining in the Immediate Repair Escrow Account upon receipt of evidence satisfactory to Lender that (i) Borrower has completed, in the manner required by this Loan Agreement, all Reserve Items to be funded by such Reserve Account, and (ii) no Liens exist against the Property with respect to such Reserve Items.

  • The Repair Escrow Account, the Tax and Insurance Reserve Account, the Replacement Reserve Account, and all other reserve and/or escrow accounts established or required pursuant to the provisions of the Loan Documents, including, without limitation, pursuant to the Program Rider.

  • This includes any unused contingency funds, inspection fees or mortgage payments, along with the earned interest on the Repair Escrow Account funds.

  • Step 5 – Payment of Interest from the Repair Escrow Account Once Plaza has released the final balance of funds including holdback funds, any amount remaining in the repair escrow account will be applied toward the principal balance of the loan.

  • Title searches may take up to 5 days, therefore, you should allow 15 business days for receipt of funds.Step - 5 Payment of Interest from the Repair Escrow Account Once Plaza has released the final balance of funds including holdback funds, any amount remaining in the Repair Escrow Account will be applied to the principal balance of the loan.

  • Amounts in the Immediate Repair Escrow Account are to be used for the purpose of funding the Immediate Repairs, which Borrower covenants and agrees to perform in accordance with the terms of this Loan Agreement on or before the dates specified on Exhibit C but not later than twelve (12) months from the date hereof.

  • Within ten (10) days after such notice from Lender, Borrower shall deliver the deficiency amount to Lender, and Lender shall deposit in the Immediate Repair Escrow Account and hold and administer same in accordance with this Loan Agreement subject, however, to the terms set forth in Section 4.01(h) above.

  • Lender shall make disbursements from the Immediate Repair Escrow Account upon Borrower's performance, to Lender's satisfaction, of all conditions to disbursement set forth in Article 5 of this Loan Agreement.

  • Step - 4 Payment of Interest from the Repair Escrow Account Once Plaza has released the final balance of funds, any amount remaining in the Repair Escrow Account will be applied to the principal balance of the loan.

  • Change Request Form (if applicable) Step 3 - Release of Repair Escrow Account Funds Before issuing a check for the balance of your Repair Escrow Account, Plaza must conduct a final inspection and title search.

Related to Repair Escrow Account

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • Adjustment Escrow Account means the escrow account established pursuant to the Escrow Agreement in respect of the Adjustment Escrow Amount.

  • Required Repair Account shall have the meaning set forth in Section 7.1.1 hereof.

  • Escrow Accounts means (1) accounts of Parent or any Subsidiary, solely to the extent any such accounts hold funds set aside by Parent or any Subsidiary to manage the collection and payment of amounts collected, withheld or incurred by Parent or such Subsidiary for the benefit of third parties relating to: (a) federal income tax withholding and backup withholding tax, employment taxes, transportation excise taxes and security related charges, (b) any and all state and local income tax withholding, employment taxes and related charges and fees and similar taxes, charges and fees, including, but not limited to, state and local payroll withholding taxes, unemployment and supplemental unemployment taxes, disability taxes, xxxxxxx’x or workers’ compensation charges and related charges and fees, (c) state and local taxes imposed on overall gross receipts, sales and use taxes, fuel excise taxes and hotel occupancy taxes, (d) passenger facility fees and charges collected on behalf of and owed to various administrators, institutions, authorities, agencies and entities, (e) other similar federal, state or local taxes, charges and fees (including without limitation any amount required to be withheld or collected under applicable law) and (f) other funds held in trust for, or otherwise pledged to or segregated for the benefit of, an identified beneficiary; or (2) accounts, capitalized interest accounts, debt service reserve accounts, escrow accounts and other similar accounts of Parent or any Subsidiary or funds established in connection with the ARB Indebtedness.

  • Required Repair Fund shall have the meaning set forth in Section 7.1.1 hereof.

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

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

  • Escrow Deposit shall have the meaning set forth in Section 2.2(a).

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

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

  • 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.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

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

  • Repair facility Means any licensed automotive REPAIR FACILITY capable of performing repair services to a COVERED PART, approved by the ADMINISTRATOR, and at which YOU seek to acquire service under this CONTRACT.

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

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

  • 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.

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

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

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

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Adjustment Escrow Funds means, at any time, the portion of the Adjustment Escrow Amount then remaining in the Adjustment Escrow Account.

  • Spread Account Initial Deposit means an amount equal to 2.0% of the aggregate Principal Balance of the Receivables on the Cutoff Date (which is equal to $21,505,439.97).

  • Tax and Insurance Escrow Fund shall have the meaning set forth in Section 7.2 hereof.

  • Casualty Amount means Five hundred thousand Dollars ($500,000) (or the equivalent in any other currency);