Required Repair Account definition

Required Repair Account shall have the meaning set forth in Section 7.1.1 hereof.
Required Repair Account shall have the meaning set forth in Section 9.1(b) hereof.
Required Repair Account has the meaning set forth in Section 7.1.1 hereof.

Examples of Required Repair Account in a sentence

  • Upon the occurrence and during the continuance of an Event of Default, Lender, at its option, may withdraw all Required Repair Funds from the Required Repair Account and Lender may apply such funds either to completion of the Required Repairs at the Property or toward payment of the Debt in such order, proportion and priority as Lender may determine in its discretion.

  • Xxxxxx’s right to withdraw and apply Required Repair Funds shall be in addition to all other rights and remedies provided to Lender under this Agreement and the other Loan Documents; provided, however, any unapplied portions of the Required Repair Funds after the cessation of such Event of Default shall promptly be returned by Lender to Borrower or into the Required Repair Account, as the case may be.


More Definitions of Required Repair Account

Required Repair Account shall have the meaning set forth in Section 3.1(b)(v) hereof.
Required Repair Account shall have the meaning set forth in the Mortgage Loan Agreement.
Required Repair Account shall have the meaning set forth in the Cash Management Agreement.
Required Repair Account shall have the meaning assigned to such term in the Mortgage Loan Agreement or such comparable account as shall be established under this Agreement in accordance with Section 7.1 hereof.
Required Repair Account. It shall be an Event of Default under this Agreement if Borrower does not either (i) does not deposit with Lender the Required Repair Fund as set forth above, or (ii) complete the Required Repairs at the Property within nine (9) months from the Closing Date. Upon the occurrence of such an Event of Default, Lender, at its option, may withdraw all Required Repair Funds from the Required Repair Account and Lender may apply such funds either to completion of the Required Repairs at the Property or toward payment of the Debt in such order, proportion and priority as Lender may determine in its sole discretion. Lender’s right to withdraw and apply Required Repair Funds shall be in addition to all other rights and remedies provided to Lender under this Agreement and the other Loan Documents.
Required Repair Account shall have the meaning set forth in Sec- tion 7.2.1.
Required Repair Account. As of the Assumption Date, the amount held in the Required Repair Fund is $100,527.88.