Required Repairs Account definition

Required Repairs Account shall have the meaning set forth in Section 6.2.1.
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Required Repairs Account is defined in Section 2.7(a) hereof. “Required Repairs” is defined in Section 2.7(h) hereof.
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Required Repairs Account. 6.2.1 “Required Repairs Funds” - 6.2.1 “Required Repairs” - 6.2.1 “Review Waiver” - 10.3(b) “Secondary Market Transaction” - 9.1(a) “Securities” - 9.1(a)
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Examples of Required Repairs Account in a sentence

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

  • Upon Borrower’s completion of all Required Repairs in accordance with this Section 6.2, Lender shall direct Servicer to release any remaining Required Repairs Funds, if any, in the Required Repairs Account to Borrower.

  • Lender shall not be required to make disbursements from the Required Repairs Account unless such requested disbursement is in an amount greater than $5,000 (or a lesser amount if the total amount in the Required Repairs Account is less than $5,000, in which case only one disbursement of the amount remaining in the account shall be made) and such disbursement shall be made only upon satisfaction of each condition contained in this Section 7.1.2.

  • If Tenant has not completed all such Deferred Maintenance to the reasonable satisfaction of Landlord prior to such date, on October 5, 2002 Tenant shall deposit into a Required Repairs Account, for the benefit of Landlord, which account may be pledged to Lender (and Tenant hereby consents to such pledge), an amount equal to 125% of the cost of such Deferred Maintenance, which amount Tenant agrees shall be $46,912.50.

  • Upon Borrower's completion of all Required Repairs in accordance with this Section 6.2, Lender shall direct Servicer to release any remaining Required Repairs Funds, if any, in the Required Repairs Account to Borrower.

  • Upon the completion of all Required Repairs (other than the ADA Repairs) in accordance with this Section 6.2, Lender shall direct Servicer to release any remaining Required Repairs Funds, if any, in the Required Repairs Account to Borrower.

  • All Required Repairs Funds shall be transferred by Deposit Bank into an Account established to hold such funds (the "Required Repairs Account").

  • Upon the completion of all Required Repairs for all Properties in accordance with this Section 6.2, Lender shall direct Servicer to release any remaining Required Repairs Funds, if any, in the Required Repairs Account to Borrowers.

  • In addition to the foregoing, to the extent an Individual Property has been released from the Lien under the Loan Documents in accordance with the terms hereof, the Required Repairs Funds, if any, related to such released Individual Property shall promptly be released from the Required Repairs Account to Borrower free and clear of any Lien or continuing security interest under the Loan Documents.

  • Growth decelerated in 2013 “short of the estimated 4.25% trend, largely on account of weaker consumption and net exports.

Related to Required Repairs Account

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

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

  • 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.

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

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