Reserve Funds definition

Reserve Funds means, collectively, the Tax and Insurance Escrow Fund, the Replacement Reserve Fund, the Required Repair Fund, the Initial Renovation Reserve Fund, the Interest Reserve Fund, the General Reserve Fund, any funds on deposit in the Construction Loan Reserve Account, any Shortfall Funds and any other escrow fund established pursuant to the Loan Documents.

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Reserve Funds. With respect to any Mortgage Loan, any amounts delivered by the related Mortgagor to be held in escrow by or on behalf of the mortgagee representing reserves for environmental remediation, repairs, capital improvements, tenant improvements and/or leasing commissions with respect to the related Mortgaged Property.

Reserve Funds as defined in the Mortgage Loan Agreement.

Examples of Reserve Funds in a sentence

If at any time during which Borrower is required to make payments of Tax and Insurance Reserve Funds pursuant to this Section 8.6, the amount on deposit in the Tax Account and/or the Insurance Account shall exceed the amounts due for Taxes and Insurance Premiums pursuant to Sections 4.5 and 7.1 hereof, Lender shall, in its discretion, disburse any excess to the Restricted Account or credit such excess against future payments to be made to the Tax and Insurance Funds.
All interest on Reserve Funds (i) shall be added to and become a part of such Reserve Fund, (ii) shall accrue to the benefit of Borrower and (iii) shall be disbursed in the same manner as other monies deposited in such Reserve Fund.
Borrower shall be responsible for payment of any federal, state or local income or other tax applicable to the interest earned on the Reserve Funds credited or paid to Borrower, provided that, so long as no Event of Default is continuing, such taxes may be paid from the applicable Reserve Funds.
Upon the cure of the applicable Trigger Period and provided that no other Trigger Period shall then exist, amounts in the Ground Lease Reserve Funds shall be disbursed to the Restricted Account on the next Monthly Payment Date.
The foregoing consent right of Lender (including, without limitation, any reserve requirement) shall not be subject to any “cap” or similar limit on the amount of Reserve Funds held by Lender.

More Definitions of Reserve Funds

Reserve Funds means an amount set aside by the body corporate to meet the unexpected costs that may arise in future, including future cost of maintenance;

Reserve Funds means, collectively, the Tax and Insurance Escrow Fund, the FF&E Reserve Fund, any funds in any of the Reserve Accounts and in any other escrow fund or account established pursuant to the Loan Documents.

Reserve Funds means the Tax and Insurance Escrow Fund, the Replacement Reserve Fund, the Required Repair Fund (if any), or any other escrow fund established by the Loan Documents.

Reserve Funds means, collectively, the Tax and Insurance Escrow Funds, the Replacement Reserve Funds, the Excess Cash Flow Reserve Funds and any other funds in any other escrow account established pursuant to the Loan Documents.

Reserve Funds. With respect to any Mortgage Loan or Serviced Loan Combination, any amounts delivered by the related Borrower to be held in escrow by or on behalf of the mortgagee representing: (i) reserves for repairs, replacements, capital improvements and/or environmental testing and remediation with respect to the related Mortgaged Property, for ongoing or threatened litigation or, with respect to any residential cooperative Mortgaged Property, for any unit maintenance or rent receivables or negative carry; (ii) reserves for tenant improvements and leasing commissions; (iii) reserves for debt service; or (iv) amounts to be applied as a Principal Prepayment on such Mortgage Loan or Serviced Loan Combination or held as Additional Collateral if certain leasing or other economic criteria in respect of the related Mortgaged Property are not met.

Reserve Funds means, collectively, all funds deposited by Borrower with Lender or Collection Account Bank pursuant to Article 6, including, but not limited to, the Capital Expenditure Funds, the Insurance Funds, the Tax Funds, the HOA Funds, the Casualty and Condemnation Funds, the Cash Collateral Funds, the Special Insurance Reserve Funds and the Eligibility Funds.

Reserve Funds means, with respect to any Mortgage Loan, any amounts delivered by the related Mortgagor to be held by or on behalf of the mortgagee representing reserves for repairs, capital improvements and/or environmental remediation in respect of the related Mortgaged Property or debt service on such Mortgage Loan.