Deposits of Rollover Funds. (a) Borrower shall deposit with Lender (i) on the Closing Date, an amount equal to $343,082 and (ii) on each Monthly Payment Date the sum of $171,541.00, for tenant improvements and leasing commissions that may be incurred following the date hereof, which amounts shall be transferred into an Account (the “Rollover Account”). Amounts deposited from time to time into the Rollover Account pursuant to this Section 6.6.1 are referred to herein as the “Rollover Funds”.
Deposits of Rollover Funds. (a) Borrowers shall deposit with or on behalf of Lender on each Monthly Payment Date the sum of $5,797.00 (the “Monthly Rollover Deposit”), for tenant improvements and leasing commissions that may be incurred following the date hereof, which amounts shall be transferred into an Account (the “Rollover Account”). Lender may from time to time reassess its reasonable estimate of the required monthly amount necessary for tenant improvements and leasing commissions and, upon notice to Borrowers, Borrowers shall be required to deposit with or on behalf of Lender each month such reassessed amount, which shall be transferred into the Rollover Account. Amounts deposited from time to time into the Rollover Account pursuant to this Section 6.6.1 are referred to herein as the “Rollover Funds”.
Deposits of Rollover Funds. In the event that Borrower receives a fee, payment or other compensation from any Tenant under a Major Lease relating to or in exchange for the termination of such Tenant's Lease (a "Lease Termination Fee") Borrower shall immediately deposit such Lease Termination Fee with Lender, to be utilized for tenant improvements and leasing commissions that may be incurred with respect to the space relating to such Lease Termination Fee (a "Termination Space") and, in the event that there is a Rent Deficiency (as hereinafter defined) for the Termination Space from and after the date that the Major Lease for the Termination Space was terminated, in replacement of Rent. Amounts deposited pursuant to this Section 6.6.1 are referred to herein as the "Lease Termination Rollover Funds".
Deposits of Rollover Funds. (a) Amounts deposited from time to time into the Rollover Account pursuant to this Section 6.6.1 are referred to herein as the “Rollover Funds”.
Deposits of Rollover Funds. During the continuance of a Trigger Period only, Borrowers shall deposit with Lender on each Monthly Payment Date an aggregate amount equal to one-twelfth of the Rollover Amount for each Individual Property for tenant improvements and leasing commissions that may be incurred at each Individual Property following the date hereof. Any amounts deposited pursuant to this Section 6.5.1 are referred to herein as the “Rollover Funds.”
Deposits of Rollover Funds. In the event that Borrower receives a fee, payment or other compensation from any Tenant relating to or in exchange for the termination of such Tenant’s Lease (a “Lease Termination Fee”), Borrower shall, during the continuance of a Trigger Period only, immediately deposit such Lease Termination Fee with Lender, to be utilized for tenant improvements and leasing commissions that may be incurred with respect to the space relating to such Lease Termination Fee (a “Termination Space”) and, in the event that there is a Rent Deficiency (as hereinafter defined) for the Termination Space from and after the date that the Lease for the Termination Space was terminated, in replacement of Rent. Amounts deposited pursuant to this Section 6.6.1 are referred to herein as the “Lease Termination Rollover Funds.”
Deposits of Rollover Funds. Upon the occurrence of a Trigger Event and during the continuance of a Trigger Period there shall be deposited with Lender on each Monthly Payment Date the sum of $15,000.00, for tenant improvements and leasing commissions that may be incurred following the date hereof. Amounts deposited pursuant to this Section 6.5.1 are referred to herein as the "Rollover Funds".
Deposits of Rollover Funds. (a) Borrower shall deposit with or on behalf of Lender on each Monthly Payment Date the sum of $10,683.77 (the “Monthly Rollover Reserve Deposit”), for tenant improvements and leasing commissions that may be incurred following the date hereof, which amounts shall be transferred into an Account (the “Rollover Account”). Lender may from time to time reassess its estimate of the required monthly amount necessary for tenant improvements and leasing commissions and, upon notice to Borrower, Borrower shall be required to deposit with or on behalf of Lender each month such reassessed amount, which shall be transferred into the Rollover Account. Amounts deposited from time to time into the Rollover Account pursuant to this Section 6.6.1 are referred to herein as the “Rollover Funds”. Notwithstanding the foregoing, Borrower shall not be required to make the Monthly Rollover Reserve Deposit on any Monthly Payment Date on which each of the following conditions is satisfied (as determined by Lender in its sole and absolute discretion): (i) no Event of Default has occurred and is continuing, (ii) the PUREgraphite Lease is in full force and effect without any monetary or material non-monetary default by PUREgraphite Tenant under the PUREgraphite Lease beyond applicable cure periods then continuing, and (iii) PUREgraphite Tenant and/or PUREgraphite Guarantor has an Investment Grade Rating.
Deposits of Rollover Funds. (a) On the date hereof, Borrower shall deposit with Lender an amount equal to $280,000.00 for deposit into an account of Lender (such account, the “Rollover Account” and any amounts deposited pursuant to this Section 7.4.1 are referred to herein as the “Rollover Funds”) for tenant improvements and leasing commissions that may be incurred following the date hereof. Thereafter, if at any time from time to time, the available balance of Rollover Funds on deposit in the Rollover Account is less than $150,000.00, then Borrower shall deposit with Lender on each Payment Date thereafter an amount equal to $8,049.77 (the “Monthly Rollover Deposit”), until such time as the balance of available Rollover Funds on deposit in the Rollover Reserve Account pursuant to this Section 7.4.1(a) equals $280,000.00 (the “Rollover Cap Amount”). Notwithstanding anything to contrary contained herein, upon the occurrence and during the continuance of a Major Tenant Trigger Period, Borrower shall commence making monthly deposits to the Rollover Account on each Payment Date in an amount equal to the Monthly Rollover Deposit until such time as no Major Tenant Trigger Period exists, notwithstanding the balance of available funds in the Rollover Account may exceed the Rollover Cap Amount. At such time that the applicable Major Tenant Trigger Event Cure has occurred and provided no other Major Tenant Trigger Period exists, all available Rollover Funds in excess of the Rollover Cap Amount shall be deposited into the Clearing Account.
Deposits of Rollover Funds. In the event Borrower exercises its right to extend the term of the Loan pursuant to Section 2.3 hereof, during each Extension Term, Borrower shall deposit with Agent or Servicer on behalf of Agent (or cause to be deposited with Agent or Servicer pursuant to the Cash Management Agreement), on each Monthly Payment Date after the commencement of the applicable Extension Term (the “Extension Term Commencement Date”), an amount equal to $54,838.75 for Tenant Improvements costs, Tenant Improvement Allowances and Leasing Commissions. Amounts deposited pursuant to this Section 6.5.1 are referred to herein as the “Rollover Funds” and shall be utilized for the payment of Tenant Improvements, Tenant Improvement Allowances and Leasing Commissions incurred after the Extension Term Commencement Date under Leases entered into in accordance with the terms and provisions of this Agreement. The Rollover Funds shall be held in the Rollover Reserve Subaccount (as defined in the Cash Management Agreement), which shall be an Interest Bearing Account.
