Excess Cash Reserve Account shall have the meaning set forth in Section 9.5 hereof.
Excess Cash Reserve Account shall have the meaning set forth in Section 9.7 hereof.
Excess Cash Reserve Account shall have the meaning set forth in the Mortgage Loan Agreement.
Examples of Excess Cash Reserve Account in a sentence
At such time, as any Cash Management Period shall end, any funds held in the Excess Cash Reserve Account shall be returned to Borrowers (within two (2) Business Days), provided that if Lender shall have received notice that an “Event of Default” then exists under the Mezzanine Loan Agreement, then such funds shall be transmitted to Mezzanine Lender.
Provided no Event of Default has occurred and is continuing, sums from the Excess Cash Reserve Account shall be deposited with Lender.
At Lender’s option, the Excess Cash Reserve Account shall be maintained as a Subaccount of the Cash Management Account or be an account maintained by Servicer either at Servicer or at an Eligible Institution.
Lender shall disburse funds on deposit in the Excess Cash Reserve Account in accordance with the provisions of Section 7.8 hereof.
Borrower shall deposit (or cause to be deposited) the Required Excess Cash on each Payment Date during any Lockbox Cash Flow Sweep Period into the Excess Cash Reserve Account.
More Definitions of Excess Cash Reserve Account
Excess Cash Reserve Account. All amounts deposited into and held in the Excess Cash Reserve Account pursuant to this Section 16.7 shall hereinafter be referred to as the “Excess Cash Reserve Funds”. Funds held in the Excess Cash Reserve Account shall be held by Lender as additional collateral to secure the payment of the Indebtedness and, except as set forth in paragraph (b) of this Section 16.7, Borrower shall have no right to receive disbursements of or otherwise make use of any such Excess Cash Reserve Funds. In addition to the disbursements described in paragraph (b) of this Section 16.7, Lender may, but shall have no obligation to, disburse funds from the Excess Cash Reserve Account from time to time, in Lender’s sole discretion, to (i) prepay the Principal Amount of the Loan or (ii) pay any costs and expenses related to the Property or the Loan, all as may be determined in Lender’s sole discretion. If Borrower exercises the Fifth Extension Option, then upon Borrower’s written request and provided that no Event of Default shall have occurred and is then continuing, Lender shall disburse and otherwise apply the Excess Cash Reserve Funds in accordance with Section 5(c) of the Note.
Excess Cash Reserve Account means an interest-bearing blocked account with Agent in the name of Borrower, into which Excess Cash Flow shall be deposited as and when required under Section 4.16.
Excess Cash Reserve Account. All amounts deposited in the Excess Cash Reserve Fund shall be treated as a “Reserve Fund” for purposes of Section 7.5 hereof. Provided no Event of Default shall have occurred and be continuing, in the event of a Cash Sweep Cure pursuant to clause (b) or (c) of the definition of the term “Cash Sweep Cure”, the amount then remaining on deposit in the Excess Cash Reserve Account (including any Cash Sweep Cure Deposit) shall be promptly released to the applicable Individual Borrower.
Excess Cash Reserve Account is defined in Section 8.6.
Excess Cash Reserve Account shall have the meaning set forth in Section 7.8.1 hereof. “Excess Cash Reserve Fund” shall have the meaning set forth in Section 7.8.1 hereof. “Exchange Act” shall have the meaning set forth in Section 9.2(a) hereof. “Exchange Act Filing” shall have the meaning set forth in Section 9.2(a) hereof. “Executive Order” shall have the meaning set forth in the definition of Prohibited Persons. “Existing Tenant Improvement Reserve Account” shall have the meaning set forth in Section 7.5.1 hereof. “Existing Tenant Improvement Reserve Funds” shall have the meaning set forth in Section 7.5.1 hereof. “Family Member” shall mean, with respect to any Person, such Person’s spouse, the direct lineal descendants of such Person and their spouse, such Person’s siblings, the direct lineal descendants of such Person’s siblings, and any trusts for the benefit of the foregoing Persons, but excluding any Prohibited Persons. “FIRREA” shall mean the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as the same may be amended from time to time. “FIRRMA” shall mean, collectively, (i) the Defense Production Act of 1950, as amended (50 U.S.C. § 4565), all laws and regulations related thereto and all mandates, requirements, powers and similar requirements imposed or exercised thereunder (including, without limitation, the Foreign Investment Risk Review Modernization Act and any of the foregoing implemented by and/or otherwise relating to the Committee on Foreign Investment in the United States) and (ii) as the foregoing may be amended from time to time, any successor statute or statutes and all rules and regulations from time to time promulgated in connection with the foregoing. “FIRRMA Documents” means any notice, correspondence, document, agreement, declaration, or other communication relating to or arising in connection with FIRRMA; provided, however, that if the communication is oral, “FIRRMA Document” shall mean a written summary thereof prepared by Xxxxxxxx. “FIRRMA Prohibited Filing Event” shall mean an event which shall be deemed to have occurred if (i) any mandatory filing or declaration relating to FIRRMA is required and/or (ii) any Governmental Authority requires (or recommends to the President of the United States)
Excess Cash Reserve Account shall have the meaning set forth in Section 3.1.1(H).
Excess Cash Reserve Account has the meaning given to such term in the Cash Management Agreement.