Tax and Insurance Reserve Funds definition

Tax and Insurance Reserve Funds shall have the meaning set forth in Section 9.6 hereof.
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Tax and Insurance Reserve Funds means all funds from time to time on deposit in the Tax and Insurance Reserve Account.]
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Tax and Insurance Reserve Funds is defined in Section 9.6(a) hereof.
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Examples of Tax and Insurance Reserve Funds in a sentence

  • While any Default or Event of Default is continuing, Lender may, but shall have no obligation to, make disbursements of Tax and Insurance Reserve Funds.

  • While any Default or Event of Default is continuing, Administrative Agent may, but shall have no obligation to, make disbursements of Tax and Insurance Reserve Funds (subject to the right of the Required Lenders to apply the Tax and Insurance Reserve Funds as the Required Lenders may elect in their sole discretion).


More Definitions of Tax and Insurance Reserve Funds

Tax and Insurance Reserve Funds. The account in which the Tax and Insurance Reserve Funds are held shall hereinafter be referred to as the “
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Tax and Insurance Reserve Funds shall have the meaning set forth in Section 8.6 hereof.
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Tax and Insurance Reserve Funds shall have the meaning set forth in Section 4.7 hereof. “Tax and Insurance Reserve Subaccount” has the meaning given in the Cash Management Agreement. “Taxes” shall mean all taxes, assessments, water rates, sewer rents, sales tax, room tax, business improvement district or other similar assessments and other governmental impositions, including, without limitation, vault charges and license fees for the use of vaults, chutes and similar areas adjoining the Land, now or hereafter levied or assessed or imposed against the Property or any part thereof. “TCO” shall mean any temporary certificate of occupancy for all or any portion of the Property, issued by the appropriate Governmental Authority. “Tenant” shall mean any Person leasing, subleasing or otherwise occupying any portion of the Property under a Lease or other occupancy agreement with Borrower (but not hotel guests). “Tenant Direction Letter” shall have the meaning set forth in Section 3.3(a) hereof. “Term SOFR” means the Term SOFR Reference Rate on the day (such day, the “Periodic Term SOFR Determination Day”) that is two (2) U.S. Government Securities Business Days prior to the first day of each Interest Accrual Period, as such rate is published by the Term SOFR Administrator; provided, however, that if as of 5:00 p.m. (New York City time) on any Periodic Term SOFR Determination Day the Term SOFR Reference Rate for the applicable tenor has not been published by the Term SOFR Administrator and a benchmark replacement date, as determined by Agent, with respect to the Term SOFR Reference Rate has not occurred, then Term SOFR will be the Term SOFR Reference Rate for such tenor as published by the Term SOFR Administrator on the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate for such tenor was published by the Term SOFR Administrator so long as such first preceding U.S. Government Securities Business Day is not more than three (3) U.S. Government Securities Business Days prior to such Periodic Term SOFR Determination Day; provided, however, that if Term SOFR as so determined would be less than three and three-quarters percent (3.75%), such rate shall be deemed to be three and three-quarters percent (3.75%). Any change in Term SOFR due to a change in SOFR shall be effective from and including the effective date of such change in SOFR without notice to Borrower.
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Related to Tax and Insurance Reserve Funds

  • Tax and Insurance Escrow Fund shall have the meaning set forth in Section 7.2 hereof.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Reserve Funds means, collectively, the Tax and Insurance Reserve Fund, the Replacement Reserve Fund, the Required Repair Fund, the Rollover Reserve Fund, the Ground Lease Reserve Fund, the Excess Cash Flow Reserve Fund and any other escrow fund established by the Loan Documents.

  • Insurance Account shall have the meaning set forth in Section 8.6 hereof.

  • Initial Reserve Account Deposit means $3,000,000.

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,802,496.17.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Initial Reserve Account Deposit Amount means an amount equal to $12,240,151.27.

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

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

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

  • Required Reserve Fund Deposit With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Aggregate Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date; provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of Offered Certificates, the Class B1 Certificates and the Class B2 Certificates has been reduced to zero, the Required Reserve Fund Deposit shall be zero.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Insurance Premiums shall have the meaning set forth in Section 6.1(b) hereof.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.