Common use of Adjustment of the Letter of Credit Clause in Contracts

Adjustment of the Letter of Credit. Borrower shall deliver to Xxxxxx Xxx copies of the paid bills and notices of assessments for Taxes for each Mortgaged Property within thirty (30) days after the date on which the Taxes are due and payable. Not more than one time each calendar year, Borrower shall, promptly after receipt of notice from Xxxxxx Mae, deliver to Xxxxxx Xxx an amendment or replacement of the Letter of Credit in the Maximum Escrow Amount for the then-current calendar year, as such yearly amount is reasonably determined by Xxxxxx Mae pursuant to this Agreement.

Adjustment of the Letter of Credit. Borrower shall deliver to Xxxxxx Xxx Mae copies of the paid bills and notices of assessments for Taxes for each Mortgaged Property within thirty (30) 30 days after the date on which the Taxes are due and payable. Not more than one time each calendar year, Borrower shall, promptly after receipt of notice from Xxxxxx MaeXxx, deliver to Xxxxxx Xxx Mae an amendment or replacement of the Letter of Credit in the Maximum Escrow Amount for the then-current calendar year, as such yearly amount is reasonably determined by Xxxxxx Mae Xxx pursuant to this Agreement.

Adjustment of the Letter of Credit. Borrower shall deliver to Xxxxxx Xxx copies of the paid bills and notices of assessments for Taxes for each Mortgaged Property within thirty (30) days after the date on which the Taxes are due and payable. Not more than one time each calendar year, Borrower shall, promptly after receipt of notice from Xxxxxx MaeXxx, deliver to Xxxxxx Xxx Mae an amendment or replacement of the Letter of Credit in the Maximum Escrow Amount for the then-current calendar year, as such yearly amount is reasonably determined by Xxxxxx Mae Xxx pursuant to this Agreement.