AGENT NOT REQUIRED TO ADVANCE FUNDS Sample Clauses

AGENT NOT REQUIRED TO ADVANCE FUNDS. In the event that the balance in the Operating (and/or) Reserve Account(s) is at any time insufficient to pay disbursements due and payable under paragraphs 4.1 and 4.2 above, Owner shall, immediately upon notice, remit to Agent sufficient funds to cover the deficiency and replenish the contingency reserve. In no event shall Agent be required to use its own funds to pay such disbursements. Nor shall Agent be required to advance any monies to Owner, to the Security Deposit Account, or to the Operating (and/or) Reserve Account(s). If Agent elects to advance any money in connection with the Premises to pay any expenses for Owner, such advance shall be considered a loan subject to repayment with interest, and Owner hereby agrees to reimburse Agent, including interest as provided in paragraph 17.7, and hereby authorizes Agent to deduct such amounts from any monies due Owner.
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AGENT NOT REQUIRED TO ADVANCE FUNDS. In the event that the Owner’s balance in the Escrow Account is at any time insufficient to pay disbursements due and payable under Section 4, Owner shall, immediately upon notice, remit to Agent sufficient funds to cover the deficiency. In no event shall Agent be required to use its own funds to pay such disbursements. Nor shall Agent be required to advance any monies to Owner or to any Escrow Account. Any deficiency in funds owed by Owner shall be considered a loan subject to repayment with interest, and Owner hereby agrees to reimburse Agent, including interest and hereby authorizes Agent to deduct such amounts from any monies due owner. Any sums due Agent under any provision of this Agreement, not paid within thirty (30) days after such sums have become due, shall bear interest at the rate of 20% APR, however, not less than Twenty Five Dollars ($25.) per month, until paid in full. Mailing or E-mailing monthly statement of income and expenses indicating a deficient Owner balance shall be sufficient notice to Owner of balance due. In the event that an action is brought by the Agent to recover any monies due Agent, for services rendered to the Owner as a result of this agreement, Owner agrees to pay Agent’s reasonable attorney’s fee in connection therewith.
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AGENT NOT REQUIRED TO ADVANCE FUNDS. Agent shall have no obligation to advance funds to the Association for any purpose whatsoever. Any funds advanced to the Association by Agent shall be repaid to Agent immediately from the Association's funds. Any sums due Agent under any provision of this Agreement, and not paid within thirty (30) days after such sums have become due, shall bear interest at the rate of 12% per annum.
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AGENT NOT REQUIRED TO ADVANCE FUNDS. In the event that the balance in the Operating Account is at any time insufficient to pay disbursements due and payable under this Agreement, Owner shall, immediately upon notice, remit to Agent sufficient funds to cover the deficiency and replenish the Initial Deposit balance. In no event shall Agent be required to use its own funds to pay any disbursements on behalf of Owner. Nor shall Agent be required to advance any monies to Owner, to the Security Deposit Account, or to the Operating Account. MDA City Apartments (Recap) 4
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AGENT NOT REQUIRED TO ADVANCE FUNDS. In the event that the balance in the Operating Account is at any time insufficient to pay disbursements due and payable under this Agreement, Owner shall, immediately upon notice, remit to Agent sufficient funds to cover the deficiency and replenish the Initial Deposit balance. In no event shall Agent be required to use its own funds to pay any disbursements on behalf of Owner. Nor shall Agent be required to advance any monies to Owner, to the Security Deposit Account, or to the Operating Account.
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AGENT NOT REQUIRED TO ADVANCE FUNDS. Agent shall have no obligation to advance funds from the Association bank account to pay for any of the expenses of the property as delineated in paragraph 5 or for any other purpose whatsoever. Initials
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AGENT NOT REQUIRED TO ADVANCE FUNDS. Agent shall have no obligation to advance funds to the Association for any purpose whatsoever. Any funds advanced to the Association by Agent shall be repaid to Agent immediately from the Association's funds.
Sample 1
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AGENT NOT REQUIRED TO ADVANCE FUNDS. If Agent elects to advance any money in connection with the Premises to pay any expenses for Owner, such advance shall be considered a loan subject to repayment, and Owner hereby agrees to reimburse Agent, and hereby authorizes Agent to deduct such amounts from any monies due Owner. Agent agrees to advance funds for a maximum of three (3) months after the account is reconciled. This includes but is not limited to maintenance repairs, carpet cleaning, residential cleaning, utility bills, part replacement, etc. incurred because of items the owner is responsible for or amounts incurred because of tenants.
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AGENT NOT REQUIRED TO ADVANCE FUNDS. AGENT shall have no obligation to advance funds to the OWNER for any purpose whatsoever. Any funds advanced to the OWNER by AGENT shall be repaid to AGENT immediately from the OWNER's funds. Any sums due AGENT under any provision of this Agreement, and not paid within 10 days after such sums have become due, shall bear interest at the rate of 2.0% per month.
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Related to AGENT NOT REQUIRED TO ADVANCE FUNDS

  • Agreement to Advance Funds (a) The Investor agrees to advance the amount specified in the Advance Notice to the Company after the completion of each of the following conditions and the other conditions set forth in this Agreement:

  • Disbursement of Advance Proceeds All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or Lenders, shall be charged to Borrowers' Account on Agent's books. During the Term, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrowers or deemed to have been requested by Borrowers under Section 2.2(a) hereof shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower's operating account at PNC, or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Revolving Advances deemed to have been requested by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

  • Disbursements from Replacement Reserve Account (a) Lender shall make disbursements from the Replacement Reserve Account to pay Borrower only for the costs of the Replacements. Lender shall not be obligated to make disbursements from the Replacement Reserve Account to reimburse Borrower for the costs of routine maintenance to the Property or for costs which are to be reimbursed from the Required Repair Fund (if any).

  • Permitted Withdrawals From Custodial Account The Servicer shall, from time to time, withdraw funds from the Custodial Account for the following purposes:

  • Disbursement of Advance Subject to the provisions of this Agreement, the Agent shall on each Drawdown Date pay to the Borrower the amounts which the Agent receives from the Lenders under Clause 4.5; and that payment to the Borrower shall be made:

  • Disbursement of Advances (a) Upon receiving any Request for Revolving Credit Advance from Borrower under Section 2.3 hereof, Agent shall promptly notify each Revolving Credit Lender by wire, telex or telephone (confirmed by wire, telecopy or telex) of the amount of such Advance being requested and the date such Revolving Credit Advance is to be made by each Revolving Credit Lender in an amount equal to its Revolving Credit Percentage of such Advance. Unless such Revolving Credit Lender’s commitment to make Revolving Credit Advances hereunder shall have been suspended or terminated in accordance with this Agreement, each such Revolving Credit Lender shall make available the amount of its Revolving Credit Percentage of each Revolving Credit Advance in immediately available funds to Agent, as follows:

  • Permitted Withdrawals from the Collection Account The Servicer may, from time to time, withdraw funds from the Collection Account for the following purposes:

  • Permitted Withdrawals from the Collection Accounts and Certificate Account (a) Each Servicer may from time to time make withdrawals from the related Collection Account for the following purposes:

  • Conditions to Advances The obligation of Lender to make each Advance hereunder, including the Initial Advance, shall be subject to the prior or simultaneous occurrence or satisfaction of each of the following conditions:

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