Application of Deposits. The Depositor and the Servicer shall deposit or cause to be deposited in the Collection Account the aggregate Purchase Amount with respect to Purchased Contracts pursuant to Section 2.3 hereof or Sections 2.02 and 2.28 of the Servicing Agreement. All such deposits with respect to a Collection Period shall be made in immediately available funds no later than 5:00 p.m., New York City time, on the Business Day preceding the Payment Date following such Collection Period.
Application of Deposits. In addition to any rights of set-off arising under the Loan Documents or under law, the Borrower hereby authorizes the Lender to apply any amount on deposit in any deposit account of the Borrower now or hereafter maintained with the Lender against any of the Borrower's indebtedness under the Loan Documents which is not paid when due.
Application of Deposits. Tenant understands and agrees that the pet fee and the security deposit may not be applied by Tenant as rent or against any other amount due from Tenant to Owner, and that the monthly rent will be paid each month. Tenant further understands that these deposits do not limit Tenant’s responsibility to reimburse Owner for any damages or other sums due or payable hereunder.
Application of Deposits. Section 3.5. Determination Date Calculations. Section 3.6. Reserve Account.
Application of Deposits. All such deposited sums shall be held by Lender and applied in such order as Lender elects to pay such rents, taxes, assessments, premiums and Other Impositions or, in the Event of Default hereunder, may be applied in whole or in part, to indebtedness secured hereby. The arrangement provided for in this Article III is solely for the added protection of Lender and, except as may otherwise be required by applicable law, entails no responsibility on Lender’s part beyond the allowing of due credit, without interest, for the sums actually received by it. Upon any assignment of this Mortgage by Lender, any funds on hand shall be turned over to the assignee and any responsibility of Lender with respect thereto shall terminate. Each transfer of the Property shall automatically transfer to the transferee all rights of Borrower with respect to any funds accumulated hereunder. Upon payment in full of the Secured Obligations, Lender shall promptly refund to Borrower the remaining balance of any deposits then held by Lender. 3.3
Application of Deposits. In the event of any Default, Lender may, at its option, without being required to do so, apply any monies or securities that constitute deposits made to or held by Lender or any depositary pursuant to any of the provisions of this Mortgage toward payment of any of the Mortgagor’s obligations under the Note, this Mortgage, or any of the other Loan Documents, in such order and manner as Lender may elect. When the indebtedness secured hereby has been fully paid, any remaining deposits shall be paid to Mortgagor or to the then owner or owners of the Mortgaged Property. Such deposits are hereby pledged as additional security for the prompt payment of the indebtedness evidenced by the Note and any other indebtedness secured hereby and shall be held to be applied irrevocably by such depositary for the purposes for which made hereunder and shall not be subject to the direction or control of Mortgagor. JPMorgan Chase Bank, N.A.
Application of Deposits. All amounts deposited in the Concentration Account from time to time shall be applied to the Obligations upon (a) final collection thereof and (b) their transfer from the Bank to Lender in accordance with this Section, effective on the Business Day that each such payment is received (such date being called herein the “Application Date”). For purposes of the preceding sentence, Lender shall be deemed to have received a payment from the Bank on a particular Business Day only if it receives by wire transfer the same prior to 1:00 p.m. on such Business Day or, if received after such time, on the next following Business Day. Lender is not, however, required to credit Borrower’s Account for the amount of any item of payment which is unsatisfactory to Lender and Lender may charge Borrower’s Account for the amount of any item of payment which is returned to Lender unpaid. Lender shall apply all amounts deposited in the Concentration Account as provided in Section 16.5 or, as applicable, Section 12.2. Each prepayment of a Revolving Advance pursuant to this Section shall be applied, first, to the payment of Domestic Rate Loans and second, to the payment of Daily LIBOR Rate Loans. If sufficient funds are not available to fund all payments then to be made in respect of any Obligations, the available funds being applied with respect to such Obligations shall be allocated to the payment of such Obligations ratably, in such order and manner as Lender shall elect, and Borrower shall continue to be liable for any deficiency.
Application of Deposits. If Seller and Buyer complete the purchase and sale of the Property in accordance with this Agreement, the Initial Deposit (but not including any portion of the Deposit Releases) and the Second Deposit, shall be applied to payment of the Purchase Price for the Property at the Closing.
Application of Deposits. (1) Agent shall be authorized and required to allocate and/or disburse Funds on deposit in the Depository Account of each Shelbourne OP as follows:
Application of Deposits. To the extent that Borrower makes a payment or payments to Lender or Lender receives any payment or proceeds of the Collateral for Borrower's benefit, which payment(s) or proceeds (or any part thereof) are subsequently invalidated,
