Common use of APPLICATION OF ROLLOVER RESERVE FUND Clause in Contracts

APPLICATION OF ROLLOVER RESERVE FUND. Upon the occurrence of an Event of Default, Lender may apply any sums then present in the Rollover Reserve Fund and/or to the payment of the following items in any order in its sole discretion: (a) Approved Leasing Expenses; (b) interest on the unpaid principal balance of the Note; (c) amortization of the unpaid principal balance of the Note; or (d) all other sums payable pursuant to this Agreement and the other Loan Documents. The Rollover Reserve Fund shall not constitute a trust fund and may be commingled with other monies held by Lender. Sums in the Rollover Reserve Fund shall be held by Lender in the Deposit Account and shall be invested in Permitted Investments. Earnings or interest, if any, thereon shall be retained as part of such funds and applied in accordance with this Section 7.5.4 Lender shall not be liable for any loss sustained on the investment of any funds constituting the Rollover Reserve Fund.

APPLICATION OF ROLLOVER RESERVE FUND. Upon the occurrence and during the continuance of an Event of Default, Lender may apply any sums then present in the Rollover Reserve Fund and/or to the payment of the following items in any order in its sole discretion: (a) Approved Leasing Expenses; (b) interest on the unpaid principal balance of the Note; (c) amortization of the unpaid principal balance of the Note; or (d) all other sums payable pursuant to this Agreement and the other Loan Documents. The Rollover Reserve Fund shall not constitute a trust fund and may be commingled with other monies held by Lender. Sums in the Rollover Reserve Fund shall be held by Lender or Servicer in the Deposit Account an account in Lender's or Servicer's name at a financial institution selected by Lender in its sole discretion and shall be invested in Permitted Investments. Earnings or interest, if any, thereon shall be retained as part of such funds and applied in accordance with this Section 7.5.4 7.5. Lender shall not be liable for any loss sustained on the investment of any funds constituting the Rollover Reserve Fund.