Assessments and Reserves Sample Clauses

Assessments and Reserves. 20 5.14 Title to and Maintenance of Common Areas and Amenities; Other Title Matters..........................20 5.15 Receivables Trusts...................................................................................21 5.16 Year 2000............................................................................................21 5.17 Survival and Additional Representations and Warranties...............................................21
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Assessments and Reserves. (a) CR Cabos, CR Cancun or CR Puerto Vallarta, as appropriate, has authority to levy annual assessments to cover the costs of maintaining and operating the Time-Share Project with respect to the Time-Share Project to which it holds the Trust Use Rights under the corresponding Guaranty Trust; (b) to Borrower's Knowledge, levied assessments will be adequate to cover the current costs of maintaining and operating the Time-Share Project and to establish and maintain a reasonable reserve for capital improvements to the extent and as required under the Operating Agreements and Time-Share Program Consumer Documents; and (c) to Borrower's Knowledge, there will be no events (other than inflation) which could give rise to a material increase in such costs, except for additions of subsequent phases of the Time-Share Project that will not materially increase assessments.
Sample 1
Assessments and Reserves. When a Purchaser closes the purchase of a Time-Share Interest, such Purchaser automatically becomes a member of the Time-Share Association; and will thereafter remain a member of the Time-Share Association and be entitled to vote on the affairs thereof, subject only to retaining ownership of a Time-Share Interest. From and after the Association and Assessment Compliance Date: (a) the Time-Share Association will have authority to levy annual assessments to cover the costs of maintaining and operating the Time-Share Project; (b) to Borrower's Knowledge, the Time-share Association will be solvent; (c) to Borrower's Knowledge, levied assessments will be adequate to cover the current costs of maintaining and operating the Time-Share Project and to establish and maintain a reasonable reserve for capital improvements to the extent and as required under the Time-Share Program Consumer Documents; and (c) to Borrower's Knowledge, there will be no events (other than inflation) which could give rise to a material increase in such costs, except for additions of subsequent phases of the Time-Share Project that will not materially increase assessments.
Sample 1
Assessments and Reserves. (a) The Borrower has authority to levy annual assessments to cover the costs of maintaining and operating the Time-Share Project; (b) to Borrower's Knowledge, levied assessments will be adequate to cover the current costs of maintaining and operating the Time-Share Project and to establish and maintain a reasonable reserve for capital improvements to the extent and as required under the Operating Agreements and Time-Share Program Consumer Documents; and (c) to Borrower's Knowledge, there will be no events (other than inflation) which could give rise to a material increase in such costs, except for additions of subsequent phases of the Time-Share Project that will not materially increase assessments.
Sample 1
Assessments and Reserves. 20 (f) Good and Marketable Title. . . . . . . . . . . . . . . . . . 21 8.5 Collections . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 8.6 Notice of Lender's Interest . . . . . . . . . . . . . . . . . . . 21 8.7
Sample 1
Assessments and Reserves. Each Purchaser is a member of a Project owners' association or associations having authority to levy annual assessments to cover the costs of maintaining and operating the Project. To Borrower's knowledge, each owners' association is solvent; currently levied assessments are adequate to cover such costs and to establish and maintain a reasonable reserve for capital improvements; and there are no events which could give rise to a material increase in such costs. Borrower will use its best efforts to: (i) cause each owner's association to (A) discharge its obligations under the Project governing documents and (B) maintain the reserve described above; and (ii) so long as Borrower controls a Project owners' association, pay to such owners' association not less often than every 12 months hereafter the difference between (A) the cumulative total amount of the maintenance and operating expenses incurred by such association, together with a reasonable reserve for capital improvements and the amount of any installment of real property taxes currently due and payable with respect to the Project and related amenities, through the end of the calendar month preceding the month in which such payment is made and (B) the cumulative total amount of assessments payable to the association by owners other than Borrower through the end of the calendar month preceding the month in which such payment is made.
Sample 1
Assessments and Reserves. Paragraph 5.13 of the Original Loan Agreement shall be amended by amending and restating subsection (a) thereof to read as follows:
Sample 1
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Related to Assessments and Reserves

  • TAXES, ASSESSMENTS AND UTILITIES (A) Lessee shall be liable and agrees to pay the charges for all public utility services rendered or furnished to the Leased Premises, including heat, water, gas, electricity, sewer, sewage treatment facilities and the like, all personal property taxes, real estate taxes, special assessments, and municipal or government charges, general, ordinary and extraordinary, of every kind and nature whatsoever, which may be levied, imposed, or assessed against the Leased Premises, or upon any improvements thereon, at any time after the Occupancy Date of this Lease for the period prior to the expiration of the term hereof, or any Renewal Term, if exercised.

  • Financial Statements and Reports The Company shall furnish to the Secured Party within a reasonable time such financial data as the Secured Party may reasonably request, including, without limitation, the following:

  • REAL ESTATE TAXES, SPECIAL ASSESSMENTS AND PRORATIONS (a) Because the Entire Property (of which the Property is a part) is subject to a triple net lease (as further set forth in paragraph 11(a)(i), the parties acknowledge that there shall be no need for a real estate tax proration. However, Seller represents that to the best of its knowledge, all real estate taxes and installments of special assessments due and payable in all years prior to the year of Closing have been paid in full. Unpaid real estate taxes and unpaid levied and pending special assessments existing on the date of Closing shall be the responsibility of Buyer and Seller in proportion to their respective Tenant in Common interests, pro-rated, however, to the date of closing for the period prior to closing, which shall be the responsibility of Seller if Tenant shall not pay the same. Seller and Buyer shall likewise pay all taxes due and payable in the year after Closing and any unpaid installments of special assessments payable therewith and thereafter, if such unpaid levied and pending special assessments and real estate taxes are not paid by any tenant of the Entire Property.

  • Taxes, Assessments and Liens Grantor will pay when due all taxes, assessments and liens upon the Collateral, its use or operation, upon this Agreement, upon any promissory note or notes evidencing the Indebtedness, or upon any of the other Related Documents. Grantor may withhold any such payment or may elect to contest any lien if Grantor is in good faith conducting an appropriate proceeding to contest the obligation to pay and so long as Lender's interest in the Collateral is not jeopardized in Lender's sole opinion. If the Collateral is subjected to a lien which is not discharged within fifteen (15) days, Grantor shall deposit with Lender cash, a sufficient corporate surety bond or other security satisfactory to Lender in an amount adequate to provide for the discharge of the lien plus any interest, costs, attorneys' fees or other charges that could accrue as a result of foreclosure or sale of the Collateral. In any contest Grantor shall defend itself and Lender and shall satisfy any final adverse judgment before enforcement against the Collateral. Grantor shall name Lender as an additional obligee under any surety bond furnished in the contest proceedings.

  • Payments and Reports 5.1 In consideration of rights granted by BOARD to LICENSEE under this AGREEMENT, LICENSEE will pay BOARD the following:

  • Books, Financial Statements and Reports Each Restricted Person will at all times maintain full and accurate books of account and records. Borrower will maintain and will cause its Subsidiaries to maintain a standard system of accounting, will maintain its Fiscal Year, and will furnish the following statements and reports to each Lender Party at Borrower’s expense:

  • Real Estate Taxes and Assessments Subject to Section 4(c) below, Tenant shall pay all Real Estate Taxes (as hereinafter defined) levied, assessed, accruing, or imposed from and after the Commencement Date, which shall become due and payable during the Term with respect to the Property. If any such Real Estate Taxes may, at the option of the taxpayer, be paid in installments, Tenant may exercise the option to pay the same in installments; provided Tenant pays all costs and charges related to such installment payment method. All Real Estate Taxes that shall be assessed with respect to a taxable year or period beginning on or before and ending after the Commencement Date or beginning on or before and ending after the Termination Date shall be apportioned pro rata between Landlord and Tenant on a per diem basis in accordance with the respective number of days in such taxable year or period during which this Lease is in effect. “Real Estate Taxes” shall mean the ad valorem real estate taxes levied against the Property (and the improvements and fixtures located thereon), betterment assessments, special benefit taxes and special assessments levied or imposed against the Property, taxes levied or assessed on gross rentals payable by Tenant to the extent charged, assessed or imposed upon tenants in general which are based upon the rents payable under this Lease, any impact fees levied or assessed, whether or not billed by the taxing authority as a special benefit tax or a special assessment, all taxes levied or assessed on the Property that are in addition to or in lieu of taxes that are currently so assessed, and penalties and interest related to Real Estate Taxes if the applicable Real Estate Tax bills have been forwarded to Tenant in a timely manner; provided, however, that Real Estate Taxes shall not include any Excluded Taxes. “Excluded Taxes” shall mean, without limitation, Landlord’s income taxes, gift taxes, excess profit taxes, excise taxes, franchise taxes, estate, succession, inheritance and realty transfer taxes resulting from the transfer of any direct or indirect interest in the Property by Landlord unless such taxes replace Real Estate Taxes in the future (except as expressly set forth in the last sentence of this Section 4(a)), and any interest or penalty charges resulting solely from Landlord’s failure to promptly deliver the Real Estate Tax bills to Tenant if the applicable taxing authority has forwarded the tax xxxx to Landlord rather than Tenant. All special benefit taxes and special assessments shall be amortized over the longest time permitted under ordinance and Tenant’s liability for installments of such special benefit taxes and special assessments not yet due shall be paid in full prior to the expiration or termination of this Lease; provided, that the useful life of any such improvements do not extend beyond the expiration of the Term. Tenant shall also pay, directly to the applicable Governmental Authority (as hereinafter defined), any storm water charges, fees and taxes and use and occupancy tax in connection with the Property or any improvements thereon (or in the event Landlord is required by law to collect such tax, Tenant shall pay such use and occupancy tax to Landlord as Rent within thirty (30) days of written demand and Landlord shall remit any amounts so paid to Landlord to the appropriate Governmental Authority in a timely fashion) and deliver evidence of such payment to Tenant within ten (10) days of making such payment or within ten (10) days of receipt of Tenant’s request for such evidence of payment.

  • Payments and Records 4.1 Payment 4.2 Mode of Payment 4.3 Taxes 4.4 Records Retention 4.5 Audit Request

  • Shareholders Statements and Reports Promptly upon the furnishing thereof to the shareholders of such Seller Party copies of all financial statements, reports and proxy statements so furnished.

  • Accounting Records and Reports 1.3.1 In accordance with the provisions of Article ‎16.1 of the Contract, the Contractor shall maintain in its office in Equatorial Guinea original, complete, true and correct accounts, books and records of the Production and disposition of Hydrocarbons, and all costs and expenses under the Contract, as well as all other records and data necessary or proper for the settlement of accounts in accordance with the laws of Equatorial Guinea, generally accepted accounting procedures and generally accepted practice in the international petroleum industry and pursuant to the chart of accounts agreed pursuant to Article ‎1.3.2 below.

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