Common use of Capital Additions Reserve Clause in Contracts

Capital Additions Reserve. Upon Landlord's written request, or if Tenant deposits any funds in accordance with Paragraph 25(d), or if otherwise required by any Facility Mortgagee, Tenant shall establish a reserve fund for the Minimum Capital Additions Amount (the "Capital Additions Reserve"), which reserve fund shall be held in Landlord's name or in the name of the Facility Mortgagee, if applicable, in an escrow account with a financial institution designated by Landlord or by the Facility Mortgagee, if applicable. If the Capital Additions Reserve is established, Tenant shall deposit therein one-twelfth (1/12th) of the Minimum Capital Additions Amount each month. All moneys deposited into the Capital Additions Reserve shall be maintained for the payment of, or reimbursement to Tenant for, Capital Additions Costs (other than with respect to Landlord Capital Additions). Tenant shall convey, pledge and grant to Landlord or the Facility Mortgagee, as applicable, a security interest in the Capital Additions Reserve in order to secure Tenant's obligations to pay Rent and other charges under this Lease. Tenant shall cooperate with Landlord and the Facility Mortgagee, if applicable, in connection with perfecting any such security interest.

Capital Additions Reserve. Upon Landlord's written request, or if Tenant deposits any funds in accordance with Paragraph 25(d), request or if otherwise required by any Facility Mortgagee, Tenant shall establish a reserve fund for the Minimum Capital Additions Amount (the "Capital Additions Reserve"), which reserve fund shall be held in Landlord's name or in the name of the Facility Mortgagee, if applicable, in an escrow account with a financial institution designated by Landlord or by the Facility Mortgagee, if applicable. If the Capital Additions Reserve is established, Tenant shall deposit therein one-twelfth (1/12th) of the Minimum Capital Additions Amount each month. All moneys deposited into the Capital Additions Reserve shall be maintained for the payment of, or reimbursement to Tenant for, Capital Additions Costs (other than with respect to Landlord Capital Additions). Tenant shall convey, pledge and grant to Landlord or the Facility Mortgagee, as applicable, a security interest in the Capital Additions Reserve in order to secure Tenant's obligations to pay Rent and other charges under this Lease. Tenant shall cooperate with Landlord and the Facility Mortgagee, if applicable, in connection with perfecting any such security interest.