Collection of Escrows for Impositions and Replacement Reserves. (i) For so long as the same person or entity is both Senior Lender and Supplemental Lender, monthly payments made by Borrower under the Senior Instrument from and after the effective date of this Supplemental Instrument as deposits for the payment of any Impositions shall be credited to the monthly deposits for the payment of such Impositions under this Supplemental Instrument. (ii) For so long as the same person or entity is both Senior Lender and Supplemental Lender, monthly payments made by Borrower from and after the effective date of this Supplemental Instrument pursuant to the Replacement Reserve Agreement executed in connection with the Senior Note ("Senior Replacement Reserve Agreement") shall be credited to the monthly amounts due by Borrower in connection with the Replacement Reserve Agreement executed in connection with the Supplemental Indebtedness ("Supplemental Replacement Reserve Agreement").
Appears in 8 contracts
Samples: Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Consolidated Capital Institutional Properties 3), Multifamily Deed of Trust, Assignment of Rents and Security Agreement and Fixture Filing (Century Properties Fund Xvii), Multifamily Deed of Trust, Assignment of Rents and Security Agreement (Shelter Properties v Limited Partnership)
Collection of Escrows for Impositions and Replacement Reserves. (i) For so long as the same person or entity is both Senior Lender and Supplemental Lender, monthly payments made by Borrower under the Senior Instrument from and after the effective date of this Supplemental Instrument as deposits for the payment of any Impositions shall be credited to the monthly deposits for the payment of such Impositions under this Supplemental Instrument.
(ii) For so long as the same person or entity is both Senior Lender and Supplemental Lender, monthly payments made by Borrower from and after the effective date of this Supplemental Instrument pursuant to the Replacement Reserve Agreement executed in connection with the Senior Note ("“Senior Replacement Reserve Agreement"”) shall be credited to the monthly amounts due by Borrower in connection with the Replacement Reserve Agreement executed in connection with the Supplemental Indebtedness ("“Supplemental Replacement Reserve Agreement"”).
Appears in 1 contract
Samples: Assumption Agreement (Behringer Harvard Multifamily Reit I Inc)
