Debt Service Reserve Funds. (a) On the Closing Date, Borrower shall deposit with Lender an amount equal to $11,797,746.00 (the “Debt Service Reserve Deposit”), which is the amount of Debt Service Shortfalls projected by Lender through the end of calendar year 2009 and which shall be held and disbursed by Lender in accordance with the applicable provisions of this Section 7.4. Amounts so deposited hereunder shall hereinafter be referred to as the “Debt Service Reserve Funds”.
Appears in 2 contracts
Samples: Mezzanine a Loan Agreement (Archstone Smith Operating Trust), Mezzanine B Loan Agreement (Archstone Smith Operating Trust)
Debt Service Reserve Funds. (a) On the Closing Date, Borrower shall deposit with Lender an amount equal to $11,797,746.00 [ ] (the “Debt Service Reserve Deposit”), which is the amount of Debt Service Shortfalls projected by Lender through the end of calendar year 2009 and which shall be held and disbursed by Lender in accordance with the applicable provisions of this Section 7.47.5. Amounts so deposited hereunder shall hereinafter be referred to as the “Debt Service Reserve Funds”.
Appears in 2 contracts
Samples: Mezzanine B Loan Agreement (Archstone Smith Operating Trust), Mezzanine a Loan Agreement (Archstone Smith Operating Trust)
