Deposit and Allocation of Funds After the Closing Date Sample Clauses

Deposit and Allocation of Funds After the Closing Date. (a) To the extent funds are available in the Sub-Accounts for reallocation in accordance with, and after giving effect to, the provisions of this Section 8, the failure of any such reallocation to be made in accordance with this Section 8 shall not give rise to an Event of Default (unless such failure is due to the actions or omissions of the Borrower, its affiliates or agents). Notwithstanding the foregoing or any other provision of this Section 8, the accuracy or inaccuracy of any statement of account in respect of the Sub-Accounts shall not affect the obligations of the Borrower to pay all amounts due in respect of the Obligations on the due dates therefor. Borrower shall pay all Gross Income from Operations or any other funds it elects to deposit directly to the Cash Collateral Account, which amounts shall be deposited on a daily -52- 58 basis between the first day of each month and the tenth day of each month and otherwise no less frequently than two times each week. To the extent that sufficient funds are available in the Cash Collateral Account, Lender shall direct the Bank to further allocate the Gross Income from Operations so deposited as follows: First, to the Debt Service Sub-Account in an amount sufficient to cause the balance therein to equal the Monthly Debt Service Payment Amount due in respect of the Loan on the next scheduled Payment Date; Second, to the Basic Carrying Costs Sub-Account in amounts sufficient to cause the balance therein to equal the sum of (i) all year-to-date Basic Carrying Cost Monthly Installments relating to the relevant year or other payment period (less amounts actually expended for such year or other relevant payment period in respect of such Basic Carrying Costs), and (ii) the projected Basic Carrying Costs Monthly Installments of the Real Property Asset for the next ensuing month; Third, to the Replacement Reserve Sub-Account in an amount sufficient to cause the balance therein to equal the sum of (i) all unexpended Replacement Reserve Monthly Installments attributable to the Real Property Asset through the then current month, and (ii) the respective Replacement Reserve Monthly Installments for the next ensuing month; and Fourth, the balance of such Gross Income from Operations shall be deposited in the Distribution Account, subject to the provisions of Section 8.8. Lender may, in its sole discretion, direct the Bank to reallocate the Account Collateral from time to time, if Lender shall determine that insufficie...
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Related to Deposit and Allocation of Funds After the Closing Date

  • Investment of Funds in the Collection Account and the Distribution Account (a) The Master Servicer may direct any depository institution maintaining the Collection Account (for purposes of this Section 3.12, an "Investment Account"), and the Trustee, in its individual capacity, may direct any depository institution maintaining the Distribution Account (for purposes of this Section 3.12, also an "Investment Account"), to invest the funds in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee is the obligor thereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trustee (in its capacity as such) or in the name of a nominee of the Trustee. The Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trustee shall:

  • Conditions to All Credit Extensions after the Closing Date Following the Closing Date, the obligation of each Lender to honor any Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Loans to the other Type, or a continuation of Eurodollar Rate Loans) is subject to the following conditions precedent:

  • Collections and Allocations (a) The Borrower or the Servicer on behalf of the Borrower shall promptly (but in no event later than two (2) Business Days after the receipt thereof) identify any Collections received by it as being on account of Interest Collections or Principal Collections and deposit all such Interest Collections or Principal Collections received directly by it into the Collection Account. The Servicer on behalf of the Borrower shall make such deposits or payments on the date indicated by wire transfer, in immediately available funds.

  • Permitted Withdrawals from the Certificate Account and the Distribution Account (a) The Master Servicer may (and, in the case of clause (ix) below, shall) from time to time make withdrawals from the Certificate Account for the following purposes but only to the extent of amounts related to the Combined Mortgage Loans or the Group 5 Mortgage Loans, as applicable to the particular withdrawal:

  • Investment of Funds in the Collection Account The Servicer may direct any depository institution which holds the Collection Account to invest the funds in the Collection Account in one or more Permitted Investments bearing interest. All such Permitted Investments shall be held to maturity, unless payable on demand. In the event amounts on deposit in the Collection Account are at any time invested in a Permitted Investment payable on demand, the Servicer shall:

  • Allocation and Application of Collections Any provisions of Article 4 of the Base Indenture and the Series 2000-1 Supplement which allocate and apply Collections shall continue to apply irrespective of the issuance of the Series 1998-1 Notes. Sections 4.1 through 4.5 of the Base Indenture shall be read in their entirety as provided in the Base Indenture, provided that for purposes of the Series 1998-1 Notes, clauses (c), (d) and (e) of Section 4.2 of the Base Indenture shall be modified as permitted by Section 11.1(f) of the Base Indenture and shall read as follows:

  • Ratable Allocation of Proceeds a. If more than one of the parties sustains a single loss (including a loss sustained before the date hereof) for which recovery is received under the Bond, each such party shall receive that portion of the recovery which is sufficient in amount to indemnify that party in full for the loss sustained by it, unless the recovery is inadequate to fully indemnify all such parties sustaining a single loss.

  • Application of Funds in the Collection Account The Master Servicer may, from time to time, make, or cause to be made, withdrawals from the Collection Account for the following purposes:

  • Investment of Amounts in Special Payments Account Any amounts on deposit in the Special Payments Account prior to the distribution thereof pursuant to Section 2.4(b) or (c) shall be invested in accordance with Section 2.2(b). Investment Earnings on such investments shall be distributed in accordance with Section 2.4(b) or (c), as the case may be.

  • Payments to the Liquidity Provider Under the Intercreditor Agreement In order to provide for payment or repayment to the Liquidity Provider of any amounts hereunder, the Intercreditor Agreement provides that amounts available and referred to in Articles II and III of the Intercreditor Agreement, to the extent payable to the Liquidity Provider pursuant to the terms of the Intercreditor Agreement (including, without limitation, Section 3.6(f) of the Intercreditor Agreement), shall be paid to the Liquidity Provider in accordance with the terms thereof. Amounts so paid to the Liquidity Provider shall be applied by the Liquidity Provider to Liquidity Obligations then due and payable in accordance with the Intercreditor Agreement or, if not provided for in the Intercreditor Agreement, then in such manner as the Liquidity Provider shall deem appropriate.

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