Common use of Deposit for Premiums Clause in Contracts

Deposit for Premiums. From and after the occurrence of a Default or an Event of Default, and at such times as a Triggering Event Condition (as defined in the Cash Collateral Agreement is otherwise continuing, with each monthly payment under the Note, Grantor will deposit an amount equal to 1/12th of the amount which Beneficiary estimates will be required to pay the next required annual premium for each insurance policy referred to in this Section. The purpose of these provisions is to provide Beneficiary with sufficient funds on hand, no later than thirty (30) days before the date on which the payment of such premiums will become due, so as to permit Beneficiary to pay all such premiums when due. If the Beneficiary, in its sole discretion, determines that the funds escrowed hereunder are, or will be, insufficient, Grantor shall upon demand pay such additional sums as Beneficiary shall determine necessary and shall pay any increased monthly charges requested by Beneficiary. Provided no Default or Event of Default exists hereunder, Beneficiary will apply the amounts so deposited to the payment of such insurance premiums when due, but in no event will Beneficiary be liable for any interest on any amounts so deposited, and the money so received may be held and commingled with Beneficiary’s own funds.

Deposit for Premiums. From and after Upon demand made by Beneficiary following the occurrence of a Default or an Event of Default. Trustor shall deposit with Beneficiary an amount equal to 1/12th of the amount which Beneficiary estimates will be required to make the next annual payments of the premiums for the policies of insurance referred to in this Section, multiplied by the number of whole and at partial months which have elapsed since the date one month prior to the most recent policy anniversary date for each such times as a Triggering Event Condition (as defined in the Cash Collateral Agreement is otherwise continuingpolicy. Thereafter, with each monthly payment under the Note, Grantor Trustor will deposit an amount equal to 1/12th l/12th of the amount which Beneficiary estimates will be required to pay the next required annual premium for each insurance policy referred to in this Section. The purpose of these provisions is to provide Beneficiary with sufficient funds on hand, no later than hand to pay all such premiums thirty (30) days before the date on which the payment of such premiums will they become due, so as to permit Beneficiary to pay all such premiums when past due. If the Beneficiary, in its sole discretion, determines that the funds escrowed hereunder are, or will be, . insufficient, Grantor . Trustor shall upon demand pay such additional sums as Beneficiary shall determine necessary and shall pay any increased monthly charges requested by Beneficiary. Provided no Default or Event of Default exists hereunder, Beneficiary will apply the amounts so deposited to the payment of such insurance premiums when due, but in no event will Beneficiary be liable for any interest on any amounts so deposited, and the money so received may be held and commingled with Beneficiary’s own funds.

Deposit for Premiums. From If required by Beneficiary, concurrently with the delivery of this Deed of Trust, Trustor has deposited with Beneficiary an amount equal to 1/12th of the amount which Beneficiary estimates will be required to make the next annual payments of the premium for the policies of insurance referred to in this section, multiplied by the number of whole and after partial months which have elapsed since the occurrence of a Default or an Event of Default, and at most recent policy anniversary date for each such times as a Triggering Event Condition policy (as defined in the Cash Collateral Agreement is otherwise continuing, with "Insurance Premium"). With each monthly payment under the Note, Grantor Trustor will deposit an amount equal to 1/12th of the amount which Beneficiary estimates will be required to pay the next required annual premium for each insurance policy referred to in this Sectionsection. The purpose of these provisions is to provide Beneficiary with sufficient funds on hand, no later than hand to pay all such Insurance Premiums thirty (30) days before the date on which the payment they become past due. Trustor shall, within ten (10) days after receipt of demand therefor, deposit such premiums will become due, so additional funds as are necessary to permit Beneficiary make up any deficiencies in amounts necessary to pay all such premiums Insurance Premiums when due. If the Beneficiary, in its sole discretion, determines that the funds escrowed hereunder are, or will be, insufficient, Grantor shall upon demand pay such additional sums as Beneficiary shall determine necessary and shall pay any increased monthly charges requested by Beneficiary. Provided no Default or Event of Default default exists hereunder, Beneficiary will apply the amounts so deposited to the payment of such insurance premiums Insurance Premiums when due, but in no event will Beneficiary be liable for any interest on any amounts amount so deposited, and the money so received may be held and commingled with Beneficiary’s 's own funds.

Deposit for Premiums. From On or before the date hereof, Trustor shall deposit with Beneficiary an amount equal to 1/12th of the amount which Beneficiary estimates will be required to make the next annual payments of the premiums for the policies of insurance referred to in this Section (the “Insurance Reserves”), multiplied by the number of whole and after partial months which have elapsed since the occurrence of a Default or an Event of Default, and at date one month prior to the most recent policy anniversary date for each such times as a Triggering Event Condition (as defined in the Cash Collateral Agreement is otherwise continuingpolicy. Thereafter, with each monthly payment under the Note, Grantor Trustor will deposit an amount equal to 1/12th of the amount which Beneficiary estimates will be required to pay the next required annual premium for each insurance policy referred to in this Section. The purpose of these provisions is to provide Beneficiary with sufficient funds on hand, no later than hand to pay all such premiums thirty (30) days before the date on which the payment of such premiums will they become due, so as to permit Beneficiary to pay all such premiums when past due. If the Beneficiary, in its sole discretion, determines that the funds escrowed reserved hereunder are, or will be, insufficient, Grantor Trustor shall upon demand pay such additional sums as Beneficiary shall determine necessary and shall pay any increased monthly charges requested by Beneficiary. Provided no Default or Event of Default exists hereunder, Beneficiary will apply the amounts so deposited to the payment of such insurance premiums when due, but in no event will Beneficiary be liable for any interest on any amounts so deposited, and the money so received may be held and commingled with Beneficiary’s own funds. Notwithstanding anything to the contrary in this Section 4.5(c), the initial Trustor named herein shall only be required to deposit Insurance Reserves with Beneficiary following the occurrence and during the continuance of any Event of Default.

Deposit for Premiums. From and Within ten (10) days after written demand made by Lender after the occurrence of a Default or an any Event of Default, Borrower shall deposit with Lender an amount equal to 1/12th of the amount which Lender estimates will be required to make the next annual payments of the premiums for the policies of insurance referred to in this Section, multiplied by the number of whole and at partial months which have elapsed since the date one month prior to the most recent policy anniversary date for each such times as a Triggering Event Condition (as defined in the Cash Collateral Agreement is otherwise continuingpolicy. Thereafter, with each monthly payment under the Note, Grantor Borrower will deposit an amount equal to 1/12th of the amount which Beneficiary Lender estimates will be required to pay the next required annual premium for each insurance policy referred to in this Section. The purpose of these provisions is to provide Beneficiary Lender with sufficient funds on hand, no later than hand to pay all such premiums thirty (30) days before the date on which the payment of such premiums will they become due, so as to permit Beneficiary to pay all such premiums when past due. If the BeneficiaryLender, in its sole discretion, determines that the funds escrowed impounded hereunder are, or will be, insufficient, Grantor Borrower shall upon demand pay such additional sums as Beneficiary Lender shall determine necessary and shall pay any increased monthly charges requested by BeneficiaryLender. Provided no Default or Event of Default exists hereunder, Beneficiary Lender will apply the amounts so deposited to the payment of such insurance premiums when due, but in no event will Beneficiary Lender be liable for any interest on any amounts so deposited, and the money so received may be held and commingled with BeneficiaryLender’s own funds.