Common use of Deposit of Impositions Clause in Contracts

Deposit of Impositions. After the occurrence and during the continuance of an Event of Default, Tenant, upon the demand of the FCRHA at any time, shall deposit with Depository on the first day of each month during the Term, an amount equal to one-twelfth (1/12th) of the annual Impositions for Taxes and those other Impositions required to be escrowed pursuant to Section 5.01(a). Except as set forth in Section 5.05 below, the FCRHA agrees that the amounts so deposited with the Depository shall be used to pay the Impositions for which such amounts were deposited. The Impositions Account may be held by Depository as a single bank account.

Appears in 7 contracts

Samples: www.fairfaxcounty.gov, www.fairfaxcounty.gov, www.fairfaxcounty.gov

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