Common use of Deposits of Insurance Funds Clause in Contracts

Deposits of Insurance Funds. On the Closing Date, Borrower shall deposit with Lender the amount of One Hundred Seventy-Eight Thousand Two Hundred Eighty-Nine and No/100 Dollars ($178,289.00) and there shall be deposited to the Insurance Account established under the Cash Management Agreement on each Monthly Payment Date an amount equal to one-twelfth of the Insurance Premiums that Lender estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof in order to accumulate sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the expiration of the Policies. Amounts deposited pursuant to this Section 6.3.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. Lender shall cause the Insurance Funds to be deposited with Agent for credit to the “Insurance Account” established under the Cash Management Agreement within five (5) Business Days following the Closing Date.

Deposits of Insurance Funds. On the Closing Date, Borrower Borrowers shall deposit with Lender (i) the amount of One Hundred Seventy-Eight Thousand Two Hundred EightyTwenty-Nine Thousand Eight Hundred Twenty-Seven and No/100 75/100 Dollars ($178,289.00129,827.75) on the Closing Date, and there shall be deposited to the Insurance Account established under the Cash Management Agreement (ii) on each Monthly Payment Date Date, an amount equal to one-twelfth (1/12th) of the Insurance Premiums that Lender estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof thereof, in order to accumulate sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the expiration of the Policies, which amounts shall be transferred into an Account established at the Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.3.1 6.4.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower Borrowers of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. Lender shall cause the Insurance Funds to be deposited with Agent for credit to the “Insurance Account” established under the Cash Management Agreement within five (5) Business Days following the Closing Date.

Deposits of Insurance Funds. On During the Closing Datecontinuance of a Trigger Period, Borrower shall shall, subject to Sections 6.9.2, 6.4.3, and 6.4.4 hereof, deposit with Lender the amount of One Hundred Seventy-Eight Thousand Two Hundred Eighty-Nine and No/100 Dollars ($178,289.00) and there shall be deposited to the Insurance Account established under the Cash Management Agreement on each Monthly Payment Date Date, an amount equal to one-twelfth (1/12th) of the Insurance Premiums that Lender reasonably estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof thereof, in order to accumulate sufficient funds to pay all such 91 Insurance Premiums at least thirty ten (3010) days prior to the expiration of the Policies, which amounts shall be transferred into an Account established to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.3.1 6.4.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance PremiumsPremiums (taking into account the monthly deposits of Insurance Funds to be made above), Lender shall notify Borrower of such determination and the succeeding monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to expiration of the Policies. Lender shall cause the Insurance Funds to be deposited with Agent for credit to the “Insurance Account” established under the Cash Management Agreement within five (5) Business Days following the Closing Date.

Deposits of Insurance Funds. On During the Closing Datecontinuance of a Trigger Period, Borrower shall shall, subject to Sections 6.4.3, and 6.4.4 hereof, deposit with Lender the amount of One Hundred Seventy-Eight Thousand Two Hundred Eighty-Nine and No/100 Dollars ($178,289.00) and there shall be deposited to the Insurance Account established under the Cash Management Agreement on each Monthly Payment Date Date, an amount equal to one-twelfth (1/12th) of the Insurance Premiums that Lender reasonably estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof thereof, in order to accumulate sufficient funds to pay all such Insurance Premiums at least thirty ten (3010) days prior to the expiration of the Policies, which amounts shall be transferred into an Account established to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.3.1 6.4.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance PremiumsPremiums (taking into account the monthly deposits of Insurance Funds to be made above), Lender shall notify Borrower of such determination and the succeeding monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to expiration of the Policies. Lender shall cause the Insurance Funds to be deposited with Agent for credit to the “Insurance Account” established under the Cash Management Agreement within five (5) Business Days following the Closing Date.

Deposits of Insurance Funds. On the Closing Date, Borrower Borrowers shall deposit with Lender (i) the amount of One Hundred SeventyForty-Eight Thousand Two Seven Hundred EightyFifty-Nine One and No/100 50/100 Dollars ($178,289.00148,751.50) on the Closing Date, and there shall be deposited to the Insurance Account established under the Cash Management Agreement (ii) on each Monthly Payment Date Date, an amount equal to one-twelfth (1/12th) of the Insurance Premiums that Lender estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof thereof, in order to accumulate sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the expiration of the Policies, which amounts shall be transferred into an Account established at the Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.3.1 6.4.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower Borrowers of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. Lender shall cause the Insurance Funds to be deposited with Agent for credit to the “Insurance Account” established under the Cash Management Agreement within five (5) Business Days following the Closing Date.

Deposits of Insurance Funds. On Borrower shall deposit with or on behalf of Lender (i) on the Closing Date, Borrower shall deposit with Lender the an amount of One Hundred Seventy-Eight Thousand Two Hundred Eighty-Nine equal to $297,713.03 and No/100 Dollars ($178,289.00ii) and there shall be deposited to the Insurance Account established under the Cash Management Agreement on each Monthly Payment Date Date, an amount equal to one-twelfth of the Insurance Premiums for the Property that Lender reasonably estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof (initially $80,285.93), in order to accumulate sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the expiration of the Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.3.1 6.4.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance PremiumsPremiums for the Property, Lender shall notify Borrower of such determination determination, accompanied by reasonable evidence thereof, and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. Lender shall cause the Insurance Funds to be deposited with Agent for credit to the “Insurance Account” established under the Cash Management Agreement within five (5) Business Days following the Closing Date.

Deposits of Insurance Funds. On the Closing Date, Borrower shall deposit with Lender Agent the amount of One Million Eight Hundred Seventy-Eight Seventy Thousand Two Hundred Eighty-Nine Forty Seven and No/100 50/100 Dollars ($178,289.001,870,247.50) and and, pursuant to the Cash Management Agreement, there shall be deposited to the Insurance Account established under the Cash Management Agreement on each Monthly Payment Date an amount equal to one-twelfth of the Insurance Premiums that Lender Borrower estimates it will be payable required to pay, as reflected in the Annual Budget of Borrower pertaining to the applicable Fiscal Year, for the renewal of the coverage afforded by the Policies upon the expiration thereof in order to accumulate sufficient funds to pay all such Insurance Premiums at least thirty ten (3010) days prior to the expiration of the Policies. Amounts deposited pursuant to this Section 6.3.1 are referred to herein as the “"Insurance Funds”". If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. Lender shall cause the Insurance Funds to be deposited with Agent for credit to the “Insurance Account” established under the Cash Management Agreement within five (5) Business Days following the Closing Date.

Deposits of Insurance Funds. On During the Closing Datecontinuance of a Trigger Period, Borrower shall shall, subject to Sections 6.10.2, 6.4.3, and 6.4.4 hereof, deposit with Lender the amount of One Hundred Seventy-Eight Thousand Two Hundred Eighty-Nine and No/100 Dollars ($178,289.00) and there shall be deposited to the Insurance Account established under the Cash Management Agreement on each Monthly Payment Date Date, an amount equal to one-twelfth (1/12th) of the Insurance Premiums that Lender reasonably estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof thereof, in order to accumulate sufficient funds to pay all such Insurance Premiums at least thirty ten (3010) days prior to the expiration of the Policies, which amounts shall be transferred into an Account established to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.3.1 6.4.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance PremiumsPremiums (taking into account the monthly deposits of Insurance Funds to be made above), Lender shall notify Borrower of such determination and the succeeding monthly deposits for Insurance Premiums shall be increased by the amount that Lender reasonably estimates is sufficient to make up the deficiency at least thirty ten (3010) days prior to expiration of the Policies. Lender shall cause the Insurance Funds to be deposited with Agent for credit to the “Insurance Account” established under the Cash Management Agreement within five (5) Business Days following the Closing Date.

Deposits of Insurance Funds. On the Closing Date, Borrower Borrowers shall deposit with Lender (i) the amount of One Hundred Seventy-Eight Thousand Two Hundred EightyTwenty-Nine Thousand Eight Hundred Twenty-Seven and No/100 75/100 Dollars ($178,289.00129,827.75) on the Closing Date, and there shall be deposited to the Insurance Account established under the Cash Management Agreement (ii) on each Monthly Payment Date Date, an amount Pool 2 equal to one-twelfth (1/12th) of the Insurance Premiums that Lender estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof thereof, in order to accumulate sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the expiration of the Policies, which amounts shall be transferred into an Account established at the Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.3.1 6.4.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower Borrowers of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. Lender shall cause the Insurance Funds to be deposited with Agent for credit to the “Insurance Account” established under the Cash Management Agreement within five (5) Business Days following the Closing Date.

Deposits of Insurance Funds. On the Closing Date, Borrower Borrowers shall deposit with Lender (i) the amount of One Hundred SeventyForty-Eight Thousand Two Seven Hundred EightyFifty-Nine One and No/100 50/100 Dollars ($178,289.00148,751.50) on the Closing Date, and there shall be deposited to the Insurance Account established under the Cash Management Agreement (ii) on each Monthly Payment Date Date, an amount equal to Pool 1 one-twelfth (1/12th) of the Insurance Premiums that Lender estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof thereof, in order to accumulate sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the expiration of the Policies, which amounts shall be transferred into an Account established at the Deposit Bank to hold such funds (the “Insurance Account”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.3.1 6.4.1 are referred to herein as the “Insurance Funds”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower Borrowers of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. Lender shall cause the Insurance Funds to be deposited with Agent for credit to the “Insurance Account” established under the Cash Management Agreement within five (5) Business Days following the Closing Date.

Deposits of Insurance Funds. On the Closing Date, Borrower shall deposit with Lender the amount of One Hundred Seventy-Eight Thousand Two Hundred Eighty-Nine and No/100 ONE HUNDRED SEVENTY SEVEN THOUSAND ONE HUNDRED SIXTY TWO AND NO/100 Dollars ($178,289.00177,162) and there shall be deposited to the Insurance Account established under the Cash Management Agreement and, on each Monthly Payment Date Borrower shall deposit with Lender an amount equal to one-twelfth of the Insurance Premiums that Lender estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof in order to accumulate sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the expiration of the Policies. Amounts deposited pursuant to this Section 6.3.1 are referred to herein as the “Insurance Funds” and the account in which such amounts are held shall hereinafter be referred to as Borrower’s “Insurance Account”. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. Lender shall cause the Insurance Funds to be deposited with Agent for credit to the “Insurance Account” established under the Cash Management Agreement within five (5) Business Days following the Closing Date.