Common use of Deposits of Insurance Funds Clause in Contracts

Deposits of Insurance Funds. Subject to the provisions of Section 6.2.3, Borrower shall and shall cause Operating Company to deposit with Agent on each Payment Date an amount equal to one-twelfth of the Insurance Premiums that Agent 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 (the “Monthly Insurance Reserve Deposit”). Amounts deposited pursuant to this Section 6.2.1 are referred to herein as the “Insurance Funds.” If at any time Agent reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Agent shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Agent estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective due dates for payment of such Insurance Premiums; provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the date that any Insurance Premiums are due, Borrower will or, shall cause Operating Company to, deposit such amount within two (2) Business Day after its receipt of such notice. Notwithstanding anything contained herein to the contrary, to the extent that any of the Policies required to be maintained by Borrower are effected under a blanket policy, Borrower shall not be required to make deposits of the Monthly Insurance Funds hereunder.

Deposits of Insurance Funds. Subject to the provisions of Section 6.2.3, Borrower shall and shall cause Operating Company to deposit with Agent Lender (i) an amount reasonably determined by Lender on the Closing Date, and (ii) on each Monthly Payment Date Date, an amount equal to one-twelfth of the Insurance Premiums that Agent 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 Policies, which amounts shall be transferred into an Account established by or on behalf of Lender to hold such funds (the “Monthly "Insurance Reserve Deposit”Account"). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.2.1 6.4.1 are referred to herein as the “"Insurance Funds.” ". If at any time Agent Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Agent Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Agent Lender estimates is sufficient to make up the deficiency by the date that is at least ten thirty (1030) days prior to the respective due dates for payment expiration of such Insurance Premiumsthe Policies; provided provided, that if Borrower receives notice of any deficiency after the date that is ten thirty (1030) days prior to the date that any Insurance Premiums are dueexpiration of the Policies, Borrower will or, shall cause Operating Company to, deposit with or on behalf of Lender such amount within two one (21) Business Day after its receipt of such notice. Notwithstanding anything contained herein to the contrary, to the extent that any of the Policies required to be maintained by Borrower are effected under a blanket policy, Borrower shall not be required to make deposits of the Monthly Insurance Funds hereunder.

Deposits of Insurance Funds. Subject to the provisions of Section 6.2.36.4.3, Borrower shall and shall deposit or cause Operating Company to deposit be deposited with Agent or on behalf of Lender on each Monthly Payment Date Date, an amount equal to one-twelfth of the Insurance Premiums that Agent 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 Policies, which amounts shall be transferred by or at the direction of Lender into an Account established to hold such funds (the “Monthly Insurance Reserve DepositAccount”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.2.1 6.4.1 are referred to herein as the “Insurance Funds.” ”. If at any time Agent time, Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Agent Lender shall notify Borrower in writing of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Agent Lender estimates is sufficient to make up the deficiency at least ten thirty (1030) days prior to expiration of the respective due dates for payment of such Insurance PremiumsPolicies; provided that if Borrower receives written notice of any deficiency after the date that is ten thirty (1030) days prior to expiration of the date that any Insurance Premiums are duePolicies, Borrower will ordeposit with or on behalf of Lender, shall cause Operating Company to, deposit such amount within two (2) Business Day Days after its receipt of such notice. Notwithstanding anything contained herein to the contrary, to the extent that any of the Policies required to be maintained by Borrower are effected under a blanket policy, Borrower shall not be required to make deposits of the Monthly Insurance Funds hereunder.

Deposits of Insurance Funds. Subject to the provisions of Section 6.2.3(a) On each Monthly Payment Date, Borrower shall and shall cause Operating Company to deposit with Agent on each Payment Date Lender an amount equal to one-twelfth (1/12) of the Insurance Premiums (the “Monthly Insurance Deposit”) that Agent Lender estimates will be payable for the renewal of the coverage coverages 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 (the “Monthly Insurance Reserve Deposit”)Policies. Amounts deposited pursuant to this Section 6.2.1 6.3.1 are referred to herein as the “Insurance Funds” and the account in which such amounts are held by Lender shall hereinafter be referred to as the “Insurance Account.” If at any time Agent Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance PremiumsPremiums at least thirty (30) days prior to the expiration of the Policies, Agent Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Agent Lender estimates is sufficient to make up the deficiency at least ten thirty (1030) days prior to expiration of the respective due dates for payment of such Insurance PremiumsPolicies; provided that if Borrower receives notice of any such deficiency after the date that is ten thirty (1030) days prior to expiration of the date that any Insurance Premiums are duePolicies, Borrower will or, shall cause Operating Company to, deposit such amount within two one (21) Business Day after its receipt of such notice. Notwithstanding anything contained herein to the contrary, to the extent that any of the Policies required to be maintained by Borrower are effected under a blanket policy, Borrower shall not be required to make deposits of the Monthly Insurance Funds hereunder.

Deposits of Insurance Funds. Subject If either (a) the liability or casualty Policy maintained by Borrower covering the Property shall not constitute an approved blanket or umbrella policy pursuant to Section 5.1.1(c) hereof, or (b) upon the provisions occurrence of Section 6.2.3a Trigger Event and for so long as a Trigger Period shall continue, Borrower shall and shall cause Operating Company to deposit with Agent or on behalf of Lender, on or before each Monthly Payment Date Date, an amount equal to one-twelfth of the Insurance Premiums that Agent Lender reasonably estimates based on the most recent xxxx 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 on or prior to the earlier of (A) at least thirty (30) days prior to the date on which such payments are due and payable and (B) the expiration of the Policies Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Monthly Insurance Reserve DepositAccount”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.2.1 6.4.1 are referred to herein as the “Insurance Funds.” ”. If at any time Agent Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Agent Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Agent Lender reasonably estimates is sufficient to make up the deficiency at least ten thirty (1030) days prior to expiration of the respective due dates for payment Policies. For the avoidance of such Insurance Premiums; provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the date that any Insurance Premiums are due, Borrower will or, shall cause Operating Company to, deposit such amount within two (2) Business Day after its receipt of such notice. Notwithstanding anything contained herein to the contrarydoubt, to the extent that any of an Individual Property or Properties has been released from the Policies Lien under the Loan Documents in accordance with the terms hereof, the funds required to be maintained deposited into the Insurance Account by Borrower are effected under a blanket policy, Borrower shall not be required to make deposits appropriately reduced for the remainder of the Monthly Insurance Funds hereunderFiscal Year.

Deposits of Insurance Funds. Subject to the provisions of Section 6.2.3, Borrower shall and shall cause Operating Company to deposit with Agent on each Payment Date an amount equal to one-twelfth of the Insurance Premiums that Agent 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 (the “Monthly Insurance Reserve Deposit”). Amounts deposited pursuant to this Section 6.2.1 are referred to herein as the “Insurance Funds.” ”. If at any time Agent reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Agent shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Agent estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective due dates for payment of such Insurance Premiums; provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the date that any Insurance Premiums are due, Borrower will or, shall cause Operating Company to, deposit such amount within two (2) Business Day after its receipt of such notice. Notwithstanding anything contained herein to the contrary, to the extent that any of the Policies required to be maintained by Borrower are effected under a blanket policy, Borrower shall not be required to make deposits of the Monthly Insurance Funds hereunder.

Deposits of Insurance Funds. Subject to the provisions of Section 6.2.3During a Trigger Period, Borrower shall and shall cause Operating Company shall, subject to Section 6.13.1(ii) hereof, deposit with Agent Lender on each Monthly Payment Date Date, equal monthly installments of an amount equal that shall, when added with all other monthly installment amounts to one-twelfth of the be deposited for Insurance Premiums, be sufficient to pay all Insurance Premiums that Agent 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 (30) days prior to the expiration of the Policies Policies, which amounts shall be transferred into an Account established at Deposit Bank to hold such funds (the “Monthly Insurance Reserve DepositAccount”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.2.1 6.4.1 are referred to herein as the “Insurance Funds.” ”. If at any time Agent Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Agent Lender shall notify Borrower in writing of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Agent Lender reasonably estimates is sufficient to make up the deficiency at least ten thirty (1030) days prior to the respective due dates for payment of such Insurance Premiums; provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the date that any Insurance Premiums are due, Borrower will or, shall cause Operating Company to, deposit such amount within two (2) Business Day after its receipt of such notice. Notwithstanding anything contained herein to the contrary, to the extent that any expiration of the Policies required to be maintained by Borrower are effected under a blanket policy, Borrower shall not be required to make deposits of the Monthly Insurance Funds hereunderPolicies.

Deposits of Insurance Funds. Subject to the provisions of Section 6.2.3, Borrower shall and shall cause Operating Company to deposit with Agent Lender (i) an amount reasonably determined by Lender on the Closing Date, and (ii) on each Monthly Payment Date Date, an amount equal to one-twelfth of the Insurance Premiums that Agent 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 Policies, which amounts shall be transferred into an Account established by or on behalf of Lender to hold such funds (the “Monthly Insurance Reserve DepositAccount”). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.2.1 6.4.1 are referred to herein as the “Insurance Funds.” ”. If at any time Agent Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Agent Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Agent Lender estimates is sufficient to make up the deficiency by the date that is at least ten thirty (1030) days prior to the respective due dates for payment expiration of such Insurance Premiumsthe Policies; provided provided, that if Borrower receives notice of any deficiency after the date that is ten thirty (1030) days prior to the date that any Insurance Premiums are dueexpiration of the Policies, Borrower will or, shall cause Operating Company to, deposit with or on behalf of Lender such amount within two one (21) Business Day after its receipt of such notice. Notwithstanding anything contained herein to the contrary, to the extent that any of the Policies required to be maintained by Borrower are effected under a blanket policy, Borrower shall not be required to make deposits of the Monthly Insurance Funds hereunder.