Common use of Deposits of Insurance Funds Clause in Contracts

Deposits of Insurance Funds. On the date hereof, Borrower has deposited or caused to be deposited with or on behalf of Lender the sum of $20,235.75 for transfer to the Insurance Account. Commencing on the Monthly Payment Date occurring in June 2013 and on each Monthly Payment Date thereafter, 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. All amounts deposited with Lender by or on behalf of Borrower under this Section 6.4.1 shall be transferred by or at the direction of Lender 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 6.4.1 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 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; provided that if Borrower receives notice of any deficiency after the date that is thirty (30) days prior to expiration of the Policies, Borrower will deposit with or on behalf of Lender, such amount within one (1) Business Day after its receipt of such notice.

Deposits of Insurance Funds. (a) On the date hereof, Borrower has deposited or caused to be deposited with or on behalf of Lender the sum of $20,235.75 for transfer to the Insurance Account. Commencing on the Monthly Payment Date occurring in June 2013 and on each Monthly Payment Date thereafterClosing Date, Borrower shall deposit with Lender the amount of $0.00, and there shall be deposited on each Monthly Payment Date an amount equal to one-twelfth of the Insurance Premiums that Lender estimates will be payable for for (a) 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. All amounts deposited with Lender by or on behalf of Borrower under this Section 6.4.1 shall be transferred by or at the direction of Lender 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 6.4.1 6.3.1 are referred to herein as the “"Insurance Funds”. ." If at any time, 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; provided that if Borrower receives notice of any deficiency after . (b) Notwithstanding the date that is thirty (30) days prior to expiration of the Policiesforegoing, Borrower will deposit with or on behalf shall not be required to reserve funds in respect of LenderInsurance Premiums, such amount within one so long as (1i) Business Day after its receipt no Event of such noticeDefault has occurred and is continuing and (ii) Borrower delivers evidence reasonably acceptable to Lender that the insurance required hereunder is maintained under a blanket insurance policy meeting the requirements set forth in Article V and that the applicable insurance premiums for the policy year have been paid in full in advance.

Deposits of Insurance Funds. On Borrowers shall deposit with Lender the date hereofamount of Seventy Two Thousand Nine Hundred Fifty Six and 13/100 Dollars ($72,956.13) on the Closing Date, Borrower has as to which the amount of Thirty Thousand Nine Hundred Thirty Four and 89/100 Dollars ($30,934.89) shall be deemed deposited or caused to be deposited with or on behalf of Lender Horizon Xxxxxxxx, the sum amount of Nineteen Thousand Eight Hundred Forty Eight and 67/100 Dollars ($20,235.75 for transfer to 19,848.67) shall be deemed deposited on behalf of Horizon Medford, and the Insurance Accountamount of Twenty Two Thousand One Hundred Seventy Two and 57/100 Dollars ($22,172.57) shall be deemed deposited on behalf of Horizon Warrenton. Commencing on the Monthly Payment Date occurring in June 2013 and on On each Monthly Payment Date thereafterDate, each Borrower shall deposit with Lender an amount equal to one-twelfth 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 in respect of the Individual Property owned by such Borrower, in order to accumulate sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the expiration of the Policies. All , which amounts deposited with Lender by or on behalf of Borrower under this Section 6.4.1 shall be transferred by or at the direction of Lender into an Account established at Deposit Bank to hold such funds (the “Insurance Account”"INSURANCE ACCOUNT"). Amounts deposited from time to time into the Insurance Account pursuant to this Section 6.4.1 SECTION 6. 4.1 are referred to herein as the “Insurance Funds”"INSURANCE FUNDS". If at any time, 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; provided that if Borrower receives notice of any deficiency after the date that is thirty (30) days prior to expiration of the Policies, Borrower will deposit with or on behalf of Lender, such amount within one (1) Business Day after its receipt of such notice.

Deposits of Insurance Funds. On the date hereofClosing Date, Borrower has deposited or caused shall deposit with Lender an amount equal to be deposited with or on behalf of Lender the sum of Four Thousand Fifty Six and No/100 Dollars ($20,235.75 for transfer to the Insurance Account. Commencing on the Monthly Payment Date occurring in June 2013 and 4,056.00) and, on each Monthly Payment Date thereafterDate, Borrower shall deposit with Lender an amount equal to one-twelfth (1/12) of the Insurance Premiums (the “Monthly Insurance Deposit”) that 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. All amounts deposited with Lender by or on behalf of Borrower under this Section 6.4.1 shall be transferred by or at the direction of Lender 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 6.4.1 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, time 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, 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; provided that if Borrower receives notice of any such deficiency after the date that is thirty (30) days prior to expiration of the Policies, Borrower will deposit with or on behalf of Lender, such amount within one three (13) Business Day Days after its receipt of such notice.

Deposits of Insurance Funds. On the date hereof, Borrower has deposited or caused to be deposited with or on behalf of Lender the sum of $20,235.75 17,158.52 for transfer to the Insurance Account. Commencing on the Monthly Payment Date occurring in June 2013 May 2014 and on each Monthly Payment Date thereafter, 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. All amounts deposited with Lender by or on behalf of Borrower under this Section 6.4.1 shall be transferred by or at the direction of Lender 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 6.4.1 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 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; provided that if Borrower receives notice of any deficiency after the date that is thirty (30) days prior to expiration of the Policies, Borrower will deposit with or on behalf of Lender, such amount within one (1) Business Day after its receipt of such notice.

Deposits of Insurance Funds. On the date hereof, Borrower has deposited or caused to be deposited with or on behalf of Lender the sum of $20,235.75 for transfer to the Insurance Account. Commencing on the Monthly Payment Date occurring in June 2013 and on each Monthly Payment Date thereafter, Borrower shall deposit with Lender (i) an amount reasonably determined by Lender on the Closing Date, and (ii) 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 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. All , which amounts deposited with Lender shall be transferred into an Account established by or on behalf of Borrower under this Section 6.4.1 shall be transferred by or at the direction of Lender 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 6.4.1 are referred to herein as the “Insurance Funds”. If at any time, 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 by the date that is at least thirty (30) days prior to the expiration of the Policies; provided provided, that if Borrower receives notice of any deficiency after the date that is thirty (30) days prior to the expiration of the Policies, Borrower will deposit with or on behalf of Lender, Lender such amount within one (1) Business Day after its receipt of such notice.

Deposits of Insurance Funds. On During the date continuance of a Trigger Period, Borrower shall, subject to Sections 6.11.2, 6.4.3, and 6.4.4 hereof, Borrower has deposited or caused to be deposited deposit with or on behalf of Lender the sum following: (a) upon the commencement of $20,235.75 for transfer to such Trigger Period, an amount reasonably determined by Lender such that sufficient amounts shall be on deposit in the Insurance Account. Commencing on Account (taking into account the Monthly Payment Date occurring in June 2013 payments required pursuant to clause (b) of this Section 6.4.1) to pay the next scheduled payment of Insurance Premiums and (b) on each Monthly Payment Date thereafterDate, Borrower shall deposit with Lender an amount equal to one-twelfth (l/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 (taking into account the amounts on deposit pursuant to clause (a) of this Section 6.4.1), in order to accumulate sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the expiration of the Policies. All , which amounts deposited with Lender by or on behalf of Borrower under this Section 6.4.1 shall be transferred by or at the direction of Lender 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 6.4.1 are referred to herein as the “Insurance Funds”. If at any time, time Lender reasonably determines that the Insurance Funds will not be sufficient (taking into account the monthly deposits of Insurance Funds required to be made pursuant to clause (b) above) to pay the Insurance Premiums, 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; provided that if Borrower receives notice of any deficiency after the date that is thirty (30) days prior to expiration of the Policies, Borrower will deposit with or on behalf of Lender, such amount within one (1) Business Day after its receipt of such notice.

Deposits of Insurance Funds. On the date hereofClosing Date, Borrower has deposited or caused shall deposit with Lender an amount equal to be deposited with or on behalf of Lender the sum of Seventy-Two Thousand Seven Hundred Eighty and 53/100 Dollars ($20,235.75 for transfer to the Insurance Account. Commencing on the Monthly Payment Date occurring in June 2013 72,780.53), and on each Monthly Payment Date thereafterDate, Borrower shall deposit with Lender an amount equal to one-twelfth (1/12) of the Insurance Premiums (the “Monthly Insurance Deposit”) that Lender reasonably 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. All amounts deposited with Lender by or on behalf of Borrower under this Section 6.4.1 shall be transferred by or at the direction of Lender 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 6.4.1 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, time 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, 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; provided that if Borrower receives notice of any such deficiency after the date that is thirty (30) days prior to expiration of the Policies, Borrower will deposit with or on behalf of Lender, such amount within by the earlier of (a) three (3) Business Days after its receipt of such notice and (b) one (1) Business Day after its receipt prior to expiration of such noticethe Policies.

Deposits of Insurance Funds. On the date hereofSubject to Section 6.4.3, Borrower has deposited shall deposit or caused cause to be deposited with or on behalf of Lender (a) on the sum Closing Date, the amount of $20,235.75 for transfer to the Insurance Account. Commencing on the Monthly Payment Date occurring in June 2013 0 Dollars and (b) on each Monthly Payment Date thereafterDate, 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. All , which amounts deposited with Lender by or on behalf of Borrower under this Section 6.4.1 shall be transferred by or at the direction of Lender 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 6.4.1 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 in writing 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; provided that if Borrower receives written notice of any deficiency after the date that is thirty (30) days prior to expiration of the Policies, Borrower will deposit with or on behalf of Lender, such amount within one two (12) Business Day Days after its receipt of such notice.

Deposits of Insurance Funds. On the date hereof, Borrower has deposited shall deposit or caused cause to be deposited with or on behalf of Lender (a) on the sum Closing Date, the amount of $20,235.75 for transfer to the Insurance Account. Commencing on the Monthly Payment Date occurring in June 2013 0.00 and (b) on each Monthly Payment Date thereafterDate, 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. All , which amounts deposited with Lender by or on behalf of Borrower under this Section 6.4.1 shall be transferred by or at the direction of Lender into an Account established to hold such funds (the “Insurance Account”); provided, however, that if Lender receives evidence that the Properties are covered by a blanket insurance Policy acceptable to Lender in accordance with Section 5.1.1(c), then the Borrower shall not be required to deposit funds to the Insurance Account. Amounts deposited from time to time into the Insurance Account pursuant to this Section 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 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; provided that if Borrower receives notice of any deficiency after the date that is thirty (30) days prior to expiration of the Policies, Borrower will deposit with or on behalf of Lender, such amount within one (1) Business Day after its receipt of such notice.

Deposits of Insurance Funds. On the date hereof, Borrower has deposited or caused to be deposited with or on behalf of Lender the sum of $20,235.75 44,096.00 for transfer to the Insurance Account. Commencing on the Monthly Payment Date occurring in June 2013 February 2014 and on each Monthly Payment Date thereafter, 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. All amounts deposited with Lender by or on behalf of Borrower under this Section 6.4.1 shall be transferred by or at the direction of Lender 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 6.4.1 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 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; provided that if Borrower receives notice of any deficiency after the date that is thirty (30) days prior to expiration of the Policies, Borrower will deposit with or on behalf of Lender, such amount within one (1) Business Day after its receipt of such notice.

Deposits of Insurance Funds. On the date hereofAt all times during a Cash Sweep Period, Borrower has deposited or caused to be deposited with or on behalf of Lender the sum of $20,235.75 for transfer shall, pursuant to the Insurance Account. Commencing on the Monthly Payment Date occurring in June 2013 and Cash Management Agreement, make deposits on each Monthly Payment Date thereafter, Borrower shall deposit with Lender in 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. All amounts deposited with Lender by or on behalf of Borrower under this Section 6.4.1 shall be transferred by or at the direction of Lender 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 6.4.1 6.3.1 are referred to herein as the “Insurance Funds”. If at any time, time deposits are required to be made pursuant to this Section 6.3.1 and 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; provided . Notwithstanding the foregoing, deposits of Insurance Funds under this Section 6.3.1 shall not be required in respect of Insurance Premiums payable under Blanket Policies maintained by Borrower in accordance with Section 5.1 hereof, provided, that if Lender receives evidence reasonably acceptable to it of Borrower receives notice making the payment of any deficiency after the date that is thirty (30) days prior to expiration of the Policies, Borrower will deposit with or on behalf of Lender, all such amount within one (1) Business Day after its receipt of such noticeInsurance Premiums.