Deposits of Rollover Funds. (a) On the date hereof, Borrower shall deposit with Lender an amount equal to $280,000.00 for deposit into an account of Lender (such account, the “Rollover Account” and any amounts deposited pursuant to this Section 7.4.1 are referred to herein as the “Rollover Funds”) for tenant improvements and leasing commissions that may be incurred following the date hereof. Thereafter, if at any time from time to time, the available balance of Rollover Funds on deposit in the Rollover Account is less than $150,000.00, then Borrower shall deposit with Lender on each Payment Date thereafter an amount equal to $8,049.77 (the “Monthly Rollover Deposit”), until such time as the balance of available Rollover Funds on deposit in the Rollover Reserve Account pursuant to this Section 7.4.1(a) equals $280,000.00 (the “Rollover Cap Amount”). Notwithstanding anything to contrary contained herein, upon the occurrence and during the continuance of a Major Tenant Trigger Period, Borrower shall commence making monthly deposits to the Rollover Account on each Payment Date in an amount equal to the Monthly Rollover Deposit until such time as no Major Tenant Trigger Period exists, notwithstanding the balance of available funds in the Rollover Account may exceed the Rollover Cap Amount. At such time that the applicable Major Tenant Trigger Event Cure has occurred and provided no other Major Tenant Trigger Period exists, all available Rollover Funds in excess of the Rollover Cap Amount shall be deposited into the Clearing Account.
(b) In addition to the deposits required under Section 7.4.1(a), Borrower shall deposit, or cause to be deposited, with Lender all amounts paid to Borrower in connection with (i) any modification or amendment of any Lease, (ii) any consent (including any consent to an assignment or sublease of any Lease) or waiver by Borrower of any term, condition or provision under any Lease, (iii) any settlement of claims of Borrower against third parties in connection with any Lease, (iv) any rejection, termination, surrender, cancellation or buy-out of any Lease (including in connection with any Bankruptcy Action and including any payment relating to unamortized tenant improvements and/or leasing commissions), and (v) any other extraordinary event pursuant to which Borrower receives payment (in whatever form) derived from or generated by the use, ownership or operation of the Property not otherwise covered by this Agreement or the Cash Management Agreement (collectively, ...
Deposits of Rollover Funds. (a) Borrower shall deposit with or on behalf of Lender on each Monthly Payment Date the sum of $10,683.77 (the “Monthly Rollover Reserve Deposit”), for tenant improvements and leasing commissions that may be incurred following the date hereof, which amounts shall be transferred into an Account (the “Rollover Account”). Lender may from time to time reassess its estimate of the required monthly amount necessary for tenant improvements and leasing commissions and, upon notice to Borrower, Borrower shall be required to deposit with or on behalf of Lender each month such reassessed amount, which shall be transferred into the Rollover Account. Amounts deposited from time to time into the Rollover Account pursuant to this Section 6.6.1 are referred to herein as the “Rollover Funds”. Notwithstanding the foregoing, Borrower shall not be required to make the Monthly Rollover Reserve Deposit on any Monthly Payment Date on which each of the following conditions is satisfied (as determined by Lender in its sole and absolute discretion): (i) no Event of Default has occurred and is continuing, (ii) the PUREgraphite Lease is in full force and effect without any monetary or material non-monetary default by PUREgraphite Tenant under the PUREgraphite Lease beyond applicable cure periods then continuing, and (iii) PUREgraphite Tenant and/or PUREgraphite Guarantor has an Investment Grade Rating.
(b) In addition to the required monthly deposits set forth in subsection (a) above, the following items shall be deposited into the Rollover Account and held as Rollover Funds and shall be disbursed and released as set forth in Section 6.6.2 below, and Borrower shall advise Lender at the time of receipt thereof of the nature of such receipt so that Lender shall have sufficient time to instruct the Deposit Bank to deposit and hold such amounts in the Rollover Account pursuant to the Cash Management Agreement:
(i) Other than Lease Sweep Lease Termination Payments (which shall be deposited into the Lease Sweep Account in accordance with Section 6.13.1 hereof), all sums paid with respect to (A) a modification of any Lease or otherwise paid in connection with Borrower taking any action under any Lease (e.g., granting a consent) or waiving any provision thereof, (B) any settlement of claims of Borrower against third parties in connection with any Lease, (C) any rejection, termination, surrender or cancellation of any Lease (including in any bankruptcy case) or any lease buy-out or surrender ...
Deposits of Rollover Funds. In the event that Borrower receives a fee, payment or other compensation from any Tenant under a Major Lease relating to or in exchange for the termination of such Tenant's Lease (a "Lease Termination Fee") Borrower shall immediately deposit such Lease Termination Fee with Lender, to be utilized for tenant improvements and leasing commissions that may be incurred with respect to the space relating to such Lease Termination Fee (a "Termination Space") and, in the event that there is a Rent Deficiency (as hereinafter defined) for the Termination Space from and after the date that the Major Lease for the Termination Space was terminated, in replacement of Rent. Amounts deposited pursuant to this Section 6.6.1 are referred to herein as the "Lease Termination Rollover Funds".
Deposits of Rollover Funds. In the event that Borrower receives a fee, payment or other compensation from any Tenant relating to or in exchange for the termination of such Tenant’s Lease (a “Lease Termination Fee”), Borrower shall, during the continuance of a Trigger Period only, immediately deposit such Lease Termination Fee with Lender, to be utilized for tenant improvements and leasing commissions that may be incurred with respect to the space relating to such Lease Termination Fee (a “Termination Space”) and, in the event that there is a Rent Deficiency (as hereinafter defined) for the Termination Space from and after the date that the Lease for the Termination Space was terminated, in replacement of Rent. Amounts deposited pursuant to this Section 6.6.1 are referred to herein as the “Lease Termination Rollover Funds.”
Deposits of Rollover Funds. During the continuance of a Trigger Period only, Borrowers shall deposit with Lender on each Monthly Payment Date an aggregate amount equal to one-twelfth of the Rollover Amount for each Individual Property for tenant improvements and leasing commissions that may be incurred at each Individual Property following the date hereof. Any amounts deposited pursuant to this Section 6.5.1 are referred to herein as the “Rollover Funds.”
Deposits of Rollover Funds. Upon the occurrence of a Trigger Event and during the continuance of a Trigger Period there shall be deposited with Lender on each Monthly Payment Date the sum of $15,000.00, for tenant improvements and leasing commissions that may be incurred following the date hereof. Amounts deposited pursuant to this Section 6.5.1 are referred to herein as the "Rollover Funds".
Deposits of Rollover Funds. In the event Borrower exercises its right to extend the term of the Loan pursuant to Section 2.3 hereof, during each Extension Term, Borrower shall deposit with Agent or Servicer on behalf of Agent (or cause to be deposited with Agent or Servicer pursuant to the Cash Management Agreement), on each Monthly Payment Date after the commencement of the applicable Extension Term (the “Extension Term Commencement Date”), an amount equal to $54,838.75 for Tenant Improvements costs, Tenant Improvement Allowances and Leasing Commissions. Amounts deposited pursuant to this Section 6.5.1 are referred to herein as the “Rollover Funds” and shall be utilized for the payment of Tenant Improvements, Tenant Improvement Allowances and Leasing Commissions incurred after the Extension Term Commencement Date under Leases entered into in accordance with the terms and provisions of this Agreement. The Rollover Funds shall be held in the Rollover Reserve Subaccount (as defined in the Cash Management Agreement), which shall be an Interest Bearing Account.
Deposits of Rollover Funds. While a Cash Trap Period exists, there shall be deposited to the Rollover Account established under the Cash Management Agreement on each Monthly Payment Date the sum of One Hundred Thousand and No/100 Dollars ($100,000.00), for tenant improvements and leasing commissions, lease cancellation fees, buy-out fees or a similar cost payable to Persons unaffiliated with Borrower that may be incurred while such Cash Trap Period exists. Amounts deposited pursuant to this Section 6.5.1 are referred to herein as the “Rollover Funds.”
Deposits of Rollover Funds. On the Closing Date, Borrower shall deposit with Lender the amount of Thirty Two Thousand and No/00 Dollars ($32,000.00) and there shall be deposited to the appropriate Account on each Monthly Payment Date the sum of Thirty Two Thousand and No/00 Dollars ($32,000.00), for tenant improvements and leasing commissions, lease cancellation fees, buy-out fees or a similar cost that may be incurred following the date hereof; provided, however, Borrower shall have no obligation to make deposits under this Section 6.5.1 during any month in which the amount then on deposit in the appropriate Account is greater than or equal to $500,000. Amounts deposited pursuant to this Section 6.5.1 are referred to herein as the "ROLLOVER FUNDS."
Deposits of Rollover Funds. Borrower shall deposit with Lender on each Monthly Payment Date the sum of $160,552.00, for tenant improvements and leasing commissions that may be incurred following the date hereof. Amounts deposited pursuant to this Section 6.5.1 are referred to herein as the “Rollover Funds.” Notwithstanding the foregoing, without waiving any of Borrower’s obligations under the Loan Documents to pay for all tenant improvements and leasing commissions, Lender agrees to defer its right under this Agreement and the other Loan Documents to require monthly deposits of Rollover Funds with Lender at all times other than during a Cash Management Period. If a Cash Management Period occurs, and until a Cash Management Period Termination Event occurs, then in addition to Lender’s other remedies under applicable law and under the Loan Documents, Borrower shall immediately commence making monthly deposits of Rollover Funds in an amount determined by Lender in accordance with this Section 6.5.1 for such purpose pursuant to the Cash Management Agreement.
