Deposits of Seasonality Reserve Funds Sample Clauses

Deposits of Seasonality Reserve Funds. On any Monthly Payment Date that the amount on deposit in the Seasonality Reserve Account is less than the Seasonality Reserve Target Borrower shall deposit or cause to be deposited with or on behalf of Lender, an amount equal to the Seasonality Reserve Account Monthly Payment for transfer by or at the direction of Lender into an Account established to hold such funds (the “Seasonality Reserve Account”). The amount of each such deposit to the Seasonality Reserve Account shall be an amount equal to (a) all Excess Cash Flow (if such payment is made during a Cash Trap Period) or (b) an amount equal to the excess of all Gross Revenues generated at the Property less all sums paid by Borrower or Master Tenant and corresponding to items (a)(i) through (v) of Section 6.11.1 and items (b)(i) and (iii) of Section 6.11.1 (if such payment is made at a time that no Cash Trap Period exists) to the Seasonality Reserve Account (such amount, the “Seasonality Reserve Account Monthly Payment”). Amounts deposited from time to time into the Seasonality Reserve Account pursuant to this Section 6.6.1 are referred to herein as the “Seasonality Reserve Funds”.
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Deposits of Seasonality Reserve Funds. 49 6.6.2 Release of Seasonality Reserve Funds. 50 6.6.3 Reassessment of Seasonality Reserve Target. 50
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Deposits of Seasonality Reserve Funds. On the date hereof, Borrower has deposited or caused to be deposited with or on behalf of Lender the sum of $50,000.00 for transfer to the Seasonality Reserve Account. On any Monthly Payment Date that the amount on deposit in the Seasonality Reserve Account is less than the Seasonality Reserve Target Borrower shall deposit or cause to be deposited with or on behalf of Lender, an amount equal to the Seasonality Reserve Account Monthly Payment for transfer by or at the direction of Lender into an Account established to hold such funds (the “Seasonality Reserve Account”). The amount of each such deposit to the Seasonality Reserve Account shall be an amount equal to (a) all Excess Cash Flow (if such payment is made during a Cash Trap Period) or (b) an amount equal to the excess of all Gross Revenues generated at the Property less all sums paid by Borrower or Master Tenant and corresponding to items (a)(i) through (v) of Section 6.11.1 and items (b)(i) and (iii) of Section 6.11.1 (if such payment is made at a time that no Cash Trap Period exists) to the Seasonality Reserve Account (such amount, the “Seasonality Reserve Account Monthly Payment”). Amounts deposited from time to time into the Seasonality Reserve Account pursuant to this Section 6.6.1 are referred to herein as the “Seasonality Reserve Funds”.
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Related to Deposits of Seasonality Reserve Funds

  • Reserve Funds Section 7.1.

  • Deposits to Special Accounts Except as otherwise provided in the Lock-Box Agreement, the Seller will not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock-Box Account cash or cash proceeds other than Collections in respect of the Collateral.

  • Reserve Accounts All reserves, escrows and deposit accounts required under the Loan Documents and all cash, checks, drafts, certificates, securities, investment property, financial assets, instruments and other property held therein from time to time and all proceeds, products, distributions or dividends or substitutions thereon and thereof;

  • Establishment of Custodial Account; Deposits in Custodial Account The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts (collectively, the “Custodial Account”), titled “PrimeLending, in trust for Redwood Residential Acquisition Corporation as Purchaser of Mortgage Loans and various Mortgagors.” Such Custodial Account shall be an Eligible Account established with a commercial bank, a savings bank or a savings and loan association (which may be a depository affiliate of the Seller) which meets the guidelines set forth by the FHFA, Fxxxxx Mxx or Fxxxxxx Mac as an eligible depository institution for custodial accounts. The Custodial Account shall not be transferred to any other depository institution without the Purchaser’s approval, which shall not unreasonably be withheld. In any case, the Custodial Account shall be insured by the FDIC in a manner which shall provide maximum available insurance thereunder and which may be drawn on by the Seller. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal and interest on the Mortgage Loans due on or before the related Cut-off Date):

  • Establishment of Custodial Accounts; Deposits in Custodial Accounts The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts. The creation of any Custodial Account shall be evidenced by a Custodial Account Letter Agreement in the form of Exhibit 7. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received by it subsequent to the Cut-off Date, or received by it prior to the Cut-off Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Cut-off Date:

  • Interest Bearing Deposits Upon receipt of Proper Instructions directing the Custodian to purchase interest bearing fixed term and call deposits (hereinafter referred to collectively, as "Interest Bearing Deposits") for the account of the Fund, the Custodian shall purchase such Interest Bearing Deposits in the name of the Fund with such banks or trust companies (including the Custodian, any Subcustodian or any subsidiary or affiliate of the Custodian) (hereinafter referred to as "Banking Institutions") and in such amounts as the Fund may direct pursuant to Proper Instructions. Such Interest Bearing Deposits may be denominated in U.S. Dollars or other currencies, as the Fund may determine and direct pursuant to Proper Instructions. The Custodian shall include in its records with respect to the Assets of the Fund appropriate notation as to the amount and currency of each such Interest Bearing Deposit, the accepting Banking Institution and all other appropriate details, and shall retain such forms of advice or receipt evidencing such account, if any, as may be forwarded to the Custodian by the Banking Institution. The responsibilities of the Custodian to the Fund for Interest Bearing Deposits accepted on the Custodian's books in the United States shall be that of a U.S. bank for a similar deposit. With respect to Interest Bearing Deposits other than those accepted on the Custodian's books, (a) the Custodian shall be responsible for the collection of income as set forth in Section 2.15 and the transmission of cash and instructions to and from such accounts; and (b) the Custodian shall have no duty with respect to the selection of the Banking Institution or, so long as the Custodian acts in accordance with Proper Instructions and the terms and conditions of this Agreement, for the failure of such Banking Institution to pay upon demand. Upon receipt of Proper Instructions, the Custodian shall take such reasonable actions as the Fund deems necessary or appropriate to cause each such Interest Bearing Deposit account to be insured to the maximum extent possible by all applicable deposit insurers including, without limitation, the Federal Deposit Insurance Corporation.

  • Operating Accounts (a) Maintain all of Borrower’s and its Subsidiaries’ Collateral Accounts in accounts which are subject to a Control Agreement in favor of Collateral Agent.

  • Reserve Fund (a) On the Closing Date, the Seller will deposit the Reserve Fund Initial Deposit into the Reserve Fund from the net proceeds of the sale of the Notes. The Reserve Fund shall be the property of the Issuer subject to the rights of the Indenture Trustee in the Reserve Fund Property.

  • Cash Accounts, Deposits and Money Movements Subject to the terms and conditions set forth in this Section 7, the Fund hereby authorizes the Custodian to open and maintain, with itself or with Subcustodians, cash accounts in United States Dollars, in such other currencies as are the currencies of the countries in which the Fund maintains Investments or in such other currencies as the Fund shall from time to time request by Instruction.

  • Collection Accounts Section 3.11 Withdrawals from the Collection Accounts..................... Section 3.12 Investment of Funds in the Collection Accounts and the Distribution Account......................................... Section 3.13 Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage........................................ Section 3.14 Enforcement of Due-on-Sale Clauses; Assumption Agreements.... Section 3.15

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