Common use of Deposits of Tax Funds Clause in Contracts

Deposits of Tax Funds. Pursuant to the Cash Management Agreement, upon the occurrence of (a) a Trigger Event and during the continuance of a Trigger Period or (b) an Event of Default and during the continuance thereof, there shall be deposited with Agent on each Monthly Payment Date an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least ten (10) days prior to their respective due dates. Amounts deposited pursuant to this Section 6.2.1, together with interest earned thereon, are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least fifteen (15) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any deficiency after the date that is fifteen (15) days prior to the date that Taxes are due, Borrower will deposit such amount within three (3) Business Days after its receipt of such notice.

Deposits of Tax Funds. Pursuant Subject to the Cash Management Agreementprovisions of Section 6.1.3, upon the occurrence of (a) a Trigger Event Borrower shall and during the continuance of a Trigger Period or (b) an Event of Default and during the continuance thereof, there shall be deposited cause Operating Company to deposit with Agent on each Monthly Payment Date an amount equal to one-twelfth of the Taxes that Lender reasonably Agent estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least ten (10) days prior to their respective due datesdates (the “Monthly Tax Reserve Deposit”). Amounts deposited pursuant to this Section 6.2.1, together with interest earned thereon, 6.1.1 are referred to herein as the “Tax Funds”. .” If at any time Lender Agent reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender Agent shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender Agent estimates is sufficient to make up the deficiency at least fifteen ten (1510) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any deficiency after the date that is fifteen ten (1510) days prior to the date that Taxes are due, Borrower will or, shall cause Operating Company to, deposit such amount within three two (32) Business Days Day after its receipt of such notice.

Deposits of Tax Funds. Pursuant to On the Cash Management AgreementClosing Date, upon Borrower shall deposit with Lender the occurrence amount of (a) a Trigger Event $354,315.75 and during the continuance of a Trigger Period or (b) an Event of Default and during the continuance thereof, there shall be deposited with Agent on each Monthly Payment Date an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least ten (10) days prior to their respective due dates. Amounts deposited pursuant to this Section 6.2.1, together with interest earned thereon, 6. 2.1 are referred to herein as the “"Tax Funds”. ." If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least fifteen ten (1510) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any deficiency after the date that is fifteen ten (1510) days prior to the date that Taxes are due, Borrower will deposit such amount within three one (31) Business Days Day after its receipt of such notice.

Deposits of Tax Funds. Pursuant to On the Cash Management AgreementClosing Date, upon Borrower shall deposit with Lender the occurrence amount of (a) a Trigger Event and during the continuance of a Trigger Period or (b) an Event of Default and during the continuance thereof$141,909.67 and, there shall be deposited with Agent on each Monthly Payment Date an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least ten (10) days prior to their respective due dates. Amounts deposited pursuant to this Section 6.2.1, together with interest earned thereon, 6.2.1 are referred to herein as the “Tax Funds”. .” If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least fifteen ten (1510) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any deficiency after the date that is fifteen ten (1510) days prior to the date that Taxes are due, Borrower will deposit such amount within three one (31) Business Days Day after its receipt of such notice.

Deposits of Tax Funds. Pursuant to the Cash Management Agreement, upon the occurrence of (a) a Trigger Event and during the continuance of a Trigger Period or (b) an Event of Default and during the continuance thereof, there shall be deposited with Agent on each Monthly Payment Date an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least ten (10) days prior to their respective due dates. Amounts deposited pursuant to this Section 6.2.1, together with interest earned thereon, are referred to herein as the “Tax Funds”. If at any time Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least fifteen (15) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of Of any deficiency after the date that is fifteen (15) days prior to the date that Taxes are due, Borrower will deposit such amount within three (3) Business Days after its receipt of such notice.

Deposits of Tax Funds. Pursuant At all times during a Cash Sweep Period, Borrower shall, pursuant to the Cash Management Agreement, upon the occurrence of (a) a Trigger Event and during the continuance of a Trigger Period or (b) an Event of Default and during the continuance thereof, there shall be deposited with Agent make deposits on each Monthly Payment Date in an amount equal to one-twelfth of the Taxes that Lender reasonably estimates will be payable with respect to the Property during the next ensuing twelve (12) months in order to accumulate sufficient funds to pay all such Taxes at least ten (10) days prior to their respective due dates. Amounts deposited pursuant to this Section 6.2.1, together with interest earned thereon, 6.2.1 are referred to herein as the “Tax Funds”. If at any time deposits are required to be made pursuant to this Section 6.2.1 and Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least fifteen ten (1510) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any deficiency after the date that is fifteen ten (1510) days prior to the date that Taxes are due, Borrower will deposit such amount within three one (31) Business Days Day after its receipt of such notice.