Common use of Deposits of Tax Funds Clause in Contracts

Deposits of Tax Funds. Subject to the provisions of Section 6.1.3, Borrower shall and shall cause Operating Company to deposit with Agent on each Payment Date an amount equal to one-twelfth of the Taxes that 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 dates (the “Monthly Tax Reserve Deposit”). Amounts deposited pursuant to this Section 6.1.1 are referred to herein as the “Tax Funds.” If at any time Agent reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Agent shall notify Borrower of such determination and the monthly deposits for Taxes 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 the Taxes; provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the date that Taxes are due, Borrower will or, shall cause Operating Company to, deposit such amount within two (2) Business Day after its receipt of such notice.

Deposits of Tax Funds. Subject Pursuant to the provisions Cash Management Agreement, upon the occurrence of Section 6.1.3(a) a Trigger Event and during the continuance of a Trigger Period or (b) an Event of Default and during the continuance thereof, Borrower there shall and shall cause Operating Company to deposit be deposited with Agent on each Monthly Payment Date an amount equal to one-twelfth of the Taxes that Agent 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 (the “Monthly Tax Reserve Deposit”)dates. Amounts deposited pursuant to this Section 6.1.1 6.2.1, together with interest earned thereon, are referred to herein as the “Tax Funds.” ”. If at any time Agent Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Agent Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Agent Lender estimates is sufficient to make up the deficiency at least ten fifteen (1015) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any deficiency after the date that is ten fifteen (1015) days prior to the date that Taxes are due, Borrower will or, shall cause Operating Company to, deposit such amount within two three (23) Business Day Days after its receipt of such notice.

Deposits of Tax Funds. Subject to On the provisions of Section 6.1.3Closing Date, Borrower shall and shall cause Operating Company to deposit with Agent Lender the amount of $354,315.75 and there shall be deposited on each Monthly Payment Date an amount equal to one-twelfth of the Taxes that Agent Lender 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 (the “Monthly Tax Reserve Deposit”)dates. Amounts deposited pursuant to this Section 6.1.1 6.2.1 are referred to herein as the “"Tax Funds.” " If at any time Agent Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Agent Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Agent Lender estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the date that Taxes are due, Borrower will or, shall cause Operating Company to, deposit such amount within two one (21) Business Day after its receipt of such notice. 6.2.2.

Deposits of Tax Funds. Subject to On the provisions of Section 6.1.3Closing Date, Borrower shall and shall cause Operating Company to deposit with Agent Lender the amount of $141,909.67 and, there shall be deposited on each Monthly Payment Date an amount equal to one-twelfth of the Taxes that Agent Lender 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 (the “Monthly Tax Reserve Deposit”)dates. Amounts deposited pursuant to this Section 6.1.1 6.2.1 are referred to herein as the “Tax Funds.” If at any time Agent Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Agent Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Agent Lender estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the date that Taxes are due, Borrower will or, shall cause Operating Company to, deposit such amount within two one (21) Business Day after its receipt of such notice.

Deposits of Tax Funds. Subject Pursuant to the provisions Cash Management Agreement, upon the occurrence of Section 6.1.3(a) a Trigger Event and during the continuance of a Trigger Period or (b) an Event of Default and during the continuance thereof, Borrower there shall and shall cause Operating Company to deposit be deposited with Agent on each Monthly Payment Date an amount equal to one-twelfth of the Taxes that Agent 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 (the “Monthly Tax Reserve Deposit”)dates. Amounts deposited pursuant to this Section 6.1.1 6.2.1, together with interest earned thereon, are referred to herein as the “Tax Funds.” ”. If at any time Agent Lender reasonably determines that the Tax Funds will not be sufficient to pay the Taxes, Agent Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Agent Lender estimates is sufficient to make up the deficiency at least ten fifteen (1015) 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 ten fifteen (1015) days prior to the date that Taxes are due, Borrower will or, shall cause Operating Company to, deposit such amount within two three (23) Business Day Days after its receipt of such notice.

Deposits of Tax Funds. Subject At all times during a Cash Sweep Period, Borrower shall, pursuant to the provisions of Section 6.1.3Cash Management Agreement, Borrower shall and shall cause Operating Company to deposit with Agent make deposits on each Monthly Payment Date in an amount equal to one-twelfth of the Taxes that Agent 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 (the “Monthly Tax Reserve Deposit”)dates. Amounts deposited pursuant to this Section 6.1.1 6.2.1 are referred to herein as the “Tax Funds.” ”. If at any time Agent 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, Agent Lender shall notify Borrower of such determination and the monthly deposits for Taxes shall be increased by the amount that Agent Lender estimates is sufficient to make up the deficiency at least ten (10) days prior to the respective due dates for the Taxes; provided that if Borrower receives notice of any deficiency after the date that is ten (10) days prior to the date that Taxes are due, Borrower will or, shall cause Operating Company to, deposit such amount within two one (21) Business Day after its receipt of such notice.