Common use of Establishment of Reserve Funds Clause in Contracts

Establishment of Reserve Funds. Each Reserve Fund marked in Article I as required or collected will be established on the Closing Date and funded in accordance with this Article IV. Upon Notice to Borrower following (i) an Event of Default or (ii) a Transfer requiring Lender’s approval under Article VII, Lender may require Borrower to establish and make deposits into any Reserve Fund marked in Article I as deferred.

Establishment of Reserve Funds. Each Reserve Fund marked in Article I as required or collected will be established on the Closing Date and funded in accordance with this Article IV. Upon Notice to Borrower following (i) an Event of Default or Default, (ii) a Transfer requiring Lender’s approval under Article VII, or (iii) the placement of a Subordinate Loan, Lender may require Borrower to establish and make deposits into any Reserve Fund marked in Article I as deferred.

Establishment of Reserve Funds. Each Reserve Fund marked in Article I as required or collected will be established on the Closing Date and funded in accordance with this Article IV. Upon Notice to Borrower following (i) an Event of Default or Default, (ii) a Transfer requiring Lender’s approval under Article VII, or (iii) the placement of a subordinate loan, Lender may require Borrower to establish and make deposits into any Reserve Fund marked in Article I as deferred.

Establishment of Reserve Funds. Each Reserve Fund marked in Article I as required or collected will be established on the Closing Date and funded in accordance with this Article IV. Upon Notice to Borrower following (i) an Event of Default Default, or (ii) a Transfer requiring Lender’s approval under Article VII, or (iii) placement of a Supplemental Loan in accordance with Section 10.21, Lender may require Borrower to establish and make deposits into any Reserve Fund marked in Article I as deferred.