Imposition Deposits Sample Clauses

Imposition Deposits. Notwithstanding the provision of Section 7(d) of the Security Instrument, on or before the first day of each Loan Year after the Initial Closing Date, and on or before the Closing Date of a Substitution Request or a Release Request, if Lender determines, based on the foregoing methodology, that a modified amount is required to be deposited with Lender as Imposition Deposits, applicable Collateral Pool Borrower or IDOT Guarantor shall deposit any deficiency with Lender, or Lender shall release any overage to such Collateral Pool Borrower or IDOT Guarantor, provided that, in the case of the latter, no Event of Default or Potential Event of Default then exists hereunder. The applicable Collateral Pool Borrower or IDOT Guarantor shall, subject to such Collateral Pool Borrower’s or IDOT Guarantor’s right to contest under Section 15(d) of the Security Instruments, pay each Imposition relating to a Mortgaged Property before the last date upon which such payment may be made without any penalty or interest charge being added. Subject to such Collateral Pool Borrower’s or IDOT Guarantor’s right to contest under Section 15(d) of the Security Instruments, such Collateral Pool Borrower or IDOT Guarantor shall deliver to Lender evidence that such Borrower or IDOT Guarantor has paid each Imposition within thirty (30) days after making such payment.
Sample 1Sample 2
AutoNDA by SimpleDocs
Imposition Deposits. Notwithstanding the provision of Section 7(d) of the Security Instrument, but subject to Section 11.01, on or before the first day of each Loan Year after the Effective Date, and on or before the Closing Date of a Substitution Request or a Release Request, if Fannie Mae determines, based on the foregoing methodology, that a modified amount is required to be deposited with Fannie Mae as Imposition Deposits, applicable Collateral Pool Borrower shall deposit any deficiency with Fannie Mae, or Fannie Mae shall release any overage to such Collateral Pool Borrower, provided that, in the case of the latter, no Event of Default or Potential Event of Default then exists hereunder. The applicable Collateral Pool Borrower shall, subject to such Collateral Pool Borrower’s right to contest under Section 15(d) of the Security Instruments, pay each Imposition relating to a Mortgaged Property before the last date upon which such payment may be made without any penalty or interest charge being added. Subject to such Collateral Pool Borrower’s right to contest under Section 15(d) of the Security Instruments, such Collateral Pool Borrower shall deliver to Fannie Mae evidence that such Borrower has paid each Imposition within thirty (30) days after making such payment.
Sample 1Sample 2
Imposition Deposits. If Tenant fails to pay any Impositions as and when due, or if Landlord’s lender requires Tenant to escrow Impositions then: (a) Tenant shall deposit with Landlord, or Landlord’s lender, if applicable, an amount equal to one twelfth (1/12) of the Impositions to become due with respect to the Premises between one (1) and thirteen (13) months after the date of such deposit; provided that in the case of the first such deposit, Tenant shall deposit in addition, an amount which, when added to the aggregate amount of monthly deposits to be made here under with respect to Impositions to become due within thirteen (13) months after such first deposit, will provide (without interest) sufficient funds to pay such Impositions, one (1) month prior to the date when they are due. The amounts of such deposits (herein generally called "Imposition Deposits") shall be based upon Landlord's estimate of the amount of Impositions. Tenant shall promptly upon the demand of Landlord make additional Imposition Deposits as Landlord, or Landlord’s lender may from time to time require due to (i) failure of Tenant to make, Imposition Deposits in previous months, (ii) underestimation of the amounts of Impositions, due dates and amounts of Imposition, or (iii) application of the Imposition Deposits pursuant to Section 5.04(c). (b) Landlord shall, out of the Imposition Deposits, upon receipt by Landlord of the bills therefor, pay the Impositions or shall upon the presentation of receipted bills therefor, reimburse Tenant for such payments made by Tenant. If the total Imposition Deposits on hand shall not be sufficient to pay all of the Impositions when the same shall become due, then Tenant shall immediately pay to Landlord on demand the amount necessary to make up the deficiency. (c) Upon an Event of Default, Landlord may, at its option, apply any Imposition Deposits on hand to the obligations under this Lease. All Imposition Deposits are hereby pledged as additional security for the Lease, and shall be held by Landlord irrevocably to be applied for the purposes for which made as herein provided, and shall not be subject to the direction or control of Tenant. (d) Notwithstanding anything herein contained to the contrary, Landlord shall not be liable for any failure to apply the Imposition Deposits unless Tenant, while no Event of Default exists here under, shall have (i) requested Landlord in writing to make application of such Deposits to the payment of the Impositions and (ii) presente...
Sample 1
Imposition Deposits. All deposits for impositions or other escrowed funds or reserves required to be paid or funded by Seller for the benefit of Lender under the Loan Documents, which shall include at a minimum tax reserves in the amount of $177,375.26 (collectively, the "Seller Imposition Deposits").
Sample 1

Related to Imposition Deposits

  • Additional Deposits (a) The Servicer and the Seller, as applicable, shall deposit or cause to be deposited in the Collection Account on the Determination Date on which such obligations are due the aggregate Purchase Amount with respect to Purchased Receivables and the aggregate Sale Amounts with respect to Sold Receivables. (b) The proceeds of any purchase or sale of the assets of the Trust described in Section 10.1 shall be deposited in the Collection Account.

  • Escrow Deposits All escrow deposits and escrow payments currently required to be escrowed with the Mortgagee pursuant to each Mortgage Loan (including capital improvements and environmental remediation reserves) are in the possession, or under the control, of the Mortgage Loan Seller or its servicer, and there are no delinquencies (subject to any applicable grace or cure periods) in connection therewith, and all such escrows and deposits (or the right thereto) that are required under the related Mortgage Loan documents are being conveyed by the Mortgage Loan Seller to the Depositor or its servicer (or, in the case of a Non-Serviced Mortgage Loan, to the related depositor under the Non-Serviced PSA or Non-Serviced Master Servicer for the related Non-Serviced Trust).

  • Reservation Deposit A deposit totaling 35% of the agreed upon total amount is due with acceptance of rental agreement. Payment of deposit shall be deemed as acceptance of this rental agreement. Payment may be made by major credit card service offered by WPVP at time of reservation. We accept VISA or MASTERCARD.

  • Initial Deposits On the Closing Date and on each Addition Date thereafter, the Servicer will deposit (in immediately available funds) into the Collection Account all Collections received after the applicable Cut-Off Date and through and including the Closing Date or Addition Date, as the case may be, in respect of Eligible Assets being transferred to and included as part of the Collateral on such 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.

  • Security Deposits The Owner hereby grants the Agent power to collect security deposits from the tenants on the Property. Returning said security deposit shall be the responsibility of the: (check one)

  • Cash Deposits Within the limitations of this Subsection, Purchaser shall make cash deposits to meet Purchaser’s obligations within 15 days of billing by Forest Service. Deposits shall be made to Forest Service, U.S.D.A., by mail or delivery to the address to be fur- nished by Forest Service. Forest Service shall explain the bill at the time it requests each deposit.

  • Delinquent Accounts Collections: In the event GROUP’s account becomes delinquent, SHOP shall undertake collections per State Accounting Manual (XXX) Section 8776.6 (non-employee accounts receivable).

  • Returned Deposits ▪ Deposits made using the Mobile Deposit Service will be provisionally credited to your eligible account. You agree that if an original check deposited through the Mobile Deposit Service is subsequently dishonored, rejected or otherwise returned unpaid by the drawee bank, or is rejected or returned by a clearing agent or collecting bank, for any reason, including, but not limited to, issues relating to the quality of the image, that we may charge back the amount of the original check to your account and provide you with an image of the original check, a paper reproduction of the original check or a substitute check. You agree to reimburse us for all loss, cost, damage or expense caused by or relating to the processing of the returned item. Without our approval, you shall not attempt to redeposit or otherwise negotiate an original check if it has been charged back to you. We may debit any of your accounts to obtain payment for any item that has been rejected or returned, for any adjustment related to such item or for any warranty claim related to such item, whether or not the rejection, return, adjustment or warranty claim was made timely.

  • Disbursement Account 12.1 The Lender is obligated to keep the bank account information provided on the Platform up to date. The account shall be managed by a bank within the Single Euro Payment Area (hereinafter “SEPA”). 12.2 Any transfers by the Borrower to an account held by the Lender within SEPA shall not be subject to any fees.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!