Common use of Impounds Clause in Contracts

Impounds. If a late charge is payable hereunder, whether or not collected, for three (3) installments of rent or any other monetary obligation of Tenant under the terms of this Lease, Tenant shall pay to Landlord, if Landlord shall so request, in addition to any other payments required under this Lease, a monthly advance installment, payable at the same time as the monthly rent, as estimated by Landlord, for any expenses on the Premises which are payable by Tenant under the terms of this Lease. Such fund shall be established to insure payment when due, before delinquency, of any or all such obligations. If the amounts paid to Landlord by Tenant under the provisions of this paragraph are insufficient to discharge the obligations of Tenant to pay such expenses as the same become due, Tenant shall pay to Landlord, upon Landlord's demand, such additional sums necessary to pay such obligations. All the moneys paid to Landlord under this paragraph may be intermingled with other moneys of Landlord and shall not bear interest. In the event of a default in the obligations of Tenant to perform under this Lease, then any balance remaining from funds paid to Landlord under the provisions of this paragraph, at the option of Landlord, in lieu of being applied to the payment of such expenses, may be applied to the payment of any monetary default of Tenant.

Impounds. If In the event that a late charge is payable hereunder, whether or not collected, for three (3) installments of rent or any other monetary obligation of Tenant under the terms of this Lease, Tenant shall pay to Landlord, if Landlord shall so request, in addition to any other payments required under this Lease, a monthly advance installment, payable at the same time as the monthly rent, as estimated by Landlord, for any real property tax and insurance expenses on the Leased Premises which are payable by Tenant under the terms of this Lease. Such fund shall be established to insure payment when due, before delinquency, of any or all such obligationsreal property taxes and insurance premiums. If the amounts paid to Landlord by Tenant under the provisions of this paragraph are insufficient to discharge the obligations of Tenant to pay such expenses real property taxes and insurance premiums as the same become due, Tenant shall pay to Landlord, upon Landlord's demand, such additional sums necessary to pay such obligations. All the moneys paid to Landlord under this paragraph may be intermingled with other moneys of Landlord and shall not bear interest. In the event of a default in the obligations of Tenant to perform under this Lease, then any balance remaining from funds paid to Landlord under the provisions of this paragraphparagraph may, at the option of Landlord, in lieu of being applied to the payment of such expenses, may be applied to the payment of any monetary default of TenantTenant in-lieu of being applied to the payment of real property tax and insurance premiums.

Impounds. If In the event that a late charge is payable hereunder, whether or not collected, for three (3) installments of rent or any other monetary obligation of which Tenant under the terms of this Leaseis late in paying, Tenant shall pay to Landlord, if Landlord shall so request, in addition to any other payments required under this Lease, a monthly advance installmentinstallments, payable at the same time as the monthly rentrent is paid for the month to which it applies, in amounts required as estimated by Landlord, Landlord to establish a fund for any insurance expenses on the Premises Property which are payable by Tenant under the terms of this Leasehereof. Such fund shall be established to insure payment when due, before delinquency, of any or all such obligationsinsurance premiums. If the amounts paid to Landlord by Tenant under the provisions of this paragraph Section 12.6 are insufficient to discharge the obligations of Tenant to pay such expenses insurance premiums as the same become due, Tenant shall pay to Landlord, upon Landlord's demand, such additional sums necessary to pay such obligations. All the moneys paid to Landlord under this paragraph Section 12.6 may be intermingled with other moneys monies of Landlord and shall not bear interest. In the event of a default in the obligations of Tenant to perform under this Lease, then any balance remaining from funds paid to Landlord under the provisions of this paragraphSection 12.6 may, at the option of Landlord, in lieu of being applied to the payment of such expenses, may be applied to the payment of any monetary default of TenantTenant in lieu of being applied to the payment of insurance premiums. In the event Tenant exercises its option to purchase the Property under Section 41 of this Lease, Tenant shall receive a credit at closing against the Purchase Price in the amount of any unreturned and unused funds paid by Tenant under this Section 12.6.

Impounds. If In the event that a late charge is payable hereunder, whether or not collected, for three (3) installments of rent or any other monetary obligation of Tenant under the terms of this Lease, Tenant shall pay to Landlord, if Landlord shall so request, in addition to any other payments required under this Lease, a monthly advance installment, payable at the same time as the monthly rent, as estimated by Landlord, for any real property tax and insurance expenses on the Leased Premises which are payable by Tenant under the terms of this Lease. Such fund shall be established to insure payment when due, before delinquency, of any or all such obligationsreal property taxes and insurance premiums. If the amounts paid to Landlord by Tenant under the provisions of this paragraph are insufficient to discharge the obligations of Tenant to pay such expenses real property taxes and insurance premiums as the same become due, Tenant shall pay to Landlord, upon Landlord's demand, such additional sums necessary to pay such obligations. All the moneys paid to Landlord under this paragraph may be intermingled with other moneys of Landlord and shall not bear interest. In the event of a default in the obligations of Tenant to perform under this Lease, then any balance remaining from funds paid to Landlord under the provisions of or this paragraphparagraph may, at the option of Landlord, in lieu of being applied to the payment of such expenses, may be applied to the payment of any monetary default of TenantTenant in lieu of being applied to the payment of real property tax and insurance premiums.

Impounds. If In the event that a late charge is payable hereunder, whether or not collected, for three (3) installments of rent or any other monetary obligation of Tenant under the terms of this Lease, Tenant shall pay to Landlord, if Landlord shall so request, in addition to any other payments required under this Lease, a monthly advance installment, payable at the same time as the monthly rent, as estimated by Landlord, for any expenses on the Premises which are payable by Tenant under the terms of this Lease. Such fund shall be established to insure payment when due, before delinquency, of any or all such obligations. If the amounts paid to Landlord by Tenant under the provisions of this paragraph are insufficient to discharge the obligations of Tenant to pay such expenses as the same become due, Tenant shall pay to Landlord, upon LandlordXxxxxxxx's demand, such additional sums necessary to pay such obligations. All the moneys paid to Landlord under this paragraph may be intermingled with other moneys of Landlord and shall not bear interest. In the event of a default in the obligations of Tenant to perform under this Lease, then any balance remaining from funds paid to Landlord under the provisions of this paragraph, at the option of Landlord, in lieu of being applied to the payment of such expenses, may be applied to the payment of any monetary default of Tenant.

Impounds. If In the event of a late charge is payable default hereunder, whether or not collected, for three (3) installments of rent or any other monetary obligation of Tenant under the terms of this Lease, Tenant shall pay to Landlord, and if Landlord Lender shall so request, to pay to Lender in addition to any other payments required under this Leasehereunder, a monthly advance installment, payable at the same time as the monthly rentinstallments, as estimated by LandlordLender, for any expenses on taxes, assessments, insurance premiums, ground rents or other obligations secured by this Mortgage (hereinafter in this paragraph referred to as "such obligations") for the Premises which are payable by Tenant under the terms purpose of this Lease. Such establishing a fund shall be established to insure payment when due, or before delinquency, of any or all of such obligationsobligations required to be paid as to the Property. If the amounts paid to Landlord by Tenant Lender under the provisions of this paragraph are insufficient to discharge the obligations of Tenant Mortgagor to pay such expenses obligations as the same become duedue or delinquent, Tenant Mortgagor shall pay to LandlordLender, upon Landlord's Lenders demand, such additional sums as are necessary to pay such obligations. All the moneys monies paid to Landlord Lender under this paragraph may be intermingled with other moneys monies of Landlord Lender and shall not bear interest, except as required by law. Lender may pay such obligations whether before or after they become due and payable. In the event of a default in the payment of any monies due on the indebtedness secured hereby, default of any obligation secured hereby, or default in the performance of any of the covenants and obligations of Tenant to perform under this LeaseMortgage, then any balance remaining from funds monies paid to Landlord Lender under the provisions of this paragraphparagraph may, at the option of LandlordLender, be applied to the payment of principal, interest or other obligations secured hereby in lieu of being applied to any of the payment purposes for which the impound account is established. Lender will make such reports of such expenses, may be applied to the payment of any monetary default of Tenantimpounds as are required by law.