Insurance and Real Estate Taxes. Borrower shall (unless waived by Lender in the Security Instrument) establish funds for Taxes, insurance premiums and certain other charges for each Mortgaged Property in accordance with Section 7(a) of the Security Instrument for each Mortgaged Property.
Insurance and Real Estate Taxes. The Borrower shall (unless waived by Lender) establish funds for taxes, insurance premiums and certain other charges for each Mortgaged Property in accordance with Section 7(a) of the Security Instrument for each Mortgaged Property. The requirement for any fund established pursuant to the preceding sentence may be met, at the Lender’s reasonable discretion, by the posting of a letter of credit in form and substance reasonably satisfactory to the Lender and meeting the requirements of Xxxxxx Mae.
Insurance and Real Estate Taxes. The Borrower shall (unless waived by Lender) establish funds for taxes, insurance premiums and certain other charges for each Mortgaged Property in accordance with Section 7(a) of the Security Instrument for each Mortgaged Property. The Borrower may provide a letter of credit in lieu of deposits required by the preceding sentence. Any letter of credit provided by the Borrower shall be (i) issued by a financial institution reasonably acceptable to the Lender, (ii) be an amount reasonably deferred, from time to time by the Lender and, (iii) in a form reasonably satisfactory to Lender.
Insurance and Real Estate Taxes. 14.01. Owner and Operator agree that throughout the Term, the insurance coverage set forth in Appendix E shall be procured and maintained in the manner specified therein.
14.02. Owner shall be responsible for payment in a timely manner of all real estate and personal property taxes and all other taxes on property levied against the Hotel or any of its parts, and such taxes shall not be treated as Operating Expenses. Should Owner default in the performance of any of the foregoing obligations, Operator may, but shall not be obliged to, fulfill said obligations on Owner's behalf and if Operator shall fulfill any of the said obligations, Operator shall be reimbursed forthwith by Owner with interest or Operator may withdraw such amounts from the Agency Accounts or the Reverse Account in whole or in part at any time and Owner shall promptly reimburse such accounts.
Insurance and Real Estate Taxes. (a) Insurance and Tax Escrow; Waiver. Borrower shall establish funds for taxes, insurance premiums and certain other charges for each Mortgaged Property in accordance with Section 7(a) of the Security Instrument for each Mortgaged Property. Notwithstanding the foregoing, so long as no Event of Default or Potential Event of Default has occurred, and with respect to the waiver of tax escrows only, so long as Camden has its long-term debt obligations rated at least “BBB” by S&P or “Baa2” by Xxxxx’x, Lender hereby waives the obligations of Borrower under Section 7(a) of each Security Instrument with respect to the escrow of premiums for insurance and taxes (the “Required Escrow Payments”). During any period in which the obligation to pay the Required Escrow Payments has been waived pursuant to this Section 13.01, each Borrower shall: (i) pay taxes, (ii) pay insurance premiums with respect to the insurance policy meeting the requirements of the Security Instrument for each Mortgaged Property, (iii) not later than fifteen (15) days prior to the expiration date of such policy send Lender copies of binding quotes received by Camden which set forth the gross pre-tax premiums for new or renewal insurance policies, complete information on who is providing the insurance and to whom the premiums are due, evidence of Camden’s acceptance of such quotes or renewals, certified copies of evidence of insurance effective on or prior to the expiration date of the old existing policy, (iv) not later than thirty five (35) days after the then-current expiration date of the insurance policy, send Lender paid receipts or other documentation satisfactory to Lender evidencing that the premiums for such new or renewal insurance policies have been paid, (v) send Lender invoices and paid receipts, or other documentation satisfactory to Lender, evidencing payment of such taxes on the date such taxes are due and payable, (vi) provide to Lender written proof at least fifteen (15) days prior to the then-current expiration date of the insurance policy, certified by the insurance provider, that such policy has been extended for a period of at least one (1) year, and (vii) include all payments of insurance premiums and taxes in its monthly and annual property income and expense data. In the event that the rating of the long-term debt obligations of Camden falls below “BBB” by S&P and below “Baa2” by Xxxxx’x, Borrower shall notify Lender of such downgrade within two (2) business days and Borrow...
Insurance and Real Estate Taxes. (a) Insurance and Tax Escrow; Waiver. Borrower shall establish funds for taxes, insurance premiums and certain other charges for each Mortgaged Property in accordance with Section 7(a) of the Security Instrument for each Mortgaged Property. Notwithstanding the foregoing, so long as no Event of Default or Potential Event of Default has occurred, Lender hereby waives the obligations of Borrower under Section 7(a) of each Security Instrument with respect to the escrow of premiums for insurance and taxes (the “Required Escrow Payments”). During any period in which the obligation to pay the Required Escrow Payments has been waived pursuant to this Section 13.01, each Borrower shall: (i) pay insurance premiums by or on behalf of Borrower with respect to the insurance policy meeting the requirements of the Security Instrument for each Mortgaged Property, (ii) pay taxes by or on behalf of Borrower, (iii) send Lender invoices and paid receipts, or other documentation satisfactory to Lender, evidencing payment of such insurance premiums on the earlier of (A) the date that each such premium is due and payable and (B) thirty (30) days prior to the expiration date of such policy, (iv) send Lender invoices and paid receipts, or other documentation satisfactory to Lender, evidencing payment of such taxes on the date such taxes are due and payable, (v) provide to Lender written proof at least thirty (30) days prior to the then-current expiration date of the insurance policy, certified by the insurance provider, that such policy has been extended for a period of at least one (1) year, and (vi) include all payments of insurance premiums and taxes in its monthly and annual property income and expense data.
Insurance and Real Estate Taxes. The Tenant shall pay when due all current real estate taxes levied or assessed against the leased Property during the Term, as additional Rent. Tenant agrees to reimburse Landlord for the real estate taxes and special assessments, if any, that are due and payable for the Property during the Term, even though some of such taxes may be for time periods prior to the Term. Tenant shall have the right to contest any real estate tax increases which affect Tenant, which contest shall be at the expense of Tenant and shall not affect or delay the payment by Tenant of any increase in taxes. Landlord shall be kept advised if Tenant decides to contest such tax increases and agrees to cooperate with Tenant in the same. Tenant shall also reimburse Landlord for its premiums on insurance policies required by this Lease, including insurance for perils such as fire and extended coverage (all risk) and public liability during the Term. The real estate taxes and special assessments, and insurance premiums, shall either be paid in monthly installments or a single installment when rental payments are due, at Landlord's option. The insurance policies covering the Property shall be held by the Landlord and shall list Landlord as the insured thereunder, with the liability insurance policy listing Tenant as an additional insured.
Insurance and Real Estate Taxes. The Borrower Parties shall (unless waived by Lender) establish funds for taxes, insurance premiums and certain other charges for each Mortgaged Property in accordance with Section 7(a) of the Security Instrument for each Mortgaged Property.
Insurance and Real Estate Taxes. 88 SECTION 20.02
Insurance and Real Estate Taxes. Each Owner shall establish funds for taxes, insurance premiums and certain other charges for each Mortgaged Property in accordance with Uniform Covenant 2A of the Security Instrument for each Mortgaged Property.
