Interest on Certain Reserve Funds; Income Taxes Sample Clauses

Interest on Certain Reserve Funds; Income Taxes. All Reserve Funds may be invested in FDIC insured deposit accounts as directed by Lender in accordance with the terms of the Cash Management Agreement, but such investment shall be limited to bank deposits only. Borrower acknowledges and agrees that the availability of and return on certain Permitted Investments depends, in part, upon the availability of Permitted Investments to the Cash Management Bank, the size of the balance of the applicable Reserve Funds and/or the frequency of deposits into and withdrawals from the Reserve Funds and that certain Permitted Investments may be or become unavailable from time to time with respect to the Reserve Funds for a variety of reasons, including, without limitation, any of the foregoing factors. Borrower acknowledges and agrees that the interest or income received on the Reserve Funds may not be the highest return available on cash-based investments and further acknowledges and agrees that none of Lender, any Servicer of the Loan, the Cash Management Bank or any of their respective agents or representatives shall be obligated to seek the highest return available on cash-based investments and none of Lender, any Servicer of the Loan, the Cash Management Bank or any of their respective agents or representatives shall be liable for any loss sustained on the investment of any funds constituting the Reserve Funds. All earnings or interest on each of the Reserve Funds (other than the Tax Funds and the Insurance Funds) shall be and become part of the respective Reserve Fund and shall be disbursed as provided in the paragraph(s) of this Agreement applicable to each such Reserve Fund. All earnings and interest on the Tax Funds and the Insurance Funds shall be the sole property of and paid to Lender. Borrower shall report on its federal, state, commonwealth, district and local income tax returns all interest or income accrued on the Reserve Funds (other than the Tax Funds and the Insurance Funds) that constitute Borrower Accounts (as defined in the Cash Management Agreement), and shall cause Master Tenant to report on Master Tenant’s federal, state, commonwealth, district and local income tax returns all interest or income accrued on Reserve Funds that constitute Master Tenant Accounts (as defined in the Cash Management Agreement).
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Interest on Certain Reserve Funds; Income Taxes. All Reserve Funds may be invested in Permitted Investments as directed by Lender in accordance with the terms of the Cash Management Agreement. Borrower acknowledges and agrees that the availability of and return on certain Permitted Investments depends, in part, upon the availability of Permitted Investments to the Cash Management Bank, the size of the balance of the applicable Reserve Funds and/or the frequency of deposits into and withdrawals from the Reserve Funds and that certain Permitted Investments may be or become unavailable from time to time with respect to the Reserve Funds for a variety of reasons, including, without limitation, any of the foregoing
Sample 1
Interest on Certain Reserve Funds; Income Taxes. 47 6.10.3 Prohibition Against Further Encumbrance 48 Section 6.11 Property Cash Flow Allocation 48 6.11.1 Order of Priority of Funds in Cash Management Account 48 6.11.2 Failure to Make Payments 48 6.11.3 Application After Event of Default 48 TABLE OF CONTENTS (CONTINUED) Page ARTICLE 7: PROPERTY MANAGEMENT 49 Section 7.1 The Management Agreement 49 Section 7.2 Prohibition Against Termination or Modification 49 Section 7.3 Replacement of Manager 50 ARTICLE 8: PERMITTED TRANSFERS 50 Section 8.1 Permitted Transfer of the Properties 50 Section 8.2 Permitted Transfers of Interest Borrower 53 Section 8.3 Replacement Guarantor 57 Section 8.4 Costs and Expenses 59 ARTICLE 9: SALE AND SECURITIZATION OF MORTGAGE 59 Section 9.1 Sale of Mortgage and Securitization 60 Section 9.2 Securitization Indemnification 61 Section 9.3 Severance Documentation 64 Section 9.4 Secondary Market Transaction Costs 65 ARTICLE 10: DEFAULTS 65 Section 10.1 Events of Default 65 Section 10.2 Remedies 68 Section 10.3 Lender's Right to Perform 70 Section 10.4 Remedies Cumulative 70 ARTICLE 11: MISCELLANEOUS 70 Section 11.1 Successors and Assigns; Assignments and Participations 70 Section 11.2 Lender's Discretion 70 Section 11.3 Governing Law 71 Section 11.4 Modification, Waiver in Writing 72 Section 11.5 Delay Not a Waiver 72 Section 11.6 Notices 73 Section 11.7 Trial by Jury 74 Section 11.8 Headings 74 Section 11.9 Severability 75 Section 11.10 Preferences 75 Section 11.11 Waiver of Notice 75 TABLE OF CONTENTS (CONTINUED) Page Section 11.12 Remedies of Borrower 75 Section 11.13 Expenses; Indemnity 75 Section 11.14 Schedules Incorporated 77 Section 11.15 Offsets, Counterclaims and Defenses 77 Section 11.16 No Joint Venture or Partnership; No Third Party Beneficiaries 77 Section 11.17 Publicity 78 Section 11.18 Waiver of Marshalling of Assets 78 Section 11.19 Waiver of Offsets/Defenses/Counterclaims 78 Section 11.20 Conflict; Construction of Documents; Reliance 78 Section 11.21 Brokers and Financial Advisors 79 Section 11.22 Exculpation 79 Section 11.23 Prior Agreements 84 Section 11.24 Servicer 84 Section 11.25 Joint and Several Liability 85 Section 11.26 Creation of Security Interest 85 Section 11.27 Counterparts 85 Section 11.28 Set-Off 85 Section 11.29 Certain Additional Rights of Lender (VCOC) 86 ARTICLE 12: MEZZANINE LOAN 87 Section 12.1 Mezzanine Loan Notice 87 Section 12.2 Mezzanine Loan Estoppels 87 Section 12.3 Intercreditor Agreement 87 Section 12.4 Direction of Mezzanine Borrower ...
Sample 1

Related to Interest on Certain Reserve Funds; Income Taxes

  • Interest on Payments Any payment by the Receiver pursuant to Section 2.6(d) shall be made together with interest on the amount thereof that accrues with effect from five (5) Business Days after the date on which payment was agreed or determined to be due until such amount is paid. The annual interest rate shall be determined by the Receiver based on the coupon equivalent of the three (3)-month U.S. Treasury Xxxx Rate in effect as of the first Business Day of each Calendar Quarter during which such interest accrues as reported in the Federal Reserve Board Statistical Release for Selected Interest Rates H.15 opposite the caption “Treasury bills (secondary market), 3-Month” or, if not so reported for such day, for the next preceding Business Day for which such rate was so reported.

  • Interest on Term Loan The Credit Agreement is hereby further amended by deleting ss.4.5.1. thereto in its entirety and substituting in lieu thereof the following new ss.4.5.1.:

  • Interest on Term Loans The outstanding principal amount of each Term Loan made by each Lender shall bear interest at a fluctuating rate per annum that shall at all times be equal to (i) during such periods as such Term Loan is a Base Rate Loan, the Base Rate plus the Applicable Margin in effect from time to time, and (ii) during such periods as such Term Loan is a Eurodollar Loan, the relevant Adjusted Eurodollar Rate for such Eurodollar Loan for the applicable Interest Period plus the Applicable Margin in effect from time to time.

  • Interest on Capital Contributions No Member shall be entitled to any interest on its capital contribution.

  • Payments from Available Funds Only All payments to be made by the Borrower under this Agreement shall be made only from the amounts that constitute Scheduled Payments, Special Payments and other payments under the Operative Agreements, including payment under Section 4.02 of the Participation Agreements and payments under Section 2.14 of the Indentures, and only to the extent that the Borrower shall have sufficient income or proceeds therefrom to enable the Borrower to make payments in accordance with the terms hereof after giving effect to the priority of payments provisions set forth in the Intercreditor Agreement. The Liquidity Provider agrees that it will look solely to such amounts to the extent available for distribution to it as provided in the Intercreditor Agreement and this Agreement and that the Borrower, in its individual capacity, is not personally liable to it for any amounts payable or liability under this Agreement except as expressly provided in this Agreement, the Intercreditor Agreement or any Participation Agreement. Amounts on deposit in the Class A Cash Collateral Account shall be available to the Borrower to make payments under this Agreement only to the extent and for the purposes expressly contemplated in Section 3.05(f) of the Intercreditor Agreement.

  • Reserve Funds, Generally (a) Borrower grants to Lender a first-priority perfected security interest in each of the Reserve Funds and any and all monies now or hereafter deposited in each Reserve Fund as additional security for payment of the Debt. Until expended or applied in accordance herewith, the Reserve Funds shall constitute additional security for the Debt.

  • Interest on Advances Each Borrower shall pay interest on the unpaid principal amount of each Advance made to such Borrower by each Bank from the date of such Advance until such principal amount shall be paid in full, at the following rates per annum:

  • Interest on Swing Loans Each Swing Loan shall bear interest until maturity (whether by acceleration or otherwise) at a rate per annum equal to (i) the sum of the Base Rate plus the Applicable Margin for Base Rate Loans under the Revolving Credit as from time to time in effect (computed on the basis of a year of 360 days for the actual number of days elapsed) or (ii) the Swing Line Lender’s Quoted Rate (computed on the basis of a year of 360 days for the actual number of days elapsed). Interest on each Swing Loan shall be due and payable by the Borrower on each Interest Payment Date and at maturity (whether by acceleration or otherwise).

  • Distributions from Certificate Account and Special Payments Account (a) On each Regular Distribution Date with respect to a series of Certificates or as soon thereafter as the Trustee has confirmed receipt of the payment of all or any part of the Scheduled Payments due on the Equipment Notes held (subject to the Intercreditor Agreement) in the related Trust on such date, the Trustee shall distribute out of the applicable Certificate Account the entire amount deposited therein pursuant to Section 4.01(a). There shall be so distributed to each Certificateholder of record of such series on the Record Date with respect to such Regular Distribution Date (other than as provided in Section 11.01 concerning the final distribution) by check mailed to such Certificateholder, at the address appearing in the Register, such Certificateholder’s pro rata share (based on the Fractional Undivided Interest in the Trust held by such Certificateholder) of the total amount in the applicable Certificate Account, except that, with respect to Certificates registered on the Record Date in the name of a Clearing Agency (or its nominee), such distribution shall be made by wire transfer in immediately available funds to the account designated by such Clearing Agency (or such nominee).

  • Investment of Amounts in Special Payments Account Any amounts on deposit in the Special Payments Account prior to the distribution thereof pursuant to Section 2.4(b) or (c) shall be invested in accordance with Section 2.2(b). Investment Earnings on such investments shall be distributed in accordance with Section 2.4(b) or (c), as the case may be.

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