Common use of Interest Payable by Lender Clause in Contracts

Interest Payable by Lender. Lender shall cause funds in the Partial Defeasance Reserve and the Replacement Reserve (the "Funds") to be deposited into interest bearing accounts of the type customarily maintained by Lender or its servicing agent for the investment of similar reserves, which accounts may not yield the highest interest rate then available. The Funds shall be held in an account in Lender's name (or such other account name as Lender may elect) at a financial institution or other depository selected by Lender (or its Servicer) in its sole discretion (collectively, the "Depository Institution"). Borrower shall earn no more than an amount of interest on the Funds equal to an amount determined by applying to the average monthly balance of such Funds the quoted interest rate for the Depository Institution's money market savings account, as such rate is determined from time to time (such allocated amount being referred to as "Borrower's Interest"). Lender or its Depository Institution shall be entitled to report under Borrower's Federal tax identification number, Borrower's Interest on the Funds. If the Depository Institution does not have an established money market savings account (or if an interest rate for such account cannot otherwise be determined in connection with the deposit of such Funds), a comparable interest rate quoted by the Depository Institution and acceptable to Lender (or its Servicer) in its reasonable discretion shall be used. The amount of Borrower's Interest allocated to Funds shall be added to the balance in the Partial Defeasance Reserve and the Replacement Reserve and shall be disbursed for payment of the items for which other Funds in the Partial Defeasance Reserve and the Replacement Reserve are to be disbursed. Notwithstanding the foregoing, to the extent the Property includes residential units, the Security Deposit Account shall bear interest, if required, pursuant to 68 P.S. Section 250.511 which interest earnings shall be allocated to Borrower to the extent so required by law.

Interest Payable by Lender. Lender shall cause funds all monies on deposit in the Partial Defeasance Reserve and the Replacement Reserve (the "Funds") Funds to be deposited into interest bearing accounts of the type customarily maintained by Lender or its servicing agent for the investment of (and may be commingled with) similar reserves, which accounts may not yield the highest interest rate then available. The Funds shall be held in an account in Lender's name (or such other account name as Lender may elect) at a financial institution or other depository selected by Lender (or its Servicerservicer) in its sole discretion (collectively, the "Depository InstitutionDEPOSITORY INSTITUTION"). Borrower shall earn no more than an amount of interest on the Funds equal to an amount determined by applying to the average monthly balance of such Funds the quoted interest rate for the Depository Institution's money market savings account, as such rate is determined from time to time (such allocated amount being referred to as "Borrower's InterestBORROWER'S INTEREST"). Lender or its Depository Institution shall be entitled to report under Borrower's Federal tax identification number, number the Borrower's Interest on the Funds. If the Depository Institution does not have an established money market savings account (or if an interest rate for such account cannot otherwise be determined in connection with the deposit of such Funds), a comparable interest rate quoted by the Depository Institution and acceptable to Lender (or its Servicerservicer) in its reasonable discretion shall be used. The amount of Borrower's Interest allocated to Funds shall be added to the balance in the Partial Defeasance Reserve and the Replacement Reserve applicable Fund, and shall be disbursed for payment of the items for which other Funds in the Partial Defeasance Reserve and the Replacement Reserve are applicable Fund is to be disbursed. Notwithstanding Any interest earned above the foregoing, to the extent the Property includes residential units, the Security Deposit Account shall bear interest, if required, pursuant to 68 P.S. Section 250.511 which interest earnings Borrower's Interest shall be allocated to Borrower to the extent so required retained by lawLender as compensation for its administration and investment of such Funds.

Interest Payable by Lender. Lender shall cause funds in the Partial Defeasance Reserve and the Replacement Reserve (the "Funds") to be deposited into interest bearing accounts of the type customarily maintained by Lender or its servicing agent for the investment of similar reserves, which accounts may not yield the highest interest rate then available. The Funds shall be held in an account in Lender's name (or such other account name as Lender may elect) at a financial institution or other depository selected by Lender (or its Servicer) in its sole discretion (collectively, the "Depository Institution"). Borrower shall earn no more than an amount of interest on the Funds equal to an amount determined by applying to the average monthly balance of such Funds the quoted interest rate for the Depository Institution's money market savings account, as such rate is determined from time to time (such allocated amount being referred to as "Borrower's Interest"). Lender or its Depository Institution shall be entitled to report under Borrower's Federal tax identification number, Borrower's Interest on the Funds. If the Depository Institution does not have an established money market savings account (or if an interest rate for such account cannot otherwise be determined in connection with the deposit of such Funds), a comparable interest rate quoted by the Depository Institution and acceptable to Lender (or its Servicer) in its reasonable discretion shall be used. The amount of Borrower's Interest allocated to Funds shall be added to the balance in the Partial Defeasance Reserve and the Replacement Reserve and shall be disbursed for payment of the items for which other Funds in the Partial Defeasance Reserve and the Replacement Reserve are to be disbursed. Notwithstanding the foregoing, to the extent the Property includes residential units, the Security Deposit Account shall bear interest, if required, pursuant to 68 P.S. Section § 250.511 which interest earnings shall be allocated to Borrower to the extent so required by law.

Interest Payable by Lender. Lender shall cause funds all monies on deposit in the Partial Defeasance Reserve and the Replacement Reserve (the "Funds") Funds to be deposited into interest bearing accounts of the type customarily maintained by Lender or its servicing agent for the investment of (and may be commingled with) similar reserves, which accounts may not yield the highest interest rate then available. The Funds shall be held in an account in Lender's ’s name (or such other account name as Lender may elect) at a financial institution or other depository selected by Lender (or its Servicerservicer) in its sole but reasonable discretion (collectively, the "“Depository Institution"”). Borrower shall earn no more than an amount of interest on the Funds equal to an amount determined by applying to multiplying the average monthly balance of such Funds by the quoted interest rate for the Depository Institution's ’s money market savings account, as such rate is determined from time to time (such allocated amount being referred to as "“Borrower's ’s Interest"”). Lender or its Depository Institution shall be entitled to report under Borrower's ’s Federal tax identification number, number the Borrower's ’s Interest on the Funds. If the Depository Institution does not have an established money market savings account (or if an interest rate for such account cannot otherwise be determined in connection with the deposit of such Funds), a comparable interest rate quoted by the Depository Institution and acceptable to Lender (or its Servicerservicer) in its reasonable discretion shall be used. The amount of Borrower's ’s Interest allocated to the Funds shall be added to the balance in the Partial Defeasance Reserve and the Replacement Reserve applicable Fund, and shall be disbursed for payment of the items for which other Funds in the Partial Defeasance Reserve and the Replacement Reserve are applicable Fund is to be disbursed. Notwithstanding Any interest earned above the foregoing, to the extent the Property includes residential units, the Security Deposit Account shall bear interest, if required, pursuant to 68 P.S. Section 250.511 which interest earnings Borrower’s Interest shall be allocated to Borrower to the extent so required retained by lawLender as compensation for its administration and investment of such Funds.

Interest Payable by Lender. Lender shall cause funds all monies on deposit in the Partial Defeasance Reserve and the Replacement Reserve (the "Funds") Funds to be deposited into interest bearing accounts of the type customarily maintained by Lender or its servicing agent for the investment of (and may be commingled with) similar reserves, which accounts may not yield the highest interest rate then available. The Funds shall be held in an account in Lender's ’s name (or such other account name as Lender may elect) at a financial institution or other depository selected by Lender (or its Servicerservicer) in its sole discretion (collectively, the "“Depository Institution"”). Borrower shall earn no more than an amount of interest on the Funds equal to an amount determined by applying to the average monthly balance of such Funds the quoted interest rate for the Depository Institution's ’s money market savings account, as such rate is determined from time to time (such allocated amount being referred to as "“Borrower's ’s Interest")”) and Lender shall keep appropriate records of the Borrower’s Interest. Lender or its Depository Institution shall be entitled to report under Borrower's ’s Federal tax identification number, number the Borrower's ’s Interest on the Funds. If the Depository Institution does not have an established money market savings account (or if an interest rate for such account cannot otherwise be determined in connection with the deposit of such Funds), a comparable interest rate quoted by the Depository Institution and acceptable to Lender (or its Servicerservicer) in its reasonable discretion shall be used. The amount of Borrower's ’s Interest allocated to the Funds shall be added to the balance in the Partial Defeasance Reserve and the Replacement Reserve applicable Fund, and shall be disbursed for payment of the items for which other Funds in the Partial Defeasance Reserve and the Replacement Reserve are applicable Fund is to be disbursed. Notwithstanding Any interest earned above the foregoing, to the extent the Property includes residential units, the Security Deposit Account shall bear interest, if required, pursuant to 68 P.S. Section 250.511 which interest earnings Borrower’s Interest shall be allocated to Borrower to the extent so required retained by lawLender as compensation for its administration and investment of such Funds.