Maintenance Capital Reserve in the Event of a Transfer Sample Clauses

Maintenance Capital Reserve in the Event of a Transfer. In the event of a sale or transfer by either party of its interest in the Premises, such party shall transfer to the person who owns or acquires such interest in the Premises or is the transferee of such party’s interest under this Lease, all of such party’s rights with respect to the Maintenance Capital Reserve if it is then held by the Depository, if applicable, subject to the provisions thereof. Upon such transfer, the transferor shall be deemed to be released and relieved from all liability with respect to such deposited monies and the non-transferring party shall look solely to the transferee with respect thereto, and the provisions hereof shall apply to each successive transfer of such party’s rights with respect to such deposits.
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Maintenance Capital Reserve in the Event of a Transfer. In the event of a sale or transfer by either party of its interest in the Premises, such party shall transfer to the person who owns or acquires such interest in the Premises or is the transferee of such party’s interest under this Lease, all of such party’s rights with respect to the Maintenance Capital Reserve if it is then held by the Depository, if applicable, subject to the provisions thereof. Upon such transfer, the transferor shall be deemed to be released and relieved from all liability with respect to such deposited monies and the non-transferring party shall look solely to the transferee with respect thereto, and the provisions hereof shall apply to each successive transfer of such party’s rights with respect to such deposits. Mortgagee and Reserves. Notwithstanding anything in Section 12.02 and Section 12.03 to the contrary, in the event that a Mortgagee (provided such Mortgagee be an Institutional Lender) shall require Tenant to deposit funds for maintaining and replacing Capital Improvements, any amount so deposited by Tenant with such Mortgagee shall be credited against the amount, if any, which Tenant would otherwise be required to deposit in the Maintenance Capital Reserve.
Sample 1

Related to Maintenance Capital Reserve in the Event of a Transfer

  • In the Event of Forecasted Surpluses If the HSP is forecasting a surplus, the Funder may take one or more of the following actions: adjust the amount of Funding to be paid under Schedule A, require the repayment of excess Funding; adjust the amount of any future funding installments accordingly.

  • Deposit Pay ment of The Fixed Reserve Price 5.1. E-Bidders must make deposit payment as required under the Conditions of Sale attached to Proclamation of Sale, i.e. 10% of the reserve price.

  • Termination in the Event of Financial Difficulties If the HSP makes an assignment, proposal, compromise, or arrangement for the benefit of creditors, or is petitioned into bankruptcy, or files for the appointment of a receiver the Funder will consult with the Director before determining whether this Agreement will be terminated. If the Funder terminates this Agreement because a person has exercised a security interest as contemplated by section 107 of the Act, the Funder would expect to enter into a service accountability agreement with the person exercising the security interest or the receiver or other agent acting on behalf of that person where the person has obtained the Director's approval under section 110 of the Act and has met all other relevant requirements of Applicable Law.

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