Mandatory Deposits Clause Samples

Mandatory Deposits. The following funds must be deposited into each respective Custodial T&I Account: (a) related Borrowers' Escrow Funds; (b) related T&I Advances; (c) the remaining balance of Title Insurance loss drafts; (d) rent receipts to offset any related T&I Advances by the Servicer; (e) unapplied funds; and (f) Liquidation Proceeds from a related Mortgage Loan that offset a deficit balance in the related Borrower's Escrow Funds.
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Mandatory Deposits. The following funds must be deposited into each related Custodial P&I Account within two Business Days after the Servicer's receipt of such amounts, or in the case of clauses (d) and (e) hereof, on the Remittance Date or, in the case of clause (g) hereof, on the Business Day after the Servicer's receipt of the Borrower's required monthly payment under the related subsidy agreement: (a) Principal collections from related Mortgage Loans (including Prepayments in Full and Curtailments), together with Month End Interest, if applicable; (b) Interest collections from related Mortgage Loans (net of Servicing Fees or other compensation of the Servicer as set forth in Section 4.6.1); (c) Liquidation Proceeds and Insurance Proceeds from related Mortgage Loans other than proceeds held in an escrow account and applied to the restoration and repair of the related Mortgaged Property; (d) related P&I Advances; (e) any related PMI Advances; (f) the proceeds of any purchase, or substitution under a purchase agreement, of a related Mortgage Loan by the Servicer or a Representing Party, or sale of an REO; (g) an amount from the Custodial Subsidy Account that when added to the Borrower's payment will equal the full monthly amount due under the related Mortgage Note; and (h) any amounts received pursuant to Section 15.7.
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Mandatory Deposits. In addition to all other requirements in this Agreement or the other Loan Documents to deposit funds to the Account, the Borrower shall deposit (or cause to be deposited) each of the following amounts into the Account (each of which shall be in addition to and not duplicative of, or a substitution for, any other requirement under this Section 2.27 or any other provision of this Agreement or the Loan Documents (including without limitation, Sections 2.25 and 2.26)): (a) an aggregate principal amount equal to (i) from the Second Amendment Effective Date through August 15, 2020, $5,000,000, (ii) from the Second Amendment Effective Date through September 15, 2020, $10,000,000, (iii) from the Second Amendment Effective Date through October 15, 2020, $15,000,000, (iv) from the Second Amendment Effective Date through November 15, 2020, $20,000,000 and (v) from the Second Amendment Effective Date through December 15, 2020, $25,000,000 (or if any such date is not a Business Day, then the next succeeding Business Day). (b) Within five (5) Business Days after any Group Member incurs any Indebtedness pursuant to Section 7.2(q) or Section 7.2(s), an amount equal to the aggregate amount of all cash proceeds received in respect thereof by such Group Member net of all investment banking fees, discounts and commissions, legal fees, consulting fees, accountants’ fees, underwriting discounts and commissions and other fees and expenses, actually incurred in connection therewith; provided that the Borrower may elect to apply any such net cash proceeds from Indebtedness incurred pursuant to Section 7.2(q) or Section 7.2(s), as applicable, to the prepayment of loans under the Subsidiary Loan Documents only to (and not in excess of) the extent to which a mandatory prepayment in respect of such net cash proceeds is required under the terms of the Subsidiary Loan Documents (with any remaining net cash proceeds deposited in the Account in accordance with the terms of this Section 2.27(b)). (c) Within five (5) Business Days after any Group Member incurs any Indebtedness pursuant to Section 7.2(r) that is secured by a Lien that is pari passu with the Liens securing the Obligations, an amount equal to the aggregate amount of all cash proceeds received in respect thereof by such Group Member net of all investment banking fees, discounts and commissions, legal fees, consulting fees, accountants’ fees, underwriting discounts and commissions and other fees and expenses, actually incurred i...
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Mandatory Deposits. The Loan Parties shall, and shall cause their Subsidiaries, to pay directly into the Full Dominion Account any Net Cash Proceeds of any issuance of Replacement Convertible Notes not used to repurchase, redeem, repay or otherwise satisfy Existing Convertible Notes substantially simultaneously with (and, in any event within two (2) Business Day after) the issuance of such Replacement Convertible Notes.
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Mandatory Deposits. 40 6.3.2. Permissible Withdrawals......................................40 6.3.3. Account Requirements.........................................41 6.3.4. Account Balance..............................................41 Section 6.4 Eligible Account Investments.................................41 6.4.1. Eligible Investments Permitted...............................41 6.4.2. Eligible Investment Restrictions.............................41 6.4.3. Eligible Investment Income...................................41 6.4.4. Eligible Investment Losses...................................41 6.4.5. Eligible Investments Reports.................................42 6.4.6. Inter-Company Uses of Funds..................................42
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Mandatory Deposits. Proceeds of the Term Loans in an amount not less than the principal amount of the Existing Parent Notes outstanding on the Funding Date that are not repaid or repurchased on the Funding Date shall be paid directly into the Full Dominion Account.
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Mandatory Deposits. 41 6.2.2. Optional Deposits............................................42 6.2.3. Permissible Withdrawals......................................42 6.2.4. Account Beneficiary..........................................43 6.2.5.
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Mandatory Deposits. The following funds must be deposited into each related Custodial P&I Account within two Business Days after the Servicer's receipt of such amounts, or in the case of clauses (d) and (e) hereof, on the Remittance Date or, in the case of clause (g) hereof, on the Business Day after the Servicer's receipt of the Borrower's required monthly payment under the related subsidy agreement: (a) Principal collections from related Mortgage Loans (including Prepayments in Full and Curtailments), together with Month End Interest, if applicable; (b) Interest collections from related Mortgage Loans (net of Servicing Fees or other compensation of the Servicer as set forth in Section 4.6.1); (c) Liquidation Proceeds and Insurance Proceeds from related Mortgage Loans other than proceeds held in an escrow account and applied to the restoration and repair of the related Mortgaged Property; (d) related P&I Advances; (e) any related PMI Advances;
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Mandatory Deposits. 43 6.3.2. Permissible Withdrawals......................................43 6.3.3.
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Related to Mandatory Deposits

  • Cash Deposits Within the limitations of this Subsection, Purchaser shall make cash deposits to meet Purchaser’s obligations within 15 days of billing by Forest Service. Deposits shall be made to Forest Service, U.S.D.A., by mail or delivery to the address to be fur- nished by Forest Service. Forest Service shall explain the bill at the time it requests each deposit.

  • Funding Account The Administrative Agent shall have received a notice setting forth the deposit account of the Borrower (the “Funding Account”) to which the Administrative Agent is authorized by the Borrower to transfer the proceeds of any Borrowings requested or authorized pursuant to this Agreement.

  • Security Deposit Account If applicable law or a Lender requires a segregated account of Tenant security deposits, Property Manager will open a separate account at a reputable bank or other financial institution. Property Manager may return such deposits to any Tenant in the ordinary course of business in accordance with the terms of the applicable Lease.

  • Targeted Deposits to the Accumulation Reserve Account The deposit targeted to be made to the Accumulation Reserve Subaccount for the Class A( - ) Notes for any Due Period during the Accumulation Reserve Funding Period will be an amount equal to the Targeted Accumulation Reserve Subaccount Deposit minus any amount on deposit in the Accumulation Reserve Subaccount for the Class A( - ) Notes.]

  • Reserve Accounts All unexpended funds in project reserve accounts shall remain with the Project to be used for the benefit of the property and/or its residents. The minimum replacement reserve deposit for projects shall be $ per unit per year. The on- going funding of the replacement reserve in this amount is a requirement of this Agreement during the Compliance Period, and the Owner shall maintain these reserves in a segregated account. Funds in the replacement reserve shall only be used for capital improvements or repairs. An operating reserve shall be funded in an amount equal to three months of estimated operating expenses and debt service under stabilized occupancy. Additional funding will be required only if withdrawals result in a reduction of the operating reserve account balance to 50% or less of the originally funded amount. An equal, verified operating reserve requirement of any other debt or equity source may be used as a substitute, and the reserve may be released following achievement of a minimum annual debt service ratio of 1.15 for three consecutive years following stabilized occupancy only to pay deferred developer fee. Upon Committee approval, operating reserve amounts in excess of industry norms may be considered “reasonable costs,” for purposes of this subsection, only for homeless assistance projects under the Non- Profit Set-Aside, as described in Section 10315(b), Special Needs projects, HOPE VI projects, or project based Section 8 projects. The original Sources and Uses budget and the final cost certification shall demonstrate the initial and subsequent funding of the operating reserves.