Common use of Monthly Deposits Clause in Contracts

Monthly Deposits. If at any time the short-term debt rating of Sears is reduced below A-1/P-1 by Standard & Poor's or Xxxxx'x, as applicable, or if at any time Sears is not the Servicer, the Servicer shall deposit, with respect to this Series, an amount into the Collections Account equal to the following: (a) On the third Business Day of each month an amount equal to the sum of the Class Modified Required Amounts for all Classes of this Series for the related Distribution Date; provided that for any date prior to the applicable LIBOR Determination Date, the Class Modified Required Amount for each Class for the related Distribution Date shall be deemed to be 120% of the Class Modified Required Amount for such Class for the immediately preceding Distribution Date; and provided, further that the Servicer shall deposit on the LIBOR Determination Date the positive difference, if any, between the amount so deposited on the third Business Day of the month and the sum of the Class Modified Required Amounts for all Classes for this Series; (b) On the third Business Day of each month if such month is in the Controlled Accumulation Period, the sum of the Class A Controlled Accumulation Amount and the Class B Controlled Accumulation Amount for the related Distribution Date; and (c) On the third Business Day of each month if such month is in the Rapid Amortization Period, an amount equal to the lesser of (i) the estimated Series Principal Collections that the Servicer reasonably expects to collect on behalf of the Trust during such month and (ii) the sum of the Class A Investor Interest and the Class B Investor Interest; provided, however, that the Servicer shall only be required to deposit such amounts to the extent that it reasonably believes that it will collect an amount equal to such amounts on behalf of the Trust with respect to this Series during such month; provided, further, that the Servicer may require the Trustee to withdraw from the Collections Account and pay to it on the first day of the succeeding month, and the Trustee shall so withdraw and pay, any amount by which the amount so deposited exceeds the sum of Series Finance Charge Collections and Series Principal Collections actually collected by the Servicer on behalf of the Trust during such month; and provided, further, that the Servicer may, instead of depositing the amounts described on the dates specified above, or shall, if the Servicer expects to be unable to deposit amounts described above on the dates specified above, (x) deposit with respect to each Business Day of the month an amount equal to the sum of the Series Finance Charge Collections and Class C Principal Collections actually received on such Business Day, until the amount so deposited equals the amount in clause (a), and (y) if such month is during the Controlled Accumulation Period or the Rapid Amortization Period, deposit with respect to each Business Day of the month an amount equal to the sum of the Class A and Class B Principal Collections, plus Class C Principal Collections in excess of those deposited pursuant to clause (x), actually received on such Business Day, until the amount so deposited equals the amount in clause (b), if such Business Day is during the Controlled Accumulation Period, or until the amount so deposited equals the sum of the Class A Investor Interest and the Class B Investor Interest, if such Business Day is during the Rapid Amortization Period, in each case no later than two Business Days after the Date of Processing of such Collections. In the event that on any day following the LIBOR Determination Date with respect to the Interest Accrual Period immediately preceding any Distribution Date, amounts deposited in the Collections Account with respect to clause (a) of this Section exceed the sum of the Class Modified Required Amounts for all Classes of this Series, then the Trustee shall, if so instructed in writing by the Servicer, withdraw the amount of such excess from the Collections Account and transfer it to the Servicer.

Monthly Deposits. If at any time Notwithstanding the short-term debt rating of Sears is reduced below A-1/P-1 by Standard & Poor's or Xxxxx'x, as applicable, or if at any time Sears is not the Servicer, the Servicer shall deposit, with respect to this Series, an amount into the Collections Account equal to the following: (a) On the third Business Day of each month an amount equal to the sum of the Class Modified Required Amounts for all Classes foregoing provisions of this Series for Article 6, Tenant shall pay to Landlord (or to any mortgagee as directed by Landlord), at the related Distribution Date; provided that for any date prior to time when the applicable LIBOR Determination Date, the Class Modified Required Amount for each Class for the related Distribution Date shall be deemed to be 120% monthly installment of the Class Modified Required Amount for such Class for the immediately preceding Distribution Date; and provided, further that the Servicer shall deposit on the LIBOR Determination Date the positive difference, if any, between the amount so deposited on the third Business Day of the month and the sum of the Class Modified Required Amounts for all Classes for this Series; (b) On the third Business Day of each month if such month minimum rent is in the Controlled Accumulation Period, the sum of the Class A Controlled Accumulation Amount and the Class B Controlled Accumulation Amount for the related Distribution Date; and (c) On the third Business Day of each month if such month is in the Rapid Amortization Periodpayable, an amount equal to the lesser of one-twelfth (i1/12th) the estimated Series Principal Collections that the Servicer reasonably expects to collect on behalf of the Trust annual Impositions as reasonably estimated by Landlord. Tenant also shall pay to Landlord or to such mortgagee, as the case may be, at least thirty (30) days before any fine, penalty, interest or cost may be added thereto for the non-payment thereof, the amount by which the Impositions becoming due exceed the monthly payments on account thereof previously made by Tenant. The amounts paid by Tenant pursuant to this Paragraph (c) shall be used to pay the Impositions, but such amounts shall not be deemed to be trust funds and no interest shall be payable thereon. Within one hundred twenty (120) days after the end of each calendar year, Landlord shall submit to Tenant a statement of the actual amount of Impositions for such calendar year, and the actual amount owed by Tenant, and within thirty (30) days after receipt of such statement, Tenant shall pay any deficiency between the actual amount owed and the estimates paid during such month and calendar year, or in the event of overpayment, Landlord shall credit the amount of such overpayment toward the next installment of rent owed by Tenant or remit such overpayment to Tenant within thirty (ii30) days if the sum Term has expired or has been terminated. The obligations in the immediately preceding sentence shall survive the expiration or any earlier termination of this Lease. If the Class A Investor Interest and the Class B Investor Interest; provided, however, that the Servicer Commencement Date shall only be required to deposit such amounts to the extent that it reasonably believes that it will collect an amount equal to such amounts fall on behalf of the Trust with respect to this Series during such month; provided, further, that the Servicer may require the Trustee to withdraw from the Collections Account and pay to it on other than the first day of the succeeding monthcalendar year, and and/or if the Trustee Expiration Date shall so withdraw and pay, any amount by which fall on other than the amount so deposited exceeds the sum of Series Finance Charge Collections and Series Principal Collections actually collected by the Servicer on behalf last day of the Trust during such month; and providedcalendar year, further, that the Servicer may, instead of depositing the amounts described on the dates specified above, or shall, if the Servicer expects to be unable to deposit amounts described above on the dates specified above, (x) deposit with respect to each Business Day Tenant’s proportionate share of the month an amount equal to the sum Impositions for such calendar year shall be apportioned prorata. Landlord may correct any statement of the Series Finance Charge Collections and Class C Principal Collections actually received on such Business Day, until the amount so deposited equals the amount in clause expense for twelve (a12) months after it is initially issued (but not later), and (y) if such month is during the Controlled Accumulation Period or the Rapid Amortization Period, deposit with respect to each Business Day of the month an amount equal to the sum of the Class A and Class B Principal Collections, plus Class C Principal Collections in excess of those deposited pursuant to clause (x), actually received on such Business Day, until the amount so deposited equals the amount in clause (b), if such Business Day is during the Controlled Accumulation Period, or until the amount so deposited equals the sum of the Class A Investor Interest and the Class B Investor Interest, if such Business Day is during the Rapid Amortization Period, in each case no later than two Business Days after the Date of Processing of such Collections. In the event that on any day following the LIBOR Determination Date with respect to the Interest Accrual Period immediately preceding any Distribution Date, amounts deposited in the Collections Account with respect to clause (a) of this Section exceed the sum of the Class Modified Required Amounts for all Classes of this Series, then the Trustee shall, if so instructed in writing by the Servicer, withdraw the amount of such excess from the Collections Account and transfer it to the Servicer.

Monthly Deposits. If at any time the short-term debt rating of Sears is reduced below A-1/P-1 by Standard & Poor's or Xxxxx'xMoody's, as applicable, or if xx xx at any time Sears is not the Servicer, the Servicer shall deposit, with respect to this Series, an amount into the Collections Account equal to the following: (a) On the third Business Day of each month an amount equal to the sum of the Class Modified Required Amounts for all Classes of this Series for the related Distribution Date; provided that for any date prior to the applicable LIBOR Determination Date, the Class Modified Required Amount for each Class for the related Distribution Date shall be deemed to be 120% of the Class Modified Required Amount for such Class for the immediately preceding Distribution Date; and provided, further that the Servicer shall deposit on the LIBOR Determination Date the positive difference, if any, between the amount so deposited on the third Business Day of the month and the sum of the Class Modified Required Amounts for all Classes for this Series; (b) On the third Business Day of each month if such month is in the Controlled Accumulation Period, the sum of the Class A Controlled Accumulation Amount and the Class B Controlled Accumulation Amount for the related Distribution Date; and (c) On the third Business Day of each month if such month is in the Rapid Amortization Period, an amount equal to the lesser of (i) the estimated Series Principal Collections that the Servicer reasonably expects to collect on behalf of the Trust during such month and (ii) the sum of the Class A Investor Interest and the Class B Investor Interest; provided, however, that the Servicer shall only be required to deposit such amounts to the extent that it reasonably believes that it will collect an amount equal to such amounts on behalf of the Trust with respect to this Series during such month; provided, further, that the Servicer may require the Trustee to withdraw from the Collections Account and pay to it on the first day of the succeeding month, and the Trustee shall so withdraw and pay, any amount by which the amount so deposited exceeds the sum of Series Finance Charge Collections and Series Principal Collections actually collected by the Servicer on behalf of the Trust during such month; and provided, further, that the Servicer may, instead of depositing the amounts described on the dates specified above, or shall, if the Servicer expects to be unable to deposit amounts described above on the dates specified above, (x) deposit with respect to each Business Day of the month an amount equal to the sum of the Series Finance Charge Collections and Class C Principal Collections actually received on such Business Day, until the amount so deposited equals the amount in clause (a), and (y) if such month is during the Controlled Accumulation Period or the Rapid Amortization Period, deposit with respect to each Business Day of the month an amount equal to the sum of the Class A and Class B Principal Collections, plus Class C Principal Collections in excess of those deposited pursuant to clause (x), actually received on such Business Day, until the amount so deposited equals the amount in clause (b), if such Business Day is during the Controlled Accumulation Period, or until the amount so deposited equals the sum of the Class A Investor Interest and the Class B Investor Interest, if such Business Day is during the Rapid Amortization Period, in each case no later than two Business Days after the Date of Processing of such Collections. In the event that on any day following the LIBOR Determination Date with respect to the Interest Accrual Period immediately preceding any Distribution Date, amounts deposited in the Collections Account with respect to clause (a) of this Section exceed the sum of the Class Modified Required Amounts for all Classes of this Series, then the Trustee shall, if so instructed in writing by the Servicer, withdraw the amount of such excess from the Collections Account and transfer it to the Servicer.

Monthly Deposits. If at any time Upon Lender’s request after and during the shortcontinuance of a Material Adverse Effect or an Event of Default, Borrower shall deposit with Lender in a non-term debt rating of Sears is reduced below A-1/P-1 by Standard & Poor's or Xxxxx'x, as applicableinterest bearing account, or if at any time Sears is not the Servicer, the Servicer shall depositLender’s request, with respect its servicing agent, on the first day of each and every month, commencing with the date the next payment of interest and/or principal and interest shall become due under the Note, a deposit to pay the Assessments (as defined in Section 3.3 hereof) and insurance premiums which will next become due on the insurance policies required by this Series, Security Instrument (hereinafter collectively referred to as the “Charges”) in an amount into the Collections Account equal to the followingto: (ai) On One-twelfth (1/12th) of the third Business Day of each month annual Assessments next to become due upon the Collateral; provided that, with the first such deposit, there shall be deposited in addition an amount equal as estimated by Lender which, when added to monthly deposits to be made thereafter as provided for herein, shall assure to Lender’s satisfaction that there will be sufficient funds on deposit to pay the sum Impositions as they come due; plus (ii) One-twelfth (1/12th) of the Class Modified Required Amounts for all Classes annual premiums on each policy of insurance required to be maintained by this Series for the related Distribution DateSecurity Instrument; provided that for any date prior to with the applicable LIBOR Determination Date, the Class Modified Required Amount for each Class for the related Distribution Date first such deposit there shall be deemed to be 120% of the Class Modified Required Amount for such Class for the immediately preceding Distribution Date; and provideddeposited, further that the Servicer shall deposit on the LIBOR Determination Date the positive difference, if any, between the amount so deposited on the third Business Day of the month and the sum of the Class Modified Required Amounts for all Classes for this Series; (b) On the third Business Day of each month if such month is in the Controlled Accumulation Period, the sum of the Class A Controlled Accumulation Amount and the Class B Controlled Accumulation Amount for the related Distribution Date; and (c) On the third Business Day of each month if such month is in the Rapid Amortization Periodaddition, an amount equal to one-twelfth (1/12th) of such annual insurance premiums multiplied by the lesser number of (i) months elapsed between the estimated Series Principal Collections date premiums on each policy were last paid to and including the date of deposit, provided that the Servicer reasonably expects amount of such deposits shall be based upon Lender’s estimate as to collect on behalf the amount of Assessments and insurance premiums next to be payable and may require that the full amount of such payment will be available to Lender at least one month in advance of the Trust during such month due date. Prior to the payment due dates, Borrower shall obtain the original Assessments and (ii) insurance premiums bills and forward them immediately to Lender upon Borrower’s receipt thereof. Lender will, upon timely presentation to Lender by the sum Borrower of the Class A Investor Interest and bills therefor, pay the Class B Investor Interest; provided, however, that the Servicer shall only be required to deposit Charges from such amounts deposits directly to the extent that it reasonably believes that it will collect an amount equal to such amounts on behalf of taxing authority or the Trust with respect to this Series during such month; provided, further, that insurance carrier as the Servicer case may require the Trustee to withdraw from the Collections Account and pay to it on the first day of the succeeding month, and the Trustee shall so withdraw and pay, any amount by which the amount so deposited exceeds the sum of Series Finance Charge Collections and Series Principal Collections actually collected by the Servicer on behalf of the Trust during such month; and provided, further, that the Servicer may, instead of depositing the amounts described on the dates specified abovebe, or shall, if the Servicer expects to be unable to deposit amounts described above on the dates specified above, (x) deposit with respect to each Business Day of the month an return such amount equal to the sum of the Series Finance Charge Collections and Class C Principal Collections actually received on Borrower so it can make such Business Day, until the amount so deposited equals the amount in clause (a), and (y) if such month is during the Controlled Accumulation Period or the Rapid Amortization Period, deposit with respect to each Business Day of the month an amount equal to the sum of the Class A and Class B Principal Collections, plus Class C Principal Collections in excess of those deposited pursuant to clause (x), actually received on such Business Day, until the amount so deposited equals the amount in clause (b), if such Business Day is during the Controlled Accumulation Period, or until the amount so deposited equals the sum of the Class A Investor Interest and the Class B Investor Interest, if such Business Day is during the Rapid Amortization Period, in each case no later than two Business Days after the Date of Processing of such Collectionspayments. In the event that the deposits on any day following the LIBOR Determination Date with respect hand shall not be sufficient to the Interest Accrual Period immediately preceding any Distribution Date, amounts deposited in the Collections Account with respect to clause (a) of this Section exceed the sum pay all of the Class Modified Required Amounts for all Classes of this Seriesestimated Charges when the same shall become due from time to time, or the prior deposits shall be less than the currently estimated monthly amounts, then the Trustee shall, if so instructed in writing by Borrower shall immediately pay to Lender on demand any amount necessary to make up the Servicer, withdraw the amount deficiency. The excess of any such excess from the Collections Account and transfer it to the Servicerdeposits shall be credited towards subsequent Charges.