Common use of Monthly Replacement Reserve Deposits Clause in Contracts

Monthly Replacement Reserve Deposits. Borrower shall deposit the applicable Monthly Replacement Reserve Deposit into the Replacement Reserve Account on each Payment Date. Payment and Deliverables for Replacements, Repairs, and Restoration. Borrower shall: pay all invoices for Replacements, Repairs, and Restoration, regardless of whether funds on deposit in the applicable Reserve/Escrow Account are sufficient to pay the full amount of such invoices, prior to any request for disbursement from such Reserve/Escrow Account (unless Lender has agreed to issue joint checks in connection with a particular Replacement, Repair, or Restoration); pay all applicable fees and charges of any Governmental Authority on account of the Replacements, Repairs, and Restoration, as applicable; provide evidence satisfactory to Lender of completion of the Replacements, Restoration (within the period required under Section 9.3(kkkk)(1)(kkkk)(1)(B)(xxiii) or such other period required by Lender), and any Required Repairs (within the Completion Period or within such other period or by such other date set forth in the Required Repair Schedule and any Borrower Requested Repairs and Additional Lender Repairs (by the date specified by Lender for any such Borrower Requested Repairs or Additional Lender Repairs)); and prior to commencement of any Restoration, Borrower shall deliver to Lender, for Lender’s review and approval:

Monthly Replacement Reserve Deposits. Borrower shall deposit the applicable Monthly Replacement Reserve Deposit into the Replacement Reserve Account on each Payment Date. Payment and Deliverables for Replacements, Repairs, and Restoration. Borrower shall: pay all invoices for Replacements, Repairs, and Restoration, regardless of whether funds on deposit in the applicable Reserve/Escrow Account are sufficient to pay the full amount of such invoices, prior to any request for disbursement from such Reserve/Escrow Account (unless Lender has agreed to issue joint checks in connection with a particular Replacement, Repair, or Restoration); pay all applicable fees and charges of any Governmental Authority on account of the Replacements, Repairs, and Restoration, as applicable; provide evidence satisfactory to Lender of completion of the Replacements, Restoration (within the period required under Section 9.3(kkkk)(1)(kkkk)(1)(B)(xxiii9.3(yyyy)(1)(yyyy)(xxv) or such other period required by Lender), and any Required Repairs (within the Completion Period or within such other period or by such other date set forth in the Required Repair Schedule and any Borrower Requested Repairs and Additional Lender Repairs (by the date specified by Lender for any such Borrower Requested Repairs or Additional Lender Repairs)); and prior to commencement of any Restoration, Borrower shall deliver to Lender, for Lender’s review and approval:

Monthly Replacement Reserve Deposits. Borrower shall deposit the applicable Monthly Replacement Reserve Deposit into the Replacement Reserve Account on each Payment Date. Payment and Deliverables for Replacements, Repairs, and Restoration. Borrower shall: pay all invoices for Replacements, Repairs, and Restoration, regardless of whether funds on deposit in the applicable Reserve/Escrow Account are sufficient to pay the full amount of such invoices, prior to any request for disbursement from such Reserve/Escrow Account (unless Lender has agreed to issue joint checks in connection with a particular Replacement, Repair, or Restoration); pay all applicable fees and charges of any Governmental Authority on account of the Replacements, Repairs, and Restoration, as applicable; provide evidence satisfactory to Lender of completion of the Replacements, Restoration (within the period required under Section 9.3(kkkk)(1)(kkkk)(1)(B)(xxiii9.3(kkkk)(1)(B)(xxiii) or such other period required by Lender), and any Required Repairs (within the Completion Period or within such other period or by such other date set forth in the Required Repair Schedule and any Borrower Requested Repairs and Additional Lender Repairs (by the date specified by Lender for any such Borrower Requested Repairs or Additional Lender Repairs)); and prior to commencement of any Restoration, Borrower shall deliver to Lender, for Lender’s review and approval:

Monthly Replacement Reserve Deposits. Borrower shall deposit the applicable Monthly Replacement Reserve Deposit into the Replacement Reserve Account on each Payment Date. Payment and Deliverables for Replacements, Repairs, and Restoration. Borrower shall: pay all invoices for Replacements, Repairs, and Restoration, regardless of whether funds on deposit in the applicable Reserve/Escrow Account are sufficient to pay the full amount of such invoices, prior to any request for disbursement from such Reserve/Escrow Account (unless Lender has agreed to issue joint checks in connection with a particular Replacement, Repair, or Restoration); pay all applicable fees and charges of any Governmental Authority on account of the Replacements, Repairs, and Restoration, as applicable; provide evidence satisfactory to Lender of completion of the Replacements, Restoration (within the period required under Section 9.3(kkkk)(1)(kkkk)(1)(B)(xxiii9.3(mmmm)(1)(B)(xxiii) or such other period required by Lender), and any Required Repairs (within the Completion Period or within such other period or by such other date set forth in the Required Repair Schedule and any Borrower Requested Repairs and Additional Lender Repairs (by the date specified by Lender for any such Borrower Requested Repairs or Additional Lender Repairs)); and prior to commencement of any Restoration, Borrower shall deliver to Lender, for Lender’s review and approval:

Monthly Replacement Reserve Deposits. Borrower shall deposit the applicable Monthly Replacement Reserve Deposit into the Replacement Reserve Account on each Payment Date. Payment and Deliverables for Replacements, Repairs, and Restoration. Borrower shall: pay all invoices for Replacements, Repairs, and Restoration, regardless of whether funds on deposit in the applicable Reserve/Escrow Account are sufficient to pay the full amount of such invoices, prior to any request for disbursement from such Reserve/Escrow Account (unless Lender has agreed to issue joint checks in connection with a particular Replacement, Repair, or Restoration); pay all applicable fees and charges of any Governmental Authority on account of the Replacements, Repairs, and Restoration, as applicable; provide evidence satisfactory to Lender of completion of the Replacements, Restoration (within the period required under Section 9.3(kkkk)(1)(kkkk)(1)(B)(xxiii9.03(b)(1)(B)(iv) or such other period required by Lender), and any Required Repairs (within the Completion Period or within such other period or by such other date set forth in the Required Repair Schedule and any Borrower Requested Repairs and Additional Lender Repairs (by the date specified by Lender for any such Borrower Requested Repairs or Additional Lender Repairs)); and prior to commencement of any Restoration, Borrower shall deliver to Lender, for Lender’s review and approval: