Principal Amortization Reserve. (1) The DSCR shall be calculated by Lender on each Calculation Date for the most recent Calculation Period. At all times prior to the Maturity Date, if the DSCR on the most recent Calculation Date is less than the Required Coverage Standard, Borrower shall, in addition to the regularly scheduled monthly payments of interest due under the Note, deposit with Lender on or before the twenty-fifth (25th) day of each month 100% of the Net Cash Flow for the immediately preceding Accounting Period.
Appears in 3 contracts
Samples: Loan Agreement (Servico Market Center Inc), Loan Agreement (Servico Market Center Inc), Loan Agreement (Servico Market Center Inc)
Principal Amortization Reserve. (1a) The DSCR shall be calculated by Lender on each Calculation Date for the most recent Calculation Period. At all times prior to the Maturity Date, if the DSCR on the most recent Calculation Date is less than the Required Coverage Standard, Borrower shall, in addition to the regularly scheduled monthly payments of interest due under the Note, deposit with Lender on or before the twenty-fifth (25th) day of each month 100% of the Net Cash Flow for the immediately preceding Accounting Period.
Appears in 1 contract
