Common use of Release of Reserve Funds Clause in Contracts

Release of Reserve Funds. (a) Upon written request from Borrower and satisfaction of the requirements set forth in this Agreement, Lender shall disburse to Borrower within thirty (30) days amounts from (i) the Required Repair Account to the extent necessary to pay for or reimburse Borrower for the actual costs of each Required Repair (but not exceeding one hundred twenty-five percent (125%) of the original estimated cost of such Required Repair as set forth on Schedule 9.1, unless Lender has agreed to reimburse Borrower for such excess cost pursuant to Section 9.7(f)) or (ii) the FF&E Reserve Account to the extent necessary to pay for or reimburse Borrower for the actual costs of any approved Replacements (including in both cases, without limitation, any project management fees, construction management fees, and other similar fees, whether owed to any Manager or otherwise). Notwithstanding the preceding sentence, in no event shall Lender be required to (x) disburse any amounts which would cause the amount of funds remaining in the Required Repair Account after any disbursement (other than with respect to the final disbursement) to be less than one hundred twenty-five percent (125%) of the then current estimated cost of completing all remaining Required Repairs for the applicable Individual Property, (y) disburse funds from any of the Reserve Accounts if an Event of Default exists, or (z) disburse funds from the FF&E Reserve Account to reimburse Borrower for the costs of routine repairs or maintenance to any Individual Property or for costs which are to be reimbursed from funds held in the Required Repair.

Release of Reserve Funds. (a) Upon written request from Borrower and satisfaction of the requirements set forth in this Agreement, Lender shall disburse to Borrower within thirty (30) days amounts from (i) the Required Repair Account to the extent necessary to pay for or reimburse Borrower for the actual costs of each Required Repair (but not exceeding one hundred twenty-five percent (125%) % of the original estimated cost of such Required Repair as set forth on Schedule 9.1I, unless Lender has agreed to reimburse Borrower for such excess cost pursuant to Section 9.7(f9.5(f)) or (ii) the FF&E Replacement Reserve Account to the extent necessary to pay for or reimburse Borrower for the actual costs of any approved Replacements (including in both cases, without limitation, any project management fees, construction management fees, and other similar fees, whether owed to any Manager or otherwise)Replacements. Notwithstanding the preceding sentence, in no event shall Lender be required to (x) disburse any amounts which would cause the amount of funds remaining in the Required Repair Account after any disbursement (other than with respect to the final disbursement) to be less than one hundred twenty-five percent (125%) % of the then current estimated cost of completing all remaining Required Repairs for the applicable Individual Property, (y) disburse funds from any of the Reserve Accounts if an Event of Default exists, or (z) disburse funds from the FF&E Replacement Reserve Account to reimburse Borrower for the costs of routine repairs or maintenance to any Individual the Property or for costs which are to be reimbursed from funds held in the Required RepairRepair Account.

Release of Reserve Funds. (a) Upon written request from Borrower and satisfaction of the requirements set forth in this Agreement, Lender shall disburse to Borrower within thirty (30) days amounts from (i) the Required Repair Account to the extent necessary to pay for or reimburse Borrower for the actual costs of each Required Repair (but not exceeding one hundred twenty-five percent (125%) of the original estimated cost of such Required Repair as set forth on Schedule 9.1, unless Lender has agreed to reimburse Borrower for such excess cost pursuant to Section 9.7(f)) or (ii) the FF&E Replacement Reserve Account to the extent necessary to pay for or reimburse Borrower for the actual costs of any approved Replacements (including in both cases, without limitation, any project management fees, construction management fees, and other similar fees, whether owed to any Manager or otherwise)Replacements. Notwithstanding the preceding sentence, in no event shall Lender be required to (x) disburse any amounts which would cause the amount of funds remaining in the Required Repair Account after any disbursement (other than with respect to the final disbursement) to be less than one hundred twenty-five percent (125%) of the then current estimated cost of completing all remaining Required Repairs for the applicable Individual Property, (y) disburse funds from any of the Reserve Accounts if an Event of Default exists, or (z) disburse funds from the FF&E Replacement Reserve Account to reimburse Borrower for the costs of routine repairs or maintenance to any Individual the Property or for costs which are to be reimbursed from funds held in the Required RepairRepair Account.

Release of Reserve Funds. (a) Upon written request from a Borrower and satisfaction of the requirements set forth in this Agreement, Lender shall disburse to the related Borrower within thirty (30) days amounts from (i) the Required Repair Account to the extent necessary to pay for or reimburse the related Borrower for the actual costs of each Required Repair (but not exceeding one hundred twenty-five percent (125%) % of the original estimated cost of such Required Repair as set forth on Schedule 9.1I, unless Lender has agreed to reimburse such Borrower for such excess cost pursuant to Section 9.7(f9.5(f)) or (ii) the FF&E Replacement Reserve Account to the extent necessary to pay for or reimburse such Borrower for the actual costs of any approved Replacements (including in both cases, without limitation, any project management fees, construction management fees, and other similar fees, whether owed to any Manager or otherwise)Replacements. Notwithstanding the preceding sentence, in no event shall Lender be required to (x) disburse any amounts which would cause the amount of funds remaining in the Required Repair Account after any disbursement (other than with respect to the final disbursement) to be less than one hundred twenty-five percent (125%) % of the then current estimated cost of completing all remaining Required Repairs for the applicable related Individual Property, (y) disburse funds from any of the Reserve Accounts if an Event of Default exists, or (z) disburse funds from the FF&E Replacement Reserve Account to reimburse the related Borrower for the costs of routine repairs or maintenance to any the related Individual Property or for costs which are to be reimbursed from funds held in the Required RepairRepair Account.

Release of Reserve Funds. (a) Upon written request from Borrower and satisfaction of the requirements set forth in this Agreement, Lender shall disburse to Borrower within thirty (30) days amounts from (i) the Required Repair Account to the extent necessary to pay for or reimburse Borrower for the actual costs of each Required Repair (but not exceeding one hundred twenty-five percent (125%) % of the original estimated cost of such Required Repair as set forth on Schedule 9.1I, unless Lender has agreed to reimburse Borrower for such excess cost pursuant to Section 9.7(f9.05(f)) or (ii) the FF&E Replacement Reserve Account to the extent necessary to pay for or reimburse Borrower for the actual costs of any approved Replacements (including in both cases, without limitation, any project management fees, construction management fees, and other similar fees, whether owed to any Manager or otherwise)Replacements. Notwithstanding the preceding sentence, in no event shall Lender be required to (x) disburse any amounts which would cause the amount of funds remaining in the Required Repair Account after any disbursement (other than with respect to the final disbursement) to be less than one hundred twenty-five percent (125%) % of the then current estimated cost of completing all remaining Required Repairs for the applicable Individual Property, (y) disburse funds from any of the Reserve Accounts if an Event of Default exists, or (z) disburse funds from the FF&E Replacement Reserve Account to reimburse Borrower for the costs of routine repairs or maintenance to any Individual the Property or for costs which are to be reimbursed from funds held in the Required RepairRepair Account.

Release of Reserve Funds. (a) Upon written request from Borrower and satisfaction of the requirements set forth in this Agreement, Lender shall disburse to Borrower within thirty (30) days amounts from (i) the Required Repair Account to the extent necessary to pay for or reimburse Borrower for the actual costs of each Required Repair (but not exceeding one hundred twenty-five percent (125%) of the original estimated cost of such Required Repair as set forth on Schedule 9.1, unless Lender has agreed to reimburse Borrower for such excess cost pursuant to Section 9.7(f)) or (ii) the FF&E Reserve Account to the extent necessary to pay for or reimburse Borrower for the actual costs of any approved Replacements (including in both cases, without limitation, any project management fees, construction management fees, and other similar fees, whether owed to any Manager or otherwise). Notwithstanding the preceding sentence, in no event shall Lender be 104 required to (x) disburse any amounts which would cause the amount of funds remaining in the Required Repair Account after any disbursement (other than with respect to the final disbursement) to be less than one hundred twenty-five percent (125%) of the then current estimated cost of completing all remaining Required Repairs for the applicable Individual Property, (y) disburse funds from any of the Reserve Accounts if an Event of Default exists, or (z) disburse funds from the FF&E Reserve Account to reimburse Borrower for the costs of routine repairs or maintenance to any Individual Property or for costs which are to be reimbursed from funds held in the Required Repair.

Release of Reserve Funds. (a) Upon written request from Borrower and satisfaction of the requirements set forth in this AgreementSection 9.5, Lender shall disburse to Borrower within thirty (30) days amounts from (i) the Required Repair Account to the extent necessary to pay for or to reimburse Borrower for the actual costs of each Required Repair (but not exceeding one hundred twenty-five percent (125%) % of the original estimated cost of such Required Repair as set forth on Schedule 9.1I, unless Lender has agreed to reimburse Borrower for such excess cost pursuant to Section 9.7(f9.5(f)) or (ii) the FF&E Replacement Reserve Account to the extent necessary to pay for or reimburse Borrower for the actual costs of any approved Replacements (including in both cases, without limitation, any project management fees, construction management fees, and other similar fees, whether owed to any Manager or otherwise)Replacements. Notwithstanding the preceding sentence, in no event shall Lender be required to (x) disburse any amounts which would cause the amount of funds remaining in the Required Repair Account after any disbursement (other than with respect to the final disbursement) to be less than one hundred twenty-five percent (125%) % of the then current estimated cost of completing all remaining Required Repairs for the applicable Individual Property, (y) disburse funds from any of the Reserve Accounts if an Event of Default exists, or (z) disburse funds from the FF&E Replacement Reserve Account to reimburse Borrower for the costs of routine repairs or maintenance to any Individual the Property or for costs which are to be reimbursed from funds held in the Required RepairRepair Account.

Release of Reserve Funds. (a) Upon written request from Borrower and satisfaction of the requirements set forth in this AgreementSection 8.5(a), Lender shall disburse to Borrower within thirty (30) days amounts from (i) the Required Repair Account to the extent necessary to pay for or to reimburse Borrower for the actual costs of each Required Repair (but not exceeding one hundred twenty-five percent (125%) % of the original estimated cost of such Required Repair as set forth on Schedule 9.1Exhibit C, unless Lender has otherwise agreed to reimburse Borrower for such excess cost pursuant to Section 9.7(f)by Lender) or (ii) the FF&E Replacement Reserve Account to the extent necessary to pay for or reimburse Borrower for the actual costs of any approved Replacements (including in both cases, without limitation, any project management fees, construction management fees, and other similar fees, whether owed to any Manager or otherwise)Replacements. Notwithstanding the preceding sentence, in no event shall Lender be required to (x) disburse any amounts which would cause the amount of funds remaining in the Required Repair Account after any disbursement (other than with respect to the final disbursement) to be less than one hundred twenty-five percent (125%) % of the then current estimated cost of completing all remaining Required Repairs for the applicable Individual Property, (y) disburse funds from any of the Reserve Accounts if an Event of Default existshas occurred and is continuing, or (z) disburse funds from the FF&E Replacement Reserve Account to reimburse Borrower for the costs of routine repairs or maintenance to any Individual the Property or for costs which are to be reimbursed from funds held in the Required RepairRepair Account.

Release of Reserve Funds. (a) Upon written request from Borrower and satisfaction of the requirements set forth in this Agreement, Lender shall disburse to Borrower within thirty (30) days amounts from (i) the Required Repair Account to the extent necessary to pay for or reimburse Borrower for the actual costs of each Required Repair (but not exceeding one hundred twenty-five percent (125%) % of the original estimated cost of such Required Repair as set forth on Schedule 9.1I, unless Lender has agreed to reimburse Borrower for such excess cost pursuant to Section 9.7(f9.5(f)) or (ii) the FF&E Replacement Reserve Account to the extent necessary to pay for or reimburse Borrower for the actual costs of any approved Replacements (including in both cases, without limitation, any project management fees, construction management fees, and other similar fees, whether owed to any Manager or otherwise)Replacements. Notwithstanding the preceding sentence, in no event shall Lender be required to (x) disburse any amounts which would cause the amount of funds remaining in the Required Repair Account after any disbursement (other than with respect to the final disbursement) to be less than one hundred twenty-five percent (125%) % of the then current estimated cost of completing all remaining Required Repairs for the applicable related Individual Property, (y) disburse funds from any of the Reserve Accounts if an Event of Default exists, or (z) disburse funds from the FF&E Replacement Reserve Account to reimburse Borrower for the costs of routine repairs or maintenance to any the related Individual Property or for costs which are to be reimbursed from funds held in the Required RepairRepair Account.

Release of Reserve Funds. (a) Upon written request from Borrower and satisfaction of the requirements set forth in this Agreement, Lender shall disburse to Borrower within thirty (30) days amounts from (i) the Required Repair Account to the extent necessary to pay for or reimburse Borrower for the actual costs of each Required Repair (but not exceeding one hundred twenty-five percent (125%) % of the original estimated cost of such Required Repair as set forth on Schedule 9.1I, unless Lender has agreed to reimburse Borrower for such excess cost pursuant to Section 9.7(f9.5(f)) or (ii) the FF&E Replacement Reserve Account to the extent necessary to pay for or reimburse Borrower for the actual costs of any approved Replacements (including in both cases, without limitation, any project management fees, construction management fees, and other similar fees, whether owed to any Manager or otherwise)Replacements. Notwithstanding the preceding sentence, in no event shall Lender be required to (x) disburse any amounts which would cause the amount of funds remaining in the Required Repair Account after any disbursement (other than with respect to the final disbursement) to be less than one hundred twenty-five percent (125%) % of the then current estimated cost of completing all remaining Required Repairs for the applicable Individual Property, (y) disburse funds from any of the Reserve Accounts if an Event of Default exists, or (z) disburse funds from the FF&E Replacement Reserve Account to reimburse Borrower for the costs of routine repairs or maintenance to any Individual the Property or for costs which are to be reimbursed from funds held in the Required RepairRepair Account.

Release of Reserve Funds. (a) Upon written request from Borrower and satisfaction of the requirements set forth in this Agreement, Lender shall disburse to Borrower within thirty (30) days amounts from (i) the Required Repair Account to the extent necessary to pay for or reimburse Borrower for the actual costs of each Required Repair (but not exceeding one hundred twenty-five percent (125%) % of the original estimated cost of such Required Repair as set forth on Schedule 9.1I, unless Lender has agreed to reimburse Borrower for such excess cost pursuant to Section 9.7(f9.5(f)) ); the Washington Mutual Reserve Account upon Lender's receipt of a tenant estoppel certificate evidencing that Washington Mutual has been paid all tenant improvement allowances due and owing under its lease; or (ii) the FF&E Replacement Reserve Account to the extent necessary to pay for or reimburse Borrower for the actual costs of any approved Replacements (including in both cases, without limitation, any project management fees, construction management fees, and other similar fees, whether owed to any Manager or otherwise)Replacements. Notwithstanding the preceding sentence, in no event shall Lender be required to (x) disburse any amounts which would cause the amount of funds remaining in the Required Repair Account after any disbursement (other than with respect to the final disbursement) to be less than one hundred twenty-five percent (125%) % of the then current estimated cost of completing all remaining Required Repairs for the applicable Individual Property, (y) disburse funds from any of the Reserve Accounts if an Event of Default exists, or (z) disburse funds from the FF&E Replacement Reserve Account to reimburse Borrower for the costs of routine repairs or maintenance to any Individual the Property or for costs which are to be reimbursed from funds held in the Required RepairRepair Account.

Release of Reserve Funds. (a) Upon With respect to a Property upon written request from Borrower and in all instances satisfaction of the requirements set forth in this Agreement, Lender shall promptly disburse to Borrower within thirty (30) days amounts from (i) the applicable Required Repair Account to the extent necessary to pay for or reimburse Borrower for the actual costs of each Required Repair (but not exceeding one hundred twenty-five percent (125%) % of the original estimated cost of such Required Repair as set forth on Schedule 9.1I, unless Lender has agreed to reimburse Borrower for such excess cost pursuant to Section 9.7(f9.5(f)) or ), (ii) the FF&E applicable Replacement Reserve Account to the extent necessary to pay for or reimburse Borrower for the actual costs of any approved Replacements or (including iii) the PIP Reserve Account to the extent necessary to reimburse Borrower for the actual costs of any Required PIP Replacements to the extent funds in both cases, without limitation, any project management fees, construction management fees, and other similar fees, whether owed to any Manager or otherwise)the applicable Replacement Reserve Account are insufficient for such Required PIP Replacements. Notwithstanding the preceding sentence, with respect to any Property, in no event shall Lender be required to (x) disburse any amounts which would cause the amount of funds remaining in the applicable Required Repair Account after any disbursement (other than with respect to the final disbursement) to be less than one hundred twenty-five percent (125%) % of the then current estimated cost of completing all remaining Required Repairs for the applicable Individual such Property, (y) disburse funds from any of the Reserve Accounts if an Event of Default exists, or (z) disburse funds from any Replacement Reserve Account or the FF&E PIP Reserve Account to reimburse Borrower for the costs of routine repairs or maintenance to such Property (other than FF&E Replacements required pursuant to any Individual Property PIP Report) or for costs which are to be reimbursed from funds held in the related Required RepairRepair Account or the PIP Reserve Account.

Release of Reserve Funds. (a) Upon written request from Borrower and satisfaction of the requirements set forth in this Agreement, Lender shall disburse to Borrower within thirty (30) days amounts from (i) the Required Repair Account to the extent necessary to pay for or reimburse Borrower for the actual costs of each Required Repair (but not exceeding one hundred twenty-five percent (125%) % of the original estimated cost of such Required Repair as set forth on Schedule 9.1I, unless Lender has agreed to pay or reimburse Borrower for such excess cost pursuant to Section 9.7(f9.5(f)) or (ii) the FF&E Replacement Reserve Account to the extent necessary to pay for or reimburse Borrower for the actual costs of any approved Replacements (including in both cases, without limitation, any project management fees, construction management fees, and other similar fees, whether owed to any Manager or otherwise)Replacements. Notwithstanding the preceding sentence, in no event shall Lender be required to (x) disburse any amounts which would cause the amount of funds remaining in the Required Repair Account after any disbursement (other than with respect to the final disbursement) to be less than one hundred twenty-five percent (125%) 100% of the then current estimated cost of completing all remaining Required Repairs for the applicable Individual PropertyProperties, (y) disburse funds from any of the Reserve Accounts if an Event of Default exists, or (z) disburse funds from the FF&E Replacement Reserve Account to pay or reimburse Borrower for the costs of routine repairs or maintenance to any Individual Property the Properties or for costs which are to be paid or reimbursed from funds held in the Required RepairRepair Account.

Release of Reserve Funds. (a) Upon written request from Borrower and satisfaction of the requirements set forth in this AgreementSection 9.5, Lender shall disburse to Borrower within thirty (30) days amounts from (i) the Required Repair Account to the extent necessary to pay for or to reimburse Borrower for the actual costs of each Required Repair (but not exceeding one hundred twenty-five percent (125%) % of the original estimated cost of such Required Repair as set forth on Schedule 9.1I, unless Lender has agreed to reimburse Borrower for such excess cost pursuant to Section 9.7(f)9.5(f) or (ii) the FF&E Replacement Reserve Account to the extent necessary to pay for or reimburse Borrower for the actual costs of any approved Replacements (including in both cases, without limitation, any project management fees, construction management fees, and other similar fees, whether owed to any Manager or otherwise)Replacements. Notwithstanding the preceding sentence, in no event shall Lender be required to (x) disburse any amounts which would cause the amount of funds remaining in the Required Repair Account after any disbursement (other than with respect to the final disbursement) to be less than one hundred twenty-five percent (125%) % of the then current estimated cost of completing all remaining Required Repairs for the applicable related Individual Property, (y) disburse funds from any of the Reserve Accounts if an Event of Default exists, or (z) disburse funds from the FF&E Replacement Reserve Account to reimburse Borrower for the costs of routine repairs or maintenance to any the related Individual Property or for costs which are to be reimbursed from funds held in the Required RepairRepair Account.

Release of Reserve Funds. (a) Upon written request from Borrower and satisfaction of the requirements set forth in this AgreementSection 9.6, Lender shall disburse to Borrower within thirty (30) days amounts from (i) the Required Repair Account to the extent necessary to pay for or to reimburse Borrower for the actual costs of each Required Repair (but not exceeding one hundred twenty-five percent (125%) % of the original estimated cost of such Required Repair as set forth on Schedule 9.1I, unless Lender has agreed to reimburse Borrower for such excess cost pursuant to Section 9.7(f)9.6) or (ii) the FF&E Replacement Reserve Account to the extent necessary to pay for or reimburse Borrower for the actual costs of any approved Replacements (including in both cases, without limitation, any project management fees, construction management fees, and other similar fees, whether owed to any Manager or otherwise)Replacements. Notwithstanding the preceding sentence, in no event shall Lender be required to (x) disburse any amounts which would cause the amount of funds remaining in the Required Repair Account after any disbursement (other than with respect to the final disbursement) to be less than one hundred twenty-five percent (125%) % of the then current estimated cost of completing all remaining Required Repairs for the applicable Individual Property, (y) disburse funds from any of the Reserve Accounts if an Event of Default exists, or (z) disburse funds from the FF&E Replacement Reserve Account to reimburse Borrower for the costs of routine repairs or maintenance to any Individual the Property or for costs which are to be reimbursed from funds held in the Required RepairRepair Account.

Release of Reserve Funds. (a) Upon written request from Borrower and satisfaction of the requirements set forth in this Agreement, Lender shall disburse to Borrower within thirty (30) days amounts from (i) the Required Repair Account to the extent necessary to pay for or reimburse Borrower for the actual costs of each Required Repair (but not exceeding one hundred twenty-five percent (125%) of the original estimated cost of such Required Repair as set forth on Schedule 9.1, unless Lender has agreed to reimburse Borrower for such excess cost pursuant to Section 9.7(f)) or (ii) the FF&E Reserve Account to the extent necessary to pay for or reimburse Borrower for the actual costs of any approved Replacements (including in both cases, without limitation, any project management fees, construction management fees, and other similar fees, whether owed to any Manager or otherwise). Notwithstanding the preceding sentence, in no event shall Lender be required to (x) disburse any amounts which would cause the amount of funds remaining in the Required Repair Account after any disbursement (other than with respect to the final 107 disbursement) to be less than one hundred twenty-five percent (125%) of the then current estimated cost of completing all remaining Required Repairs for the applicable Individual Property, (y) disburse funds from any of the Reserve Accounts if an Event of Default exists, or (z) disburse funds from the FF&E Reserve Account to reimburse Borrower for the costs of routine repairs or maintenance to any Individual Property or for costs which are to be reimbursed from funds held in the Required Repair.