Reserve Funding. Borrower shall continue to fund all Replacement Reserve Deposits, Repairs Escrow Deposits, Imposition Deposits, and all other reserves, escrows, impositions and other amounts required pursuant to the Loan Agreement and any other Loan Document. Waiver and [First] Amendment to Multifamily Loan and Security Agreement 16
Reserve Funding. In the event either FUMIC or the Pool Affiliates are not authorized to act as a reinsurer by insurance regulatory authorities of any state in the United States of America which requires authorization for the ceding company to receive credit with respect to outstanding losses recoverable, including losses incurred but not reported, and unearned premium reserves assumed by the reinsuring company, then upon request of the ceding company, the assuming company shall fund its share of such outstanding losses recoverable and unearned premium reserve hereunder by a letter of credit in such form as may be required by the insurance regulatory authorities. The parties hereby agree that any amounts withdrawn from such letter of credit shall be used only to reimburse the ceding company for the reinsurer’s share of such losses and unearned premium reserve, and to refund to the reinsurer any excess amount upon determination of the reinsuring company’s ultimate liability under this Agreement. The parties further agree that the reinsuring company may, at its option, fund its share of such outstanding losses recoverable and unearned premium reserve by a cash advance or other means acceptable to the insurance regulatory authorities.
Reserve Funding. Owner agrees to maintain a Reserve Funding balance of at least $350 per property managed in order to allow the manager to promptly address maintenance issues. Reserve Funding does not negate the duty of the Manager to notify Owner of repair items that arise. Funds are payable within 24 hours of management agreement start date and are then maintained on an ongoing basis. Owner shall maintain the reserve stated above at all times in the Trust Account and shall replenish balance as needed within 15 days of notification of Manager. Maintenance Repairs: Manager shall make or cause to be made, through contracted services all ordinary repairs and replacements reasonably necessary to preserve the Property in habitable condition. Any cost exceeding $350 may need to be approved by Owner in advance, with the following exceptions: (1) In an emergency where repairs are immediately necessary for the preservation and safety of the Property, (2) to avoid the suspension of any essential services to the Property, (3) to avoid danger or life of property, or (4) to comply with federal, state or local laws. _________ Owner _________Manager
Reserve Funding. Agent shall maintain Reserve funds as required by Association and shall undertake to confer with the Board respecting investment alternatives and reserve estimate updates. The Board shall make the final determination as it relates to where such funds should be invested.
Reserve Funding. To the extent that the Reinsurer is required by any state or federal regulatory body having jurisdiction over the reserves of the Reinsured, to secure or collateralize its liabilities and obligations under the Agreement, the Reinsurer agrees to do so by either, at the Reinsurer’s option, obtaining unconditional, clean and irrevocable letters of credit issued by a member of the federal reserve system acceptable to the appropriate regulatory authority, or by establishing and depositing assets in a trust account in any similarly qualified bank. The letters of credit or trust assets may be required by the appropriate regulatory authority so as to allow the Reinsured to take credit in its financial statements for the full amount of any funds due from or liabilities ceded to the Reinsurer hereunder.
Reserve Funding. A. It is the intent of the Company and the Reinsurer that the Company shall be able to obtain statutory financial statement credit (to the extent properly available under statutory accounting principles) for the reinsurance ceded hereunder. If such credit is otherwise unavailable, the Reinsurer agrees, at Reinsurer’s option, either to obtain unconditional, clean and irrevocable letters of credit issued by a member of the federal reserve system acceptable to the applicable regulatory authority, or by establishing and depositing assets in a trust account in any similarly qualified bank. The letters of credit or trust assets shall be in such amount and documented in such form and manner as may be required by the applicable regulatory authority so as to allow the Company to take credit in its statutory financial statements filed with the Texas Department of Insurance or other applicable regulatory authority for the full amount of any funds due from and Reserve liabilities ceded to the Reinsurer hereunder.
Reserve Funding. 5 Section 2.02. Reserve Account........................................................................5 Section 2.03. Interest Rate and Payment Date.........................................................6 Section 2.04. Computation of Interest and Fees.......................................................6 Section 2.05. Payments...............................................................................7 Section 2.06. Reserve Account Administration, Direction of Eligible Investments......................7 Section 2.07. Reserved...............................................................................7 Section 2.08. Nonrecourse and Recourse Obligations; Waiver of Setoff, Obligations Absolute...................................................................7
Reserve Funding. The Indenture Trustee shall establish the Reserve Account pursuant to Section 7.01 of the Pooling Agreement. The Trust will retain the Initial Amount from the proceeds of the sale of the Notes pursuant to the Indenture and as described in the Underwriting Agreement, and deposit such amount into the Reserve Account on the Closing Date (the "Holdback Amount").
Reserve Funding a. No later than the date which is:
Reserve Funding. If the State of Georgia should require Owner to deposit any monies into a reserve fund, Owner shall fund such monies out of its corporate funds.
