Reserves and Escrows. If (i) Senior Lender waives any reserves or escrow accounts required under the Senior Loan Documents which reserves or escrow accounts are also required under the most Senior Junior Loan Documents, then the most Senior Junior Lender may require that its Junior Borrower (x) deposit such amounts that would have been deposited into any reserves or escrow accounts under the Senior Loan to be transferred to and deposited with such Senior Junior Lender and (y) enter into a cash management agreement with such Senior Junior Lender substantially similar to the arrangement entered into by Borrower with Senior Lender at the closing of the Senior Loan and (ii) if any Senior Junior Lender waives any reserves or escrow accounts required under its applicable Senior Junior Loan Documents which reserves or escrow accounts are also required under the most senior Subordinate Junior Loan Documents, then the most senior Subordinate Junior Lender may require that its Junior Borrower (x) deposit such amounts that would have been deposited into any reserves or escrow accounts under the Senior Loan or the applicable Senior Junior Loan to be transferred to and deposited with such Subordinate Junior Lender and (y) enter into a cash management agreement with such Subordinate Junior Lender substantially similar to the arrangement entered into by Borrower with the Senior Lender or by the Senior Junior Borrower with such Senior Junior Lender.
Reserves and Escrows. Each Borrower shall have made such initial deposits into the Funds as Lender may require in accordance with this Agreement and the other Loan Documents.
Reserves and Escrows. If Senior Lender waives any reserves or escrow accounts required under the Senior Loan Documents, then each Mezzanine Lender may require that the applicable Mezzanine Borrower (x) deposit such amounts that would have been deposited into any such reserves or escrow accounts under the Senior Loan to be transferred to and deposited with such Mezzanine Lender and (y) enter into a cash management agreement with respect to such waived reserves or escrows with such Mezzanine Lender substantially similar to the arrangement entered into by Borrower with Senior Lender at the closing of the Senior Loan. If both Mezzanine Lenders make the request described in the preceding sentence only the request of the Junior Mezzanine Lender shall be accepted.
Reserves and Escrows. Pre-Effective Date PA Duties. From the later of the date hereof or the Confirmation Date to, but not including, the Effective Date, the Plan Administrator shall perform the Pre- Effective Date PA Duties as set forth in Section 13.1(a) of the Plan.
Reserves and Escrows. Operating and Replacement Reserves for the Development and any other reserves and escrows for the Development described in the Contract Documents shall be maintained as set forth in the Regulatory Agreement and any other applicable Contract Documents. Unless the Partnership Agreement expressly provides otherwise, the amounts of reserves and escrows required under the Contract Documents shall be credited toward the amount of any corresponding reserves and escrows required under the Partnership Agreement. [If applicable: If the Partnership Agreement and/or any of the Contract Documents provides for replenishment of any such reserves or escrows, MassHousing’s prior written confirmation that the source of funds for replenishment contemplated by the Partnership to effect such provisions is consistent with the Development budget previously approved by MassHousing and is acceptable to MassHousing shall be required in connection with each required replenishment.]
Reserves and Escrows. (a) General Reserve and Escrow Requirements. Borrowers agree to establish and maintain all of the reserves and escrows required in this Section 2.4. All sums so reserved or escrowed may be commingled with the general funds of Administrative Agent and no such sums shall be deemed to be held in trust for the benefit of Borrowers. No interest shall be payable on any funds reserved or escrowed hereunder. All sums so reserved or escrowed shall be part of the Collateral and shall stand as additional security for all of the Obligations. If Administrative Agent at any time determines that the amount on deposit in any reserve or escrow is insufficient for its intended purposes, Borrowers shall, within ten (10) days following notice from Administrative Agent, deposit such additional sums as may be required by Administrative Agent. In the event of any default by Borrowers under the terms of this Agreement or any other Financing Document, Administrative Agent may, at its discretion, apply amounts on hand in the reserves or escrows to cure such default. Upon demand of Administrative Agent, Borrowers shall replenish the applicable reserve or escrow to restore any sums so applied by Administrative Agent. Upon the occurrence of an Event of Default and/or the maturity of any portion of the Obligations, the moneys then remaining on deposit with Administrative Agent shall, at Administrative Agent’s option, be applied against the Obligations in such order and manner as Administrative Agent may elect or as may otherwise be required under this Agreement.
Reserves and Escrows. 26 2.2.22 Rent Roll................................................26 2.2.23
Reserves and Escrows. Payment by the Borrower into the appropriate Account of (i) any and all reserves for deferred maintenance and/or environmental remediation as may be required by Lender based on the reports referred to in clauses (k) and (aa) above, and (ii) the initial deposit on account of "Basic Carrying Costs" as determined pursuant to the Cash Collateral Agreement.
Reserves and Escrows. Each Borrower shall have (i) paid into -------------------- the Required Repair Fund any and all reserves for deferred maintenance and/or environmental remediation as may be required by Lender based on the reports referred to above, and (ii) made such initial deposits into the other Funds as Lender may require in accordance with the Loan Documents.
Reserves and Escrows. 52 Section 6.31. Rhode Island Facilities.......................................................53
