Rollover Reserve Fund Sample Clauses

Rollover Reserve Fund. (a) Pledgor shall cause Mortgage Borrower to comply with all of the terms and conditions set forth in Section 7.4 of the Mortgage Loan Agreement.
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Rollover Reserve Fund. Borrower shall pay to Lender on each Payment Date until the Major Lease Rollover Date, the sum of $35,000 (in addition to other payments required hereunder) (such payments, less disbursements thereof pursuant hereto, being called the "Rollover Reserve Fund"). Without limiting Lender's rights hereunder, if any sums in the Rollover Reserve Fund are applied to payment of Approved Leasing Expenses, Borrower shall make deposits into the Rollover Reserve Fund on each Payment Date in an amount from time to time determined by Lender to be the minimum monthly amount necessary to be deposited such that, after taking into account all payments from the Rollover Reserve Fund, the amount on deposit in the Rollover Reserve Fund on the Major Lease Rollover Date shall be not less than $2,000,000. Borrower shall also deposit into the Rollover Reserve Fund all payments received from tenants in connection with the early termination or cancellation of any of the Major Leases. Lender will apply such payments to payment of Approved Leasing Expenses pursuant to the terms hereof. If the amount of the Rollover Reserve Fund shall exceed the amounts due for Approved Leasing Expenses pursuant to the terms hereof, Lender shall return any excess to Borrower. If Lender determines in its reasonable judgment that the amount of the Rollover Reserve Fund will be insufficient to pay the amounts due or to become due for Approved Leasing Expenses, Lender may adjust the monthly amounts required to be deposited into the Rollover Reserve Fund upon 30 days' notice to Borrower. Alternatively, Lender may in its discretion determine that the amount of the Rollover Reserve Fund will exceed the amounts due or to become due for Approved Leasing Expenses, in which case Lender may reduce the monthly amounts to be deposited therein. In determining whether (i) to reduce the monthly amounts to be deposited into the Rollover Reserve Fund or (ii) to return any excess to Borrower, Lender shall take into account any extensions of the originally scheduled expiration dates of the Major Leases. For any Major Lease which is extended beyond the Major Lease Rollover Date applicable thereto, Lender will either return to Borrower that portion of the Rollover Reserve Fund corresponding to such Major Lease or reduce the monthly amount required to be deposited into the Rollover Reserve Fund which corresponds to such Major Lease.
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Rollover Reserve Fund. 19 3.5.1 Rollover Reserve Fund................................ 19 3.5.2 Payment of Leasing Expenses.......................... 20 3.6 Payment of Approved Operating Expenses............... 20 3.7
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Rollover Reserve Fund. (a) Borrower shall pay to Lender on each Payment Date commencing January 1, 2000, and continuing through December 31, 2000, the sum of $35,817.00 (each such payment a "Rollover Payment" and such Rollover Payments cumulatively, the "Rollover Reserve Fund"), to be applied in accordance with the terms of this Section 7.5; provided, however, that
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Rollover Reserve Fund. Subject to Section 3.9 hereof, --------------------- Borrower shall pay to Lender $67,500 on each Payment Date (in addition to other payments required hereunder). Lender will apply such payments (the "ROLLOVER RESERVE FUND") to payment of Approved Leasing Expenses pursuant to the terms hereof. If the amount of the Rollover Reserve Fund shall exceed the amounts due for Approved Leasing Expenses pursuant to the terms hereof, Lender shall, in its discretion, return any excess to Borrower, credit such excess against future payments to the Rollover Reserve Fund or allocate such excess to other Subaccounts. If Lender determines in its reasonable judgment that the amount of the Rollover Reserve Fund will be insufficient to pay the amounts due or to become due for Approved Leasing Expenses, Lender may, in its reasonable discretion, adjust the monthly amounts required to be deposited into the Rollover Reserve Fund upon thirty (30) days' notice to Borrower. Alternatively, Lender may in its reasonable discretion determine that the amount of the Rollover Reserve Fund will exceed the amounts due or to become due for Approved Leasing Expenses, in which case Lender shall reduce the monthly amounts to be deposited therein.
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Rollover Reserve Fund. The amounts held under this Section 7.5 are defined as the "Rollover Reserve Fund". Concurrently with the execution and delivery of this Agreement, Borrower shall pay the amount of Three Hundred Fourteen Thousand Eight Hundred Dollars ($314,800) into the Rollover Reserve Fund, which payment represents all termination fees received by Borrower in connection with the Omnia Lease (the "Omnia Payment"). Borrower shall pay to Lender on each Payment Date the amount of $26234 (the monthly amounts to be paid are referred to as "Rollover Reserve Fund Payments"), and all Rollover Reserve Fund Payments are to be paid into the Rollover Reserve Fund. Lender will apply the Rollover Reserve Fund to payment of Approved Leasing Expenses pursuant to the terms hereof; PROVIDED, HOWEVER, if the Loan shall have been accelerated or if there is an Event of Default which is continuing, then Lender may credit such Rollover Reserve Fund against the Debt in such priority and proportions as Lender in its sole and absolute discretion shall deem proper. If the amount of the Rollover Reserve Fund shall exceed the amounts due for Approved Leasing Expenses pursuant to the terms hereof, Lender shall, in its discretion, return any excess to Borrower; PROVIDED, HOWEVER, if the Loan shall have been accelerated or if there is an Event of Default which is continuing, then Lender may credit such excess against the Debt in such priority and proportions as Lender in its sole and absolute discretion shall deem proper.
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Rollover Reserve Fund. If at any time during the Term, Borrower receives a payment from a Tenant in connection with the termination or compromise of a Lease, Borrower shall deposit such amount into the Deposit Account to be forwarded to a fund to be held by Lender and applied as provided herein (the "the Rollover Reserve Fund").
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Rollover Reserve Fund. All funds in the Rollover Account shall be held by Administrative Agent for tenant improvement and leasing commission obligations incurred after the Closing Date. Amounts deposited in the Rollover Account shall hereinafter be referred to as the “Rollover Reserve Fund”. Subject to Section 4.2(3), Administrative Agent shall make disbursements from the Rollover Reserve Fund for tenant improvement and leasing commission obligations incurred by Borrower or the applicable Property Guarantor in connection with a new Lease (or Lease modification or extension) entered into in accordance with this Agreement. Administrative Agent shall make disbursements as requested by Borrower (but not more frequently than once each calendar month) in increments of no less than $5,000 upon delivery by Borrower of a request for disbursement in the form of a summary spreadsheet reasonably acceptable to Administrative Agent accompanied by copies of paid invoices for the amounts requested (or such other evidence reasonably satisfactory to Administrative Agent that such requested amounts have been paid) and, with respect to tenant improvement and leasing commissions relating to any single tenant or any single Lease, as applicable, in excess of $250,000, Administrative Agent may condition disbursement on receipt of conditional Lien waivers and releases from all parties furnishing materials and/or services in connection with the requested payment, provided that Borrower, or the applicable Property Guarantor, shall not be required to deliver Lien waivers with respect to tenant reimbursement amounts unless and to the extent such tenant is required to provide Lien waivers pursuant to the terms of the applicable Lease; provided, however, that Borrower or the applicable Property Guarantor shall use commercially reasonable efforts to enforce any such obligation of such tenant. With respect to disbursements in excess of $500,000 in any month or $1,500,000 in any three consecutive months, Administrative Agent may require an inspection of the applicable Property at Borrower’s expense prior to making a disbursement in order to verify completion of improvements for which reimbursement is sought. All earnings or interest on the Rollover Reserve Fund shall be and become part of such Rollover Reserve Fund and shall be disbursed as provided in this Section 4.1(6). Any amount remaining in the Rollover Reserve Fund after the Debt has been paid in full or immediately following the Cure Event for the applic...
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Rollover Reserve Fund 
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Related to Rollover Reserve Fund

  • Replacement Reserve Fund Borrower shall pay to Lender on the Closing Date and on each Payment Date one twelfth of the amount (the "REPLACEMENT RESERVE MONTHLY DEPOSIT") reasonably estimated by Lender in its sole discretion to be due for replacements and repairs required to be made to the Property during the calendar year (collectively, the "REPLACEMENTS"), which Replacement Reserve Monthly Deposit shall be in an amount equal to no less than $0.15 per year per square foot of gross leasable area. Amounts so deposited shall hereinafter be referred to as Borrower's "REPLACEMENT RESERVE FUND" and the account in which such amounts are held shall hereinafter be referred to as Borrower's "REPLACEMENT RESERVE ACCOUNT". Lender may reassess its estimate of the amount necessary for the Replacement Reserve Fund from time to time, and may increase the monthly amounts required to be deposited into the Replacement Reserve Fund upon thirty (30) days notice to Borrower if Lender determines in its reasonable discretion that an increase is necessary to maintain the proper maintenance and operation of the Property. Any amount held in the Replacement Reserve Account and allocated for the Property shall be retained by Lender in an interest bearing account, or, at the option of Lender, in an Eligible Account at an Eligible Institution; PROVIDED, HOWEVER, that, any interest earned on said account shall accrue in said account for the benefit of Borrower, but shall remain in and constitute part of the Replacement Reserve Fund, and shall be disbursed in accordance with the terms hereof. Notwithstanding anything to the contrary in this Section 7.3, Borrower shall not be required to make Replacement Reserve Monthly Deposits, provided that: (i) no Event of Default shall have occurred; and (ii) Borrower makes all necessary Replacements and otherwise maintains the Property to Lender's satisfaction. Upon notice from Lender following: (a) an Event of Default; or (b) the failure of Borrower to make necessary Replacements or otherwise maintain the Property to Lender's satisfaction, Borrower shall begin to deposit the Replacement Reserve Monthly Deposit into the Replacement Reserve Fund beginning on the Payment Date (as defined herein) immediately following the date of such notice.

  • Reserve Fund (a) On the Closing Date, the Seller will deposit the Reserve Fund Initial Deposit into the Reserve Fund from the net proceeds of the sale of the Notes. The Reserve Fund shall be the property of the Issuer subject to the rights of the Indenture Trustee in the Reserve Fund Property.

  • Carryover Reserve Fund (a) On the Closing Date, the Trustee shall establish and maintain in its name, in trust for the benefit of the Holders of the Certificates, the Carryover Reserve Fund and shall deposit $1,000 therein. The Carryover Reserve Fund shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Trustee pursuant to this Agreement.

  • Interest Reserve Account The Certificate Administrator shall establish and maintain the Interest Reserve Account in the Certificate Administrator’s name, on behalf of the Trustee, for the benefit of the Certificateholders. The Interest Reserve Account shall be established and maintained as a non-interest bearing Eligible Account. On each Master Servicer Remittance Date occurring in January (except during a leap year) or February (commencing in 2018) (unless, in either such case, the related Distribution Date is the final Distribution Date), the Master Servicer shall remit to the Certificate Administrator for deposit into the Interest Reserve Account, in respect of all the Mortgage Loans that accrue interest on the basis of a 360-day year and the actual number of days in the related month, an amount equal to one day’s interest at the related Net Mortgage Rate on the Stated Principal Balance of each such Mortgage Loan as of the close of business on the Distribution Date in the month preceding the month in which such Master Servicer Remittance Date occurs, to the extent a Monthly Payment or P&I Advance is made in respect thereof (all amounts so deposited in any consecutive January (if applicable) and February, “Withheld Amounts”). On or prior to the Master Servicer Remittance Date in March (or February if the final Distribution Date occurs in such month) of each calendar year (commencing in 2018), the Certificate Administrator shall transfer to the Lower-Tier REMIC Distribution Account the aggregate of all Withheld Amounts on deposit in the Interest Reserve Account.

  • Reserve Funds Section 7.1.

  • Disbursements from Replacement Reserve Account (a) Lender shall make disbursements from the Replacement Reserve Account to pay Borrower only for the costs of the Replacements. Lender shall not be obligated to make disbursements from the Replacement Reserve Account to reimburse Borrower for the costs of routine maintenance to the Property or for costs which are to be reimbursed from the Required Repair Fund (if any).

  • Withdrawals From Escrow Account Withdrawals from the Escrow Account shall be made by the Seller only (a) to effect timely payments of ground rents, taxes, assessments, premiums for Primary Mortgage Insurance Policies, fire and hazard insurance premiums or other items constituting Escrow Payments for the related Mortgage, (b) to reimburse the Seller for any Servicing Advance made by Seller pursuant to Subsection 11.08 hereof with respect to a related Mortgage Loan, (c) to refund to any Mortgagor any funds found to be in excess of the amounts required under the terms of the related Mortgage Loan, (d) for transfer to the Custodial Account upon default of a Mortgagor or in accordance with the terms of the related Mortgage Loan and if permitted by applicable law, (e) for application to restore or repair of the Mortgaged Property, (f) to pay to the Mortgagor, to the extent required by law, any interest paid on the funds deposited in the Escrow Account, (g) to pay to itself any interest earned on funds deposited in the Escrow Account (and not required to be paid to the Mortgagor), (h) to the extent permitted under the terms of the related Mortgage Note and applicable law, to pay late fees with respect to any Monthly Payment which is received after the applicable grace period, (i) to withdraw suspense payments that are deposited into the Escrow Account, (j) to withdraw any amounts inadvertently deposited in the Escrow Account or (k) to clear and terminate the Escrow Account upon the termination of this Agreement.

  • Net WAC Rate Carryover Reserve Account No later than the Closing Date, the Trust Administrator shall establish and maintain with itself a separate, segregated trust account titled, “Xxxxx Fargo Bank, N.A. as Trust Administrator, in trust for the registered holders of MASTR Asset Backed Securities Trust 2006-WMC1, Mortgage Pass-Through Certificates, Series 2006-WMC1—Net WAC Rate Carryover Reserve Account.” All amounts deposited in the Net WAC Rate Carryover Reserve Account shall be distributed to the Holders of the Class A Certificates and/or the Mezzanine Certificates in the manner set forth in Section 4.01. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to the Class A Certificates and/or the Mezzanine Certificates, the Trust Administrator has been directed by the Class CE Certificateholders to, and therefore will, deposit into the Net WAC Rate Carryover Reserve Account the amounts described in Section 4.01(e)(v), rather than distributing such amounts to the Class CE Certificateholders. On each such Distribution Date, the Trust Administrator shall hold all such amounts for the benefit of the Holders of the Class A Certificates and the Mezzanine Certificates, and will distribute such amounts to the Holders of the Class A Certificates and/or the Mezzanine Certificates in the amounts and priorities set forth in Section 4.01(a). It is the intention of the parties hereto that, for federal and state income and state and local franchise tax purposes, the Net WAC Rate Carryover Reserve Account be disregarded as an entity separate from the Holder of the Class CE Certificates unless and until the date when either (a) there is more than one Class CE Certificateholder or (b) any Class of Certificates in addition to the Class CE Certificates is recharacterized as an equity interest in the Net WAC Rate Carryover Reserve Account for federal income tax purposes, in which case it is the intention of the parties hereto that, for federal and state income and state and local franchise tax purposes, the Supplemental Interest Trust be treated as a grantor trust. All amounts deposited into the Net WAC Rate Carryover Reserve Account shall be treated as amounts distributed by REMIC III to the Holder of the Class CE Interest and by REMIC IV to the Holder of the Class CE Certificates. The Net WAC Rate Carryover Reserve Account will be an “outside reserve fund” within the meaning of Treasury Regulation Section 1.860G-2(h). Upon the termination of the Trust, or the payment in full of the Class A and the Mezzanine Certificates, all amounts remaining on deposit in the Net WAC Rate Carryover Reserve Account will be released by the Trust and distributed to the Seller or its designee. The Net WAC Rate Carryover Reserve Account will be part of the Trust but not part of any REMIC and any payments to the Holders of the Class A and the Mezzanine Certificates of Net WAC Rate Carryover Amounts will not be payments with respect to a “regular interest” in a REMIC within the meaning of Code Section 860(G)(a)(1). By accepting a Class CE Certificate, each Class CE Certificateholder hereby agrees to direct the Trust Administrator, and the Trust Administrator hereby is directed, to deposit into the Net WAC Rate Carryover Reserve Account the amounts described above on each Distribution Date as to which there is any Net WAC Rate Carryover Amount rather than distributing such amounts to the Class CE Certificateholders. By accepting a Class CE Certificate, each Class CE Certificateholder further agrees that such direction is given for good and valuable consideration, the receipt and sufficiency of which is acknowledged by such acceptance. Amounts on deposit in the Net WAC Rate Carryover Reserve Account shall remain uninvested.

  • Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

  • Permitted Withdrawals From Escrow Account Withdrawals from the Escrow Account or Accounts may be made by the Servicer only:

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