Tax and Insurance Fund. Mortgagor shall pay to Mortgagee on the first day of each calendar month such amounts as Mortgagee from time to time estimates to be sufficient to create and maintain a reserve fund from which (i) to pay the Taxes and Other Charges, at least thirty (30) days prior to the date they are due without the payment of any penalties or interest, and (ii) to pay, at least thirty (30) days prior to their due date for the renewal of the coverage afforded by the Policies upon the expiration thereof, the insurance premiums for the Policies estimated by Mortgagee to be payable on such due date, (said amounts in (i) and (ii) above hereafter called the "Tax and Insurance Fund").
(1) Notwithstanding the foregoing clause (i) of this subsection (a), provided (X) Inland Southeast New Britain, L.L.C. or a Permitted Affiliated Transferee, as defined in Paragraph 9(h) below, or a Transferee approved by Mortgagee pursuant to Paragraph 9(f) below is and remains the owner of the Mortgaged Property, (Y) no Event of Default has occurred and is continuing under this Mortgage or any of the Loan Documents beyond any applicable notice or cure period, (Z) Mortgagor pays such Taxes and Other Charges prior to the date they are due and prior to the assessment of any penalties or interest and provides, upon request, evidence of such timely payment to Mortgagee, then Mortgagee will not require Mortgagor to make the deposits referred to in clause (i) of this subsection (a). In the event Mortgagor is hereafter required to make the deposits referred to in clause (i) of this subsection (a) on account of Mortgagor's failure to satisfy all of the requirements of the preceding sentence, Mortgagor agrees at Mortgagor's sole cost and expense, upon request thereafter of Mortgagee, to promptly execute and deliver to Mortgagee a written agreement for the making of such deposits in the future.
(2) Notwithstanding the foregoing clause (ii) of this subsection (a), provided (X) no Event of Default has occurred and is continuing under this Mortgage or any of the Loan Documents beyond any applicable notice or cure period, (Y) Inland Southeast New Britain, L.L.C. or a Permitted Affiliated Transferee, as defined in Paragraph 9(h) below, or a Transferee approved by Mortgagee pursuant to Paragraph 9(f) below is and remains the owner of the Mortgaged Property, and (Z) Mortgagor complies in full with all obligations in the Loan Documents regarding insurance, including without limitation providing Mortgagee with timel...
Tax and Insurance Fund. 11 Taxes............................................................................................10
Tax and Insurance Fund. Along with Minimum Annual Rent, Tenant shall pay to Landlord on account of such real property taxes and insurance expenses on the first day of each calendar month such respective amounts as Landlord shall from time to time estimate and so notify Tenant are required (the initial estimate being set forth in Article 1) for Landlord to establish a fund (which shall not bear interest) with which to pay such expenses prior to delinquency. At Landlord’s option, Xxxxxx’s pro rata share of real property taxes payable pursuant to Article 4 may be treated as real property taxes pursuant to this Article. Landlord shall deliver to Tenant at least once annually a statement setting forth the actual real property taxes and insurance expenses allocable to the Premises and the basis for computing the same, and if such actual expenses exceed Xxxxxx’s payments hereunder for the applicable Lease Year, Tenant shall pay the deficiency to Landlord within ten (10) days after receipt of such statement. If payments made by Tenant for said Lease Year exceed such actual expenses, Tenant shall be entitled to a refund of any such excess which shall accompany Landlord’s annual statement. The allocation of insurance expenses to the Premises shall be a fractional portion of the insurance expenses for the Commercial Center, the numerator of which shall be the Floor Area contained in the Premises and the denominator of which shall be the Floor Area contained in the Commercial Center.
Tax and Insurance Fund. There shall be deposited in the Tax and Insurance Fund all moneys received for such purpose by the Trustee from the Borrower pursuant to Section 5.22(h) of the Loan Agreement or transferred pursuant to Section 5.07 of this Indenture. Moneys in the Tax and Insurance Fund shall be applied to payment of real estate taxes and insurance premiums, as the same become due in accordance with bills for such taxes and insurance premiums. If the Trustee becomes aware at any time that amounts in the Tax and Insurance Fund are or will be insufficient to pay such taxes and insurance premiums as they become due, the Trustee shall promptly give notice of such insufficiency to Borrower and the Servicer. Upon the occurrence and continuation of an Event of Default hereunder and an acceleration of the Bonds pursuant hereto, all moneys and investment in the Tax and Insurance Fund (other than moneys held to pay costs required to be paid but not yet payable) shall be transferred to the Revenue Fund and applied to the payment of the Bonds. Upon the payment in full of the Bonds and the fees and expenses of the Issuer, the Majority Owner, the Servicer and the Trustee, and upon payment of amounts payable to the United States pursuant to Section 5.08 hereof, any amounts remaining in the Tax and Insurance Fund shall be paid to the Borrower as soon as practicable upon its written request therefor.
Tax and Insurance Fund. Tenant shall pay to Landlord on the first day of each calendar month such amounts as Landlord shall from time to time estimate and so notify Tenant as are required for Landlord to establish a fund with which to pay Real Property Taxes and Insurance expenses prior to delinquency. Landlord shall use commercially reasonable efforts to maintain such fund in an interest-bearing account. If interest is earned by Landlord on the sums so deposited by Tenant, such interest shall accrue to the benefit of Tenant. Tenant's Proportionate Share of Real Property Taxes payable pursuant to Article 18 hereof shall be included as Real Property Taxes pursuant to this Article. Landlord shall deliver to Tenant at least once annually a statement setting forth the actual Real Property Taxes and insurance expenses allocable to the Premises together with the basis used by Landlord for computing same. If such actual expenses exceed Tenant's payments hereunder, Tenant shall pay the deficiency to Landlord within thirty (30) days after receipt of such statement. If payments made by Tenant for such year exceed such actual expenses, Landlord shall pay such excess to Tenant upon Landlord's delivery of such statement. However, if Tenant is in default hereunder, Landlord shall be permitted to offset an amount equal to the excess against any payments due or damages caused by such default.
Tax and Insurance Fund. Mortgagor shall pay to Mortgagee on the first day of each calendar month an amount equal to (i) one-twelfth of an amount which would be sufficient to pay, at least thirty (30) days prior to the date the Taxes and Other Charges are due without the payment of any penalties or interest, the Taxes and Other Charges estimated by Mortgagee to be payable, during the next ensuing twelve (12) months and (ii) one-twelfth of an amount which would be sufficient to pay, at least thirty (30) days prior to their due date for the renewal of the coverage afforded by the Policies upon the expiration thereof, the insurance premiums for the Policies estimated by Mortgagee to be payable on such due date, (said amounts in (i) and (ii) above hereafter called the "Tax and Insurance Fund").
Tax and Insurance Fund. Trustor shall pay to Beneficiary on the first day of each calendar month such amounts as Beneficiary from time to time estimates to be sufficient to create and maintain a reserve fund from which (i) to pay the Taxes and Other Charges, at least thirty (30) days prior to the date they are due without the payment of any penalties or interest, and (ii) to pay, at least thirty (30) days prior to their due date for the renewal of the coverage afforded by the Policies upon the expiration thereof, the insurance premiums for the Policies estimated by Beneficiary to be payable on such due date (said amounts in (i) and (ii) above hereafter called the "Tax and Insurance Fund"
Tax and Insurance Fund. 11 Loan No. 6518291
Tax and Insurance Fund. 10 Taxes..........................................................................9 Tenant Improvement and Leasing Commission Reserve Fund........................11
Tax and Insurance Fund. Grantor shall pay to Grantee on the first day of each calendar month such amounts as Grantee from time to time estimates to be sufficient to create and maintain a reserve fund from which (i) to pay the Taxes and Other Charges, at least thirty (30) days prior to the date they are due without the payment of any penalties or interest, and (ii) to pay, at least thirty (30) days prior to their due date for the renewal of the coverage afforded by the Policies upon the Loan No. 6518403 expiration thereof, the insurance premiums for the Policies estimated by Grantee to be payable on such due date, (said amounts in (i) and (ii) above hereafter called the "TAX AND INSURANCE FUND").
(1) Notwithstanding the foregoing clause (i) of this subsection (a), provided (X) Inland Western Duluth John's Creek SPE, L.L.C. or a Permitted Affiliated Transferee, as defined in Paragraph 9(h) below, or a Transferee approved by Grantee pursuant to Paragraph 9(f) below is and remains the owner of the Trust Property, (Y) no Event of Default has occurred and is continuing under this Deed to Secure Debt or any of the Loan Documents beyond any applicable notice or cure period, (Z) Grantor pays such Taxes and Other Charges prior to the date they are due and prior to the assessment of any penalties or interest and provides, upon request, evidence of such timely payment to Grantee, then Grantee will not require Grantor to make the deposits referred to in clause (i) of this subsection (a). In the event Grantor is hereafter required to make the deposits referred to in clause (i) of this subsection (a) on account of Grantor's failure to satisfy all of the requirements of the preceding sentence, Grantor agrees at Grantor's sole cost and expense, upon request thereafter of Grantee, to promptly execute and deliver to Grantee a written agreement for the making of such deposits in the future.
(2) Notwithstanding the foregoing clause (ii) of this subsection (a), provided (X) no Event of Default has occurred and is continuing under this Deed or any of the Loan Documents beyond any applicable notice or cure period, (Y) Inland Western Duluth John's Creek SPE, L.L.C. or a Permitted Affiliated Transferee, as defined in Paragraph 9(h) below, or a Transferee approved by Grantee pursuant to Paragraph 9(f) below is and remains the owner of the Trust Property, and (Z) Grantor complies in full with all obligations in the Loan Documents regarding insurance, including without limitation providing Grantee with timel...
