TI and Leasing Reserve Account Sample Clauses

TI and Leasing Reserve Account. (a) On the Closing Date, a portion of the Loan in an amount equal to $0 (the TI and Leasing Reserve Initial Amount and together with all other amounts subsequently deposited into the TI and Leasing Reserve Account, the TI and Lease Reserve Amount) has been advanced by Lender as part of the Indebtedness but has been deposited into the TI and Leasing Reserve Account in accordance with Section 3.1 and held by Cash Management Bank for the benefit of Lender as additional security for the Loan. In addition, in accordance with the time periods set forth in Section 3.1, Borrower shall deposit, or cause to be deposited into the TI and Leasing Reserve Account, an amount equal to $86,109.94 (the Monthly TI and Leasing Reserve Amount) to be held by Cash Management Bank on Lender’s behalf as additional security for the Loan in accordance with Section 3.1 and the Account Agreement.
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TI and Leasing Reserve Account. (a) Borrower shall deposit, or cause to be deposited into the TI and Leasing Reserve Account, immediately after Borrower's receipt thereof, an amount equal to any Surrender Fee(s) (as defined in the Citibank Lease) received by Borrower pursuant to the Citibank Lease (any amount on deposit in the TI and Leasing Reserve Account, the "TI and Leasing Reserve Amount") and the same shall be held by Cash Management Bank on Lender's behalf as additional security for the Loan and disbursed in accordance with this Section 16.1 and Section 3.1.
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TI and Leasing Reserve Account. (a) On the date hereof, a portion of the Loan in an amount equal to $4,208,747.81 (the TI AND LEASING RESERVE INITIAL AMOUNT and together with all other amounts subsequently deposited into the TI and Leasing Reserve Account, the TI AND LEASE RESERVE AMOUNT) has been advanced by Lender as part of the Indebtedness but has been deposited into the TI and Leasing Reserve Account in accordance with Section 3.1 and held by Cash Management Bank for the benefit of Lender as additional security for the Loan. In addition, in accordance with the time periods set forth in Section 3.1, commencing on and including the Payment Date in November 2003, Borrower shall deposit, or cause to be deposited into the TI and Leasing Reserve Account, an amount equal to $100,000 during each month of the term of the Loan (the MONTHLY TI AND LEASING RESERVE AMOUNT) and held by Cash Management Bank on Lender's behalf as additional security for the Loan.
Sample 1
TI and Leasing Reserve Account. (a) Borrower and Maryland Owner shall deposit with Lender on the date hereof the amount of Three Million Two Hundred Thousand Ten and No/100 Dollars ($3,210,000.00) (the “TI and Leasing Reserve Amount”) to be held in the TI and Leasing Reserve Account, which amount shall be deposited with and held by Lender for tenant improvement and leasing commission obligations to be incurred prior to the date hereof with respect to certain Leases, all of which are specified on Schedule 16.10. Provided that no Event of Default shall have occurred and be continuing, Lender shall make disbursements from the TI and Leasing Reserve Account (to the extent of funds on deposit therein) to Borrower and/or Maryland Owner to pay for or reimburse Borrower and/or Maryland Owner for the items specified on Schedule 16.10 (collectively, “TI and Leasing Costs”).
Sample 1
TI and Leasing Reserve Account. (a) In accordance with the time periods set forth in Section 3.1, Borrower shall deposit, or cause to be deposited into the TI and Leasing Reserve Account, an amount equal to $40,705 with respect to the Ardenwood Corporate Park Property (as defined in the Security Instrument), $19,095 with respect to the 0000 Xxxxx Xxxxx Property (as defined in the Security Instrument) and $13,694 with respect to the 0000 Xxxxx Xxxx Property (as defined in the Security Instrument) (collectively, the Monthly TI and Leasing Reserve Amount) and held by Cash Management Bank on Lender’s behalf as additional security for the Loan. Notwithstanding the foregoing, provided that the base Rent collected from Tenants on a quarterly basis as reflected in the quarterly reports delivered to Lender pursuant to Section 11.2.1 is greater than or equal to (i) $1,487,941 for the Ardenwood Corporate Park Property, (ii) $786,586 for the 0000 Xxxxx Xxxxx Property, and (iii) $304,313 for the 0000 Xxxxx Xxxx Property, Borrower shall not be required to deposit the Monthly TI and Leasing Reserve Amount with respect to such Individual Property into the TI and Leasing Reserve Account.
Sample 1

Related to TI and Leasing Reserve Account

  • 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.

  • 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 Accounts All reserves, escrows and deposit accounts required under the Loan Documents and all cash, checks, drafts, certificates, securities, investment property, financial assets, instruments and other property held therein from time to time and all proceeds, products, distributions or dividends or substitutions thereon and thereof;

  • Reserve Account Property (i) The Reserve Account and all proceeds thereof (other than the Investment Earnings thereon) including all cash, investments, investment property and other amounts held from time to time in the Reserve Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities, Financial Assets or otherwise) and (ii) the Reserve Account Deposit and all proceeds thereof (other than the Investment Earnings thereon).

  • Reserve Account Draw Amount On or before two Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date.

  • Debt Service Reserve Account The Debt Service Reserve Account shall have been funded (or credited with funds), to the extent required, in an amount equal to the Debt Service Reserve Required Amount in accordance with the Depositary Agreement.

  • Initial Reserve Account Deposit On the Closing Date, the Depositor will deposit or cause to be deposited the Specified Reserve Balance into the Reserve Account from the net proceeds of the sale of the Notes.

  • 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.

  • 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).

  • 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.

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