Basic Carrying Costs Monthly Installment means Lender’s estimate of one-twelfth (1/12th) of the annual amount for Basic Carrying Costs or with respect to insurance premiums financed in accordance with the terms of this Security Instrument an amount equal to the next installment of the insurance premiums then due. “Basic Carrying Costs Monthly Installment” shall also include, if required by Lender, a sum of money which, together with such monthly installments, will be sufficient to make the payment of each such Basic Carrying Cost at least thirty (30) days prior to the date initially due. Should such Basic Carrying Costs not be ascertainable at the time any monthly deposit is required to be made, the Basic Carrying Costs Monthly Installment shall be determined by Lender in its reasonable discretion on the basis of the aggregate Basic Carrying Costs for the prior Fiscal Year or month or the prior payment period for such cost. As soon as the Basic Carrying Costs are fixed for the then current Fiscal Year, month or period, the next ensuing Basic Carrying Costs Monthly Installment shall be adjusted to reflect any deficiency or surplus in prior monthly payments. If at any time during the term of the Loan Lender determines that there will be insufficient funds in the Basic Carrying Costs Escrow Account to make payments when they become due and payable, Lender shall have the right to adjust the Basic Carrying Costs Monthly Installment such that there will be sufficient funds to make such payments.
Basic Carrying Costs Monthly Installment means, collectively, with respect to all Individual Properties, Lender’s reasonable and good faith estimate of one-twelfth (1/12th) of the annual amount of the aggregate Basic Carrying Costs for all Individual Properties (provided, that Lender may calculate reasonably and in good faith the monthly amount to assure that funds are reserved in sufficient amounts to enable the payment of all Impositions, including, without limitation, taxes and insurance premiums thirty (30) days prior to their respective due dates). If the Basic Carrying Costs for any Individual Property for the then current Fiscal Year or payment period are not ascertainable by Lender at the time a monthly deposit is required to be made, the Basic Carrying Costs Monthly Installment with respect to such Individual Property shall be Lender’s reasonable and good faith estimate based on one-twelfth (1/12th) of the aggregate Basic Carrying Costs for such Individual Property for the prior Fiscal Year or payment period, with reasonable adjustments as determined by Lender. As soon as the Basic Carrying Costs are fixed for the then current Fiscal Year or period, the next ensuing Basic Carrying Costs Monthly Installment shall be adjusted to reflect any deficiency or surplus in prior Basic Carrying Costs Monthly Installments.
Basic Carrying Costs Monthly Installment means Lender’s reasonable estimate of one-twelfth (1/12th) of the annual amount for Basic Carrying Costs. “Basic Carrying Costs Monthly Installment” shall also include, if required by Lender, a sum of money which, together with such monthly installments, will be sufficient to make the payment of each such Basic Carrying Cost at least thirty (30) days prior to the date initially due. Should such Basic Carrying Costs not be ascertainable at the time any monthly deposit is required to be made, the Basic Carrying Costs Monthly Installment shall be determined by Lender in its reasonable discretion on the basis of the aggregate Basic Carrying Costs for the prior Fiscal Year or month or the prior payment period for such cost. As soon as the Basic Carrying Costs are fixed for the then current Fiscal Year, month or period, the next ensuing Basic Carrying Costs Monthly Installment shall be adjusted to reflect any deficiency or surplus in prior monthly payments. If at any time during the term of the Loan Lender determines that there will be insufficient funds in the Basic Carrying Costs Escrow Account to make payments when they become due and payable, Lender shall have the right to adjust the Basic Carrying Costs Monthly Installment such that there will be sufficient funds to make such payments.
Examples of Basic Carrying Costs Monthly Installment in a sentence
Prior to the occurrence of a Cash Management Event, Borrower shall pay to Lender or Lender's designee or to an account identified by Lender or Lender's designee on or prior to each Payment Date, the Required Debt Service Payment for such Payment Date, the Basic Carrying Costs Monthly Installment for the Interest Accrual Period immediately preceding such Payment Date and the Capital Reserve Monthly Installment for the Interest Accrual Period immediately preceding such Payment Date.
Notwithstanding anything contained herein to the contrary, Borrowers may only request disbursements from the Basic Carrying Costs Sub-Account to pay premiums on the Policies to the extent of amounts deposited in the Basic Carrying Costs Sub-Account pursuant to clause (ii) of the definition of "Basic Carrying Costs Monthly Installment".
Notwithstanding anything contained herein to the contrary, Borrower may only request disbursements from the Basic Carrying Costs Sub-Account to pay premiums on the Policies to the extent of amounts deposited in the Basic Carrying Costs Sub-Account pursuant to clause (ii) of the definition of "Basic Carrying Costs Monthly Installment".
Lender shall have no obligation to make such payments if the Basic Carrying Costs Sub-Account is not being funded on a monthly basis with the Basic Carrying Costs Monthly Installment.
The Commission piloted a methodology of diagnosing this phenomenon.
More Definitions of Basic Carrying Costs Monthly Installment
Basic Carrying Costs Monthly Installment means an amount equal to (i) one-twelfth (1/12) of an amount estimated by Lender to be necessary to pay the Impositions for all the Properties payable during the next ensuing twelve (12) months, giving effect to any amount deposited in the Basic Carrying Costs Sub-Account on the Closing Date and (ii) during any Operative Period, DSCR Restricted Period and Franchise Restricted Period, one-twelfth (1/12) of an amount estimated by Lender to be necessary to pay the premiums on the Policies for all the Properties due during the next ensuing twelve (12) months for the renewal of the coverage afforded by the Policies upon the expiration thereof. In the event any of the Policies is a blanket policy insuring risks other than those associated with the Properties, the amount set forth in (ii) above shall be the premium that would be payable to continue such policy in effect for just the Properties, as set forth in the Insuror's Letter.
Basic Carrying Costs Monthly Installment means Lender's good faith estimate of 1/12th of the annual amount of Basic Carrying Costs, calculated so that a sum sufficient to pay any Basic Carrying Cost shall be in the Basic Carrying Costs Sub-Account at least 30 days prior to the due date thereof. Should the Basic Carrying Costs for the current Fiscal Year or payment period not be ascertainable at the time a monthly deposit is required to be made, the Basic Carrying Costs Monthly Installment shall be Lender's good faith estimate based on 1/12th of the aggregate Basic Carrying Costs for the prior Fiscal Year or payment period with reasonable adjustments. As soon as the Basic Carrying Costs are fixed for the current Fiscal Year or period, the next ensuing Basic Carrying Costs Monthly Installment shall be adjusted to reflect any deficiency or surplus in prior Basic Carrying Costs Monthly Installments.
Basic Carrying Costs Monthly Installment means, with respect to each Facility, Lender's good faith estimate of one-twelfth (1/12th) of the annual amount of the relevant Basic Carrying
Basic Carrying Costs Monthly Installment means, with respect to the Real Property Asset, one twelfth (1/12th) of the annual amount (or if Basic Carrying Costs are paid more often than annually, a fraction equal to one divided by the number of full months in the relevant payment period multiplied by the amount payable for such payment period) of Basic Carrying Costs as set forth on the Approved Annual Budget with respect to the Real Property Asset. Should such Basic Carrying Costs not be ascertainable at the time any monthly deposit is required to be made, the Basic Carrying Costs Monthly Installment shall be determined by Lender on the basis of the aggregate Basic Carrying Costs for the prior year or payment period. As soon as the Basic Carrying Costs are fixed for the then current year or payment period, the remaining Basic Carrying Costs Monthly Installments in such year shall be adjusted to reflect any deficiency or surplus in prior monthly payments pursuant to Section 8.
Basic Carrying Costs Monthly Installment means Lender's good faith estimate of 1/12th of the annual amount of Basic Carrying Costs. Should the Basic Carrying Costs for the current Fiscal Year or payment period not be ascertainable at the time a monthly deposit is required to be made, the Basic Carrying Costs Monthly Installment shall be Lender's good faith estimate based on 1/12th of the aggregate Basic Carrying Costs for the prior Fiscal Year or payment period with reasonable adjustments. As soon as the Basic Carrying Costs are fixed for the current Fiscal Year or period, the next ensuing Basic Carrying Costs Monthly Installment shall be adjusted to reflect any deficiency or surplus in prior Basic Carrying Costs Monthly Installments.
Basic Carrying Costs Monthly Installment means the Borrowers' reasonable, good faith estimate of 1/12th of the annual amount of Basic Carrying Costs. Should the Basic Carrying Costs for the current Fiscal Year or payment period not be ascertainable at the time a monthly deposit is required to be made, the Basic Carrying Costs Monthly Installment shall be the Borrowers'
Basic Carrying Costs Monthly Installment means, with respect to all of the Facilities, Lender's reasonable and good faith estimate of one-twelfth (1/12th) of the sum of the annual amounts of all of the relevant Basic Carrying Costs (provided, that Lender may calculate reasonably and in good faith the monthly amount to assure that funds are reserved in sufficient amounts to enable the payment of all Impositions, including, without limitation, taxes and insurance premiums thirty (30) days prior to their respective due dates). If the relevant Basic Carrying Costs for the then current Fiscal Year or payment period are not ascertainable by Lender at the time a monthly deposit is required to be made, the Basic Carrying Costs Monthly Installment shall be Lender's reasonable and good faith estimate based on one-twelfth (1/12th) of the relevant aggregate Basic Carrying Costs for the prior Fiscal Year or payment period, with