Deferred Maintenance Escrow Account definition

Deferred Maintenance Escrow Account has the meaning set forth in Section 2.13(a).
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Examples of Deferred Maintenance Escrow Account in a sentence

  • The funds contained in the Deferred Maintenance Escrow Account shall be utilized by Borrower solely for performance of the Immediate Repairs in accordance with the Property Condition Assessments and Environmental Reports, and shall not be used by Borrower for purposes for which any other Reserve Account is established.

  • In the event Borrower completes the repairs for which funds were reserved in the Deferred Maintenance Escrow Account to the reasonable satisfaction of Lender, Lender shall disburse any and all amounts then on deposit in the Deferred Maintenance Escrow Account to the Collection Account.

  • If required by Agent, on any Advance Closing Date, Agent shall deposit out of the proceeds of an Advance in the Deferred Maintenance Escrow Account for the Borrower an amount for required Capital Improvement Costs to be incurred with respect to the related Property being acquired, based upon the Engineering Reports delivered to Agent and the reasonable determination of the Agent of any additional necessary amounts.

  • The three accounts shall be designated the Deferred Maintenance Escrow Account (the “Deferred Maintenance Escrow Account”), the Replacement Reserve Account (the “Replacement Reserve Account”), and the Leasing Costs/TI Costs Account (the “Leasing Costs/TI Costs Account”).

  • On the Closing Date, Lender shall deposit out of the Loan proceeds $277,675.00 in the Deferred Maintenance Escrow Account and $6,316.67 in the Replacement Reserve Account.

  • On the Closing Date, Lender shall deposit out of the Loan proceeds $346,106.25 in the Deferred Maintenance Escrow Account and $7,483.33 in the Replacement Reserve Account.

  • Original Borrower has timely completed all Deferred Maintenance Conditions in accordance with the terms of the Loan Agreement and the Deferred Maintenance Escrow Account was previously fully disbursed to Original Borrower.

  • On the Closing Date, Lender shall deposit out of the Loan proceeds $46,250.00 in the Deferred Maintenance Escrow Account, $1,310,479.26 in the Leasing Costs/TI Costs Account, $7,530.31 in the Replacement Reserve Account and $314,625.00 in the CEC Prepaid Rent Reserve Account.

  • On the Closing Date, Lender shall deposit out of the Loan proceeds $235,795.00 in the Deferred Maintenance Escrow Account and $7,558.33 in the Replacement Reserve Account.

  • On the Closing Date, Lender shall deposit out of the Loan proceeds $2,187.50 in the Deferred Maintenance Escrow Account and $7,520.83 in the Replacement Reserve Account.

Related to Deferred Maintenance Escrow Account

  • Deferred Maintenance means improvements necessary for continued operations which do not improve productivity or alter the process technology.

  • Yield Maintenance Account The separate trust account maintained and held by the Trustee pursuant to Section 3.16, which account shall bear a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Trust on behalf of the Class A Certificateholders, and which account provides that the Trustee may make, or cause to be made, withdrawals therefrom in accordance with Section 3.16.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Adjustment Escrow Account means the escrow account established by the Escrow Agent pursuant to the Escrow Agreement for purposes of holding the Adjustment Escrow Amount and any interest or earnings accrued thereon or in respect thereof.

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Required Repair Account shall have the meaning set forth in Section 7.1.1 hereof.

  • Revenue Account means the Revenue Account established pursuant to the General Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Replacement Reserve Account shall have the meaning set forth in Section 7.3.1 hereof.

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.

  • Project Account means the account referred to in Section 3.03 of this Agreement;

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Reserve Fund Initial Deposit means the initial deposit of cash in the amount of $3,846,153.85 made by or on behalf of the Seller into the Reserve Fund on the Closing Date.

  • Replacement Reserve Fund shall have the meaning set forth in Section 7.3.1 hereof.

  • Capitalized Interest Account Initial Deposit means $1,733,333.78 deposited on the Closing Date.

  • Tax and Insurance Escrow Fund shall have the meaning set forth in Section 7.2 hereof.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Debt Service Reserve Account as defined in the Depositary Agreement.

  • Escrow Accounts means (1) accounts of Parent or any Subsidiary, solely to the extent any such accounts hold funds set aside by Parent or any Subsidiary to manage the collection and payment of amounts collected, withheld or incurred by Parent or such Subsidiary for the benefit of third parties relating to: (a) federal income tax withholding and backup withholding tax, employment taxes, transportation excise taxes and security related charges, (b) any and all state and local income tax withholding, employment taxes and related charges and fees and similar taxes, charges and fees, including, but not limited to, state and local payroll withholding taxes, unemployment and supplemental unemployment taxes, disability taxes, xxxxxxx’x or workers’ compensation charges and related charges and fees, (c) state and local taxes imposed on overall gross receipts, sales and use taxes, fuel excise taxes and hotel occupancy taxes, (d) passenger facility fees and charges collected on behalf of and owed to various administrators, institutions, authorities, agencies and entities, (e) other similar federal, state or local taxes, charges and fees (including without limitation any amount required to be withheld or collected under applicable law) and (f) other funds held in trust for, or otherwise pledged to or segregated for the benefit of, an identified beneficiary; or (2) accounts, capitalized interest accounts, debt service reserve accounts, escrow accounts and other similar accounts of Parent or any Subsidiary or funds established in connection with the ARB Indebtedness.

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

  • Casualty Retainage means an amount equal to ten percent (10%) of the costs actually incurred for work in place as part of the Restoration, as certified by the Casualty Consultant, until the Restoration has been completed. The Casualty Retainage shall in no event, and notwithstanding anything to the contrary set forth above in this Section 6.4(b), be less than the amount actually held back by Borrower from contractors, subcontractors and materialmen engaged in the Restoration. The Casualty Retainage shall not be released until the Casualty Consultant certifies to Lender that the Restoration has been completed in accordance with the provisions of this Section 6.4(b) and that all approvals necessary for the re-occupancy and use of the Property have been obtained from all appropriate governmental and quasi-governmental authorities, and Lender receives evidence satisfactory to Lender that the costs of the Restoration have been paid in full or will be paid in full out of the Casualty Retainage; provided, however, that Lender will release the portion of the Casualty Retainage being held with respect to any contractor, subcontractor or materialman engaged in the Restoration as of the date upon which the Casualty Consultant certifies to Lender that the contractor, subcontractor or materialman has satisfactorily completed all work and has supplied all materials in accordance with the provisions of the contractor’s, subcontractor’s or materialman’s contract, the contractor, subcontractor or materialman delivers the lien waivers and evidence of payment in full of all sums due to the contractor, subcontractor or materialman as may be reasonably requested by Lender or by the title company issuing the Title Insurance Policy, and Lender receives an endorsement to the Title Insurance Policy insuring the continued priority of the lien of the Mortgage and evidence of payment of any premium payable for such endorsement. If required by Lender, the release of any such portion of the Casualty Retainage shall be approved by the surety company, if any, which has issued a payment or performance bond with respect to the contractor, subcontractor or materialman.