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

  • 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”).

  • Proceeds of the Loan shall be used only for the following purposes: (a) to make the required deposits to the Deferred Maintenance Escrow Account (if any), the Real Estate Taxes Escrow Account and the Insurance Escrow Account; (b) to pay Transaction Costs (including the reasonable out-of-pocket expenses incurred by Lender in connection with the origination and funding of the Loan) and (c) to pay reasonable fees, expenses and disbursements of Lender’s and Borrower’s counsel.

  • On the Closing Date, Lender shall deposit out of the Loan proceeds $127,043.75 in the Deferred Maintenance Escrow Account and $6,395.83 in the Replacement Reserve Account.

  • On the Closing Date, Lender shall deposit out of the Loan proceeds $5,625.00 in the Deferred Maintenance Escrow Account, $41,869.00 in the Leasing Costs/TI Costs Account and $6,498.96 in the Replacement Reserve 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 $23,087.50 in the Deferred Maintenance Escrow Account and $6,154.17 in the Replacement Reserve Account.

  • On the Closing Date, Lender shall deposit out of the Loan proceeds $592,175.00 in the Deferred Maintenance Escrow Account and $6,158.33 in the Replacement Reserve Account.

  • On the Closing Date, Lender shall deposit out of the Loan proceeds $1,045,843.75 in the Deferred Maintenance Escrow Account and $6,504.17 in the Replacement Reserve Account.

  • The two accounts shall be designated the "Deferred Maintenance Escrow Account" (the "Deferred Maintenance Escrow Account") and the "Replacement Reserve Account" (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 pursuant to the Escrow Agreement in respect of the Adjustment Escrow Amount.

  • 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 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 3.04 (a) 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.

  • 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 shall have the meaning given to it in the Depository Agreement.

  • Escrow Accounts means a SEK bank account and/or EUR bank account and/or a NOK bank account opened by the Arranger with a reputable bank on which the proceeds from the Bond Issue will be held until the Conditions Precedent for Disbursement have been fulfilled.

  • 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.

  • Completion Accounts means the consolidated balance sheet of the Group as at the Completion Date to be prepared in accordance with Schedule 8 (Completion Accounts);