Ground Lease Escrow Fund definition

Ground Lease Escrow Fund shall have the meaning set forth in Section 7.4 hereof.
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Ground Lease Escrow Fund shall have the meaning set forth in the Mortgage Loan Agreement.
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Ground Lease Escrow Fund has the meaning assigned in Section 3.1(d).
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Examples of Ground Lease Escrow Fund in a sentence

  • The Ground Lease Escrow Fund is for the purpose of paying all sums due under the Ground Lease.

  • During any period in which Ground Rent is being escrowed on a monthly basis pursuant to this Section 7.4, Lender will apply the Ground Lease Escrow Fund to payments of the Ground Rent.

  • Upon the occurrence of an Event of Default, Lender may apply any sums then present in the Ground Lease Escrow Fund to the payment of the Debt in any order in its sole discretion.

  • Borrower shall not, without obtaining the prior written consent of Lender, further pledge, assign or grant any security interest in the Ground Lease Escrow Fund or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 Financing Statements, except those naming Lender as the secured party, to be filed with respect thereto.

  • Until expended or applied as above provided, the Ground Lease Escrow Fund shall constitute additional security for the Debt.

  • Borrower hereby pledges, assigns and grants a security interest to Lender, as security for payment of all sums due under the Loan and the performance of all other terms, conditions and provisions to be paid and performed, of all Borrower's right, title and interest in and to the Ground Lease Escrow Fund.

  • Upon a Cash Sweep Cure, Borrower shall deposit with Lender in cash or cash equivalent (including a Letter of Credit) to the extent necessary to achieve a balance in the Ground Lease Escrow Fund equal to the Ground Rent which may be due during the month immediately following the month in which monthly escrows are discontinued (the amount then remaining in the Ground Lease Escrow Fund after giving effect to such deposit, the “Subsequent Ground Lease Escrow Deposit”).

  • If the amount of the Ground Lease Escrow Fund (excluding the Initial Ground Lease Escrow Deposit or the Subsequent Ground Lease Escrow Deposit, as applicable) shall exceed the amounts due for Ground Rent, Lender shall, at the option of Borrower, return any excess to Borrower or credit such excess against future payments to be made to the Ground Lease Escrow Fund.

  • Any amount remaining in the Ground Lease Escrow Fund after the Debt has been paid in full or the Individual Property subject to the Ground Lease has been released shall be returned to Borrower.

  • Lender shall determine, in its reasonable discretion, the initial deposit amounts (the “Initial Deposits”) required to be deposited in each of the Tax and Insurance Escrow Fund, the Replacement Reserve Fund, the Required Repair Fund, the Rollover Reserve Fund and the Ground Lease Escrow Fund and Borrower shall deposit the respective Initial Deposits into each Account on the Closing Date.


More Definitions of Ground Lease Escrow Fund

Ground Lease Escrow Fund shall have the meaning set forth in Section ------------------------ ------- 7.5 hereof. ---
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Ground Lease Escrow Fund shall have the meaning set forth in SECTION 7.5 hereof.
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Ground Lease Escrow Fund as defined in Section 3.19 of the Security Instrument.
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Related to Ground Lease Escrow Fund

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

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • 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.

  • Indemnity Escrow Agreement means the Indemnity Escrow Agreement substantially in the form attached hereto as Exhibit B, among the Sellers, the Buyers and the Escrow Agent.

  • Indemnity Escrow Fund means the Indemnity Escrow Amount deposited with the Escrow Agent, as such sum may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Qualified escrow fund means an escrow arrangement with a federally or state-chartered financial institution having no affiliation with any tobacco product manufacturer and having assets of at least one billion dollars where such arrangement requires that such financial institution hold the escrowed funds’ principal for the benefit of releasing parties and prohibits the tobacco product manufacturer placing the funds into escrow from using, accessing, or directing the use of the funds’ principal except as consistent with section 453C.2, subsection 2, paragraph “b”.

  • Indemnity Escrow Amount means $3,000,000.

  • Ground Leases Those certain leases with respect to real property that is a portion of the Leased Property, pursuant to which Landlord is a tenant and which leases have either been approved by Tenant or are in existence as of the date hereof and listed on Schedule A hereto.

  • Indemnification Escrow Fund means the Indemnification Escrow Amount deposited into escrow pursuant to the Escrow Agreement, together with any interest and income earned thereon.

  • Release Property shall have the meaning set forth in Section 2.6 hereof.

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit L, with such amendments, modifications or supplements thereto as may be approved by the Administrative Agent.

  • Deposit Escrow Agreement has the meaning set forth in Section 2.2.

  • Co-op Lease With respect to a Co-op Loan, the lease with respect to a dwelling unit occupied by the Mortgagor and relating to the stock allocated to the related dwelling unit.

  • Escrowed Property has the meaning set forth in the Escrow Agreement.

  • Escrow Fund means the escrow fund established pursuant to the Escrow Agreement.

  • Adjustment Escrow Funds means the amounts held in the Adjustment Escrow Account, including any dividends, interest, distributions and other income received in respect thereof, less any losses on investments thereof, less distributions thereof in accordance with this Agreement and the Escrow Agreement.

  • Closing Escrow Agreement means the Closing Escrow Agreement, dated as of the date hereof, between the Company, Xxxx Capital Partners, LLC and the escrow agent (the “Escrow Agent”) identified therein, in the form of Exhibit B hereto.

  • Escrow Property has the meaning set forth in the Escrow Agreement.

  • Adjustment Escrow Fund means the Adjustment Escrow Amount deposited with the Escrow Agent, as such amount may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any remaining interest or other amounts earned thereon.

  • Indemnification Escrow Amount has the meaning set forth in Section 2.2(b).

  • Indemnification Escrow Agreement means that certain Indemnification Escrow Agreement in the form attached hereto as Exhibit D, with such changes as may be agreed to among the Buyer, the Seller and the Escrow Agent.

  • Escrow Funds means the Advance funds deposited with the Escrow Agent pursuant to this Agreement.

  • Adjustment Escrow Account means the escrow account established pursuant to the Escrow Agreement in respect of the Adjustment Escrow Amount.

  • Qualified Ground Lease means each of the ground leases or ground subleases set forth on Schedule 1.01(d) hereto and for a Future Property means any ground lease (a) which is a direct ground lease or ground sublease granted by the fee owner of real property or a master ground lessee from such fee owner, (b) which may be transferred and/or assigned without the consent of the lessor (or as to which the lease expressly provides that (i) such lease may be transferred and/or assigned with the consent of the lessor and (ii) such consent shall not be unreasonably withheld or delayed) or subject to certain reasonable pre‑defined requirements, (c) which has a remaining term (including any renewal terms exercisable at the sole option of the lessee) of at least twenty (20) years, (d) under which no material default has occurred and is continuing, (e) with respect to which a Lien may be granted without the consent of the lessor (but subject to customary requirements regarding the nature of the holder of such Lien and prior notice to the lessor), (f) which contains customary and reasonable lender protection provisions, including, without limitation, provisions to the effect that (i) the lessor shall notify any holder of a Lien in such lease of the occurrence of any default by the lessee under such lease and shall afford such holder the option to cure such default, and (ii) in the event that such lease is terminated, such holder shall have the option to enter into a new lease having terms substantially identical to those contained in the terminated lease and (g) which otherwise contains no non-customary terms that are material and adverse to the lessee.

  • Hotel Property means a Property on which there is located an operating hotel.

  • Escrow Deposit has the meaning set forth in Section 3.3.