Ground Lease Reserve Account definition

Ground Lease Reserve Account shall have the meaning set forth in Section 7.5.1 hereof.
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Ground Lease Reserve Account shall have the meaning set forth in the Mortgage Loan Agreement.
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Ground Lease Reserve Account shall have the meaning set forth in Section 7.4.1.
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Examples of Ground Lease Reserve Account in a sentence

  • Lender shall apply any amounts held in the Ground Lease Reserve Account to the payment of Ground Rent under the Ground Lease.

  • Any amounts in the Ground Lease Reserve Account remaining after the Debt has been paid in full shall be returned to Borrower.

  • If a Ground Lease Reserve Fund is required pursuant to this Section 7.4 and provided that there are sufficient funds on deposit in the Ground Lease Reserve Account, Lender shall be responsible for any late fees, penalties or interest resulting from Lender’s failure to apply amounts on deposit in the Ground Lease Reserve Account to the payment of Ground Rent on or before the date due under the Ground Lease.

  • If the amount in the Ground Lease Reserve Accounts shall exceed the amounts due for rents and other charges under the Ground Leases for the immediately succeeding twelve (12) months as determined by Lender, Lender shall, in its sole discretion, return any excess to Borrower or credit such excess against future payments to be made to the Ground Lease Reserve Account.

  • During the wedding festivities, the "seer" went to her new house a few kilometers away from the noise of the wedding party with husband alongside her and had a "vision".

  • Lender shall have the right to apply amounts in the Ground Lease Reserve Account to the payment of the Ground Rent.

  • In addition, at Lender’s election, Borrower shall lose all of its rights to receive interest on the Replacement Reserve Account, the Ground Lease Reserve Account and the Leasing Reserve Account during the continuation of an Event of Default.

  • Lender shall have the right to apply amounts in the Ground Lease Reserve Account to payment of rents and other charges due under any Ground Lease.

  • Lender shall apply any amounts held in the Ground Lease Reserve Account to the payment of Ground Rent under the Ground Leases.

  • If as of any Payment Date, Administrative Agent reasonably determines that the Ground Lease Reserve Fund is not or will not be sufficient to pay the next succeeding payments due under the Ground Leases, Administrative Agent shall notify Borrower of such determination and Borrower shall deposit into the Ground Lease Reserve Account, an amount that Administrative Agent estimates is sufficient to make up the deficiency within five (5) Business Days of such demand.


More Definitions of Ground Lease Reserve Account

Ground Lease Reserve Account has the meaning set forth in Section 3.1 hereof.
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Related to Ground Lease Reserve Account

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

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

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

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

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

  • Interest Reserve Account means that Interest Reserve Account maintained by the Master Servicer pursuant to Section 5.1(a), which account shall be an Eligible Account.

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

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Series Reserve Account means the Reserve Account for the Series of Bonds established in the Reserve Fund by Supplemental Indenture in an amount equal to the Series Reserve Account Requirement for such Series of Bonds.

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.

  • Excess Liquidation Proceeds Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

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

  • Initial Reserve Account Deposit means $3,250,000.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,635,875.59.

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

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

  • Initial Reserve Account Deposit Amount means an amount equal to $1,030,941.16.

  • Reserve Funds means, collectively, the Tax and Insurance Escrow Fund, the Replacement Reserve Fund, the Required Repair Fund, the Initial Renovation Reserve Fund, the Interest Reserve Fund, the General Reserve Fund, any funds on deposit in the Construction Loan Reserve Account, any Shortfall Funds and any other escrow fund established pursuant to the Loan Documents.

  • Reserve Account Required Amount means, with respect to any Payment Date, the lesser of (i) the excess of (A) the Specified Reserve Balance, over (B) the amount on deposit in the Reserve Account on such Payment Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Payment Date, and (ii) the amount remaining in the Indenture Collections Account after taking into account the distributions therefrom described in clauses (i) through (xiv) of Section 8.3(a) of the Indenture.

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

  • Reserve Account Excess Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the amount of cash or other immediately available funds in the Reserve Account (excluding any net investment earnings) on that Payment Date, after giving effect to all deposits to and withdrawals from the Reserve Account on such Payment Date, over (b) the Specified Reserve Account Balance with respect to such Payment Date.

  • Available Reserve Account Amount means, with respect to any Distribution Date, the lesser of (a) the amount on deposit in the Reserve Account on such date (before giving effect to any deposit to be made to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).