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 has the meaning set forth in Section 3.1 hereof.
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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.

  • Upon the occurrence of an Escrow Period, Borrower shall begin to make payments to the Ground Lease Reserve Account in accordance with the terms and provisions of Section 7.3.1 commencing on the next occurring Payment Date.

  • 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.

  • 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.

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

  • Notwithstanding the terms and provisions of Section 7.3.1 and Section 7.3.2, Borrower shall not be required to contribute to the Ground Lease Reserve Account, except during the continuance of an Escrow Period.

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

  • 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.

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

  • Any amount remaining in the Ground Lease Reserve Account after the Debt has been paid in full shall be returned to Borrower and no other party shall have any right or claim thereto.


More Definitions of Ground Lease Reserve Account

Ground Lease Reserve Account shall have the meaning set forth in Section 7.4.1.
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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 shall have the meaning given to it in the Depository Agreement.

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

  • Interest Reserve Account As defined in Section 3.4(d).

  • 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 Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service 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 $3,000,000.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,802,496.17.

  • 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 $12,240,151.27.

  • Reserve Funds means, collectively, the Tax and Insurance Reserve Fund, the Replacement Reserve Fund, the Required Repair Fund, the Rollover Reserve Fund, the Ground Lease Reserve Fund, the Excess Cash Flow Reserve Fund and any other escrow fund established by the Loan Documents.

  • Reserve Account Required Amount means, with respect to any Payment Date, an amount equal to 0.25% of the Adjusted Pool Balance as of the Cutoff Date; provided, however, that in no event shall the Reserve Account Required Amount on any Payment Date be more than the aggregate Outstanding Amount of the Notes on such Payment Date (after giving effect to the allocation of principal payments on such Payment Date).

  • 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 (i) the amount of cash or other immediately available funds in the Reserve Account on such Payment Date (prior to giving effect to any withdrawals therefrom relating to such Payment Date) over (ii) the Specified Reserve Balance with respect to such Payment Date.

  • Available Reserve Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Reserve Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Reserve Account made or to be made with respect to such date) and (b) the Required Reserve Account Amount, in each case on such Transfer Date.

  • 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).