Ground Rent Reserve Fund definition

Ground Rent Reserve Fund shall have the meaning set forth in Section 7.7.1 hereof.
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Ground Rent Reserve Fund shall have the meaning set forth in the Mortgage Loan Agreement.
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Ground Rent Reserve Fund shall have the meaning set forth in the Mortgage Loan Agreement. As of the date hereof, and notwithstanding any requirement to the contrary in any other Mortgage Loan Document, there shall be no further obligation under the Mortgage Loan Agreement to deposit or pay sums to the Ground Rent Reserve Fund.
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Examples of Ground Rent Reserve Fund in a sentence

  • In making any payment relating to the Ground Rent Reserve Fund, the Depository Bank may do so according to any xxxx or other evidence of the amounts due as Borrower shall have provided as required above, without inquiry into the accuracy of such xxxx or other evidence.

  • If the amount of the Ground Rent Reserve Fund shall exceed the amounts required to pay all rent and other amounts payable by Borrower under the Ground Lease, Administrative Agent shall, in its sole and absolute discretion, return any excess to Borrower or credit such excess against future payments to be made to the Ground Rent Reserve Fund.

  • Provided that no Event of Default has occurred and is continuing, Administrative Agent will direct the Depository Bank to apply the Ground Rent Reserve Fund to payments of rent and other amounts payable by Borrower under the Ground Lease but not, in any event, earlier than ten (10) days prior to the due dates thereof and, in any event, only to the extent sufficient funds are then available in the Ground Rent Reserve Fund.

  • If the amount of the Ground Rent Reserve Fund shall exceed the amounts due for the Ground Rent under the Ground Lease 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 Rent Reserve Fund.

  • To the extent Borrower is making any deposits (other than the Initial Ground Rent Reserves Deposit) in accordance with Section 7.4.1, Lender shall apply amounts in the Ground Rent Reserve Fund to the payment of the Ground Rent on or before the same shall become delinquent.

  • Provided no Event of Default has occurred and is continuing, any funds held in the Ground Rent Reserve Fund shall be released to Borrower upon the occurrence of a Low DSCR Release Event and, in such event Borrower shall no longer be required to cause any amounts to be deposited into the Ground Rent Reserve Account unless a Low DSCR Trigger Event occurs with respect to any future calendar quarter.

  • If at any time Lender reasonably determines that the Ground Rent Reserve Fund is not or will not be sufficient to pay the Ground Rent by the dates set forth above, Lender shall notify Borrower of such determination and Borrower shall increase its monthly payments to Lender by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to the due date of the Ground Rent.

  • Lender shall apply amounts in the Ground Rent Reserve Fund to the payment of the Ground Rent.

  • Notwithstanding the foregoing, Lender may rely upon any bxxx, statement or estimate received from a Ground Lessor in making any payment of Ground Rent from the Ground Rent Reserve Fund.

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


More Definitions of Ground Rent Reserve Fund

Ground Rent Reserve Fund has the meaning assigned to such term in Section 4.2.
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Ground Rent Reserve Fund shall have the meaning set forth in Section 9.2 hereof.
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Ground Rent Reserve Fund shall have the meaning set forth in Section 7.4.1 of the Original Loan Agreement. As of the date hereof, and notwithstanding any requirement to the contrary in any other Loan Document, there shall be no further obligation to deposit or pay sums to the Ground Rent Reserve Fund.
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Related to Ground Rent Reserve Fund

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

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

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

  • Rent Reserve means, with respect to any plant, warehouse distribution center or other operating facility where any Inventory subject to landlords’ Liens or other Liens arising by operation of law is located and a Collateral Access Agreement has not been duly executed and delivered by the lessor or bailee at such location, a reserve equal to three (3) month’s rent at such plant, warehouse distribution center, or other operating facility, and such other reserve amounts that may be determined by the Administrative Agent in its reasonable discretion.

  • 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 [*];

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

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

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

  • 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.

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

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

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

  • Carryover Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 4.07 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered Holders of CWABS, Inc., Asset-Backed Certificates, Series 2006-22". Funds in the Carryover Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.

  • Basis Risk Reserve Fund A fund created as part of the Trust Fund pursuant to Section 5.06 of this Agreement but which is not an asset of any of the REMICs.

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • 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.

  • Required Reserve Fund Deposit With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Aggregate Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date; provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of Offered Certificates, the Class B1 Certificates and the Class B2 Certificates has been reduced to zero, the Required Reserve Fund Deposit shall be zero.

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

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

  • 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.

  • Principal Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.08 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered Holders of CWABS, Inc., Asset-Backed Certificates, Series 2006-22". Funds in the Principal Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.

  • Interest Reserve Amount has the meaning set forth in Section 5.1(d).

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