Immediate Repair Account definition

Immediate Repair Account shall have the meaning set forth in Section 8.1 hereof.
Sample 1Sample 2Sample 3
Immediate Repair Account shall have the meaning set forth in the Senior Loan Agreement.
Sample 1
Immediate Repair Account shall have the meaning set forth in Section 7.1 hereof. “Immediate Repair Funds” shall have the meaning set forth in Section 7.1 hereof. “Immediate Repairs” shall have the meaning set forth in Section 7.1 hereof. “Improvements” shall have the meaning set forth in the granting clause of the Security Instrument. “Indebtedness” shall mean, for any Person, without duplication: (i) all indebtedness of such Person for borrowed money, for amounts drawn under a letter of credit, or for the deferred purchase price of property for which such Person or its assets is liable, (ii) all unfunded amounts under a loan agreement, letter of credit, or other credit facility for which such Person would be liable if such amounts were advanced thereunder, (iii) all amounts required to be paid by such Person as a guaranteed payment to partners or a preferred or special dividend, including any mandatory redemption of shares or interests, (iv) all indebtedness guaranteed by such Person, directly or indirectly, (v) all obligations under leases that constitute capital leases for which such Person is liable, and (vi) all obligations of such Person under interest rate swaps, caps, floors, collars and other interest hedge agreements, in each case whether such Person is liable contingently or otherwise, as obligor, guarantor or otherwise, or in respect of which obligations such Person otherwise assures a creditor against loss. “Indemnified Parties” shall mean (i) Lender, (ii) any successor owner or holder of the Loan or participations in the Loan, (iii) any Servicer or prior Servicer of the Loan, (iv) any Investor or any prior Investor in any Securities, (v) any trustees, custodians or other fiduciaries who hold or who have held a full or partial interest in the Loan for the benefit of any Investor or other third party, (vi) any receiver or other fiduciary appointed in a foreclosure or other Creditors Rights Laws proceeding, (vii) any officers, directors, shareholders, partners, members, employees, agents, servants, representatives, contractors, subcontractors, Affiliates or subsidiaries of any and all of the foregoing, and (viii) the heirs, legal representatives, successors and assigns of any and all of the foregoing (including, without limitation, any successors by merger, consolidation or acquisition of all or a substantial portion of the Indemnified Parties’
Sample 1

Examples of Immediate Repair Account in a sentence

  • Upon the completion of all Immediate Repairs in accordance with this Section 8.1, Lender shall release any remaining Immediate Repairs Funds, if any, in the Immediate Repair Account to Borrower.

  • Provided that no Event of Default has occurred and is continuing and/or no Trigger Period then exists, any excess funds on deposit in the Immediate Repair Account after the completion of all required Immediate Repairs shall be deposited in the Cash Management Account and applied in accordance with Section 9.3 hereof.

  • Following the completion of all Immediate Repairs as reasonably determined by Lender, so long as no Event of Default has occurred and is continuing, Lender shall cause any Immediate Repair Funds remaining in the Immediate Repair Account to be deposited into the Cash Management Account to be applied in accordance with Section 9.3 hereof.

  • In the event that a Borrower Immediate Repair Period shall occur, Borrower shall, within five (5) Business Days of such occurrence, deposit into the Immediate Repair Account an amount equal to the amount of the outstanding immediate repairs as reasonably determined by Lender with respect to the Waived Immediate Repair Property that relates to such Borrower Immediate Repair Period.

  • Upon such delivery to Lender of a Letter of Credit in the amount equal to the amount of Immediate Repairs Funds held by Cash Management Bank in cash on the date of delivery of such Letter of Credit and provided that no Event of Default has occurred and is continuing, Lender shall promptly cause the Cash Management Bank to disburse any funds held by the Cash Management Bank in cash in the Immediate Repair Account to Borrower.

  • On the Closing Date, Borrower shall deposit into an Eligible Account held by Lender or Servicer (the "Immediate Repair Account") an amount equal to $201,250, such amount representing 115% of the estimated costs of the Immediate Repairs.

  • On the Closing Date, Borrower shall deposit into an Eligible Account held by Lender or Servicer (the "Immediate Repair Account") an amount equal to $269,788.00, such amount representing 115% of the estimated costs of the Immediate Repairs.

Related to Immediate Repair Account

  • Required Repair Account shall have the meaning set forth in Section 7.1.1 hereof.

  • Required Repair Fund shall have the meaning set forth in Section 7.1.1 hereof.

  • 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.

  • Required Repairs shall have the meaning set forth in Section 7.1.1 hereof.

  • Operating Accounts shall have the meaning ascribed to it in Section 4.03.A.

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

  • Emergency Repairs means repairs to a utility facility located in or adjacent to a primary city street that must be performed immediately when the necessity arises to safeguard life or property or maintain continued operation of the facility.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

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

  • Project Account means the account referred to in Section 3.03 of this Agreement;

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

  • 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);

  • Project Funds means all moneys disbursed to the Recipient by the State Water Board for eligible Project Costs pursuant to this Agreement.

  • Construction Fund means an account specifically identified in the Indenture to hold funds which are currently available for expenditure to acquire or construct public facilities eligible under the Act.

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

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

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(g) in the name of the Trustee for the benefit of the Certificateholders and designated “U.S. Bank National Association, in trust for registered holders of Home Equity Asset Trust 2004-2, Home Equity Pass-Through Certificates, Series 2004-2. Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

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

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

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

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

  • Project Fund means the fund required to be established by this Resolution for the deposit of the proceeds of the Bonds.

  • Levy reduction funds means increases in state funds from

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Adjustment Escrow Account means the escrow account established by the Escrow Agent pursuant to the Escrow Agreement for purposes of holding the Adjustment Escrow Amount and any interest or earnings accrued thereon or in respect thereof.