Immediate Repair Escrow Account definition

Immediate Repair Escrow Account means an account held by Lender, or Lender's designee, in which the Immediate Repair Deposit will be held, which shall not constitute a trust fund.
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Examples of Immediate Repair Escrow Account in a sentence

  • Lender shall disburse to Borrower all unapplied funds remaining in the Immediate Repair Escrow Account upon receipt of evidence satisfactory to Lender that (i) Borrower has completed, in the manner required by this Loan Agreement, all Reserve Items to be funded by such Reserve Account, and (ii) no Liens exist against the Property with respect to such Reserve Items.

  • Amounts in the Immediate Repair Escrow Account are to be used for the purpose of funding the Immediate Repairs, which Borrower covenants and agrees to perform in accordance with the terms of this Loan Agreement on or before the dates specified on Exhibit C but not later than twelve (12) months from the date hereof.

  • Lender shall make disbursements from the Immediate Repair Escrow Account upon Borrower's performance, to Lender's satisfaction, of all conditions to disbursement set forth in Article 5 of this Loan Agreement.

  • Within ten (10) days after such notice from Lender, Borrower shall deliver the deficiency amount to Lender, and Lender shall deposit in the Immediate Repair Escrow Account and hold and administer same in accordance with this Loan Agreement subject, however, to the terms set forth in Section 4.01(h) above.

  • Lender shall make disbursements from the Immediate Repair Escrow Account upon Borrower’s performance, to Lender’s satisfaction, of all conditions to disbursement set forth in Article 5 of this Loan Agreement.

  • Any amounts in the Immediate Repair Escrow Account, Replacement Reserve Account and the Additional Replacement Reserve Funds (all as defined in the Assumed Loan documents) shall become property of Buyer at Closing and Seller shall not receive any credit therefor.

  • For example, (i) funds held in the Immediate Repair Escrow Account shall not be used to pay for Replacements, Tenant Improvements or Leasing Commissions; (ii) funds held in the Replacement Reserve Account shall not be used to pay for Im.rpediate Repairs, Tenant Improvements or Leasing Commissions, and (iii) funds held in the TI/LC Reserve Account shall not be used to pay for Immediate Repairs or Replacements.

  • Within ten (10) days after such notice from Lender, Borrower shall deliver the deficiency amount to Lender, and Lender shall deposit in the Immediate Repair Escrow Account and hold and administer same in accordance with this Loan Agreement.

  • For example, (i) funds held in the Immediate Repair Escrow Account shall not be used to pay for Replacements, Tenant Improvements or Leasing Commissions; (ii) funds held in the Replacement Reserve Account shall not be used to pay for Immediate Repairs, Tenant Improvements or Leasing Commissions; and (iii) funds held in the TI/LC Reserve Account shall not be used to pay for Immediate Repairs or Replacements.

  • For example, (i) funds held in the Immediate Repair Escrow Account shall not be used to pay for Replacements, Tenant Improvements or Leasing Commissions; (ii) funds held in the replacement Reserve Account shall not be used to pay for Immediate Repairs, Tenant Improvements or Leasing Commissions, and (iii) funds held in the TI/LC Reserve Account shall not be used to pay for Immediate Repairs or Replacements.

Related to Immediate Repair Escrow 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.

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

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

  • 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.

  • Escrow Accounts means a SEK bank account and/or EUR bank account and/or a NOK bank account opened by the Arranger with a reputable bank on which the proceeds from the Bond Issue will be held until the Conditions Precedent for Disbursement have been fulfilled.

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

  • Required Repairs 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.

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

  • 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.

  • Repair facility Means any licensed automotive REPAIR FACILITY capable of performing repair services to a COVERED PART, approved by the ADMINISTRATOR, and at which YOU seek to acquire service under this CONTRACT.

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

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

  • 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.

  • Casualty Amount means five hundred thousand Dollars (USD500,000) (or the equivalent in any other currency);

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

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

  • Contract Funds means the funds that have been appropriated, designated, encumbered, or otherwise made available for payment by the State under this Contract.

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

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,653,198.45.

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

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

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

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

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