Impositions and Insurance Reserve Account definition

Impositions and Insurance Reserve Account means the Reserve Account designated to reserve for the payment of Impositions and Insurance Premiums with respect to the Tenant Site Assets.
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Impositions and Insurance Reserve Account has the meaning specified in the Loan Agreement.
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Impositions and Insurance Reserve Account has the meaning set forth in Section 2.11(d) hereof.
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Examples of Impositions and Insurance Reserve Account in a sentence

  • The Manager shall arrange for the payment of all such real estate and personal property taxes, Insurance Premiums and other Operating Expenses payable by the Asset Entities as the same become due and payable out of funds available for that purpose in the Impositions and Insurance Reserve Account (in the manner contemplated by Section 4.03 of the Indenture) or the Operating Account, as applicable.

  • All Operating Expenses will be funded through the Impositions and Insurance Reserve Account or the Operating Account, as applicable, and the Manager shall have no obligation to subsidize, incur, or authorize any Operating Expense that cannot, or will not, be paid by or through the Impositions and Insurance Reserve Account or the Operating Account.

  • The Asset Entities shall deposit or cause to be deposited funds received in accordance with Sections 5.01(a)(v) and 5.01(a)(vii) of the Indenture into the Operating Account for the payment of Capital Expenditures and Operating Expenses (other than Impositions and Insurance Premiums that are to be paid from (and to the extent of) available cash on deposit in the Impositions and Insurance Reserve Account pursuant to the Indenture) in accordance with the amounts and timing set forth in the Budget.

  • If the funds in the Impositions and Insurance Reserve Account as of the end of a Collection Period are less than the amount that is required to be in such Reserve Account pursuant to Section 4.03 of the Indenture, the Obligors shall deposit such deficiency into the Impositions and Insurance Reserve Account on or before the Business Day preceding the related Payment Date.

  • The Indenture Trustee shall, as directed in the Servicing Report, withdraw amounts on deposit in the Impositions and Insurance Reserve Account and distribute such amounts as are required to be distributed pursuant to Section 4.03 of the Indenture.

  • The Impositions and Insurance Reserve Account will not be funded on the Initial Closing Date.

  • To the extent sufficient funds are included within the applicable Reserve Accounts (or, if not sufficient with respect to the Impositions and Insurance Reserve Account, to the extent the Obligors deposit any such deficiency pursuant to this Section 3.03(a)), the Obligors shall be deemed to have satisfied the obligations of the Obligors to make the deposit under the Indenture.

  • The Owners shall deposit funds into the Operating Account for the payment of Capital Expenditures and Operating Expenses (other than Impositions and Insurance Premiums, if any, that are paid directly by the Servicer out of the Impositions and Insurance Reserve Account of the Central Account pursuant to the Loan Documents) in accordance with the amounts and timing set forth in the Budgets.

  • From time to time, but no more frequently than once per month, Borrower Parties may submit to Agent a request for disbursement from the Impositions and Insurance Reserve Account.

Related to Impositions and Insurance 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).

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

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

  • Tax and Insurance Escrow Fund shall have the meaning set forth in Section 7.2 hereof.

  • 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.

  • Insurance Account shall have the meaning set forth in Section 8.6 hereof.

  • 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 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.

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

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

  • 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.

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

  • Yield Maintenance Account The separate trust account maintained and held by the Trustee pursuant to Section 3.16, which account shall bear a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Trust on behalf of the Class A Certificateholders, and which account provides that the Trustee may make, or cause to be made, withdrawals therefrom in accordance with Section 3.16.

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

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

  • Insurance Premiums shall have the meaning set forth in Section 6.1(b) hereof.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class C( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • Security Deposit Account has the meaning given in Section 5.1.

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

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • 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).