Impositions Reserve definition

Impositions Reserve. As defined in Section 6.6 hereof.
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Impositions Reserve is defined in Section 2.8 hereof.
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Impositions Reserve. As defined in Section 6.5 hereof. Improvements: Any and all additions, alterations, or repairs, now or at any time hereafter situated, placed, or constructed upon the Land, or certain site improvements to the Land, and the approximately 186,000 square foot office building located on the Land.
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Examples of Impositions Reserve in a sentence

  • Upon the occurrence and during the continuation of an Event of Default, Lender may apply any sums then present in the Impositions Reserve to the payment of such Impositions and the remaining balance, if any, to the other Obligations in any order or priority as Lender might elect in its sole discretion.

  • No interest shall be payable to Borrower in respect to moneys deposited in the Impositions Reserve.

  • Borrower hereby pledges to Lender any and all monies now or hereafter deposited in the Impositions Reserve as additional security for the Obligations.

  • In addition, if the annual deductibles applicable to any insurance policy required to be maintained by Borrower pursuant to this Loan Agreement exceed, in the aggregate, five percent (5%) of the annual net operating income of Borrower, Borrower shall also deposit into the Impositions Reserve an amount equal to one-twelfth (1/12th) of the amount of such deductibles.

  • If the total of such deposits exceeds the amount required to pay the Impositions when due and to establish adequate reserves for the payment of such deductibles, such excess shall be held and credited against the obligation to make subsequent deposits into the Impositions Reserve.

  • Any Advance Exhibit 10.2 requested by Borrower from such Allocation shall be required to satisfy the same conditions as required for a disbursement from the Impositions Reserve as described in Section 6.6 hereof.

  • Upon Borrower’s establishment of the Impositions Reserve pursuant to Section 6.6 hereof, Lender shall have no further obligation to make Advances from the Tax and Insurance Allocation.

  • Any Advance requested by Borrower from such Allocation shall be required to satisfy the same conditions as required for a disbursement from the Impositions Reserve as described in Section 6.6 hereof.

  • Upon the earlier of Borrower first being required to make deposits into the Impositions Reserve pursuant to Section 6.6 hereof or an Advance of the entire Tax and Insurance Allocation, Borrower shall fund further real estate tax and insurance premium costs directly (or, subject to the requirements of Section 6.6 hereof, from the Impositions Reserve) and shall not be entitled to any other Advance for such purpose.

  • Such sums deposited and held in an Impositions Reserve account with the Lender shall accrue interest at Lender’s money market rate for the purposes of paying such premiums and Impositions.

Related to Impositions Reserve

  • Operating Reserve means generation capacity or load reduction capacity which can be called upon on short notice by either Party to replace scheduled energy supply which is unavailable as a result of an unexpected outage or to augment scheduled energy as a result of unexpected demand or other contingencies.

  • FF&E Reserve means, for any Person or any Hotel Property at any time, a reserve equal to four percent (4%) of gross revenues from any Hotel Property owned by such Person or from such Hotel Property, as applicable, for the Rolling Period of the Parent most recently ended for which financial statements have been, or are required to be, delivered to the Banks hereunder.

  • Spinning Reserve means the ability to immediately and automatically increase generation or reduce demand in response to a fall in frequency;

  • Rent Reserve means, with respect to any store, warehouse distribution center, regional distribution center or depot where any Inventory subject to Liens arising by operation of law is located, a reserve equal to two (2) months’ rent at such store, warehouse distribution center, regional distribution center or depot.

  • LC Reserve the aggregate of all LC Obligations, other than (a) those that have been Cash Collateralized; and (b) if no Default or Event of Default exists, those constituting charges owing to the Issuing Bank.

  • 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.

  • Cash Reserve means for any Financed Receivable which has been paid in full during a Monthly Period, the amount by which the amount(s) paid on such Financed Receivable exceeds the Advance made on such Financed Receivable.

  • 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.]

  • Rent and Charges Reserve means the aggregate of (a) all past due rent and other amounts owing by a Loan Party to any landlord, warehouseman, processor, repairman, mechanic, shipper, freight forwarder, broker or other Person who possesses any Collateral or could assert a Lien on any Collateral; and (b) a reserve equal to three months rent and other charges that could be payable to any such Person, unless it has executed a Collateral Access Agreement.

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

  • 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.

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

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

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

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

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

  • Administrative Charge means, with respect to any Lease, any payment (whether or not part of the fixed monthly payment) payable to the related Lessor representing a disposition fee, a late payment fee, an Extension Fee, an allocation to the related Lessee of insurance premiums, sales, personal property or excise taxes or any other similar charge.

  • Servicing Reserve means, for any Calculation Period, the product (expressed as a percentage) of (a) the Servicing Fee Rate, times (b) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

  • Loss Reserve means, on any date, an amount equal to the Loss Percentage multiplied by the Net Receivables Balance as of the close of business of the Servicer on such date.

  • Receivables Reserves mean such reserves as may be established from time to time by the Administrative Agent in the Administrative Agent’s Permitted Discretion with respect to the determination of the collectability in the ordinary course of Eligible Accounts Receivables, including, without limitation, reserves for dilution.

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

  • Replacement Reserve As defined in Section 9.5.1.

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Account Charge means, in relation to each of the Charged Accounts, the first priority fixed charge or pledge over all such accounts given or to be given by the relevant account holder thereof in favor of and in form and substance satisfactory to the Security Trustee.