Impound Charges means real estate taxes on the Property or payments in lieu thereof and premiums on any insurance required by this Lease. Landlord shall determine the amount of the Impound Charges and of each Impound Payment. The Impound Payments shall be held in a separate account and shall not be commingled with other funds of Landlord and interest thereon shall be held for the account of Tenant. Landlord shall apply the Impound Payments to the payment of the Impound Charges in such order or priority as Landlord shall determine or as required by law. If at any time the Impound Payments theretofore paid to Landlord shall be insufficient for the payment of the Impound Charges, Tenant, within ten (10) days after Landlord's demand therefor, shall pay the amount of the deficiency to Landlord.
Impound Charges has the meaning provided in Section 17.9.
Impound Charges. As defined in Section 17.9.
Examples of Impound Charges in a sentence
Landlord shall determine the amount of the Impound Charges and of each Impound Payment.
Landlord shall apply the Impound Payments to the payment of the Impound Charges in such order or priority as Landlord shall determine or as required by law.
As used herein, "Impound Charges" shall mean real estate taxes on the Property or payments in lieu thereof and premiums on any insurance required by this Lease.
Landlord shall have the right during the continuance of an Event of Default to require Tenant to pay to Landlord an additional monthly sum (each an "Impound Payment") sufficient to pay the Impound Charges (as hereinafter defined) as they become due.
If at any time the Impound Payments theretofore paid to Landlord shall be insufficient for the payment of the Impound Charges, Tenant, within ten (10) days after Landlord's demand therefor, shall pay the amount of the deficiency to Landlord.
More Definitions of Impound Charges
Impound Charges. As defined in Article 22.
Impound Charges means real estate taxes on the Subleased Property or payments in lieu thereof, rental or other payments due to Lessor under the Master Lease and premiums on any insurance required by this Sublease. Sublandlord shall determine the amount of the Impound Charges and of each Impound Payment. The Impound Payments shall be held in a separate account and shall not be commingled with other funds of Sublandlord and interest thereon shall be held for the account of Subtenant. Upon Subtenant's tendering to Sublandlord of invoices therefor no later than thirty (30) days prior to the respective due dates thereof, Sublandlord shall apply the Impound Payments to the payment of the Impound Charges in such order or priority as Sublandlord shall reasonably determine or as otherwise required by law. If at any time the Impound Payments theretofore paid to Sublandlord shall be insufficient for the payment of the Impound Charges, Subtenant, within 10 days after Sublandlord's written demand therefor, shall pay the amount of the deficiency to Sublandlord.
Impound Charges means real estate taxes on the Leased Property or payments in lieu thereof and premiums on any insurance required by this Lease. Landlord shall determine the amount of the Impound Charges and of each Impound Payment. The Impound Payments shall be held in a separate account and shall not be commingled with other funds of Landlord and interest thereon shall be held for the
Impound Charges means, real estate taxes on the Leased Property or payments in lieu thereof and premiums on any insurance required by this Lease. Subject to the provisions of the Facility Mortgage, Landlord shall determine the amount of the Impound Charges and of each Impound Payment. Subject to the provisions of the Facility Mortgage, the Impound Payments shall be held in a separate account and shall not be commingled with other funds of Landlord and interest thereon shall be held for the account of Tenant. Landlord shall apply the Impound Payments to the payment of the Impound Charges in such order or priority as Landlord shall determine or as required by law or as required by the Facility Mortgagee. If at any time the Impound Payments theretofore paid to Landlord shall be insufficient for the payment of the Impound Charges, Tenant, within ten (10) days after the Landlord's demand therefore, shall pay the amount of the deficiency to the Landlord plus interest thereon at the Overdue Rate for each day beyond the tenth (10th) day following such demand until paid. Notwithstanding the foregoing, it is hereby agreed that Tenant shall pay all real estate taxes on the Leased Property on a monthly installment basis in accordance with the payment procedures hereinabove set forth. In addition, Landlord and Tenant agree that Tenant shall not be required to pay insurance premiums on a monthly installment basis as set forth above unless it is so required by a Facility Mortgagee.
Impound Charges means real estate taxes on the Property or payments in lieu thereof and premiums on any insurance required by this Lease. Landlord shall reasonably determine the amount of the Impound Charges and of each Impound Payment. Landlord's reasonable determination shall be based upon previous tax and insurance bills. The Impound Payments shall be held in a separate account and shall not be commingled with other funds of Landlord and interest thereon shall be held for the account of Tenant. Landlord shall apply the Impound Payments to the payment of the Impound Charges in such order or priority as Landlord shall determine or as required by law. If at any time the Impound Payments theretofore paid to Landlord shall be insufficient for the payment of the Impound Charges, Tenant, within ten (10) days after Landlord's demand therefor, shall pay the amount of the deficiency to Landlord.
Impound Charges means (i) real estate taxes on the Leased Property or payments in lieu thereof, (ii) premiums on any insurance required by this Lease and (iii) any replacement reserves or repair escrows or any other escrowed amounts required under Sections 1.2, 5.2 and 5.4 of the Fee Mortgage; provided, however, that Landlord may not agree to additional reserves under the Fee Mortgage executed on or about the date hereof without Tenant's consent. Landlord shall determine the amount of the Impound Charges and of each Impound Payment. Except as otherwise provided by the Fee Mortgage, the Impound Payments shall be held in a separate account and shall not be commingled with other funds of Landlord and interest thereon shall be held for the account of Tenant. Landlord shall apply the Impound Payments to the payment of the Impound Charges in such order or priority as Landlord shall determine or as required by law or the Fee Mortgagee. If at any time the Impound Payments theretofore paid to Landlord shall be insufficient for the payment of the Impound Charges, Tenant, within ten (10) days after the Landlord's demand therefor, shall pay the amount of the deficiency to Landlord plus interest thereon at the Overdue Rate from the date of such demand until paid.
Impound Charges means real estate taxes on the Leased Property or payments in lieu thereof, and premiums on any insurance required by this Lease. Landlord shall determine the amount of the Impound Charges and of each Impound Payment. The Impound Payments shall be held in a separate account and shall not be commingled with other funds of Landlord and interest thereon shall be held for the account of Tenant. Upon Tenant's tendering to Landlord of invoices therefor no later than thirty (30) days prior to the respective due dates thereof, Landlord shall apply the Impound Payments to the payment of the Impound Charges in such order or priority as Landlord shall reasonably determine or as otherwise required by law. If at any time the Impound Payments theretofore paid to Landlord shall be insufficient for the payment of the Impound Charges, Tenant, within 10 days after Landlord's written demand therefor, shall pay the amount of the deficiency to Landlord.