Insurance Funds definition
Insurance Funds shall have the meaning set forth in Section 6.3.1.
Insurance Funds. The Insurance Funds shall be held in the Insurance Escrow Subaccount (as defined in the Cash Management Agreement), which shall be an Interest Bearing Account. If at any time Agent reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Agent shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Agent reasonably estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies. Notwithstanding the foregoing, provided no Event of Default is continuing, Agent agrees that upon delivery to Agent by Borrower of evidence satisfactory to Agent that the Policies of insurance required to be maintained by Borrower pursuant to Section 5.1.1 are maintained pursuant to blanket insurance Policies covering the Property and other properties and which blanket insurance Policies otherwise comply with the requirements of Section 5.1.1 and the Insurance Premiums payable in connection therewith have been prepaid for not less than one year in advance (or, for the period of coverage under the Policies as to which certificates are delivered at closing, such period, if less than one year), then Borrower’s obligation to make monthly deposits of the Insurance Funds pursuant to this Section 6.3.1 shall be suspended. Upon request of Agent, Borrower shall provide evidence satisfactory to Agent that the Insurance Premiums payable in connection with such blanket insurance Policies are paid as soon as appropriate evidence is reasonably available.
Insurance Funds has the meaning given such term in Section 7.3.3.
Examples of Insurance Funds in a sentence
The reserves required to be maintained under the immediately preceding sentence are referred to collectively as the “Insurance Reserve,” and the amounts deposited into the Insurance Reserve are referred to herein as the “Insurance Funds.” Except as otherwise provided in Section 7.3.3 (b) below, the Insurance Reserve and all Insurance Funds on deposit therein shall be held as additional collateral security for the payment and performance of the Obligations.
More Definitions of Insurance Funds
Insurance Funds. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify Borrower of such determination and the monthly deposits for Insurance Premiums shall be increased by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to expiration of the Policies.
Insurance Funds shall have the meaning set forth in the Mortgage Loan Agreement.
Insurance Funds. Mortgage Loan Agreement
Insurance Funds. 6.4.1 “Insurance Premiums” - 5.1.1(b) “Insurance Proceeds” - 5.4(b) “Intellectual Property” - 3.1.33 “Interest Period” - 2.3.2 “Lease Sweep Account” - 6.13.1 “Lease Sweep Funds” - 6.13.1
Insurance Funds. 5.3 “Insurance Premiums” – 4.1(b)
Insurance Funds. If at any time Lender reasonably determines that the Insurance Funds will not be sufficient to pay the Insurance Premiums, Lender shall notify
Insurance Funds means the technical provisions maintained by the Group in respect of insurance and investment contracts and any unallocated surplus in respect of the Group’s long term insurance business;