Interest Reserve Escrow Account definition

Interest Reserve Escrow Account means Interest Reserve Escrow Account No. 8459314800 maintained by Borrower at Real Estate Creditor to secure payment of interest in respect of the Real Estate Debt in the maximum amount of $825,000.
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Interest Reserve Escrow Account means the account of the Borrower (as assignee of the Parent) pursuant to the terms of the Senior Notes, into which a deposit was made from the proceeds of the Senior Notes to pay the first three years of interest expense due and payable on the Senior Notes.
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Interest Reserve Escrow Account has the meaning given to it Section 4.21.
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Examples of Interest Reserve Escrow Account in a sentence

  • All earnings or interest, if any, on the Interest Reserve Escrow Account shall be and become part of such Interest Reserve Escrow Account and shall be disbursed as provided in this Section 4.21.

  • The Interest Reserve Escrow Account.................................

  • Notwithstanding the Revolving Loan Amount or any term or provision of this Agreement or the other Loan Documents to the contrary, the amount available to be advanced to Borrowers on the Revolving Loan at any one time shall be reduced by the difference, if any, between the Interest Reserve Amount and the amount on deposit in the Interest Reserve Escrow Account.

  • Accordingly, any remaining amounts deposited in such the Interest Reserve Escrow Account are released to Borrower and there shall be no hold-back on funds available under the $25,000,000 Note to satisfy an Interest Reserve Escrow Account requirement.

  • In all cases there must be paid hereunder to be deposited and held in the Interest Reserve Escrow Account, an amount sufficient to pay a portion of the Basic Interest due on each of the first twelve (12) Payment Dates in an amount equal to one-twelfth (1/12) of two and one-half percent (2.5%) of the Loan Amount.

  • If the amount on deposit in the Interest Reserve Escrow Account is at least equal to the Interest Reserve Amount, there shall be no reduction under this Section to the amount available to be advanced on the Revolving Loan.

  • The Interest Reserve Escrow Account shall not constitute a trust fund and may be commingled with other monies held by Bank.

  • If Borrowers at any time elect to establish the Interest Reserve Escrow Account, Borrowers shall deposit with Bank a sum in cash earmarked for deposit to an interest bearing account in Borrowers' name at Bank styled "Stratus Interest Reserve Escrow Account" (the "Interest Reserve Escrow Account").

  • Upon the occurrence of an Event of Default, Bank may apply any sums then present in the Interest Reserve Escrow Account to the payment of the Loans in any order of priority in its sole discretion.

  • On the Effective Date, Borrower shall deposit $152,083.33 with Lender or Servicer to be held by and pledged to Lender as additional Collateral for the Loan (the "Interest Reserve Escrow Account").


More Definitions of Interest Reserve Escrow Account

Interest Reserve Escrow Account shall have the meaning ascribed thereto in Section 7.28 hereof.
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Related to Interest Reserve Escrow Account

  • Interest Reserve Account As defined in Section 3.4(d).

  • Interest Reserve Amount has the meaning set forth in Section 5.1(d).

  • Interest Reserve means, for any Calculation Period, the product (expressed as a percentage) of (i) 1.5 times (ii) the Alternate Base Rate as of the immediately preceding Cut-Off Date times (iii) 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.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 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 [*];

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

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

  • 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.

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

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

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

  • Reserve Account means the account designated as such, established and maintained pursuant to Section 5.07.

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

  • Indemnity Escrow Account has the meaning set forth in Section 2.3(c).

  • Adjustment Escrow Account has the meaning set forth in Section 2.4(a)(i).

  • Basis Risk Reserve Fund A fund created as part of the Trust Fund pursuant to Section 5.06 of this Agreement but which is not an asset of any of the REMICs.

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

  • Reserve Funds means, collectively, the Tax and Insurance Reserve Fund, the Replacement Reserve Fund, the Required Repair Fund, the Rollover Reserve Fund, the Ground Lease Reserve Fund, the Excess Cash Flow Reserve Fund and any other escrow fund established by the Loan Documents.

  • 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 Reserve Fund Deposit With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Aggregate Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date; provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of Offered Certificates, the Class B1 Certificates and the Class B2 Certificates has been reduced to zero, the Required Reserve Fund Deposit shall be zero.

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

  • Carryover Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 4.07 in the name of the Trustee for the benefit of the Certificateholders and designated "The Bank of New York in trust for registered Holders of CWABS, Inc., Asset-Backed Certificates, Series 2006-22". Funds in the Carryover Reserve Fund shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.