Leasing Reserve definition

Leasing Reserve has the meaning assigned in Schedule 2.6(b).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Leasing Reserve has the meaning set forth in Section 7.1.

Leasing Reserve has the meaning assigned in Schedule 2.6(b). “Leasing Reserve Account” has the meaning assigned in Schedule 2.6(b). “Legal Requirement(s)” means, collectively, common law and all foreign, domestic, federal, state, local and municipal laws, statutes, codes, criteria, standards, ordinances, rules, rulings, Orders, regulations, authorizations, determinations, directives, permits, registrations, licenses and any other requirements and/or provisions (including building codes and zoning regulations and ordinances) of all Governmental Authorities, whether now or hereafter in force, which are or may become applicable to Borrower or any Borrower Party, Lender, the relationship of Lender and Borrower, the Project and any operations thereon, any of the Loan Documents, or any part of any of them (whether or not the same may be valid) and all requirements, obligations and conditions of all instruments of record. Unless otherwise expressly excluded, the term includes Creditors’ Rights Laws and Environmental Laws. “Lender” has the meaning assigned in the Preamble, and any investment advisor, parent, subsidiary or affiliated company of such lender and their respective officers, directors, members, partners, employees, agents, transferees, successors, assigns, affiliates, parent, subsidiaries and any purchaser(s), investor(s), trust(s), assignee(s), lender(s) or participant(s) in a Secondary Market Transaction as defined in Section 8.15(a). “Lender Exposure” means any one or more of the following: (i) the Loan is in violation of Legal Requirements, or (ii) the Project or any other collateral for the Loan or any portion thereof (including the Rents (as defined in the Mortgage) or other income to be derived therefrom) is subject to forfeiture or to being frozen, seized, sequestered or otherwise impaired by a Governmental Authority, or (iii) the Loan or any payments made or to be made in respect thereof (including principal and interest) is subject to forfeiture or to being frozen, seized, sequestered or otherwise impaired by a Governmental Authority or (iv) Lender or any of its collateral for the Loan or the Lien priority thereof or Lender’s rights or remedies in respect of the Loan or the collateral therefor is otherwise impaired or adversely affected, or (v) Lender, its affiliates and its or their respective directors, officers, employees, attorneys, agents, advisors, participants, successors and assigns is subject to criminal or civil liability or penalty as a result of o...

Examples of Leasing Reserve in a sentence

• Lender shall not be required to disburse Leasing Reserve Funds more frequently than once each calendar month nor in an amount less than the Minimum Disbursement Amount (or a lesser amount if the total amount of Leasing Reserve Funds is less than the Minimum Disbursement Amount, in which case only one disbursement of the amount remaining in the account shall be made).

• In addition, Borrower shall deposit with Lender into the Leasing Reserve Account (i) on each Scheduled Payment Date, the applicable TI/LC Monthly Deposit and (ii) any sum or termination fee payable to Borrower in connection with any early termination of a Lease at the Property (the “Termination Fee Deposit”) on the date of Borrower’s receipt thereof.

• This Mortgage and the other Loan Documents shall not be construed as creating any rights, claims or causes of action against Lender or any of its officers, directors, agents or employees in favor of any party other than Borrower including but not limited to any claims to any sums held in the Replacement Reserve or the TI and Leasing Reserve.

• Lender shall cause funds in the Leasing Reserve and the Replacement Reserve (referred to in this Section 1.30 as the “Interest-Bearing Reserve”) to be deposited into an interest bearing account of the type customarily maintained by Lender or its servicing agent for the investment of similar reserves, which account may not yield the highest interest rate then available.

• All earnings or interest on the Leasing Reserve Fund shall be and become part of such Leasing Reserve Fund and shall be disbursed as provided in this Section 7.5.

• Lender shall make disbursements from the Leasing Reserve Fund for tenant improvement and leasing commission obligations incurred by Borrower in connection with the re-leasing of the space demised under the related Lease.

• Leasing Costs with respect to any Qualified Replacement Lease shall be disbursed first out of the related Early Termination Reserve, if applicable, prior to using any funds in the Leasing Reserve with respect thereto.

• All Lease Termination Payments shall be deposited in the Leasing Reserve Account with and held by Lender for tenant improvement and leasing commission obligations incurred in connection with the re-leasing of the space demised under the related Lease.

• Lender shall not be required to disburse Leasing Reserve Funds more frequently than twice each calendar month nor in an amount less than the Minimum Disbursement Amount (or a lesser amount if the total amount of Leasing Reserve Funds is less than the Minimum Disbursement Amount, in which case only one disbursement of the amount remaining in the account shall be made).

• Notwithstanding anything contained herein to the contrary, during a Trigger Period, no Leasing Reserve Funds shall be disbursed to Manager for any “Leasing Commissions” (as defined in the Management Agreement) or other similar fees incurred by Manager (as opposed to another third party broker) pursuant to the Management Agreement.

More Definitions of Leasing Reserve

Leasing Reserve means the Gateway Leasing Reserve and the CCW Leasing Reserve, as applicable to the reserved funds in

Leasing Reserve has the meaning ascribed to such term in SECTION 2.13.1.

Leasing Reserve shall have the meaning set forth in Section 4.28 hereof.