Loan Reserve definition

Loan Reserve means a reserve account (which may be interest bearing or non-interest bearing) established with Lender at a financial institution selected by Lender (subject to Borrower’s approval, not to be unreasonably withheld, conditioned or delayed), which financial institution must meet the Rating Criteria, in which Lender holds a perfected security interest for the benefit of Lender, and into which all (i) Equity Deposits, (ii) Set Aside Funds, and (iii) all force funding amounts funded pursuant to Section 3.22 will be deposited.

Loan Reserve means the following amounts during the following periods: DATE LOAN RESERVE AMOUNT ---- ------------------- CLOSING DATE to 6/29/96; and 3/31 to 6/29 of each year thereafter during the term of the CREDIT FACILITY, provided the BORROWER has made all required payments under the SUBORDINATED DEBT when and as due $ 0.00 The contrary notwithstanding, if at any time the BORROWER has not made all required payments under the SUBORDINATED DEBT when and as due, the LOAN RESERVE shall be the amount equal to the SUBORDINATED DEBT PAYMENT until such payments are made.

Loan Reserve shall have the meaning specified in Section 3.2 hereof.

Examples of Loan Reserve in a sentence

• In the event that the amounts allocated under the Building Loan and/or the Project Loan to the performance of the MTA Work [***] have not been disbursed to Borrower on or prior to April 22, 2023, Lender shall be permitted in its sole and absolute discretion, to deposit the balance of such amounts allocated under the Building Loan to the completion of the MTA Work into the Loan Reserve, with all disbursements thereof being subject to the conditions to Disbursements set forth in this Agreement.

• The Set Aside Funds shall, in Lender’s sole discretion, either be held in the Loan Reserve (and not be eligible to be used for Disbursements to Borrower), and shall be under the sole dominion and control of Lender.

• Upon the satisfaction by Borrower of all work and other governmental requirements that are secured by the Set Aside Funds, as long as no Event of Default exists, the Set Aside Funds shall be released by Lender from the Loan Reserve and disbursed by Lender from the Loan Reserve in accordance with the terms of this Agreement.

More Definitions of Loan Reserve

Loan Reserve means the $700,000 reserve established on the Closing Date with respect to the Borrowing Base which reserve shall remain in effect, in the Permitted Discretion of Lender, until the Obligations are repaid in full.“Lockbox Accounts” shall mean the accounts maintained by Borrower at the Lockbox Banks into which all collections or payments on their Accounts and other Collateral are paid.

Loan Reserve shall have the meaning set forth in the Existing Deed of Trust. "New Borrower" shall have the meaning and shall conform to the requirements contained in the GECAM Agreement. (b) The definition of "Existing Lender" is hereby amended to read in its entirety as follows: "Existing Lender" means CBA Conduit, Inc., and its successors and assigns. SECTION 2.

Loan Reserve set forth in Section 1.1 of the Existing Loan Agreement is hereby amended by adding the language "Year 2000 Reserve" after the language "In-Transit Reserve,".