Lockbox Event Period definition

Lockbox Event Period. As defined in the Loan Agreement.
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Lockbox Event Period means each period commencing on the occurrence of a Lockbox Event and continuing until the earlier of (a) the date on which the Lockbox Event Cure is effectuated, or (b) payment in full of all principal and interest on the Loan and all other amounts then due and payable under the Loan Documents in accordance with the terms and provisions of the Loan Documents.
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Lockbox Event Period shall have the meaning set forth in Section 2.6.1(c).
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Examples of Lockbox Event Period in a sentence

  • During a Lockbox Event Period, Borrower shall deposit with or on behalf of Lender, on each Payment Date, an amount equal to the Ground Rent that will be payable under the Ground Lease for the month in which such Payment Date occurs, which amounts shall be transferred into an account to hold such funds (the “Ground Rent Account”).

  • During a Lockbox Event Period, Borrower shall deposit with Lender on each Payment Date an amount equal to $10,688.00 (the “Capital Improvement Reserve Monthly Deposit”) to be used for improvements, replacements and/or repairs to be made to the Property including, without limitation, repairs to, and replacements of, the structural components, roofs, building systems and parking lots, in each case whether or not required to be capitalized under GAAP (collectively, the “Capital Improvements”).

  • Lender shall make disbursements from the Leasing Reserve Fund for tenant improvement and leasing commission obligations owing during the Lockbox Event Period by Borrower.

  • During a Lockbox Event Period, Borrower shall deposit with Lender on each subsequent Payment Date the sum of $82,746.00 (the “Leasing Reserve Monthly Deposit”), which amounts shall be deposited with and held by Lender for tenant improvement, tenant allowance or similar payments and leasing commission obligations owing during the Lockbox Event Period.