Master Lease Variable Additional Rent definition

Master Lease Variable Additional Rent shall have the meaning set forth in the Loan Agreement (Mortgage).
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Master Lease Variable Additional Rent means with respect to any month, payments payable by the Master Lessee under the Master Lease of Variable Additional Charges (as defined in the Master Lease) but excluding any such items expressly included in any other sub-account of the Holding Account, such as the Monthly Tax Reserve Amount, Monthly Insurance Reserve Amount and Monthly Ground Rent Reserve Amount. Subject to the Master Lease, Master Lease Variable Additional Rent shall be presumptively established pursuant to the Annual Budget.
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Master Lease Variable Additional Rent means the “Variable Additional Charges” as defined under the Master Lease.
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Examples of Master Lease Variable Additional Rent in a sentence

  • During the continuance of any Low LCR Cash Sweep Period or Event of Default, Lender shall pay or direct the Cash Management Bank to pay from the Master Lease Variable Additional Rent Reserve Account, monthly payments of Master Lease Variable Additional Rent directly to the Person having the right to receive such funds on the respective due dates therefor and shall promptly notify Borrower and Master Lessee of any such payment.

  • In the event that no Low LCR Cash Sweep Period or Event of Default is then continuing, Lender shall direct the Cash Management Bank to transfer the funds in the Master Lease Variable Additional Rent Reserve Account to Borrower (or, if directed by Borrower, to Master Lessee).

  • Provided no Event of Default has occurred and is then continuing hereunder, Lender shall instruct the Cash Management Bank to transfer to Borrower’s Account, free and clear of all Liens, any amounts remaining in the Master Lease Variable Additional Rent Reserve Account within ten (10) Business Days following the termination of a Low LCR Cash Sweep Period.

  • From and after the occurrence and continuation of an Event of Default, Lender shall have the right to apply any amounts then remaining in the Master Lease Variable Additional Rent Reserve Account to repay the Indebtedness or any other amounts due hereunder or under the other Loan Documents in such order, manner and amount as Lender shall determine in its sole discretion.

  • In the event that no 80% Cash Sweep Period, 60% Cash Sweep Period or Master Lease Tenant Default is then continuing, Lender shall direct the Cash Management Bank to transfer the unapplied portion, if any, of the funds in the Master Lease Variable Additional Rent Reserve Account to the Master Lessee in accordance with the terms of the Master Lease.

  • Lender shall pay all Master Lease Variable Additional Rent directly to the Person having the right to receive such funds on or prior to the respective due dates therefore, and shall promptly notify Borrower of such payments in accordance with the terms of Section 3.1.6.