Mezzanine Debt Service Account definition

Mezzanine Debt Service Account. As defined in the Mortgage Loan Agreement
Sample 1Sample 2Sample 3
Mezzanine Debt Service Account shall have the meaning set forth in Section 9.1(b) hereof.
Sample 1Sample 2
Mezzanine Debt Service Account shall have the meaning ascribed to such term in the Mezzanine Loan Documents.
Sample 1Sample 2

Examples of Mezzanine Debt Service Account in a sentence

  • Disbursements from the Mezzanine Debt Service Account will be made in accordance with the terms and conditions of the Mezzanine Cash Management Agreement.

  • Any cost and expenses due and payable to Lender may be paid from any amounts in the Mezzanine Debt Service Account.

  • Borrower shall not in any way alter or modify the Mezzanine Debt Service Account or the Mezzanine Cash Management Agreement without the prior written consent of Lender.

  • Prior to the occurrence and continuance of an Event of Default, funds on deposit in the Mezzanine Debt Service Account, if any, shall be used to pay Mezzanine Debt Service when due.

  • The Counterparty shall be directed to deposit directly in the Mezzanine Debt Service Account all amounts payable by the Counterparty under the Interest Rate Cap Agreement; provided, however, in the event that Borrower shall receive any amounts payable by the Counterparty under the Interest Rate Cap Agreement, Borrower shall deposit same within two (2) Business Days into the Mezzanine Debt Service Account.

  • Borrower hereby grants to Lender a first priority security interest in the Mezzanine Debt Service Account and all deposits at any time contained therein and the proceeds thereof and will take all actions necessary to maintain in favor of Lender a perfected first priority security interest in the Mezzanine Debt Service Account, including, without limitation, executing and filing UCC-1 Financing Statements and continuations thereof.

  • Borrower will not in any way alter or modify the Mezzanine Debt Service Account and will notify Lender of the account number thereof.

  • The Junior Mezzanine Debt Service Account shall be entitled “WHP Junior Mezz Borrower-1, L.L.C., as Borrower, for the benefit of Bear Xxxxxxx Commercial Mortgage, Inc., as Lender, pursuant to Junior Mezzanine Loan Agreement dated as of December 5, 2002 – Junior Mezzanine Debt Service Account”.

  • Borrower shall irrevocably direct or cause Mortgage Borrower to direct that all cash distributions from the Cash Management Account to be paid by Mortgage Borrower to Mezzanine Lender in accordance with the Cash Management Agreement (including the Net Liquidation Proceeds After Debt Service) be deposited into the Mezzanine Debt Service Account maintained in accordance with the Mezzanine Cash Management Agreement.

  • All amounts paid by the Acceptable Counterparty under the Interest Rate Cap Agreement to Borrower or Lender shall be deposited immediately into the Junior Mezzanine Debt Service Account.


More Definitions of Mezzanine Debt Service Account

Mezzanine Debt Service Account means a Mezzanine A Debt Service Account or a Mezzanine B Debt Service Account.
Sample 1Sample 2
Mezzanine Debt Service Account means, individually and collectively, as the context may require, the Senior Mezzanine Debt Service Account and the Junior Mezzanine Debt Service Account.
Sample 1Sample 2
Mezzanine Debt Service Account as defined in Section 2.1(b).
Sample 1
Mezzanine Debt Service Account as defined in the Mezzanine Cash Collateral Agreement.
Sample 1

Related to Mezzanine Debt Service Account

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • Debt Service Reserve Account as defined in the Depositary Agreement.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Debt Service Reserve means the reserve for payment of principal and interest on the Bonds, created and established by Sections 502 and 506 of the General Trust Indenture.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

  • Debt Service Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Interest Reserve Account means that Interest Reserve Account maintained by the Master Servicer pursuant to Section 5.1(a), which account shall be an Eligible Account.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • 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 [*];

  • Debt Service Reserve Fund Requirement means, with respect to the 2013 Series C Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2013 Series C Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Reserve Accounts means the Tax and Insurance Reserve Account, the Leasing Reserve Account or any other escrow account established by the Loan Documents.

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

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank, National Trust Company in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2006-HE3, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2006-HE3." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • 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.

  • Note Account As defined in the Indenture.

  • Reserve Funds means, collectively, the Tax and Insurance Escrow Fund, the Replacement Reserve Fund, the Required Repair Fund, the Initial Renovation Reserve Fund, the Interest Reserve Fund, the General Reserve Fund, any funds on deposit in the Construction Loan Reserve Account, any Shortfall Funds and any other escrow fund established pursuant to the Loan Documents.

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the May 2023 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the November 2023 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.

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

  • Debt Service Reduction Mortgage Loan Any Mortgage Loan that became the subject of a Debt Service Reduction.

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

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Revenue Account means the Revenue Account established pursuant to the General Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

  • Debt Service means, with respect to any particular period of time, the scheduled principal and interest payments due under this Agreement and the Note.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

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