Monthly Deposit definition
Examples of Monthly Deposit in a sentence
Commencing on the date the first installment of principal and/or interest is due under the Note and continuing on the same day of each successive month until the Loan is paid in full, Borrower will pay the Monthly Deposit to Lender for deposit into the Replacement Reserve Fund, together with its regular monthly payments of principal and/or interest as required by the Note.
If Lender or Loan Servicer does not provide Borrower with Notice of a Revised Monthly Deposit, Borrower will continue to pay the Monthly Deposit or the Revised Monthly Deposit then in effect.
The following data reflects certain information with respect to amounts on deposit in the Payment Account as of the close of business on the Monthly Deposit Date to which this Monthly Noteholder Certificate relates.
Accrued Interest on Premium to Monthly Deposit Date Class A-1 Timber Notes $0.00 $0.00 Class A-2 Timber Notes $0.00 $0.00 Class A-3 Timber Notes $0.00 $0.00 7.
Upon notice from Lender following: (a) an Event of Default; or (b) the failure of Borrower to make necessary Replacements or otherwise maintain the Property to Lender's satisfaction, Borrower shall begin to deposit the Replacement Reserve Monthly Deposit into the Replacement Reserve Fund beginning on the Payment Date (as defined herein) immediately following the date of such notice.