Monthly Ground Rent Deposit definition

Monthly Ground Rent Deposit shall have the meaning set forth in Section 7.4 hereof.
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Monthly Ground Rent Deposit means, with respect to the specified period, an amount equal to one-twelfth (1/12) of the Ground Rents that Lender determines will be payable during the next ensuing twelve (12) months under the Ground Lease.
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Monthly Ground Rent Deposit. As such term is defined in Section 10.4.
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Examples of Monthly Ground Rent Deposit in a sentence

  • The Monthly Ground Rent Deposit may be increased by Lender by such amount Lender deems is necessary in its reasonable discretion based on any increases in the Ground Rent due under the Ground Lease.

  • Notwithstanding the foregoing, in lieu of depositing the Monthly Ground Rent Deposit, Borrower shall have the option of delivering to Lender a Letter of Credit equal to the annual Ground Rent due under each of the Ground Lease, the Miami Lease and the Miramar Parcel Lease, as calculated each year during the term of the Loan.

  • In the event an Individual Property subject to a Ground Lease is released from the Lien of its related Security Instrument in accordance with Section 2.5 hereof, (a) any amount held in the Ground Lease Escrow Fund and allocated for such Individual Property shall be returned to Borrower and (b) the Monthly Ground Rent Deposit shall be reduced by the monthly deposit allocated for such Individual Property.

  • In the event an Individual Property subject to a Ground Lease is released from the Lien of its related Security Instrument in accordance with Section 2.5 hereof, (a) any amount held in the Ground Rent Account and allocated for such Individual Property shall be returned to Borrower and (b) the Monthly Ground Rent Deposit shall be reduced by the monthly deposit allocated for such Individual Property.

  • Commencing with the next Payment Due Date following such notice from Lender, Borrower shall make deposits at the increased amount of the Monthly Ground Rent Deposit.

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  • Notwithstanding the foregoing, so long as the Monthly Ground Rent Deposit is duly deposited in accordance with the Mortgage Loan Documents and no Event of Default shall have occurred and be continuing, Borrower shall be deemed to have satisfied the then-current obligations of clause (i) above.

  • Beginning on the first Payment Due Date and on each Payment Due Date thereafter, Borrower shall deliver to Lender the Monthly Ground Rent Deposit.

  • Notwithstanding the foregoing, in lieu of depositing the Monthly Ground Rent Deposit, Borrower shall have the option of delivering to Lender a Letter of Credit equal to the annual Ground Rent due under each Ground Lease, as calculated each year during the term of the Loan.

  • In addition to infringing on privacy and the right to association, these regulations violate the right to family.

Related to Monthly Ground Rent Deposit

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Initial Monthly Payment Fund An amount representing scheduled principal amortization and interest at the Net Mortgage Rate for the Due Date in the first Due Period commencing subsequent to the Cut-off Date for those Mortgage Loans for which the Trustee will not be entitled to receive such payment, and as more specifically defined in the Series Supplement.

  • Percentage Rent As defined in Subsection 3.1(b).

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Seller Remittance Amount With respect to each Servicer, the meaning assigned to such term in the related Servicing Agreement.

  • Master Servicer Remittance Amount With respect to each Master Servicer Remittance Date, an amount equal to (a) all amounts on deposit in the Collection Account (including any amount in any Serviced A/B Loan Combination Custodial Account allocable to the related Serviced Mortgage Loan in the related Serviced A/B Loan Combination) as of 11:00 a.m., New York City time, on such Master Servicer Remittance Date, net of (b) any portion of the amounts described in clause (a) of this definition that represents one or more of the following: (i) collected Monthly Payments with respect to any Mortgage Loan that are due on a Due Date following the end of the related Collection Period, (ii) to the extent not covered by clause (i) above, any payments of principal (including Principal Prepayments) and interest, Insurance Proceeds, Condemnation Proceeds and Liquidation Proceeds Received by the Trust with respect to any Mortgage Loan or REO Property after the end of the related Collection Period, (iii) any Prepayment Premiums and/or Yield Maintenance Charges Received by the Trust with respect to any Mortgage Loan or successor REO Mortgage Loan with respect thereto after the end of the related Collection Period, (iv) any Excess Liquidation Proceeds, (v) any amounts payable or reimbursable to any Person from the Collection Account pursuant to clauses (ii) through (xxii) of Section 3.05(a)(I), and (vi) any amounts deposited in the Collection Account in error; provided that the Master Servicer Remittance Amount for the Master Servicer Remittance Date that occurs in the same calendar month as the anticipated Final Distribution Date shall be calculated without regard to clauses (b)(i), (b)(ii), (b)(iii) and (b)(iv) of this definition.

  • Monthly Charges means a finance carrying charge of one and one-half of one percent (1.5%) and a storage and handling charge of one-half of one percent (0.5%), in each case of the Cost of the Inventory and/or Special Inventory and/or of the fees for the Product affected by the reschedule or cancellation (as applicable) per month until such Inventory and/or Special Inventory and/or Product is returned to the vendor, used to manufacture Product or is otherwise purchased by Customer.

  • Initial Reserve Account Deposit means $3,000,000.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Initial Reserve Account Deposit Amount means an amount equal to $1,554,404.20.

  • Monthly Payment Amount means, with respect to each Payment Date, a payment equal to the amount of interest which has accrued during the related Interest Accrual Period, computed at the Interest Rate.

  • Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.

  • Basic Rent Payment Date means the Delivery Date, and the numerically corresponding day in each calendar month thereafter during the Term, and if such day is not a Business Day, then the immediately preceding calendar day which is a Business Day.

  • Sublease Payment means any payment required to be made by the District pursuant to Article 7 of the Sublease.

  • Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.

  • Excess Rent means the excess of (a) all consideration received by Tenant from a Transfer over (b) Rent payable under this Lease after deducting reasonable tenant improvements paid for by Tenant, reasonable attorneys’ fees and any other reasonable out-of-pocket costs paid by Tenant as a result of the Transfer (but specifically excluding any Rent paid to Landlord while the Premises is vacant).

  • Lease Payment Date means, with respect to any Interest Payment Date, the 5th Business Day immediately preceding such Interest Payment Date.

  • Applicable Monthly Payment For any Mortgage Loan (including an Outside Serviced Mortgage Loan) with respect to any month (including any such Mortgage Loan as to which the related Mortgaged Property has become an REO Property), the Monthly Payment; provided, however, that for purposes of calculating the amount of any P&I Advance required to be made by the Master Servicer or the Trustee, notwithstanding the amount of such Applicable Monthly Payment, interest shall be calculated at the Mortgage Rate less the Servicing Fee Rate and, if applicable, shall be exclusive of Excess Interest; and provided, further, that for purposes of determining the amount of any P&I Advance, the Monthly Payment shall be as reduced pursuant to any modification of a Mortgage Loan pursuant to Section 3.24 of this Agreement or pursuant to the applicable Outside Servicing Agreement, or pursuant to any bankruptcy, insolvency, or other similar proceeding involving the related Mortgagor.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,653,198.45.

  • Monthly Servicing Fee shall have the meaning specified in subsection 3.01.

  • Servicer Remittance Date With respect to any Distribution Date, the 18th day of the calendar month in which such Distribution Date occurs or, if such 18th day is not a Business Day, the Business Day immediately following.

  • Monthly Payment Date means the Payment Date (as defined in the Mortgage Loan Documents).

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

  • Master Servicer Remittance Date With respect to any Distribution Date, the Business Day immediately preceding such Distribution Date.

  • Monthly Payment The scheduled monthly payment of principal and interest on a Mortgage Loan.