Monthly Tax Deposit definition

Monthly Tax Deposit shall have the meaning set forth in Section 8.6 hereof.

Monthly Tax Deposit means, with respect to the specified period, an amount equal to one-twelfth (1/12) of the Taxes that Lender estimates will be payable during the next ensuing twelve (12) months, subject to adjustment as set forth in Section 4.02(d) of this Loan Agreement.

Monthly Tax Deposit shall have the meaning given to such term in SECTION 9.1.

Examples of Monthly Tax Deposit in a sentence

• If the amount due for Taxes shall increase and Lender reasonably determines that amounts on deposit in the Tax Escrow Account will not be sufficient to pay Taxes due for an annual tax period, Lender shall notify Borrower of such determination and of the increase needed to the Monthly Tax Deposit.

• Thereafter, beginning on the first Payment Due Date and on each Payment Due Date thereafter, Borrower shall deliver to Lender the Monthly Tax Deposit.

• Commencing with the Payment Due Date specified in such notice from Lender, Borrower shall make deposits at the increased amount of the Monthly Tax Deposit.

• If at any time any or all of the Tax Waiver Conditions Precedent are no longer met, the Borrower shall immediately begin and shall continue to make the Monthly Tax Deposit as provided herein, until such failure is remedied.

• If on any Monthly Tax Deposit Date the amount of Taxes to be levied, charged, assessed or imposed within the ensuing one (1) year period shall not be fixed, such amount for the purpose of computing the deposit to be made by Borrower hereunder, shall be reasonably estimated by Lender, with appropriate adjustment when the amount of such Taxes is fixed.

More Definitions of Monthly Tax Deposit

Monthly Tax Deposit means one-twelfth of the Taxes that Administrative Agent determines based on the Approved Annual Budget from time to time will be payable in order to accumulate with Administrative Agent sufficient funds to pay all such Taxes as and when due, together with such additional amount as may be specified by Administrative Agent in any given month to meet the Taxes due and payable that month.

Monthly Tax Deposit shall have the meaning set forth in Section 7.2.1(a) hereof. “Moody’s” shall mean Xxxxx’x Investors Service, Inc.

Monthly Tax Deposit has the meaning set forth in the Cash Management Agreement.

Monthly Tax Deposit means one hundred and five percent (105%) of one‑twelfth (1/12th) of the amount of the total annual Impositions applicable to the Property, provided that if the total annual Impositions have not yet been finally determined, then the Tax Deposit shall be based on Lender's good faith estimate of such total, plus, if requested by Lender, the amount of money which, together with the aggregate of the monthly deposits to be made as of one month prior to the date on which the next installment of Impositions becomes due, shall be sufficient to pay in full such installment, as determined by Lender.

Monthly Tax Deposit means the monthly deposit to the Escrow Fund as calculated by Lender pursuant to Section 3.5(a) of the Security Instrument to ensure the timely payment of Taxes.

Monthly Tax Deposit has the meaning assigned to such term in Section 9.2(2). “Moody’s” means Xxxxx’x Investors Service, Inc. “Mortgage” means, collectively, the mortgages which have been consolidated, modified and extended pursuant to the Consolidation Agreement, covering the Project, and any amendments, modifications, renewals, substitutions, consolidations, severances and 25

Monthly Tax Deposit shall have the meaning set forth in Section 7.2 hereof. “Moody’s” shall mean Xxxxx’x Investor Service, Inc. “Net Proceeds” shall mean: (i) the net amount of all insurance proceeds payable as a result of a Casualty to the Property, after deduction of reasonable costs and expenses (including, but not limited to, reasonable attorneys’ fees and costs), if any, in collecting such insurance proceeds, or (ii) the net amount of the Award, after deduction of reasonable costs and expenses (including, but not limited to, reasonable attorneys’ fees and costs), if any, in collecting such Award. “Net Proceeds Deficiency” shall have the meaning set forth in Section 5.4 hereof.