Operating Expense Reserve Account definition

Operating Expense Reserve Account shall have the meaning set forth in Section 5.3(a) hereof.
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Operating Expense Reserve Account shall have the meaning set forth in Section 9.8 hereof.
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Operating Expense Reserve Account shall have the meaning set forth in Section 9.9 hereof.
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Examples of Operating Expense Reserve Account in a sentence

  • The Corporation may withdraw funds from the Operating Expense Reserve Account to pay for any operating expense not otherwise paid from the operation expense account.

  • Amounts deposited in the Operating Expense Reserve Account pursuant to this Section 5.3 are referred to herein as the “Operating Expense Reserve Fund”.

  • Amounts on deposit in the CIGNA Property Operating Expense Reserve Account are referred to as the “CIGNA Property Operating Expense Reserve Funds”.

  • Lender shall disburse funds on deposit in the Operating Expense Reserve Account in accordance with the provisions of Section 7.9 hereof.

  • Amounts so deposited shall hereinafter be referred to as the “Operating Expense Reserve Funds.” Provided no Event of Default has occurred and is continuing, sums from the Operating Expense Reserve Account shall be disbursed by Lender to Borrower following written request for the payment of such Operating Expenses in accordance with the Approved Annual Budget.

  • Notwithstanding the foregoing, Lender shall cause all amounts held in the Operating Expense Reserve Account, including interest, to be released to Borrower within ten (10) Business Days of the termination of the Trigger Period.

  • Without limiting the foregoing, Borrower may request funds from the CIGNA Property Operating Expense Reserve Account for CIGNA Property FF&E Replacements, but only if all of the conditions set forth in this Section 9.9 and Section 9.6 are fully satisfied, and only if sufficient amounts are not on deposit in the CIGNA Property FF&E Replacement Reserve or the CIGNA Property Capital Replacements Reserve for the payment of the costs of such CIGNA Property FF&E Replacements.

  • Borrower and Lender acknowledge and agree that Borrower has deposited with Senior Lender on the Closing Date, the sum of $3,500,000.00 in the Interest and Operating Expense Reserve Account, to be held and applied to the payment of Monthly Debt Service Payments hereunder and “Monthly Debt Service Payments” (as defined in the Senior Loan Agreement) under the Senior Loan Agreement and as otherwise set forth in the Senior Loan Agreement pursuant to the terms and provisions thereof.

  • On the Closing Date for a Series of Notes, the Issuer shall deposit into the Operating Expense Reserve Account the amount specified in the Cash Management Agreement or the related Series Indenture Supplement.

  • The Operating Expense Reserve Account will not be funded at closing.


More Definitions of Operating Expense Reserve Account

Operating Expense Reserve Account means the Reserve Account designated to reserve funds for the payment of Operating Expenses with respect to the IP Address Assets.
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Operating Expense Reserve Account shall have the meaning set forth in the Indenture.
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Operating Expense Reserve Account is defined in Section 9.9 hereof.
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Operating Expense Reserve Account means the segregated trust account established for the benefit of the Holders and the Class A Note Insurer and established in accordance with Section 12.04, which account shall constitute part of the Collateral.
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Related to Operating Expense Reserve Account

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

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

  • 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 Account as defined in the Depositary Agreement.

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

  • 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.

  • Excess Liquidation Proceeds Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.

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

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

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

  • 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.

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 2.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

  • Available Reserve Account Amount means, with respect to any Distribution Date, the lesser of (a) the amount on deposit in the Reserve Account on such date (before giving effect to any deposit to be made to the Reserve Account on such date) and (b) the Required Reserve Account Amount.

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

  • 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 Account Excess Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the amount of cash or other immediately available funds in the Reserve Account (excluding any net investment earnings) on that Payment Date, after giving effect to all deposits to and withdrawals from the Reserve Account on such Payment Date, over (b) the Specified Reserve Account Balance with respect to such Payment Date.

  • 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.

  • Carryover Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.05(g) in the name of the Trustee for the benefit of the Holders of the Offered Certificates and designated "The Bank of New York in trust for registered holders of CWALT, Inc., Alternative Loan Trust 2006-OC10, Mortgage Pass-Through Certificates, Series 2006-OC10." Funds in the Carryover Reserve Fund shall be held in trust for the Holders of the Offered Certificates for the uses and purposes set forth in this Agreement.

  • Initial Reserve Account Deposit Amount means an amount equal to $1,030,941.16.

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

  • Capital Reserve Fund means the reserve fund created and established by the Authority in

  • 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.

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