Rate Cap Reserve Deposit definition

Rate Cap Reserve Deposit means a monthly amount payable by Borrower sufficient to accumulate funds in an amount equal to 110%125% of the amount estimated by Lender to be sufficient to purchase, immediately prior to termination of the then-existing Cap Agreement, a Replacement Cap Agreement (i) expiring on the earlier of the date that is two years after the termination date of the then-existing Cap Agreement or the Maturity Date, (ii) having a Notional Amount equal to the outstanding principal balance due under the Note on the commencement date of the Replacement Cap Agreement, and (iii) having a Strike Rate equal to the Original Strike Rate.
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Rate Cap Reserve Deposit means a monthly amount payable by Borrower sufficient to accumulate funds in an amount equal to 125% of the amount estimated by Lender to be sufficient to purchase, immediately prior to the one-year anniversary of the Closing Date, a Replacement Cap Agreement (i) expiring on the earlier of the date that is two years after the termination date of the then-existing Cap Agreement or the Maturity Date, (ii) having a Notional Amount equal to the outstanding principal balance due under the Note on the commencement date of the Replacement Cap Agreement, (iii) having a Strike Rate not greater than the Original Strike Rate, and (iv) using the SOFR Rate (or such other variable rate index, together with any applicable adjustment factor, as Lender may designate) as the Rate Cap Index Rate; for the avoidance of doubt, if the initial Cap Agreement is replaced or amended in accordance with Section 3.04(e), then from and after such replacement or amendment, “Rate Cap Reserve Deposit” will have the meaning set forth in paragraph E of this Rider;
Sample 1
Rate Cap Reserve Deposit means a monthly amount payable by Borrower sufficient to accumulate funds in an amount equal to 125% of the amount estimated by Lender to be sufficient to purchase, immediately prior to termination of the then-existing Cap Agreement (including the initial Cap Agreement), a Replacement Cap Agreement: (i) expiring on the earlier of the date that is two years after the termination date of the then-existing Cap Agreement or the Maturity Date, (ii) having a Notional Amount equal to the principal balance due under the Note on the commencement date of the Replacement Cap Agreement, and (iii) having a Strike Rate not greater than the Original Strike Rate.
Sample 1

Examples of Rate Cap Reserve Deposit in a sentence

  • Lender will provide Notice to Borrower of any revised Rate Cap Reserve Deposit.

  • Ifthe insured savings association’s filing with the OTS under section 18(m)(1) of the FDI Act contains all of theinformation required, that filing may be submitted to the FDIC in satisfaction of this provision.(3) Additional information.

  • Borrower has established the Rate Cap Agreement Reserve Fund as of the date of this Loan Agreement by making the Initial Rate Cap Reserve Deposit.

  • Commencing on the date the first installment of principal and/or interest is due under the Note and continuing on the same day for each successive month until the purchase of the last Replacement Cap Agreement, Borrower must pay to Lender an amount equal to the Rate Cap Reserve Deposit.

  • Lender will provide Notice to Borrower of any revised Rate Cap Reserve Deposit amount.

  • Lender will recompute the amount of the Rate Cap Reserve Deposit every __ months [COMPLETE AS REQUIRED BY THE COMMITMENT/APPLICATION – TYPICALLY 6 MONTHS] based on the anticipated outstanding principal balance due under the Note immediately prior to termination of the then-existing Cap Agreement.

  • Commencing on the date the first installment of principal and/or interest is due under the Project Note and continuing on the same day for each successive month until the purchase of the last required Replacement Cap Agreement, Borrower must pay to Funding Lender an amount equal to the Rate Cap Reserve Deposit.

  • Th e non-m erged firms act as price takers, producing where marginal cost e quals the price set by the me rged firms.

  • Funding Lender will recompute the amount of the Rate Cap Reserve Deposit every __ months [COMPLETE AS REQUIRED BY THE COMMITMENT] based on the anticipated outstanding principal balance due under the Project Note immediately prior to termination of the then-existing Cap Agreement.

  • In the event Borrower is required to purchase the initial Rate Cap Agreement, commencing on the Installment Due Date immediately following the effective date of the initial Rate Cap Agreement and continuing on each Installment Due Date thereafter until the purchase of the last required Replacement Rate Cap Agreement, Borrower must pay to Lender an amount equal to the Rate Cap Reserve Deposit.


More Definitions of Rate Cap Reserve Deposit

Rate Cap Reserve Deposit means a monthly amount payable by Borrower sufficient to accumulate funds in an amount equal to 125% of the amount estimated by Lender to be sufficient to purchase, immediately prior to termination of the then-existing Cap Agreement, a Replacement Cap Agreement (i) expiring on the Maturity Date, (ii) having a Notional Amount equal to the outstanding Indebtedness on the commencement date of the Replacement Cap Agreement, and (iii) having a Strike Rate not greater than the Original Strike Rate. Rider to Multifamily Loan and Security Agreement Rate Cap Agreement and Rate Cap Agreement Reserve Fund Page 3
Sample 1
Rate Cap Reserve Deposit means a monthly amount payable by Borrower sufficient to accumulate funds in an amount equal to 125% of the amount estimated by Lender to be sufficient to purchase, immediately prior to termination of the then-existing Rate Cap Agreement, a Replacement Rate Cap Agreement (i) expiring on the earlier of the date that is two years after the termination date of the then-existing Rate Cap Agreement or the Maturity Date, (ii) having a Notional Amount equal to the outstanding principal balance due under the Note on the commencement date of the Replacement Rate Cap Agreement, and (iii) having a Strike Rate equal to the Maximum Strike Rate. For the purpose of calculating the Rate Cap Reserve Deposit, Lender or Loan Servicer will apply the Maximum Strike Rate for a Replacement Rate Cap Agreement expiring on the date described in clause (i) above.
Sample 1
Rate Cap Reserve Deposit means a monthly amount payable by Borrower sufficient to accumulate funds in an amount equal to 125110% of the amount estimated by Lender to be sufficient to purchase, immediately prior to termination of the then-existing Cap Agreement, a Replacement Cap Agreement, including any related broker and attorney fees. Lender will compute (and recompute as provided in Section 4.07) the amount of the monthly Rate Cap Reserve Deposit for a Replacement Cap Agreement having (i) a term of the lesser of (a) two (2) years after its effective date, or (b) the maturity Rider to Multifamily Loan and Security Agreement Rate Cap Agreement and Rate Cap Agreement Reserve Fund Page 3 date of the Loan; (i) expiring on the Maturity Date, (ii) having a Notional Amount equal to the outstanding Indebtedness on the commencement date of the Replacement Cap Agreement, and (iii) having a Strike Rate not greater than the Original Strike Rate.
Sample 1
Rate Cap Reserve Deposit means a monthly amount payable by Borrower sufficient to accumulate funds in an amount equal to 125% of the amount estimated by Lender to be sufficient to purchase, immediately prior to termination of the then-existing Cap Agreement, a Replacement Cap Agreement (i) expiring on the earlier of the date that is two years after the termination date of the then-existing Cap Agreement or the Maturity Date, (ii) having a Notional Amount equal to the outstanding principal balance due under the Note on the commencement date of the Replacement Cap Agreement, and (iii) having a Strike Rate not greater than the Original Strike Rate. INCLUDE THE FOLLOWING DEFINITION FOR ANY SOFR LOAN WITH AN INITIAL LIBOR CAP; OTHERWISE DELETE “SOFR Rate” is defined in the Note. END OF ADDITIONAL DEFINITION FOR SOFR LOAN WITH AN INITIAL LIBOR CAP “Strike Rate” means a fixed rate of interest under the Cap Agreement. Rider to Multifamily Loan and Security Agreement
Sample 1
Rate Cap Reserve Deposit means a monthly amount payable by Borrower sufficient to accumulate funds in an amount equal to 125% of the amount estimated by Lender to be sufficient to purchase, immediately prior to termination of the then-existing Cap Agreement, a Replacement Cap Agreement (i) expiring on the Maturity Date, (ii) having a Notional Amount equal to the outstanding Indebtedness on the commencement date of the Replacement Cap Agreement, and (iii) having a Strike Rate not greater than the Original Strike Rate.
Sample 1

Related to Rate Cap Reserve Deposit

  • Interest Reserve Amount has the meaning set forth in Section 5.1(d).

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

  • Interest Reserve Account As defined in Section 3.4(d).

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • 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.

  • 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.

  • 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.

  • 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 [*];

  • 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.

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

  • 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.

  • Available Reserve Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Reserve Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Reserve Account made or to be made with respect to such date) and (b) the Required Reserve Account Amount, in each case on such Transfer Date.

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

  • Required Reserve Fund Deposit 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 Aggregate 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 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 Offered Certificates, the Class B1 Certificates and the Class B2 Certificates has been reduced to zero, the Required Reserve Fund Deposit shall be zero.

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

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

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • Targeted Accumulation Reserve Subaccount Deposit means, with respect to any Distribution Date during the Accumulation Reserve Funding Period, an amount equal to (i) [0.5]% of the Outstanding Dollar Principal Amount of the Class A( - ) Notes as of the close of business on the last day of the related Due Period or (ii) any other amount designated by the Calculation Agent on behalf of the Issuer.]

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

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

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2019-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • Class C Reserve Account Percentage means, (i) zero, if the Quarterly Excess Available Funds Percentage on such Transfer Date is greater than or equal to 4.50%, (ii) 1.25%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 4.50% and greater than or equal to 4.00%, (iii) 2.00%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 4.00% and greater than or equal to 3.50%, (iv) 2.75%, if the Quarterly Excess Available Funds Percentage is less than 3.50% and greater than or equal to 3.00%, (v) 3.50%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 3.00% and greater than or equal to 2.50%, (vi) 4.50%, if the Quarterly Excess Available Funds Percentage is less than 2.50% and greater than or equal to 2.00%, and (vii) 6.00%, if the Quarterly Excess Available Funds Percentage on such Transfer Date is less than 2.00%.

  • Reserve Fund Required Amount means, (i) for any Payment Date on which the Note Balance is greater than $0, $2,128,635.19 (i.e., 0.25% of the Cutoff Date Adjusted Pool Balance) or (ii) if the Notes have been paid in full, $0; provided, however, that the Reserve Fund Required Amount may not exceed the Note Balance.