Repair Escrow Account definition

Repair Escrow Account as defined in Section 4.1.11.
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Repair Escrow Account has the meaning set forth in Section 7 hereof.
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Repair Escrow Account has the meaning set forth in Section 7 hereof. (vv) "Replacement Agreement" means that certain Replacement Reserve Agreement dated as of the date hereof between Borrower and Lender. (ww) "Replacement Reserve Account" has the meaning set forth in Section 7 hereof. (xx) "Securities" has the meaning set forth in Section 21 hereof. (yy) "Servicer" means the servicer of the Loan designated by Lender, in its sole and absolute discretion, from time to time. (zz) "Subordinate Loan" has the meaning set forth in Section 65 hereof. (aaa) "Tax and Insurance Escrow Account" has the meaning set forth in Section 7 hereof. (bbb) "Tax and Insurance Escrow Fund" has the meaning set forth in Section 6 hereof. (ccc) "Taxes" has the meaning set forth in Section 5 hereof. (ddd) "Uniform Commercial Code" means the Uniform Commercial Code, as adopted and enacted by the State or States where any of the Mortgaged Property is located. Capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Note.
Sample 1

Examples of Repair Escrow Account in a sentence

  • The Lender, at its option, may issue joint checks, payable to the Borrower and the supplier, materialman, mechanic, contractor, subcontractor or other party to whom payment is due in connection with any such periodic payment for an Immediate Repair, Replacement or Additional Repair or Replacement to be paid from the Repair Escrow Account or Replacement Reserve Account, as the case may be.

  • Lender shall disburse to Borrower all unapplied funds remaining in the Immediate Repair Escrow Account upon receipt of evidence satisfactory to Lender that (i) Borrower has completed, in the manner required by this Loan Agreement, all Reserve Items to be funded by such Reserve Account, and (ii) no Liens exist against the Property with respect to such Reserve Items.

  • In connection with each disbursement from the Repair Escrow Account or the Replacement Reserve Account, as the case may be, the Lender may require the Borrower to provide the Lender with an endorsement to the Lender's title insurance policy showing that no Liens have been placed against the Premises since the date of recordation of the Security Instrument (other than Permitted Encumbrances and any other Liens previously approved in writing by the Lender, if any).

  • The Repair Escrow Account, the Tax and Insurance Reserve Account, the Replacement Reserve Account, and all other reserve and/or escrow accounts established or required pursuant to the provisions of the Loan Documents, including, without limitation, pursuant to the Program Rider.

  • Amounts in the Immediate Repair Escrow Account are to be used for the purpose of funding the Immediate Repairs, which Borrower covenants and agrees to perform in accordance with the terms of this Loan Agreement on or before the dates specified on Exhibit C but not later than twelve (12) months from the date hereof.

  • Applicant must be employed by the District for fifteen (15) years.

  • Within ten (10) days after such notice from Lender, Borrower shall deliver the deficiency amount to Lender, and Lender shall deposit in the Immediate Repair Escrow Account and hold and administer same in accordance with this Loan Agreement subject, however, to the terms set forth in Section 4.01(h) above.

  • The Repair Escrow Account, the Tax and Insurance Reserve Account, the Replacement Reserve Account, the Debt Service Reserve Account, and all other reserve and/or escrow accounts established or required pursuant to the provisions of the Loan Documents, including, without limitation, pursuant to the Program Rider.

  • The Replacement Reserve Account, the Tax and Insurance Reserve Account, the Debt Service Reserve Account and any Immediate Repair Escrow Account (each such term as defined in the Loan Agreement) maintained by the Lender are fully funded as required by the Loan Agreement, and no Debt Service Sweep Event (as defined in the Loan Agreement) has occurred during the term of the Loan Agreement.

  • Lender shall make disbursements from the Immediate Repair Escrow Account upon Borrower’s performance, to Lender’s satisfaction, of all conditions to disbursement set forth in Article 5 of this Loan Agreement.

Related to Repair Escrow Account

  • Escrow Account The Eligible Account or Accounts established and maintained pursuant to Section 3.09(b).

  • Indemnity Escrow Account means the escrow account established by the Escrow Agent pursuant to the terms of the Escrow Agreement for purposes of holding the Indemnity Escrow Amount.

  • Adjustment Escrow Account means the escrow account established by the Escrow Agent pursuant to the Escrow Agreement for purposes of holding the Adjustment Escrow Amount and any interest or earnings accrued thereon or in respect thereof.

  • Required Repair Account shall have the meaning set forth in Section 7.1.1 hereof.

  • Escrow Accounts means (1) accounts of Parent or any Subsidiary, solely to the extent any such accounts hold funds set aside by Parent or any Subsidiary to manage the collection and payment of amounts collected, withheld or incurred by Parent or such Subsidiary for the benefit of third parties relating to: (a) federal income tax withholding and backup withholding tax, employment taxes, transportation excise taxes and security related charges, (b) any and all state and local income tax withholding, employment taxes and related charges and fees and similar taxes, charges and fees, including, but not limited to, state and local payroll withholding taxes, unemployment and supplemental unemployment taxes, disability taxes, xxxxxxx’x or workers’ compensation charges and related charges and fees, (c) state and local taxes imposed on overall gross receipts, sales and use taxes, fuel excise taxes and hotel occupancy taxes, (d) passenger facility fees and charges collected on behalf of and owed to various administrators, institutions, authorities, agencies and entities, (e) other similar federal, state or local taxes, charges and fees (including without limitation any amount required to be withheld or collected under applicable law) and (f) other funds held in trust for, or otherwise pledged to or segregated for the benefit of, an identified beneficiary; or (2) accounts, capitalized interest accounts, debt service reserve accounts, escrow accounts and other similar accounts of Parent or any Subsidiary or funds established in connection with the ARB Indebtedness.

  • Required Repair Fund shall have the meaning set forth in Section 7.1.1 hereof.

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

  • Reserve Account Initial Deposit means cash or Eligible Investments having a value of at least $____________.

  • Escrow Deposit has the meaning set forth in Section 2.1.

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

  • Reserve Account Property shall have the meaning specified in Section 4.7(a) of the Sale and Servicing Agreement.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

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

  • Repair facility Means any licensed automotive REPAIR FACILITY capable of performing repair services to a COVERED PART, approved by the ADMINISTRATOR, and at which YOU seek to acquire service under this CONTRACT.

  • Reserve Account Deposit Cash or Eligible Investments having a value of at least $2,635,875.59.

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

  • Reserve Fund Initial Deposit means the initial deposit of cash in the amount of $3,846,153.85 made by or on behalf of the Seller into the Reserve Fund on the Closing Date.

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

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

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

  • Seller Account shall have the meaning set forth in the preamble of this Agreement.

  • Adjustment Escrow Funds means, at any time, the portion of the Adjustment Escrow Amount then remaining in the Adjustment Escrow Account.

  • Spread Account Initial Deposit means an amount equal to 3% of the aggregate principal balance of the Receivables on the Closing Date (which is equal to $26,373,696.22).

  • Tax and Insurance Escrow Fund shall have the meaning set forth in Section 7.2 hereof.

  • Casualty Amount means five hundred thousand Dollars (USD500,000) (or the equivalent in any other currency);