Examples of Repair Reserve Deposit in a sentence
Lender and Borrower acknowledge that Borrower has established the Repair Reserve Fund by depositing the Repair Reserve Deposit with Lender on the date of this Loan Agreement, and that Borrower must complete the Repairs required pursuant to Section 6.14.
Borrower may except from the certificate described in the preceding sentence any claim(s) that Borrower intends to contest, provided that any such claim is described in Borrower’s certificate and Borrower certifies to Lender that the money in the Repair Reserve Fund from the applicable Repair Reserve Deposit is sufficient to make payment of the full amount which might in any event be payable in order to satisfy such claim(s).
Borrower may except from the certificate described in the preceding sentence any claim(s) that Borrower intends to contest, provided that any such claim is described in Borrower’s certificate and Borrower certifies to Funding Lender that the money in the Repair Reserve Fund from the applicable Repair Reserve Deposit is sufficient to make payment of the full amount which might in any event be payable in order to satisfy such claim(s).
Funding Lender will place the Radon Repair Reserve Deposit in the Repair Reserve Fund to be disbursed in accordance with the terms of Section 4.03(b).
Remaining Reserve Funds Deposit Type Amount Deposited into Replacement Reserve Fund Returned to Borrower ☐ Repair Reserve Deposit $________________ ☐ ☐ ☐ Radon Remediation Deposit $________________ ☐ ☐ ☐ Green Repair Reserve Deposit $________________ ☐ ☐ ☐ Other: [describe] $________________ ☐ ☐ Disbursement requests under Section 4.03(g) are limited to once every __ days and a minimum aggregate amount of $_________ during such period (“Repair Disbursement Timing and Amount Limitations”).