Reserve Funds definition

Reserve Funds means, collectively, the Tax and Insurance Escrow Fund, the Replacement Reserve Fund, the Required Repair Fund, the Initial Renovation Reserve Fund, the Interest Reserve Fund, the General Reserve Fund, any funds on deposit in the Construction Loan Reserve Account, any Shortfall Funds and any other escrow fund established pursuant to the Loan Documents.

Reserve Funds. With respect to any Mortgage Loan, any amounts delivered by the related Mortgagor to be held in escrow by or on behalf of the mortgagee representing reserves for environmental remediation, repairs, capital improvements, tenant improvements and/or leasing commissions with respect to the related Mortgaged Property.

Reserve Funds as defined in the Mortgage Loan Agreement.

Examples of Reserve Funds in a sentence

• Until expended or applied in accordance herewith, the Reserve Funds shall constitute additional security for the Debt.

• The Reserve Funds shall not constitute trust funds and may be commingled with other monies held by Lender.

• Borrower shall be responsible for payment of any federal, state or local income or other tax applicable to the interest earned on the Reserve Funds credited or paid to Borrower.

• Unless applicable law requires, Lender will not be required to pay Borrower any interest, earnings or profits on the Reserve Funds.

• To secure Borrower’s obligations under this Loan Agreement and to further secure Borrower’s obligations under the Note and the other Loan Documents, Borrower conveys, pledges, transfers and grants to Lender a security interest pursuant to the Uniform Commercial Code of the Property Jurisdiction or any other applicable law in and to all money in the Reserve Funds, as the same may increase or decrease from time to time, all interest and dividends thereon and all proceeds thereof.

More Definitions of Reserve Funds

Reserve Funds means an amount set aside by the body corporate to meet the unexpected costs that may arise in future, including future cost of maintenance;

Reserve Funds means the Tax and Insurance Escrow Fund, the Replacement Reserve Fund, the Required Repair Fund (if any), or any other escrow fund established by the Loan Documents.

Reserve Funds means, collectively, all funds deposited by Borrower with Lender or Collection Account Bank pursuant to Article 6, including, but not limited to, the Capital Expenditure Funds, the Insurance Funds, the Tax Funds, the HOA Funds, the Casualty and Condemnation Funds, the Cash Collateral Funds, the Special Insurance Reserve Funds and the Eligibility Funds.

Reserve Funds means, collectively, the Tax and Insurance Escrow Fund, the FF&E Reserve Fund, any funds in any of the Reserve Accounts and in any other escrow fund or account established pursuant to the Loan Documents.

Reserve Funds. With respect to any Mortgage Loan or Serviced Loan Combination, any amounts delivered by the related Borrower to be held in escrow by or on behalf of the mortgagee representing: (i) reserves for repairs, replacements, capital improvements and/or environmental testing and remediation with respect to the related Mortgaged Property, for ongoing or threatened litigation or, with respect to any residential cooperative Mortgaged Property, for any unit maintenance or rent receivables or negative carry; (ii) reserves for tenant improvements and leasing commissions; (iii) reserves for debt service; or (iv) amounts to be applied as a Principal Prepayment on such Mortgage Loan or Serviced Loan Combination or held as Additional Collateral if certain leasing or other economic criteria in respect of the related Mortgaged Property are not met.

Reserve Funds means, collectively, the Tax and Insurance Escrow Funds, the Operating Expense Reserve Funds, the FF&E Reserve Funds, the Excess Cash Flow and any other escrow or reserve fund established pursuant to the Loan Documents.

Reserve Funds means, collectively, the Capital Expenditure Funds, the Insurance Funds, the Required Repair Funds, if any, the Tax Funds and the Borrower Cash Collateral Funds.