Revised Monthly Deposit definition

Revised Monthly Deposit means the adjusted amount per month that Lender determines Borrower must deposit in the Replacement Reserve Fund following any adjustment determination by Lender pursuant to Section 4.04(c). The following changes are made to the Loan Agreement which precedes this Rider:
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Examples of Revised Monthly Deposit in a sentence

  • If Lender or Loan Servicer does not provide Borrower with Notice of a Revised Monthly Deposit, Borrower will continue to pay the Monthly Deposit or the Revised Monthly Deposit then in effect.

  • Upon Notice from Lender or Loan Servicer, Borrower will begin paying the Revised Monthly Deposit on the first monthly payment date that is at least 30 days after the date of Lender’s or Loan Servicer’s Notice.

  • Notwithstanding Section 4.04(e) above, Lender reserves the right to require at any time, upon Notice to Borrower, that Borrower begin making the Monthly Deposit and/or the Revised Monthly Deposit, as applicable, upon the occurrence of a default under this Loan Agreement or any other Loan Document.

  • Commencing on the date that a Supplemental Loan is originated and continuing until all Supplemental Loans are paid in full, Borrower must pay the Monthly Deposit or the Revised Monthly Deposit, as applicable, to Lender for deposit into the Replacement Reserve Fund, together with its regular monthly payments of principal and interest as required by the Note.

  • In addition, if the Loan term is more than 120 months, Lender reserves the right to require that Borrower begin making the Monthly Deposit and/or the Revised Monthly Deposit, as applicable, beginning on the installment due date that is 120 months after the first installment due date under the Loan, or on any installment due date thereafter if Lender reasonably determines that the physical condition of the Mortgaged Property warrants that Borrower begin making such deposit.

  • Notwithstanding Sections 4.04 (a)-(d) above, Lender defers its right to require Borrower to make the Monthly Deposit and/or the Revised Monthly Deposit, as applicable.

  • Upon written notice from Lender or Loan Servicer, Borrower shall begin paying the Revised Monthly Deposit on the first monthly payment date of the Subsequent Review Period and shall continue paying the Revised Monthly Deposit until Lender further adjusts the Replacement Reserve Deposit during a Subsequent Review Period, if applicable.

  • If Lender does not provide Borrower with written notice of a Revised Monthly Deposit, Borrower shall continue to pay the Monthly Deposit or the Revised Monthly Deposit then in effect.

  • If Lender or Loan Servicer does not provide Borrower with written notice of a Revised Monthly Deposit, Borrower shall continue to pay the Monthly Deposit or the Revised Monthly Deposit then in effect.

  • If Funding Lender or Loan Servicer does not provide Borrower with Notice of a Revised Monthly Deposit, Borrower will continue to pay the Monthly Deposit or the Revised Monthly Deposit then in effect.