Senior Mezzanine Debt Service Account definition

Senior Mezzanine Debt Service Account shall have the meaning ascribed to the term “Senior Mezzanine Debt Service Account” in the Senior Mezzanine Loan Agreement.
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Senior Mezzanine Debt Service Account means the Mezzanine A Debt Service Account.
Sample 1
Senior Mezzanine Debt Service Account means, collectively, Mezzanine A Debt Service Account and Mezzanine B Debt Service Account.
Sample 1

Examples of Senior Mezzanine Debt Service Account in a sentence

  • Lender and Servicer shall have the sole right to make withdrawals from the Senior Mezzanine Debt Service Account and all costs and expenses for establishing and maintaining the Senior Mezzanine Debt Service Account shall be paid by Borrower.

  • Borrower shall direct or cause Mortgage Borrower to direct that all cash distributions from the Cash Management Account to be paid to Lender in accordance with the Cash Management Agreement (including the Net Liquidation Proceeds After Debt Service) be deposited into the Senior Mezzanine Debt Service Account.

  • The Senior Mezzanine Debt Service Account shall be entitled “Centro NP New Garden Mezz 1, LLC and Centro NP Senior Mezz Holding, LLC as Mezzanine Borrower fbo JPMorgan Chase Bank, N.A., as Lender together with its successors and assigns, pursuant to Senior Mezzanine Loan Agreement dated as of July 28; 2010 — Senior Mezzanine Debt Service Account”.

  • Borrower will not cause or permit Mortgage Borrower to in any way alter or modify the Senior Mezzanine Debt Service Account without the prior written consent of Lender, and Borrower will notify Lender of the account number of the Senior Mezzanine Debt Service Account.

  • Other than in connection with the Loan Documents, Borrower has not sold, pledged, transferred or otherwise conveyed the Senior Mezzanine Debt Service Account.

  • Borrower hereby grants to Lender a first priority security interest in the Senior Mezzanine Debt Service Account and all deposits at any time contained therein and the proceeds thereof and will take all actions necessary to maintain in favor of Lender a perfected first priority security interest in the Senior Mezzanine Debt Service Account, including, without limitation, filing UCC-1 financing statements and continuations thereof upon Lender’s request therefor.

  • Disbursements from the Senior Mezzanine Debt Service Account will be made in accordance with the terms and conditions of the Cash Management Agreement and Section 2.7.3.

  • Junior Lenders each hereby acknowledge and agree that notwithstanding the terms of Section 4(i) of the Reserve Agreement to the contrary, at such times as the Senior Loan is paid in full and provided that the Senior Junior Loan is still outstanding, any and all amounts remaining in the Mortgage Debt Service Account shall be deposited into the Senior Mezzanine Debt Service Account.

  • Any cost and expenses due and payable to Lender may be paid from any amounts in the Senior Mezzanine Debt Service Account.

  • On each date on which Net Liquidation Proceeds After Debt Service are deposited into the Senior Mezzanine Debt Service Account in accordance with the foregoing, the same shall be applied by Lender to prepay the outstanding principal balance of the Loan in an amount equal to one hundred percent (100%) of such Net Liquidation Proceeds After Debt Service, together with interest that would have accrued on such amount through the next Payment Date.


More Definitions of Senior Mezzanine Debt Service Account

Senior Mezzanine Debt Service Account has the meaning set forth in the Reserve Agreement.
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Senior Mezzanine Debt Service Account shall have the meaning set forth in Section 2.7.3 hereof.
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Related to Senior Mezzanine Debt Service Account

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • 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.

  • Debt Service Reserve means the reserve for payment of principal and interest on the Bonds, created and established by Sections 502 and 506 of the General Trust Indenture.

  • Debt Service Fund means the fund so designated in, and created pursuant to, Section 502 hereof.

  • Debt Service means, with respect to any particular period of time, the scheduled principal and interest payments due under this Agreement and the Note.

  • Debt Service Reserve Fund Requirement means, with respect to the 2013 Series C Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2013 Series C Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Debt Service Reduction Mortgage Loan Any Mortgage Loan that became the subject of a Debt Service Reduction.

  • Monthly Debt Service Payment Amount means, for each Monthly Payment Date, an amount equal to the amount of interest which is then due on all the Components of the Loan in the aggregate for the Interest Period during which such Monthly Payment Date occurs.

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

  • Excess Reserve Fund Account The separate Eligible Account created and maintained by the Trustee pursuant to Sections 3.07(b) and 3.07(c) in the name of the Trustee for the benefit of the Regular Certificateholders and designated "Deutsche Bank, National Trust Company in trust for registered Holders of Morgan Stanley ABS Capital I Inc. Trust 2006-HE5, Mortgage Pass-Through Xxxxxfxxxxxx, Series 2006-HE5." Funds in the Excess Reserve Fund Account shall be held in trust for the Regular Certificateholders for the uses and purposes set forth in this Agreement. Amounts on deposit in the Excess Reserve Fund Account shall not be invested.

  • Annual Debt Service as of any date means the maximum amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries.

  • 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 [*];

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

  • 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.

  • Debt Service Charges means for any Measurement Period, the sum of (a) Consolidated Interest Charges paid or required to be paid for such Measurement Period, plus (b) principal payments made or required to be made on account of Indebtedness (excluding the Obligations and any Synthetic Lease Obligations but including, without limitation, Capital Lease Obligations) for such Measurement Period, in each case determined on a Consolidated basis in accordance with GAAP.

  • Annual Debt Service Charge as of any date means the amount which is expensed in any 12-month period for interest on Debt of the Company and its Subsidiaries.

  • 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.

  • Aggregate Debt Service means, with respect to any particular period of time, the sum of (a) the Debt Service, (b) the Mortgage Debt Service and (c) the Other Mezzanine Debt Service.

  • Note Account As defined in the Indenture.

  • Revenue Account means the Revenue Account established pursuant to the Resolution. “Revenues” means the Pledged Receipts and Recoveries of Principal.

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

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • 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.

  • Yield Supplement Account means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Collateral Monthly Principal means the monthly principal distributable in respect of the Collateral Interest as calculated in accordance with subsection 4.07(c).