Special Reserves Account definition

Special Reserves Account means account no. ▇▇▇▇▇▇▇▇ established and maintained by the Paying Agent pursuant to Section 2.17 in the name of the Borrower Representative and entitled “▇▇▇▇▇ Fargo Bank, N.A., as Paying Agent, in trust for the Borrowers – Special Reserves Account # ▇▇▇▇▇▇▇▇” or such other account established at the Paying Agent (or any successor) as may be designated in writing from time to time by the Administrative Agent.
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Special Reserves Account means the account of that name established pursuant to Section 3.1 of the Collateral Agency Agreement.
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Special Reserves Account means the account of that name established ------------------------ pursuant to Section 3.1. "Special Transfer Date" means each date on which Non-Shared Payments will --------------------- be distributed.
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Examples of Special Reserves Account in a sentence

  • In the event that a time period is not specified in respect of any instance in which the Borrowers shall be required to set aside Special Reserves pursuant to this Agreement, the failure to set aside such Special Reserve shall not constitute an Event of Default so long as the Borrowers deposit such Special Reserves into the Special Reserves Account within five (5) Business Days of the date on which such deposit is required to be made.

  • If such total shall have increased since the most recent such report delivered pursuant to this paragraph (b) (or, as applicable, since the date of the initial Property Loan hereunder with respect to a Non-Conforming Property), the Borrower shall on the date of such report make a deposit to the Special Reserves Account in an amount equal to such increase.

  • In the event that the Borrowers shall be required pursuant to this Agreement to set aside adequate reserves in connection with any potential liability by depositing such amounts into the Special Reserves Account (the “Special Reserves”), the Borrowers shall provide the Calculation Agent with written notice of any such Special Reserves, and simultaneously with such notice shall deposit such Special Reserves with the Paying Agent for transfer to the Special Reserves Account.

  • Amounts on deposit in the Special Reserves Account shall be made available to the Company to pay for Required Modifications, Programmatic Optional Modifications or to pay expenses not covered by any insurance deductibles pursuant to the Company's insurance policies upon certification by an Authorized Representative of the Company.

  • Application of Amounts in the Special Reserves Account and Special Insurance Reserves Account.........................................

  • Except as set forth on Schedule 4.02(n), there are no actions, suits or proceedings at law or in equity by or before any Governmental Authority or other entity now pending or, to any Loan Party’s actual knowledge, threatened in writing against or affecting the Property which actions, suits or proceedings are not covered by insurance unless adequate reserves reasonably satisfactory to the Administrative Agent shall have been deposited in the Special Reserves Account.


More Definitions of Special Reserves Account

Special Reserves Account means the account designated as such under Clause 18.1 (Designation of Accounts) and includes any replacement of that Account. Special Reserves Cap means £10,000,000.
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Special Reserves Account shall have the meaning assigned thereto in the Intercreditor Agreement.
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