Tax and Insurance Reserve definition

Tax and Insurance Reserve has the meaning given to such term in Section 3.2(b)(ii) of this Agreement.

Tax and Insurance Reserve has the meaning assigned in Section 5.8(1).

Tax and Insurance Reserve means the reserve account Seller has established in its own name pursuant to the Four Seasons Documents for the payment of real estate and personal property taxes and assessments against the Property and insurance premiums for policies maintained with respect to the Property. 6 “Title Commitment” shall mean Commitment NCS-704534-CHI2 with respect to the Property issued by the Title Company dated November 26, 2014, as the same may be updated from time to time. “Title Company” shall mean Heritage Title Company of Austin, Inc., in its capacity as escrow agent, whose mailing address is 000 Xxxxxxxx Xxxxxx, Xxxxx 0000, Xxxxxx, Xxxxx 00000, Attention: Attention: Xxxxxx Xxxxxxxx (telephone number: (000) 000-0000, e‑mail address: xxxxxxxxx@xxxxxxxx-xxxxx.xxx). “TMLA” shall mean that certain Trademark License Agreement dated November 17, 1994 between Manager and Seller. “Transaction” shall mean the transaction contemplated by this Agreement. “UDD” shall mean, collectively, that certain Unified Development Declaration for San Jacinto Center Town Lake, dated March 29, 1990 and recorded in Volume 11157 at Page 19, as amended and restated by that certain Amended and Restated Unified Development Declaration, dated September 23, 1991, recorded in Volume 11530 at Page 463, as (i) corrected by that certain Correction First Amendment to the Amended and Restated Unified Development Declaration, recorded in Volume 11767 at Page 14, (ii) further amended by that certain Second Amendment to Amended and Restated Unified Development Declaration, dated August 1, 1997 recorded in Volume 13060 at Page 1443, (iii) further amended by that certain Third Amendment to Amended and Restated Unified Development Declaration dated as of June 24, 2010 and recorded as document no. 2010090576, and (iv) assigned by instruments recorded in Volume 12316 at Page 1285, Volume 12594 at Page 1456, Volume 12595 at Page 1829, Volume 12838 at Page 278 and Document No. 2010094230, all as recorded in the Real Property Records of Xxxxxx County, Texas. “WARN Act” has the meaning specified in Section 8.3. ARTICLE 2

Examples of Tax and Insurance Reserve in a sentence

• While any Default or Event of Default is continuing, Lender may, but shall have no obligation to, make disbursements of Tax and Insurance Reserve Funds.

• In making any disbursement from the Tax and Insurance Reserve Account, Lender may do so according to any bill, statement or estimate procured from the appropriate public office or tax lien service (with respect to Real Property Taxes) or insurer or agent (with respect to Insurance Premiums), without inquiry into the accuracy of such bill, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof.

• Such sums shall be held by Lender in the Tax and Insurance Reserve Account.

• While any Default or Event of Default is continuing, Administrative Agent may, but shall have no obligation to, make disbursements of Tax and Insurance Reserve Funds (subject to the right of the Required Lenders to apply the Tax and Insurance Reserve Funds as the Required Lenders may elect in their sole discretion).

• Lender shall make payments of Impositions and insurance premiums out of the Tax and Insurance Reserve Account before the same shall be delinquent to the extent that there are funds available in the Tax and Insurance Reserve Account and Lender has received appropriate documentation to establish the amount(s) due and the due date(s) as and when provided above.

More Definitions of Tax and Insurance Reserve

Tax and Insurance Reserve means an accounting maintained by the Servicer for tracking a Mortgagor’s Escrow Payments and Insurance Proceeds.

Tax and Insurance Reserve has the meaning given to it in Section 4.3(e) hereof.

Tax and Insurance Reserve. As defined in Section 10.5.

Tax and Insurance Reserve means, with respect to a Mortgage Loan, the amounts constituting ground rents, taxes, assessments, water rates, sewer rents, municipal charges, mortgage insurance premiums, fire and hazard insurance premiums, flood insurance premiums, and other payments escrowed by the Borrower with the Lender pursuant to the terms of the related Mortgage Loan documents.

Tax and Insurance Reserve. As defined in Section 6.5 hereof.

Tax and Insurance Reserve has the meaning set forth in Section 8.2(a) hereof.

Tax and Insurance Reserve means the reserve account Seller has established in its own name pursuant to the Four Seasons Documents for the payment of real estate and personal property taxes and assessments against the Property and insurance premiums for policies maintained with respect to the Property.