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

Examples of Tax and Insurance Reserve in a sentence

• If at any time Lender reasonably determines that the Tax and Insurance Reserve Funds are not or will not be sufficient to pay Taxes and Insurance Premiums by the dates set forth in (a) and (b) above, Lender shall notify Borrower of such determination and Borrower shall pay to Lender any amount necessary to make up the deficiency within ten (10) days after notice from Lender to Borrower requesting payment thereof.

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

• Lender will apply the Tax and Insurance Reserve Funds to payments of Taxes and Insurance Premiums required to be made by Borrower pursuant to Section 5.4 and Section 8.1 hereof.

• If the amount of the Tax and Insurance Reserve Funds shall exceed the amounts due for Taxes and Insurance Premiums pursuant to Section 5.4 and Section 8.1 hereof, Lender shall, in its sole discretion, return any excess to Borrower or credit such excess against future payments to be made to the Tax and Insurance Reserve Account.

• Any amount remaining in the Tax and Insurance Reserve Account after the Debt has been paid in full shall be returned to Borrower or the person shown on Lender’s records as being the owner of the Property and no other party shall have any right or claim thereto.

More Definitions of Tax and Insurance Reserve

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

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 shall have the meaning set forth in the Loan Agreement.

Tax and Insurance Reserve. As defined in Section 6.5 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. 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

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.