Tax Reserve Account definition

Tax Reserve Account shall have the meaning set forth in Section 3.1.1.

Tax Reserve Account shall have the meaning as set forth in Section 6.5.1(c).

Tax Reserve Account means account no. 00000000 established and maintained by the Paying Agent pursuant to Section 2.17 in the name of the Borrower Representative and entitled “Xxxxx Fargo Bank, N.A., as Paying Agent, in trust for the Borrowers - Tax Reserve Account # 00000000” 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.

Examples of Tax Reserve Account in a sentence

• Lender shall, or Lender shall direct the Cash Management Bank to, pay to the taxing authority such amounts to the extent funds in the Tax Reserve Account are sufficient to pay such Impositions.

• If the amount of funds in the Tax Reserve Account shall exceed the amounts due for Impositions and Other Charges pursuant to Article V and Article VII, Lender shall credit such excess against future payments to be made to the Tax Reserve Account.

• Upon payment of the Impositions and Other Charges, Lender shall reassess the amount necessary to be deposited in the Tax Reserve Account for the succeeding period, which calculation shall take into account any excess amounts remaining in the Tax Reserve Account.

• Subject to Borrower’s right of contest set forth in Section 7.3, as set forth in the next two sentences and provided that there are sufficient funds available in the Tax Reserve Account, Lender, on behalf of Borrower, shall pay all Impositions and Other Charges which are attributable to or affect the Property or Borrower, prior to the date such Impositions or Other Charges shall become delinquent or late charges may be imposed thereon, directly to the applicable taxing authority with respect thereto.

• Any earnings (and losses) on investments of funds in a Tax Reserve Account shall be credited (or debited) to such Tax Reserve Account.

More Definitions of Tax Reserve Account

Tax Reserve Account means any segregated non-interest bearing account established pursuant to Section 10.3(h).

Tax Reserve Account shall have the meaning set forth in Section 8.1 hereof.

Tax Reserve Account. Defined in Section 7.4(f)(i).

Tax Reserve Account shall have the meaning provided in Section 6.1.

Tax Reserve Account means the account of that name to be opened and maintained pursuant to clause 10 of the Intercreditor Agreement;

Tax Reserve Account. The Securities Account established and maintained by the Paying Agent in the name of the Borrower Representative and entitled “JPMorgan Chase Bank, National Association, as Paying Agent, in trust for the Borrowers — Tax Reserve Account # 689690961” or such other account established at the Paying Agent (or any successor) as may be designated in writing from time to time by the Agent, and at all times subject to an Account Control Agreement.

Tax Reserve Account. The Tax Reserve Account established and maintained pursuant to Section 3.26.