Common use of Defeasance Deposit Clause in Contracts

Defeasance Deposit. If a Fannie Mae Investment Security will ------------------ be the Substitute Collateral, then, on or before 3:00 p.m., Washington, D.C. time, on the Defeasance Closing Date, Borrower shall pay the Defeasance Deposit (reduced by the Defeasance Commitment Fee) to Lender to be used by Lender to purchase the Fannie Mae Investment Security as Borrower's agent.

Defeasance Deposit. If a Fannie Mae Investment Security will ------------------ be the Substitute Collateral▇▇▇▇▇t▇▇▇l, then, on or before 3:00 p.m., Washington, D.C. time, on the Defeasance Closing Date, the Borrower shall pay the Defeasance Deposit (reduced by the Defeasance Commitment Fee) to Lender to be used by Lender to purchase the Fannie Mae Investment Security as the Borrower's agentagen▇.