TI Reserve Clause Samples

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TI Reserve. (a) As additional security for the Loan, on the date hereof Borrower has established, and Borrower shall maintain at all times while any portion of the Loan remains outstanding, a TI Costs reserve (the "TI Reserve") with Lender for payment of TI Costs in the amount of One Million One Hundred Seventy-Five Thousand and 00/100 Dollars ($1,175,000.00), which amount shall be reduced proportionately with reductions in the Indebtedness upon the transfer or Release of a Property in accordance with the terms of the this Agreement and the other Loan Documents. Borrower hereby agrees to pay all TI Costs with respect to each Property (without regard to the amount of money then available in the TI Reserve). So long as no Event of Default hereunder or under the other Loan Documents has occurred and is continuing, all sums in the TI Reserve shall be held by Lender to pay TI Costs. Provided that (i) Lender has received written notice from Borrower requesting funds from the TI Reserve at least ten (10) Business Days prior to the due date of any requested disbursement relating to TI Costs, or if Borrower makes timely payment therefor, not more than forty-five (45) days after Borrower has made such payment, (ii) no Event of Default has occurred and is continuing, (iii) Borrower furnishes Lender with a written disbursement request for the payment or reimbursement of such TI Costs, not more frequently than once every ninety (90) day period, (iv) there are sufficient funds available in the TI Reserve with respect to Borrower's disbursement request, (v) Borrower shall have theretofore complied with the requirements of the Mortgages relative to (1) new leases, licenses and/or occupancy agreements with respect to the Properties and (2) the performance of improvements and alterations to the Properties, (vi) Borrower shall have theretofore furnished Lender with reasonably satisfactory evidence of the progress and/or completion of tenant improvement work, the cost of tenant improvement work, reasonably satisfactory evidence that any and all completed tenant improvement work complies with law, lien waivers for lienable work, copies of bills, invoices and other reasonable documentation as may be required by Lender to substantiate the use of such funds and establish that the TI Costs that are the subject of such disbursement request represent completed or partially completed tenant improvement work performed at all or any portion of the Property, and (vii) Borrower has replenished the T...
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TI Reserve. At the time of the Disbursement, funds in an amount equal to Fifty Thousand and No/100 Dollars ($50,000.00) (the "TI Reserve") shall be held back and not funded by Lender. Such TI Reserve funds shall be disbursed by Lender to pay real estate taxes due and payable on account of the Property (collectively, "Taxes") and/or current premiums or other charges for insurance required to be maintained pursuant to the terms of this Agreement and the other Loan Documents (collectively "Insurance Costs"), provided there exists no Event of Default or Potential Event of Default; and further provided that Lender has received from Borrower a copy of the applicable ▇▇▇▇ for the Taxes and/or the invoice for the Insurance Costs and written request to disburse funds on account thereof not less than thirty (30) days prior to the date the applicable payment is due. Such disbursements for Taxes and Insurance Costs shall be made, subject to the terms and conditions of this Section 9.13, only to the extent there are sufficient funds in the TI Reserve to pay amounts due. If at any time an Event of Default or Potential Event of Default exists, then Lender shall not have any obligation to pay any Taxes or Insurance Costs out of the TI Reserve (or otherwise) and Borrower shall be obligated hereunder to pay such amounts as and when due. In no event shall Lender be obligated to fund from the TI Reserve (or otherwise) any late charges or fees on account of Borrower's failure to timely deliver to Lender any bills for Taxes or invoices for Insurance Costs. In addition, such TI Reserve funds may, in Lender's sole and absolute discretion, be disbursed by Lender as specified in Section 11.
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TI Reserve. 23 6.4. Loans/Additional Contributions. . . . . . . . . . . . . . . . . 24 6.5.
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TI Reserve 
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Related to TI Reserve

  • Interest Reserve 8.3.1 On the date hereof, Borrower shall deposit with Lender the sum set forth on Exhibit K hereto as the Interest Reserve to be held in an account maintained at a bank designated by Lender and pledged to Lender as additional collateral for the Loan (the "Interest Reserve Account"). The Interest Reserve Account shall be an interest-bearing account and all interest earned thereon shall become part of the Interest Reserve Account for the benefit of Borrower. 8.3.2 Provided that no Event of Default shall then exist and be continuing, if, on any Payment Date, the amount then on deposit in the Monthly Debt Service Subaccount (as defined in the Cash Management Agreement), minus the amount, if any, due under Section 8.7.3 hereof, shall be less than the amount of interest then due under the Note, Lender shall disburse the amount of such deficiency from the Interest Reserve Account to pay such interest. Any such amounts so disbursed shall be deemed paid by Borrower and Borrower shall not be deemed to have failed to pay such interest for the purposes of Section 6.1.1 by reason thereof. 8.3.3 If an Event of Default has occurred and is continuing hereunder, Lender may apply all amounts on deposit in the Interest Reserve Account to the Indebtedness in such order, priority and proportions as Lender in its discretion shall deem proper. 8.3.4 Nothing contained in this paragraph shall limit the obligation of Borrower to pay interest or other amounts due under the Note or any other Loan Document. The Interest Reserve Account shall not constitute a trust fund and may not be commingled with other monies held by Lender. Upon assignment of the Note and Mortgage by Lender in their entirety, Lender's security interest in, and all other right, title and interest of Lender in and to, the funds in the Interest Reserve Account shall be transferred and assigned to the assignee and Lender shall have no further obligation with respect thereto.

  • Stock Reserve The Company shall at all times during the term of this Option Agreement reserve and keep available such number of shares of Stock as will be sufficient to satisfy the requirements of this Option Agreement.

  • Interest Reserve Account The Certificate Administrator shall establish and maintain the Interest Reserve Account in the Certificate Administrator’s name, on behalf of the Trustee, for the benefit of the Certificateholders. The Interest Reserve Account shall be established and maintained as a non-interest bearing Eligible Account. On each Master Servicer Remittance Date occurring in January (except during a leap year) or February (commencing in 2018) (unless, in either such case, the related Distribution Date is the final Distribution Date), the Master Servicer shall remit to the Certificate Administrator for deposit into the Interest Reserve Account, in respect of all the Mortgage Loans that accrue interest on the basis of a 360-day year and the actual number of days in the related month, an amount equal to one day’s interest at the related Net Mortgage Rate on the Stated Principal Balance of each such Mortgage Loan as of the close of business on the Distribution Date in the month preceding the month in which such Master Servicer Remittance Date occurs, to the extent a Monthly Payment or P&I Advance is made in respect thereof (all amounts so deposited in any consecutive January (if applicable) and February, “Withheld Amounts”). On or prior to the Master Servicer Remittance Date in March (or February if the final Distribution Date occurs in such month) of each calendar year (commencing in 2018), the Certificate Administrator shall transfer to the Lower-Tier REMIC Distribution Account the aggregate of all Withheld Amounts on deposit in the Interest Reserve Account.

  • Required Reserve Amount So long as this Warrant remains outstanding, the Company shall at all times keep reserved for issuance under this Warrant a number of shares of Common Stock at least equal to 100% of the maximum number of shares of Common Stock as shall be necessary to satisfy the Company’s obligation to issue shares of Common Stock under the Warrants then outstanding (without regard to any limitations on exercise) (the “Required Reserve Amount”); provided that at no time shall the number of shares of Common Stock reserved pursuant to this Section 1(g) be reduced other than in connection with any exercise of Warrants or such other event covered by Section 2(c) below. The Required Reserve Amount (including, without limitation, each increase in the number of shares so reserved) shall be allocated pro rata among the holders of the Warrants based on the number of shares of Common Stock issuable upon exercise of Warrants held by each holder thereof on the Issuance Date (without regard to any limitations on exercise) (the “Authorized Share Allocation”). In the event that a holder shall sell or otherwise transfer any of such holder’s Warrants, each transferee shall be allocated a pro rata portion of such holder’s Authorized Share Allocation. Any shares of Common Stock reserved and allocated to any Person which ceases to hold any Warrants shall be allocated to the remaining holders of Warrants, pro rata based on the number of shares of Common Stock issuable upon exercise of the Warrants then held by such holders thereof (without regard to any limitations on exercise).

  • Replacement Reserve Fund Borrower shall pay to Lender on the Closing Date and on each Payment Date one twelfth of the amount (the "REPLACEMENT RESERVE MONTHLY DEPOSIT") reasonably estimated by Lender in its sole discretion to be due for replacements and repairs required to be made to the Property during the calendar year (collectively, the "REPLACEMENTS"), which Replacement Reserve Monthly Deposit shall be in an amount equal to no less than $0.15 per year per square foot of gross leasable area. Amounts so deposited shall hereinafter be referred to as Borrower's "REPLACEMENT RESERVE FUND" and the account in which such amounts are held shall hereinafter be referred to as Borrower's "REPLACEMENT RESERVE ACCOUNT". Lender may reassess its estimate of the amount necessary for the Replacement Reserve Fund from time to time, and may increase the monthly amounts required to be deposited into the Replacement Reserve Fund upon thirty (30) days notice to Borrower if Lender determines in its reasonable discretion that an increase is necessary to maintain the proper maintenance and operation of the Property. Any amount held in the Replacement Reserve Account and allocated for the Property shall be retained by Lender in an interest bearing account, or, at the option of Lender, in an Eligible Account at an Eligible Institution; PROVIDED, HOWEVER, that, any interest earned on said account shall accrue in said account for the benefit of Borrower, but shall remain in and constitute part of the Replacement Reserve Fund, and shall be disbursed in accordance with the terms hereof. Notwithstanding anything to the contrary in this Section 7.3, Borrower shall not be required to make Replacement Reserve Monthly Deposits, provided that: (i) no Event of Default shall have occurred; and (ii) Borrower makes all necessary Replacements and otherwise maintains the Property to Lender's satisfaction. Upon notice from Lender following: (a) an Event of Default; or (b) the failure of Borrower to make necessary Replacements or otherwise maintain the Property to Lender's satisfaction, Borrower shall begin to deposit the Replacement Reserve Monthly Deposit into the Replacement Reserve Fund beginning on the Payment Date (as defined herein) immediately following the date of such notice.