200507874 - Laserfiche WebLink

Browse

200507874 "Recurring Replacement Reserve Monthly Installment" shall mean the amount per month set forth on Exhibit B attached hereto and made a part hereof. Notwithstanding the foregoing, provided that no Trigger Event has occurred and is continuing and that a sum equal to not less than the Initial Recurring Replacement Reserve Deposit is on deposit in the Recurring Replacement Reserve Sub - Account, the Recurring Replacement Reserve Monthly Installment shall be $0. "Recurrinjz Replacement Reserve Sub - Account" shall mean the Sub - Account of the Central Account established pursuant to Section 5.02 hereof and maintained pursuant to Section 5.08 hereof relating to the payment of Recurring Replacement Expenditures. "Release" shall mean a release of this Security Instrument in recordable form with respect to the Property. "Release Price" shall mean an amount equal to the sum of (i) one hundred percent (100 %) of the Allocated Loan Amount, plus (ii) twenty-five percent (25 %) of the Initial Allocated Loan Amount. "Rent Account" shall mean an Eligible Account, maintained at the Rent Account Bank, in the joint names of Lessee and Lender or its successors or assigns (as secured party) as may be designated by Lender. "Rent Account Bank" shall mean the bank in which the Rent Account is located. "Rents" shall have the meaning set forth in granting clause (f) of this Security Instrument. "Rent Roll" shall have the meaning set forth in Section 2.05 (o) hereof. "Required Debt Service shall mean a Debt Service Coverage of not less than 1.10 :1. "Required Debt Service Payment" shall mean, as of any Payment Date, the amount of interest and principal then due and payable pursuant to the Note, together with any other sums due thereunder, including, without limitation, any prepayments required to be made or for which notice has been given under this Security Instrument, Default Rate Interest and premium, if any, paid in accordance therewith. "Required Engineering Work" shall have the meaning set forth in Section 5.02 hereof. "Retention Amount" shall have the meaning set forth in Section 3.04(b)(vii) hereof. "Scheduled Defeasance Pavments" shall mean: (a) with respect to a defeasance of the Loan in whole, payments on or prior to, but as close as possible to (i) each scheduled Payment Date, after the date of defeasance and through and including the Maturity Date, upon which interest payments or interest and Principal Payments are required under the Loan Documents and in amounts equal to the scheduled payments due on such dates under the Loan Documents and (ii) the Maturity Date, of the Principal Amount and any accrued and unpaid interest thereon; or (b) with respect to any defeasance of the Loan in part, payments on or prior to, but as close as possible to, (i) each scheduled Payment Date after the date of defeasance through and including the Maturity Date, of a proportionate share (based on the percentage of outstanding principal prior to the defeasance represented by the amount of principal defeased) of the monthly installments of principal and interest due on such dates under the Loan Documents and (ii) the Maturity Date, of the unpaid portion of the portion of the Principal Amount so defeased and any accrued and unpaid interest thereon. "Securities Act" shall mean the Securities Act of 1933, as the same shall be amended from time to time. W