|
|
 | | | |
- close
- close
- close
- close
| |||||||||
This excerpt taken from the MPG 10-Q filed Nov 10, 2008. Deposits to Capital Improvements
Reserve Fund. On the Closing Date, Borrower shall deposit
$4,076.08 with Administrative Agent, which amount shall be deposited by
Administrative Agent in the Capital Improvements Reserve Account. In
addition, on each Payment Date, Borrower shall pay to Administrative Agent, for
deposit in the Capital Improvements Reserve Account, an amount equal to
one-twelfth of the amount estimated by Administrative Agent on the Closing Date
(which amount is, on the Closing Date, equal to $0.25 per rentable square foot
attributable to the Commercial Component) and thereafter estimated on each
anniversary date of the Closing Date to be required for capital improvements and
capital repairs required to be made to the Commercial Component at the Project
during the following calendar year (collectively, the “ |
| |||||||
