Additional Franchisor Required Capital Replacements definition

Additional Franchisor Required Capital Replacements means, for any particular period, Capital Replacements at a CIGNA Mortgage Loan Property which are required by Franchisors and have been approved by Lender in its reasonable discretion (to the extent the applicable CIGNA Mortgage Loan Borrower has approval rights with respect thereto) but are not contemplated in the then approved Annual Budget for such CIGNA Mortgage Loan Property, the cost of which Lender reasonably determines will exceed amounts otherwise available (including amounts available to the Manager of a CIGNA Mortgage Loan Property for such purposes pursuant to the Management Agreement for such CIGNA Mortgage Loan Property) or projected to be available in the CIGNA Property Capital Replacement Reserve Account for Capital Replacements during such period.
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Additional Franchisor Required Capital Replacements means, for any particular period, Capital Replacements at an Individual Property which are required by Franchisors and have been approved by Lender in its reasonable discretion (to the extent the applicable Borrower has approval rights with respect thereto) but are not contemplated in the then approved Annual Budget, the cost of which Lender reasonably determines will exceed amounts otherwise available (including amounts available to the Manager of an Individual Property for such purposes pursuant to the Management Agreement for such Individual Property) or projected to be available in the Capital Replacement Reserve Account for Capital Replacements during such period.
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Examples of Additional Franchisor Required Capital Replacements in a sentence

  • Promptly following any written request from Lender, Borrower shall deliver to Lender written evidence reasonably acceptable to Lender regarding any Additional Franchisor Required Capital Replacements and the costs and expenses thereof, and any Additional Budgeted Capital Replacements, and the costs and expenses thereof.

  • The Capital Replacement Reserve Monthly Deposit, the Additional Budgeted Capital Replacement Monthly Deposit, any funds delivered to the Capital Replacement Reserve Account to pay the costs and expenses of any Additional Franchisor Required Capital Replacements, any Capital Replacement Reserve Reconciliation Deposits, and any other funds in the Capital Replacement Reserve Account, together with any interest accrued thereon, are referred to collectively herein as the “Capital Replacement Reserve Funds”.

  • Promptly following any written request from Lender, Borrower shall deliver to Lender written evidence reasonably acceptable to Lender regarding any Additional Franchisor Required Capital Replacements, and the costs and expenses thereof, and any Additional Budgeted Capital Replacements, and the costs and expenses thereof.

Related to Additional Franchisor Required Capital Replacements

  • Term SOFR Replacement Date has the meaning specified in Section 3.03(b).

  • Capital Replacement means the replacement of those items listed on Exhibit F.

  • Contractor-acquired property means property acquired, fabricated, or otherwise provided by the Contractor for performing a contract, and to which the Government has title.

  • Qualifying Replacement Capital Covenant has the meaning specified in the Replacement Capital Covenant.

  • SOFR Benchmark Replacement Date means the Benchmark Replacement Date with respect to the then-current Benchmark;

  • Approved Replacement means, with respect to a Market Quotation, an entity making such Market Quotation, which entity would satisfy conditions (a), (b), (c) and (d) of the definition of Permitted Transfer (as determined by Party B in its sole discretion, acting in a commercially reasonable manner) if such entity were a Transferee, as defined in the definition of Permitted Transfer.

  • Replacement Capital Covenant has the meaning specified in the introduction to this instrument.

  • Maintenance Capital Expenditure means cash expenditures (including expenditures for the construction of new capital assets or the replacement, improvement or expansion of existing capital assets) by a Group Member made to maintain, over the long term, the operating capacity or operating income of the Partnership Group. For purposes of this definition, “long term” generally refers to a period of not less than twelve months.

  • Erection, construction, remodeling, repairing means all types of work done on a particular building or work at the site thereof in the construction or development of the project, including without limitation, erecting, construction, remodeling, repairing, altering, painting, and decorating, the transporting of materials and supplies to or from the building or work done by the employees of the Contractor, Subcontractor, or Agent thereof, and the manufacturing or furnishing of

  • Replacement Reserve Agreement means a Replacement Reserve and Security Agreement, reasonably required by the Lender, and completed in accordance with the requirements of the DUS Guide.

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.

  • LIBOR Replacement Date has the meaning specified in Section 3.03(c).

  • Benchmark Replacement Date means the earliest to occur of the following events with respect to the then-current Benchmark:

  • Independent expenditure means an expenditure by a person:

  • Maintenance Capital Expenditures means cash expenditures (including expenditures for the addition or improvement to the capital assets owned by any Group Member or for the acquisition of existing, or the construction of new, capital assets) if such expenditures are made to maintain, including over the long term, the operating capacity or revenues of the Partnership Group.

  • Required Repairs shall have the meaning set forth in Section 7.1.1 hereof.

  • Environmental Compliance Reserve means any reserve which the Agent establishes in its reasonable discretion after prior written notice to the Borrower from time to time for amounts that are reasonably likely to be expended by the Borrower in order for the Borrower and its operations and property (a) to comply with any notice from a Governmental Authority asserting material non-compliance with Environmental Laws, or (b) to correct any such material non-compliance identified in a report delivered to the Agent and the Lenders pursuant to Section 7.7.

  • Expansion Capital Expenditures means cash expenditures for Acquisitions or Capital Improvements. Expansion Capital Expenditures shall include interest (including periodic net payments under related interest rate swap agreements) and related fees paid during the Construction Period on Construction Debt. Where cash expenditures are made in part for Expansion Capital Expenditures and in part for other purposes, the General Partner shall determine the allocation between the amounts paid for each.

  • Replacement Reserve As defined in Section 9.5.1.

  • Major renovation means the renovation of a building where:

  • Reference Interest Rate Replacement Conforming Changes means, with respect to any Reference Interest Rate Replacement, any technical, administrative or operational changes (including changes to the definition of "Interest Period", timing and frequency of determining rates and making payments of interest, changes to the definition of "Corresponding Tenor" solely when such tenor is longer than the Interest Period and other administrative matters) that the Issuer or its designee decides may be appropriate to reflect the adoption of such Reference Interest Rate Replacement in a manner substantially consistent with market practice (or, if the Issuer or its designee decides that adoption of any portion of such market practice is not administratively feasible or if the Issuer or its designee determines that no market practice for use of the Reference Interest Rate Replacement exists, in such other manner as the Issuer or its designee determines is reasonably necessary).

  • Stand Alone System Upgrade Facilities means System Upgrade Facilities that a Developer may construct without affecting day-to-day operations of the New York State Transmission System during their construction. NYISO, the Connecting Transmission Owner and the Developer must agree as to what constitutes Stand Alone System Upgrade Facilities and identify them in Appendix A to this Agreement.

  • Benchmark Replacement Adjustment means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement:

  • Casualty Retainage means an amount equal to ten percent (10%) of the costs actually incurred for work in place as part of the Restoration, as certified by the Casualty Consultant, until the Restoration has been completed. The Casualty Retainage shall in no event, and notwithstanding anything to the contrary set forth above in this Section 6.4(b), be less than the amount actually held back by Borrower from contractors, subcontractors and materialmen engaged in the Restoration. The Casualty Retainage shall not be released until the Casualty Consultant certifies to Lender that the Restoration has been completed in accordance with the provisions of this Section 6.4(b) and that all approvals necessary for the re-occupancy and use of the Property have been obtained from all appropriate governmental and quasi-governmental authorities, and Lender receives evidence satisfactory to Lender that the costs of the Restoration have been paid in full or will be paid in full out of the Casualty Retainage; provided, however, that Lender will release the portion of the Casualty Retainage being held with respect to any contractor, subcontractor or materialman engaged in the Restoration as of the date upon which the Casualty Consultant certifies to Lender that the contractor, subcontractor or materialman has satisfactorily completed all work and has supplied all materials in accordance with the provisions of the contractor’s, subcontractor’s or materialman’s contract, the contractor, subcontractor or materialman delivers the lien waivers and evidence of payment in full of all sums due to the contractor, subcontractor or materialman as may be reasonably requested by Lender or by the title company issuing the Title Insurance Policy, and Lender receives an endorsement to the Title Insurance Policy insuring the continued priority of the lien of the Mortgage and evidence of payment of any premium payable for such endorsement. If required by Lender, the release of any such portion of the Casualty Retainage shall be approved by the surety company, if any, which has issued a payment or performance bond with respect to the contractor, subcontractor or materialman.

  • Primary dose monitoring system means a system which will monitor the useful beam during irradiation and which will terminate irradiation when a pre-selected number of dose monitor units have been delivered.

  • Alteration Threshold means an amount equal to 5% of the outstanding principal amount of the Loan.