Alteration Threshold definition

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

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Alteration Threshold means, with respect to each Individual Property, five percent (5%) of the original Allocated Loan Amount (as defined in the Mortgage Loan Agreement) of such Individual Property.

Alteration Threshold means (a) in the aggregate at any given time, an amount equal to five percent (5%) of the amount of the Loan or (b) with respect to each Individual Property, an amount equal to the greater of (i) $2,000,000 and (ii) ten percent (10%) of the Allocated Loan Amount of such Individual Property.

Examples of Alteration Threshold in a sentence

The Alteration Threshold shall be increased on each Adjustment Date by the CPI Fraction.
If the total unpaid amounts incurred and to be incurred with respect to any alterations to the Improvements shall at any time exceed the Alteration Threshold, Borrower shall promptly deliver to Lender as security for the payment of such amounts and as additional security for Borrower’s obligations under the Loan Documents any of the following: (i) cash, (ii) U.S. Obligations, (iii) other security acceptable to Lender, or (iv) a completion bond acceptable to Lender.
Notwithstanding anything contained herein to the contrary, ▇▇▇▇▇▇’s prior approval shall be required in connection with any alterations to any Improvements (a) that may have a Material Adverse Effect, (b) the cost of which (including any related alteration, improvement or replacement) is reasonably anticipated to exceed the Alteration Threshold or (c) that are structural in nature, which approval may be granted or withheld in ▇▇▇▇▇▇’s sole discretion.
Such security shall be in an amount equal to the excess of the total unpaid amounts incurred and to be incurred with respect to such alterations to the Improvements over the Alteration Threshold.

More Definitions of Alteration Threshold

Alteration Threshold means (i) with respect to each Individual Property, an amount equal to the greater of (A) 10% of the outstanding principal amount of the Allocated Loan Amount (as defined in the Mortgage Loan Agreement) attributable to such Individual Property and (B) $500,000 and (ii) with respect to the Properties in the aggregate, an amount equal to $50,000,000.

Alteration Threshold means $1,000,000.00.

Alteration Threshold. As defined in Section 10.1.

Alteration Threshold means $500,000.00.

Alteration Threshold means (a) with respect to any Individual Property undergoing an alteration and/or a Restoration and/or subject to Flagging Costs, an amount equal to $1,000,000, and (b) with respect to all Individual Properties undergoing alterations and/or Restorations and/or subject to Flagging Costs, an aggregate amount equal to five percent (5%) of the Outstanding Principal Balance, in each case excepting alterations made pursuant to an Approved Annual Budget, Approved Alterations or as otherwise reasonably approved by the Lender.

Alteration Threshold means five percent (5%) of the outstanding principal balance of the Loan.

Alteration Threshold means an amount equal to four percent (4%) of the outstanding principal balance of the Loan.