Alteration Threshold Amount definition

Alteration Threshold Amount shall have the meaning set forth in Section 5.1.20 hereof.

Alteration Threshold Amount shall have the meaning assigned to such term in the Mortgage Loan Agreement.

Alteration Threshold Amount means, as to each Property, Five Hundred Thousand Dollars ($500,000.00) in aggregate alteration costs ongoing at any time, provided that (a) so long as Tenant’s Occupancy Percentage at a Major Property is at least fifty percent (50%), the Alteration Threshold Amount for such Major Property shall equal One Million Dollars ($1,000,000.00) in aggregate alterations costs and (ii) the aggregate Alterations Threshold Amount for alteration costs ongoing at all Properties at any time shall not exceed Ten Million Dollars ($10,000,000.00).

Examples of Alteration Threshold Amount in a sentence

• Such security (if given as set forth above) shall be in an amount equal to the excess of the total unpaid amounts with respect to alterations to the Improvements on the applicable Property (other than such amounts to be paid or reimbursed by tenants under the Leases) over the Alteration Threshold Amount and during the continuance of an Event of Default, Lender may apply such security from time to time at the option of Lender to pay for such alterations.

• Such security shall be in an amount equal to the excess of the total unpaid amounts with respect to alterations to the Improvements on the applicable Property (other than such amounts to be paid or reimbursed by tenants under the Leases) over the Alteration Threshold Amount and during the continuance of an Event of Default, Lender may apply such security from time to time at the option of Lender to pay for such alterations.

• Such security shall be in an amount equal to the excess of the total unpaid amounts with respect to Alterations to the Improvements on the Property (other than such amounts to be paid or reimbursed by tenants under the Leases) over the Alteration Threshold Amount shall be applied from time to time at the request of Borrower to pay (or reimburse Borrower) for such Alterations as the related work is performed (subject to Lender’s reasonable oversight and approval prior to any such application).

• Borrower shall obtain Lender’s prior written consent to any Alterations to any Improvements costing in excess of the Alteration Threshold Amount with respect to the Property, which consent shall not be unreasonably withheld except with respect to Alterations that could reasonably be expected to have a Material Adverse Effect.

• Such security shall be in an amount equal to the excess of the total unpaid amounts with respect to alterations to the Improvements on the Property (other than such amounts to be paid or reimbursed by tenants under the Leases) over the Alteration Threshold Amount and applied from time to time at the option of Lender to pay for such alterations or to terminate any of the alterations and restore the Property to the extent necessary to prevent any material adverse effect on the value of the Property.

More Definitions of Alteration Threshold Amount

Alteration Threshold Amount means (i) prior to Substantial Completion of the Project (but excluding any portion of the Project), Two Million and No/100 Dollars ($2,000,000.00), and (ii) following Substantial Completion of the Project, Three Million and No/100 Dollars ($3,000,000.00).

Alteration Threshold Amount means, with respect to an Alteration at the Property, an amount equal to 4% of the original principal balance of the Loan.

Alteration Threshold Amount means an amount equal to $6,500,000 provided, however, that for so long as the Mezzanine Loan D is outstanding, the Alteration Threshold Amount shall equal $2,500,000.00.

Alteration Threshold Amount means $2,000,000.

Alteration Threshold Amount means Five Hundred Thousand Dollars ($500,000.00) in aggregate alteration costs ongoing at any time, provided that so long as Tenant’s Occupancy Percentage is at least fifty percent (50%), the Alteration Threshold Amount shall equal One Million Dollars ($1,000,000.00) in aggregate alterations costs. BBD-1 Separate Lease Form

Alteration Threshold Amount means One Million Eight Hundred Forty-Five Thousand and No/100 Dollars ($1,845,000.00).

Alteration Threshold Amount means an amount equal to $5,000,000.00.