Amount Funded definition
Examples of Amount Funded in a sentence
Seller will treat receipt of the Net Amount Funded to Seller and payment of the Purchased Amount in a manner evidencing sale of its Future Receipts in its accounting records and tax returns and further agrees that Buyer is entitled to audit Seller’s accounting records upon reasonable notice in order to verify compliance.
If such independent audit establishes that the Aggregate Amount Funded did not exceed twenty percent (20%) of the Total Property Purchase Price, this Guaranty shall continue in full force and effect.
Such required cash reserve shall exist and be used to reimburse Tenant for any Amount Funded by Tenant hereunder in Rent and except as herein otherwise provided, for no other purpose Tenant shall have no obligation to replenish such cash reserve.
The term of the letter of credit shall, in any event, not expire until thirty (30) days following the date that the Acquisition Properties achieve the coverage ratio hereafter specified or the Amount Funded by Tenant exceeds the amount of the original letter of credit at which time the letter of credit shall be returned to Tenant.
Further, upon the occurrence of an Event of Default, Landlord may draw on the letter of credit and retain from the proceeds thereof, the face amount thereof less all Amounts Funded by Tenant prior to the occurrence of the Event of Default and after the date the current letter of credit was delivered (it being understood that all proceeds of the letter of credit equal to the Amount Funded by Tenant after the date the current letter of credit was delivered shall be promptly delivered to Tenant).
If Tenant has delivered a letter of credit, there shall be no partial draws on the letter of credit for any Amount Funded.
Upon approval of such statement, Landlord shall, if Tenant has delivered a cash reserve, cause a sum of money equal to the Amount Funded by Tenant as reflected on such statement, to be released from the cash reserve and delivered to Tenant.
Following payment of Minimum Rent hereunder by Tenant as required herein, Tenant shall on or before the fifteenth (15th) day of each Accounting Period deliver or cause to be delivered to Landlord a statement reflecting the Amount Funded, if any, by Tenant for the immediately preceding Accounting Period.
In addition to any other security for Tenant's performance as may be contemplated by this Agreement, Tenant shall establish a cash reserve for the Acquisition Properties in the aggregate amount of $1,000,000.00, which may be used for reimbursement to Tenant of any Amount Funded hereunder and under the Lease for the other Acquisition Property and except as herein otherwise provided, for no other purpose.
The funding Contract Line Item Numbers (CLINs) for this agreement are listed below: TABLE 1 CLIN DESCRIPTION PERIOD OF PERFORMANCE MAXIMUM OBLIGATION AMOUNT FUNDED* PART A - TSCA AND CERCLA *Amount Funded refers to the total dollars obligated for the execution of this agreement per CLIN.