Application of Funds definition

Application of Funds. If any statute or rule of law shall validly limit the amount of any final damages described in this Article to less than the amount determined herein, Landlord shall be entitled to the maximum amount allowable under such statute or rule of law. In the event Landlord elects to proceed under the authority of Subsections 10.2.2, 10.2.3, or 10.2.4 of Section 10.2 of this Article, Landlord shall make reasonable effort to collect rentals from sublessees or new lessees of this entire Premises or portions thereof, reserving however, at Landlord's sole discretion, the right to determine the method of collection and the extent to which enforcement of collection of delinquent rents shall be prosecuted. All rents, and all other income derived from operation of the improvements by Landlord, to the extent such are not paid and applied by any sublessee or new lessee of the Premises, may be applied first to the payment and accrual of taxes; second, to the payment of all sums and money due and owing from time to time under any mortgage and any other permitted encumbrance upon the Premises, superior to the interests of Landlord; third, to the cost of operating the Premises, superior to the interests of Landlord; third, to the cost of operating the Premises and improvements; fourth, to the cost of the administration and collection of rents by Landlord; and fifth, to the payment of rent due and owing Landlord hereunder. Tenant shall be liable to Landlord for the deficiency, if any, between Tenant's rent and all other charges hereunder, and that applied by Landlord to said amounts in the manner hereby authorized. No action taken pursuant to Section 10.2 of this Article (including repossession of the Premises or termination of the Lease) shall relieve Tenant from Tenant's obligations for rent and all other charges hereunder which shall survive any such action, and Landlord may take whatever action by law or in equity as may appear necessary or desirable to collect the rent and other amounts then due and thereafter to become due and/or to enforce the performance and observance of any obligation, agreement or covenant of Tenant hereunder.
Sample 1
Application of Funds is replaced in its entirety with the following: Section 8.3
Sample 1
Application of Funds. Acquisition Costs: Land 1,112,726 Building 1,112,726 Construction Costs: Building Costs 6,566,954 Furnishings & Equipment 675,879 Site Work 1,651,014 General Conditions/Overhead 1,036,322 Profit 82,331 Performance Bond 10,012,500 Subtotal General 400,000 Contractor 238,372 Construction Contingency 84,136 Tap Fees & Bldg. Permits Direct Construction Costs By 10,735,008 Partnership Legal/Organizational: Legal - Bond Issuance 151,548 Legal - Real Estate 10,000 Legal - Corporate 39,500 Title & Recording 20,000 Audit Tax 25,000 246,048 Construction Financing: LOC Origination Fee 226,309 LOC Annual Fees During 355,628 Construction 767,400 Bond Interest During (300,000) Construction Less Interest Income on 1,049,337 Investments Soft Costs: Architectural & Engineering 142,500 Construction Period Taxes & 18,500 Insurance 28,000 3rd Party Fees For Professional 181,675 Services 83,867 Issuance Costs Tax Credit Fees 454,542 Interim Operating Costs: Advertising 30,000 Lease Up Reserve 348,500 378,500 Development Fees: Overhead 300,000 Developer Fee 1,530,000 1,830,000 Total Application Of Funds 15,806,161
Sample 1

Examples of Application of Funds in a sentence

  • Section 905.Pro Rata Application of Funds Among Owners of a Series of Bonds.

  • Application of Funds: The proceeds received by the Company from the sale of Stock pursuant to the exercise of Options or rights under Stock Purchase Agreements will be used for general corporate purposes.

  • Information Regarding the Application of Funds on Deposit in the Collection Account for the Series 1996-2 Certificates, pursuant to Section 4.08 of the Series Supplement 1.

  • Information Regarding the Application of Funds on Deposit in the Collection Account for the Series 1994-3 Certificates, pursuant to Section 4.08 of the Series Supplement 1.

  • Pro Rata Application of Funds Among Owners of a Series of Bonds ..

  • See "Sources of Funds to Pay the Notes—Deposit and Application of Funds for the BAseries—Targeted Deposits of BAseries Available Principal Amounts to the Principal Funding Account—Budgeted Deposits" in the prospectus.

  • The Forecast Distribution, Tax-Advantaged Calculation, Pro-Forma Statement of Financial Position and Sources and Application of Funds are provided below and should be read in conjunction with the notes and assumptions in Section 1.5. These forecasts have been prepared based on best estimate assumptions and statement of significant accounting policies in this section.

  • The Tenant shall, upon written request of the Landlord, produce audited Financial Statements of the Tenant, which statements shall include a Balance Sheet, Income Statement, Statement of Retained Earnings, Statement of Source and Application of Funds.

  • Provision of a Source and Application of Funds table / schedule is recommended.

  • Information Regarding the Application of Funds on Deposit in the Collection Account for the Series 1994-2 Certificates, pursuant to Section 4.08 of the Series Supplement 1.

Related to Application of Funds

  • Fund of Funds means a registered investment company or series of a Fund which is managed and administered by Service Company and which invests substantially all of its assets in shares of two or more Funds (or series thereof).

  • transfer of funds means any transaction at least partially carried out by electronic means on behalf of a payer through a payment service provider, with a view to making funds available to a payee through a payment service provider, irrespective of whether the payer and the payee are the same person and irrespective of whether the payment service provider of the payer and that of the payee are one and the same, including:

  • Description of Notes means the “Description of the Notes” section of the Final Offering Memorandum.

  • Cost of Funds means, with respect to a Loan in an Alternative Currency, the actual cost to a Lender of funding or maintaining such Loan in the applicable currency from whatever source it may reasonably select for the relevant Interest Period.

  • CREFC® Reconciliation of Funds Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Reconciliation of Funds Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • L/C Application means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer.

  • Application Event means the occurrence of (a) a failure by Borrowers to repay all of the Obligations in full on the Maturity Date, or (b) an Event of Default and the election by Agent or the Required Lenders to require that payments and proceeds of Collateral be applied pursuant to Section 2.4(b)(iii) of this Agreement.

  • REIT Provisions of the Code means Sections 856 through 860 of the Code and any successor or other provisions of the Code relating to real estate investment trusts (including provisions as to the attribution of ownership of beneficial interests therein) and the regulations promulgated thereunder.

  • Request for Loan means a written request for a Loan substantially in the form of Exhibit E, signed by a Senior Officer of the applicable Borrower and properly completed to provide all information required to be included therein.

  • Application Date or "APP" means the date CLEC provides Qwest an application for service containing required information as set forth in this Agreement.

  • Request for Release A release signed by a Servicing Officer, in the form of Exhibit E attached hereto.

  • Application Process means the online application process under which the Applicant applies for Hospitality Packages on the Webshop.

  • Application Money shall have the meaning ascribed to it in Clause 1.11; “Association” shall mean the body to be created by the Apartment Acquirers;