CapEx Reserve means, at any time, the sum determined by taking 50% of the amount, if any, by which (a) the product of $4,000,000 and the number of Fiscal Years completed at such time since the Fiscal Year ending July 31, 1995, exceeds (b) the aggregate Unfunded Capital Expenditures for all Fiscal Years completed at such time since the Fiscal Year ending July 31, 1995.
CapEx Reserve. As defined in Section 9.1(e)(iv).
CapEx Reserve means, as of any date of determination and with respect to any Property, an amount equal to the product of (a) $250 multiplied by (b) the number of units located at such Property.
Examples of CapEx Reserve in a sentence
Lessor shall make disbursements from the CapEx Reserve as requested by Lessee for Required Capital Expenditures, but in no event more frequently than once in any thirty (30) day period in an amount of no less than $5,000.00 (or such lesser amount that may then be held in the CapEx Reserve) upon delivery by Lessee of reasonably satisfactory evidence that the disbursements requested are for Required Capital Expenditures.
More Definitions of CapEx Reserve
CapEx Reserve means the reserve held by Lender consisting of any amounts deposited with Lender pursuant to Section 2.5.1(b) and Section 2.6(d), which shall be applied by Lender for the purposes of paying Approved CapEx in accordance with and subject to the terms hereof.
CapEx Reserve means a bank account complying with the requirements of ------------- Section 5.07 established by the Borrower with the Administrative Agent.
CapEx Reserve shall have the meaning given such term in Section 5.2.1.
CapEx Reserve shall have the meaning set forth in Section 3.2.
CapEx Reserve shall have the meaning set forth in Section 5.2.
CapEx Reserve means, as of any date of determination, a reserve in an amount equal to $3,300,000 projected to be incurred by Borrowers in the period from the Closing Date through and including December 31, 2010 in connection with the facility located at Palm Coast, Florida, such reserve to be reduced as such Capital Expenditure are incurred and paid by Borrowers and eliminated upon Borrowers providing evidence satisfactory to Agent in its reasonable discretion that no additional such Capital Expenditures will be incurred and so long as any such Capital Expenditures are not incurred.
CapEx Reserve is defined in Section 3.3.