CapEx Reserve definition

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.
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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.
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CapEx Reserve. As defined in Section 9.1(e)(iv).
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Examples of CapEx Reserve in a sentence

  • Tenant acknowledges that the impounding of such funds in the CapEx Reserve shall constitute a true escrow, and that Tenant has no, and hereby waives any, interest in or right or title to any funds escrowed pursuant to this Section 8.3, whether legal, equitable, beneficial or otherwise.

  • The requirements for disbursements of CapEx Reserve Funds and FF&E Reserve Funds identified on Schedule 9.

  • In the event that as of the expiration or earlier termination of the Lease the Required CapEx for which such CapEx Reserve Funds were deposited has not be satisfied, then Landlord shall be entitled to receive and retain such CapEx Reserve Funds to the extent not satisfied and any remainder shall be released to and retained by Tenant.

  • For the avoidance of doubt, any funds disbursed from the CapEx Reserve and spent on required Qualifying CapEx as described in this Section shall be applied to the Required CapEx for the period for which such funds were deposited (and shall be deemed to be the funds that have been in the CapEx Reserve for the longest period of time) and shall not be applied to the Required CapEx for the subsequent period in which they are actually spent.

  • Tenant shall be responsible for payment of any federal, state or local income or other tax applicable to the interest earned on the CapEx Reserve Funds credited or paid to Tenant.


More Definitions of CapEx Reserve

CapEx Reserve means a bank account complying with the requirements of ------------- Section 5.07 established by the Borrower with the Administrative Agent.
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CapEx Reserve shall have the meaning given such term in Section 5.2.1.
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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.
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CapEx Reserve as set forth on the Underwriting Schedule for the relevant metropolitan statistical area in which such Property is located, plus ​
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CapEx Reserve shall have the meaning set forth in Section 5.2.
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CapEx Reserve means the amount, initially $300,000, deposited in the Restricted Payment Account to make CapEx Reserve Payments when due, as such amount is reduced by the amount of any CapEx Reserve Payments made in accordance with Section 8.5.
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CapEx Reserve. An Eligible Account for the benefit of Tenant.
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