Capital Reserve Amount definition

Capital Reserve Amount means, with respect to each Individual Property, an amount equal to the greater of (i) four percent (4%) of projected annual Gross Revenue set forth in the then current Approved Budget and (ii) the amount required to be reserved per annum with respect to Capital Improvement Costs pursuant to the applicable Management Agreement.

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Capital Reserve Amount means with respect to the Facility, an amount ---------------------- equal to the greater of (i) $250 multiplied by the number of apartment units in the Facility per annum and (ii) the amount indicated in the Engineering Report(s) as the annual amount required to maintain the Facility.

Capital Reserve Amount means $134,000 per annum which is $250 per unit and the sum of the amounts specified for each Individual Property in the Capital Reserve Amount column on Schedule 1 attached hereto.

Examples of Capital Reserve Amount in a sentence

However, Landlord agrees that the Project shall be operated and maintained in a first-class manner and condition during the Term and shall expend portions of the Capital Reserve Amount from time to time during the Term in order to comply with such obligations.
Landlord shall have no obligation to fund the entire Capital Reserve Amount by any date during the Term.
Landlord shall have no obligation to fund the entire Capital Reserve Amount by any date during the Term and any unused portion is non-refundable to Tenant.
However, Landlord agrees that the Project shall be operated and maintained in a first-class manner and condition during the Term and Landlord shall expend portions of the Capital Reserve Amount from time to time during the Term in order to comply with such obligations.
Upon completion of the repairs and environmental remediation to the Facilities itemized on Exhibit C hereto, Borrower may provide Lender with the documentation described in this paragraph and subject to the terms set forth in this paragraph, Lender shall release the remainder of the Initial Capital Reserve Amount, to the extent such funds have not been released to Borrower.
Applicable Capital Reserve Amount Section 10(g)(ii) of the Certificate provides that the consent of Treasury, as the holder of at least two-thirds of the outstanding shares of Senior Preferred Stock, is necessary to authorize any amendment of the Certificate affecting the interests of the holders.
Upon completion of the repairs and environmental remediation to the Facility itemized on Exhibit C hereto, --------- Operator may provide Lender with the documentation described in this paragraph and subject to the terms set forth in this paragraph, Lender shall release the remainder of the Initial Capital Reserve Amount, to the extent such funds have not been released to Operator.
For the avoidance of doubt, the Working Capital Reserve Amount is exclusive of the Contributed Restaurant Working Capital Reserve Amount.
Notwithstanding anything contained herein to the contrary, on the Closing Date Borrower shall deposit (i) the Initial Basic Carrying Costs Amount into the Basic Carrying Costs Sub-Account, (ii) the Initial Capital Reserve Amount into the Capital Reserve Sub-Account and (iii) the Initial Debt Service Reserve Amount into the Debt Service Reserve Sub-Account.
At Closing, Buyer shall receive a credit against the Purchase Price in an amount equal to the Capital Reserve Amount as shown on Schedule 12.7.

More Definitions of Capital Reserve Amount

Capital Reserve Amount means the amount shown as such on Exhibit B.

Capital Reserve Amount means with respect to the Facility, an amount equal to (i) $0.35 multiplied by the number of square feet of gross rentable area (as approved by Lender) for the Office Space per annum and (ii) $0.20 multiplied by the number of square feet of gross rentable area (as approved by Lender) for the Retail Space.

Capital Reserve Amount means, at any time, the aggregate amount of the annual replacement reserves for Capital Improvement Costs for each Facility which may be increased by the Borrowers but may not be less than an amount equal to the greater of (y) the product of (1) $0.15 and (2) the aggregate area of all improvements in all Facilities, measured in square feet, and (z) the amount identified in the Engineering Report for such Facility as the annual amount needed to be reserved for on-going capital expenditures.

Capital Reserve Amount means the amount of proceeds from the sale or other disposition of certain Other Designated Assets which the Company or its Subsidiaries may retain for working capital purposes as indicated on Schedule "A" attached to this Agreement.

Capital Reserve Amount means (a) prior to or on the date of the initial Borrowing of the Closing Date Loans an amount equal to $15,000,000 and (b) on or prior to each subsequent date on which a Borrowing occurs, an amount equal to the sum of three (3) months of Interest due and payable on the principal amount of all Loans outstanding as of such day (including pursuant to such Borrowing), each as may be determined by the Company and certified to the Administrative Agent by an Authorized Officer of the Company in accordance with Section 3.2.

Capital Reserve Amount means the amount of the annual replacement reserve for capital expenditures which may be increased by Borrower but may not be less than the amount shown for each Individual Property on Schedule 1 attached hereto.