Completion Reserve definition

Completion Reserve has the meaning specified in Section 6.01(a).
Sample 1Sample 2Sample 3
Completion Reserve shall have the meaning set forth in Section 6.4.
Sample 1Sample 2
Completion Reserve means the portion of the Borrowing Base and unused Commitment that has been reserved for (x) Completion of uncompleted Product or acquisition of Product (including without limitation, the payment of the entire acquisition price or minimum advance for any item of Product acquired from a third party) and (y) any committed prints and advertising expenditure which is a condition precedent to payments of items for which receivables have been included in the Borrowing Base.
Sample 1Sample 2

Examples of Completion Reserve in a sentence

  • The right to withdraw and apply the Completion Reserve in accordance with the foregoing shall be in addition to all other rights and remedies provided to the Administrative Agent and the Lenders under this Agreement and the other Loan Documents.

  • On the Closing Date, the Borrowers deposited with the Paying Agent funds in the amount of Three Million Dollars ($3,000,000.00) (the “Completion Reserve”), which amount was transferred to the Completion Reserve Account.

  • WPPI agrees to diligently and in good faith pursue completion of the Uncompleted Punch List Items and Final Completion of the Hotel as soon as reasonably possible and upon Final Completion, WPPI shall be entitled to receive all of the funds remaining in the Completion Reserve.

  • The Borrower may direct the Administrative Agent regarding investment of funds contained in the Completion Reserve Account in Cash Equivalents.

  • The Borrower hereby grants a security interest to the Administrative Agent in the Completion Reserve Account to secure the Obligations.

  • Lender will release the Acuity Mix Conversion Completion Reserve upon review and approval by Lender of evidence provided by Borrower demonstrating (a) 90% of the Estimated Cost of Completion has been expended and the Acuity Mix Conversion is on schedule and budget according to the inspecting architect/engineer report or applicable AIA form, and (b) the Mortgaged Property’s re-stabilization and attainment of a DCR equal to or greater than ______.

  • Thereafter, WPPI shall utilize the funds in the Completion Reserve for purposes of completing or causing WPPI’s construction manager to achieve Final Completion.

  • On the Term-Conversion Date, the Completion Reserve Borrowing shall be deposited into the Completion Reserve Account.

  • The Completion Reserve shall be funded by WPPI in accordance with the terms and conditions of an escrow agreement to be entered into and mutually agreed among WPPI, CWI and Escrow Agent.

  • Any disbursement from the Completion Reserve Account shall not constitute a waiver of the Administrative Agent's right to require compliance with this covenant with respect to any such defect or departure from the Approved Plans and Specifications or any other requirement of this Agreement.


More Definitions of Completion Reserve

Completion Reserve has the meaning ascribed thereto in Section 12.2(d). Concession has the meaning ascribed thereto in Section 3.1(b). Concession Fee has the meaning ascribed thereto in Section 13.1.
Sample 1
Completion Reserve means for each Designated Picture the amount required to be expended by the Credit Parties for Completion of that Designated Picture, including without limitation, an appropriate interest reserve for the period through Completion. The Completion Reserve shall be calculated by subtracting the aggregate amounts theretofore paid towards such purposes from the sum of the Strike Price for such Designated Picture, plus the amount of any enhancements committed to by a Credit Party for such Designated Picture, plus, to the extent not already included in one of the foregoing items, an appropriate interest reserve for the period through Completion of such Designated Picture. Upon Completion of such Designated Picture and payment of all items that should be reflected on the final negative cost statement for such Designated Picture, the Completion Reserve shall be zero.
Sample 1

Related to Completion Reserve

  • Final Completion means the date determined and certified by A/E and Owner on which the Work is fully and satisfactorily complete in accordance with the Contract.

  • Project Completion means the date, as determined by the Division after consultation with the Recipient, that operation of the Project is initiated or is capable of being initiated, whichever comes first.

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.

  • Operating Reserve means generation capacity or load reduction capacity which can be called upon on short notice by either Party to replace scheduled energy supply which is unavailable as a result of an unexpected outage or to augment scheduled energy as a result of unexpected demand or other contingencies.

  • Construction Debt means debt incurred to fund (a) all or a portion of a Capital Improvement, (b) interest payments (including periodic net payments under related interest rate swap agreements) and related fees on other Construction Debt or (c) distributions (including incremental Incentive Distributions) on Construction Equity.

  • Project Completion Date means the date on which the Completion Certificate is issued;

  • Construction Completion Date means the Completion Date of the Construction as specified in the Statutory Declaration of Completion for the Project;

  • Final Completion Date means the date on which Final Completion occurs.

  • Construction Completion means physical construction of a cleanup action component is complete.

  • project completion period means the period of sixty (60) months commencing from and expiring on for the construction and obtaining of Temporary Occupation Permit or Permits for the whole of the Development as provided in clause 3.3;

  • Construction Phase means that Phase of the Project which shall commence after the Authority provides the Trade Contractor with written Notice to Proceed with the Construction Phase.

  • Construction Plant means appliances, machinery with necessary supply to up keep and maintenance of the works or temporary works but dose not include materials or other things intended to form part of the permanent work.

  • Construction Work means any work in connection with⎯

  • Completion Date means the date of completion of the Services by the Service Provider as certified by the Procuring Entity

  • Commissioning test means tests applied to a distributed generation facility by the applicant after construction is completed to verify that the facility does not create adverse system impacts and performs to the submitted specifications. At a minimum, the scope of the commissioning tests performed shall include the commissioning test specified in Institute of Electrical and Electronics Engineers, Inc. (IEEE) Standard 1547 Section 5.4 "Commissioning tests".

  • Borrowing Base Test means as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.

  • Completion Accounts means the consolidated balance sheet of the Group as at the Completion Date to be prepared in accordance with Schedule 8 (Completion Accounts);

  • Construction project means the same as that term is defined in Section 38-1a-102.

  • Phase 2 means the phase of the ATP comprised of: (1) improvements to the State Street Substation to receive Rebuilt Line 972; (2) the rebuilding of NYSEG’s existing Line 972 not performed in Phase 1; (3) construction of Relocated Line 15; (4) the construction of Bused Line 5; (5) improvements to the Elbridge Substation to receive Relocated Line 15; and (6) improvements to the Elbridge Substation to receive Bused Line 5.

  • Project Commissioning means the Project will be considered as commissioned if all equipment as per rated project capacity has been installed and energy has flown into grid, in line with the Commissioning procedures defined in the RfS/PPA.

  • Required Reserve Amount means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes.

  • Required Repair Account shall have the meaning set forth in Section 7.1.1 hereof.

  • Day-ahead Scheduling Reserves Requirement means the sum of Base Day-ahead Scheduling Reserves Requirement and Additional Day-ahead Scheduling Reserves Requirement.

  • Required Repair Fund shall have the meaning set forth in Section 7.1.1 hereof.

  • Primary Reserve Requirement means the megawatts required to be maintained in a Reserve Zone or Reserve Sub-zone as Primary Reserve, absent any increase to account for additional reserves scheduled to address operational uncertainty. The Primary Reserve Requirement is calculated in accordance with the PJM Manuals.