Disposal Reduction Amount definition

Disposal Reduction Amount means the amount equal to the Loans outstanding plus the Available Commitments multiplied with such proportion as the Market Value of such Rig bears to the aggregate of the Market Values of all the Rigs immediately prior to its Total Loss or completion of its sale or disposal at the date of the Total Loss or completion of the sale or disposal of such Rig;
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Disposal Reduction Amount means the Disposal Reduction Amount-Rigs and the Disposal Reduction Amount-Xxxx Xxxxx.
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Disposal Reduction Amount has the meaning ascribed to it in Clause 9.3;
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Examples of Disposal Reduction Amount in a sentence

  • The amounts accumulated in such accounts shall be applied on each Disposal Reduction Date in payment to the Agent of the Disposal Reduction Amount in respect of the relevant Ship and, provided that no Event of Default has occurred and is continuing, the balance standing to the credit of the relevant accounts shall be released to the relevant seller immediately following such application.

  • Without prejudice to the Borrower's obligation to make any payment due under Clause 5.3(D) the Commitments shall be suspended for a period of up to twelve (12) months from the relevant Disposal Reduction Date in an amount equal to the relevant Disposal Reduction Amount or, if the Borrower so elects in writing to the Agent within ten (10) Banking Days of such Disposal Reduction Date, in such higher amount as it may specify.

  • On each Disposal Reduction Date applicable to a Transferred Ship, the Commitments shall, subject to Clause 9.3(E), be reduced by the relevant Disposal Reduction Amount.

  • The Borrower shall within such twelve (12) month period provide the Security Agent with substitute security with a value equal to the Disposal Reduction Amount (adjusted if appropriate in accordance with the following provisions of this paragraph).

  • If the Asset Disposal Reduction Amount exceeds fifty percent (50%) of the Threshold Amount the Total Commitment shall reduce on the fifth (5th) Business Day after the Determination Date by an amount equal to such excess.

  • When the Agent determines a Disposal Reduction Amount in accordance with this clause 4.3, it shall promptly notify that amount to the Borrower.

  • The values determined in accordance with clause 6.4.2 shall be binding upon the parties hereto for the purposes of determining the Disposal Reduction Amount for a Disposal Reduction Date and all costs in connection with the Facility Agent obtaining any valuation for such purpose shall be borne by the Borrower.

  • If a Mortgaged Port or any part thereof is sold (other than any part of a Mortgaged Port which is sold for a consideration of less than $25,000 or the equivalent thereof in any other currency), or any of the shares in the capital of any Port Owner are sold, the aggregate amount of the Commitments shall, subject to Clause 9.3(E), be reduced on the Disposal Reduction Date relating thereto by the relevant Disposal Reduction Amount.

  • If a Mortgaged Port or any part thereof is sold (other than any part of a Mortgaged Port which is sold for a consideration of less than $25,000 or the equivalent thereof in any other currency), or any of the shares in the capital of any Port Owner are sold, the aggregate amount of the Commitments shall, subject to Clause 5.3(E), be reduced on the Disposal Reduction Date relating thereto by the relevant Disposal Reduction Amount.

  • The costs of the third appraiser shall be shared equally by the Members.


More Definitions of Disposal Reduction Amount

Disposal Reduction Amount has the meaning given to that term in clause 4.3.4(a);
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Disposal Reduction Amount means, with respect to a Drilling Unit or Drilling Unit Owner, the amount equal to the Relevant Guarantee Portion in respect of such Drilling Unit or the Drilling Unit owned by such Drilling Unit Owner.
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Disposal Reduction Amount in relation to a Mortgaged Ship which has become a Total Loss or is sold, an amount in Dollars which is the lesser of:-
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Disposal Reduction Amount means, in relation to a Rig (or a Rig Owner), the then outstanding principle amounts of any Loans under the Facility multiplied with a fraction, the numerator of which is the Market Value of such Rig (or if a Rig Owner is sold, the Market Value of the Rig owned by that Rig Owner) immediately prior to such disposal or Total Loss, and the denominator of which is the aggregate Market Value of all Rigs collateral to the Finance Documents immediately prior to such disposal or Total Loss. (ii) “Disposal Reduction Date” means: (A) in the case of a disposal, the date upon which the disposal of such Rig (or Rig Owner owning a Rig) is completed; or (B) in the case of a Total Loss, the date which is the earlier of the date the proceeds from the Insurances are available and 120 days after the Total Loss Date.
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Related to Disposal Reduction Amount

  • Appraisal Reduction Amount shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Class Y Principal Reduction Amounts For any Distribution Date, the amounts by which the Class Principal Balances of the Class Y-1 and Class Y-2 Regular Interests, respectively, will be reduced on such Distribution Date by the allocation of Realized Losses and the distribution of principal, determined as described in Appendix 1.

  • Reduction Amount has the meaning set forth in Section 2.05(b)(viii).

  • Cumulative Appraisal Reduction Amount As of any date of determination by the Special Servicer, the sum of (i) all Appraisal Reduction Amounts then in effect, and (ii) with respect to any AB Modified Loan, any Collateral Deficiency Amount then in effect. The Certificate Administrator and the Master Servicer shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Cumulative Appraisal Reduction Amount. None of the Master Servicer, the Trustee nor the Certificate Administrator shall calculate or verify any Cumulative Appraisal Reduction Amount.

  • FX Reduction Amount is defined in Section 2.1.3.

  • Overcollateralization Reduction Amount With respect to any Distribution Date on which the Excess Overcollateralization Amount is, after taking into account all other distributions to be made on such Distribution Date, greater than zero, the Overcollateralization Reduction Amount shall be equal to the lesser of (i) the Excess Overcollateralization Amount for that Distribution Date and (ii) the Principal Remittance Amount on such Distribution Date.

  • Retention Amount means, in relation to any Retention Date, such sum as shall be the aggregate of:

  • Subordination Reduction Amount With respect to any Distribution Date, an amount equal to the lesser of (a) the Excess Subordinated Amount and (b) the Net Monthly Excess Cash Flow.

  • Monthly Principal Reallocation Amount means, for any Monthly Period, an amount equal to the sum of:

  • Allocation Amount means, as of the Closing Date, the Series 2023-1 Stated Principal Amount and on any date of determination thereafter, the sum of, without duplication, (a) the Allocation Amount determined as of the later of the Closing Date or the date of determination immediately prior to the then current date of determination, plus (b) the amount of all increases in the Series 2023-1 Stated Principal Amount resulting from the issuance of additional Series 2023-1 Notes since the prior date of determination, plus (c) all reimbursements, as provided in Section 4.04(e) or otherwise, of reductions in the Allocation Amount due to Investor Charge- Offs or Reallocated Principal Collections since the prior date of determination, minus (d) the amount of the reduction in the Allocation Amount due to Investor Charge-Offs since the prior date of determination, determined as set forth in Section 4.07, minus (e) the amount of the reduction in the Allocation Amount due to the application of Reallocated Principal Collections since the prior date of determination, determined as set forth in Section 4.08, minus (f) the amount deposited into the Principal Funding Account or (without duplication) deposited into the Distribution Account pursuant to Section 4.05(c) or paid to the Series 2023-1 Noteholders (in each case, after giving effect to any deposits, allocations, reallocations or withdrawals to be made on that day) since the prior date of determination; provided, however, that (1) the Allocation Amount may never be less than zero, (2) the Allocation Amount may never be greater than the Adjusted Outstanding DollarPrincipal Amount and (3) if there is a sale of Collateral in accordance with Section 4.14, the Allocation Amount will be reduced to zero upon such sale.

  • Maximum Contribution Amount shall equal the excess of (i) the aggregate proceeds received by such Holder pursuant to the sale of such Registrable Notes or Exchange Notes over (ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(d) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not joint. The Company’s and Subsidiary Guarantors’ obligations to contribute pursuant to this Section 8(d) are joint and several. The indemnity and contribution agreements contained in this Section 8 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties.

  • Class A Required Amount shall have the meaning specified in subsection 4.04(a).

  • Subordinate Reduction Amount With respect to any Payment Date, the sum of the Scheduled Principal, Unscheduled Principal and Recovery Principal for such Payment Date, less the Senior Reduction Amount.

  • Class B Required Amount shall have the meaning set forth in subsection 4.04(b).

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Forward Price Reduction Amount For each Forward Price Reduction Date, the Forward Price Reduction Amount set forth opposite such date on Schedule I. Shares: Common stock, USD 0.01 par value per share, of Party B (also referred to herein as the “Issuer”) (Exchange identifier: “VICI”). Exchange: New York Stock Exchange. Related Exchange(s): All Exchanges. Clearance System: DTC. Calculation Agent: Party A.

  • Aggregate Overcollateralization Release Amount With respect to any Distribution Date, the lesser of (x) the aggregate of the Principal Remittance Amounts for each Mortgage Pool for such Distribution Date and (y) the amount, if any, by which (i) the Overcollateralization Amount for such date, calculated for this purpose on the basis of the assumption that 100% of the aggregate of the Principal Remittance Amounts for such Distribution Date is applied on such date in reduction of the aggregate Certificate Principal Amount of the Certificates, exceeds (ii) the Targeted Overcollateralization Amount for such Distribution Date.

  • Required Amount means, with respect to any Monthly Period, the sum of the Class A Required Amount, the Class B Required Amount and the Collateral Senior Required Amount.

  • Undercollateralized Amount As defined in Section 4.01(b)(iii).

  • maximum council tax reduction amount means the amount determined in accordance with paragraph 29;

  • Class B-5 Distribution Amount As to any Distribution Date, any amount distributable to the Holders of the Class B-5 Certificates pursuant to Paragraphs seventeenth, eighteenth, and nineteenth of Section 4.01(a).

  • Basic Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the Principal Remittance Amount for such Distribution Date over (ii) the Excess Subordinated Amount, if any, for such Distribution Date.

  • Cash Flow Distribution Amount As to any calendar month, the aggregate amount of principal distributable in respect of the Mortgage Securities in such calendar month.

  • Class B Available Funds means, with respect to any Monthly Period, an amount equal to the sum of (a) the Class B Floating Percentage of the Reallocated Investor Finance Charge Collections and (b) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class B Floating Percentage of the Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date.

  • Class B-6 Distribution Amount As to any Distribution Date, any amount distributable to the Holders of the Class B-6 Certificates pursuant to Paragraphs twentieth, twenty-first and twenty-second of Section 4.01(a).

  • Class A Available Funds means, with respect to any Monthly Period, an amount equal to the sum of (a) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class A Floating Percentage of Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date, (b) the Class A Floating Percentage of the Reallocated Investor Finance Charge Collections and (c) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to subsection 4.12(d), are required to be included in Class A Available Funds with respect to such Distribution Date.