Excess Cash Flow Reserve Fund definition

Excess Cash Flow Reserve Fund shall have the meaning set forth in Section 7.5 hereof.
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Excess Cash Flow Reserve Fund and the account to which such amounts are held shall hereinafter be referred to as the “Excess Cash Flow Reserve Account”.
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Excess Cash Flow Reserve Fund shall have the meaning set forth in the Mortgage Loan Agreement.
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Examples of Excess Cash Flow Reserve Fund in a sentence

  • Agent shall disburse funds on deposit in the Excess Cash Flow Subaccount to the Excess Cash Flow Reserve Fund for the purposes set forth in Section of the Loan Agreement.

  • Agent shall disburse funds on deposit in the Excess Cash Flow Subaccount to the Excess Cash Flow Reserve Fund for the purposes set forth in Section 7.5 of the Loan Agreement.


More Definitions of Excess Cash Flow Reserve Fund

Excess Cash Flow Reserve Fund and the account to which such amounts are held shall hereinafter be referred to as the “Excess Cash Flow Reserve Account”. If on or prior to the Anticipated Repayment Date Borrower does not pay to Lender the Outstanding Principal Balance, all accrued and unpaid interest and all other amounts due hereunder and under the Note, the Security Instrument and the other Loan Documents, then, on the Anticipated Repayment Date, all funds in the Excess Cash Flow Reserve Account and all Excess Cash Flow that accrues thereafter shall be applied pursuant to the Note. Following the Anticipated Repayment Date, all Excess Cash Flow in the Cash Management Account shall be applied by Lender pursuant to the Note.
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Excess Cash Flow Reserve Fund and the account to which such amounts are held shall hereinafter be referred to as the “Excess Cash Flow Reserve Account”. Upon the occurrence of a Cash Trap Event Cure and provided that no Event of Default, Mortgage Loan Default or Mezzanine B Loan Default shall have occurred and be continuing all funds on deposit in the Excess Cash Flow Reserve Account shall be deposited into the Cash Management Account and applied in accordance with Section 2.6 hereof. All funds held in the Excess Cash Flow Reserve Fund shall be treated as a “Reserve Fund” for purposes of Section 7.6 hereof. All additional amounts deposited under this Section 7.6 shall be additional security for the repayment of the Debt and may be withdrawn by Lender upon the occurrence and during the continuance of an Event of Default and applied by Lender to the Debt in such order and priority as Lender may determine. Borrower shall be permitted, during the continuance of a Cash Trap Event relating to a Debt Yield Trigger Event, upon request, at most twice per week, to use amounts on deposit in the Excess Cash Flow Reserve Fund to pay for (without duplication), (a) Excess Operating Expenses and Excess Overhead Expenses (subject to the Excess Overhead Cap), as approved by Lender, Mortgage Lender and the Mezzanine B Lender (subject approval not to be unreasonably withheld, conditioned or delayed), (b) payment of shortfalls in (i) Taxes (after application of amounts then on deposit in the Tax Escrow Fund) as required under Section 7.2 of this Agreement and (ii) Ground Rent (after application of amounts then on deposit in the Ground Lease Reserve Fund) as required under Section 7.5.1, (c) any fees (excluding late charges, default interest and prepayment fees) due to Lender pursuant to the Loan Documents, (d) legal fees arising in connection with Borrower’s ownership and operation of the Collateral (provided that Excess Cash Flow shall not be used for legal fees in connection with (i) the enforcement of any Loan Party’s, any Mortgage Loan Party’s or Mezzanine B Borrower’s rights under the Loan Documents, the Mortgage Loan Documents or Mezzanine B Loan Documents, as applicable or (ii) any defense of any enforcement by Lender, Mortgage Lender or Mezzanine B Lender of its rights under the Loan Documents, the Mortgage Loan Documents or Mezzanine Loan Documents, as applicable), (e) audit and tax expenses arising in connection with Borrower’s ownership and operation of the Collateral, (f) costs of Restoration i...
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Excess Cash Flow Reserve Fund and the account to which such amounts are held shall hereinafter be referred to as the “Excess Cash Flow Reserve Account”. Notwithstanding the foregoing, (i) in the event of a Cash Sweep Period triggered by the Extension Term Trigger Event, funds in the Excess Cash Flow Reserve Account shall be applied pursuant to Section 2.3.1 herein and (ii) if a Cash Sweep Event is caused solely by the occurrence of a Mercedes-Benz Go Dark Trigger Event and Mercedes-Benz continues to pay full contractual rent during the existence of a Mercedes-Benz Go Dark Trigger Event, then the amount on deposit in the Excess Cash Flow Reserve Fund shall not be required to exceed Excess Cash Flow for a period of twenty-four (24) consecutive calendar months (the “Go Dark Cap”).
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Excess Cash Flow Reserve Fund and the account to which such amounts are held shall hereinafter be referred to as the “Excess Cash Flow Reserve Account”. Notwithstanding the foregoing, (i) in the event of a Cash Sweep Period triggered by the Extension Term, funds in the Excess Cash Flow Reserve Account shall be applied pursuant to Section 2.3.1 herein and (ii) if a Cash Sweep Event is caused solely by the occurrence of a DynCorp Go Dark Trigger Event and DynCorp continues to pay full contractual rent during the existence of a DynCorp Go Dark Trigger Event, then the amount on deposit in the Excess Cash Flow Reserve Fund shall not be required to exceed Excess Cash Flow for a period of twenty-four (24) consecutive calendar months (the “Go Dark Cap”).
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Excess Cash Flow Reserve Fund and the account to which such amounts are held shall hereinafter be referred to as the “Excess Cash Flow Reserve Account.” Notwithstanding the aforementioned or the provisions of any other Loan Document, for Cash Sweep Periods existing solely as a result of a Manager Trigger Event, the aggregate amount of the Excess Cash Flow Reserve Fund shall not exceed on any Payment Date an amount equal to $10.00 per square foot multiplied by the aggregate net rentable area of all Individual Properties being managed by any Manager that is the subject of a Bankruptcy Action (the “Excess Cash Flow Cap”). Accordingly, to the extent any deposit to the Excess Cash Flow Reserve Fund during the existence of a Cash Sweep Period resulting solely from a Manager Trigger Event would result in the aggregate amount of Excess Cash Flow Reserve Funds in the Excess Cash Flow Reserve Account exceeding the then applicable Excess Cash Flow Reserve Cap, such deposit shall be decreased by an amount equal to such excess.
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Related to Excess Cash Flow Reserve Fund

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Excess Cash Flow means, for any period, an amount equal to the excess of:

  • Excess Cashflow With respect to any Distribution Date, an amount, if any, equal to the sum of (a) the Remaining Excess Spread for such Distribution Date and (b) the Overcollateralization Release Amount for such Distribution Date.

  • Excess Cash Flow Payment Date means the date occurring 90 days after the last day of a fiscal year of the Parent (commencing with its fiscal year ending December 31, 2000).

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Excess Cash shall have the meaning set forth in Section 2.7.2(b)(vii) hereof.

  • Excess Cash Flow Payment Period with respect to the prepayment required on each Excess Cash Flow Application Date, the immediately preceding fiscal year of the Borrower.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Available Reserve Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Reserve Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Reserve Account made or to be made with respect to such date) and (b) the Required Reserve Account Amount, in each case on such Transfer Date.

  • Debt Service Reserve Fund Requirement means, with respect to the 2023 Series B Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2023 Series B Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Reserve Fund Required Amount means, (i) for any Payment Date on which the Note Balance is greater than $0, $2,128,635.19 (i.e., 0.25% of the Cutoff Date Adjusted Pool Balance) or (ii) if the Notes have been paid in full, $0; provided, however, that the Reserve Fund Required Amount may not exceed the Note Balance.

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

  • Monthly Excess Cashflow For any Distribution Date, an amount equal to the sum of the Monthly Excess Interest and Overcollateralization Release Amount, if any, for such date.

  • Required Reserve Account Amount means, with respect to any Distribution Date on or after the Reserve Account Funding Date, an amount equal to (1) 0.50% of the Class A Invested Amount as of the preceding Distribution Date (after giving effect to all changes therein on such date) or (2) any other percentage (which may be 0%) of the Class A Invested Amount designated by the Transferors, provided that if such percentage is less than the percentage specified in clause (1) above, the Transferors shall have received the prior written consent of the Collateral Interest Holder and written notice from each Rating Agency that the Rating Agency Condition shall have been satisfied with respect to such designation and shall have delivered copies of each such written notice to the Servicer and the Trustee.

  • Excess Cash Flow Application Date as defined in Section 2.12(c).

  • Excess Cash Flow Percentage 50%; provided that the Excess Cash Flow Percentage shall be reduced to (a) 25% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 3.75 to 1.00 and (b) to 0% if the Consolidated Total Leverage Ratio as of the last day of the relevant fiscal year is not greater than 2.25 to 1.00.

  • Debt Service Reserve Account shall have the meaning given to it in the Depository Agreement.

  • Reserve Account Amount means, for any Distribution Date, the amount on deposit in and available for withdrawal from the Reserve Account on such Distribution Date (after giving effect to all deposits to and withdrawals from the Reserve Account on the preceding Distribution Date, or, in the case of the initial Distribution Date, the Closing Date), including all interest and other income (net of losses and investment expenses) earned on such amount during the preceding Collection Period.

  • FF&E Reserve Account shall have the meaning set forth in Section 7.3 hereof.

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

  • Cumulative Excess Cash Flow means the amount equal to the sum of Excess Cash Flow (but not less than zero for any Fiscal Year) for the Fiscal Year ending on December 31, 2022 and Excess Cash Flow (but not less than zero in any Fiscal Year) for each succeeding and completed Fiscal Year.

  • Net Loss Proceeds means the aggregate cash proceeds received by the Company or any of its Restricted Subsidiaries in respect of any Event of Loss, including, without limitation, insurance proceeds, condemnation awards or damages awarded by any judgment, net of:

  • Retained Excess Cash Flow Amount means, at any date of determination, an amount, determined on a cumulative basis, that is equal to the aggregate cumulative sum of the Excess Cash Flow that is not required to be applied as a mandatory prepayment under Section 2.11(b)(i) for all Excess Cash Flow Periods ending after the Closing Date and prior to such date; provided that such amount shall not be less than zero for any Excess Cash Flow Period.