Excess Property Income definition

Excess Property Income means the amounts available in the Central Account during any Operative Period, any DSCR Restricted Period or any Franchise Restricted Period after the allocations under clauses (a) through (e), inclusive, of Section 2.7.3 have been made.
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Excess Property Income means, on any Payment Date after payment of (i) the current Debt Service Payment (including the Balloon Payment), if any, and (ii) any other Indebtedness of Owner then due and payable, the remaining amount, if any, available in the Central Account on such Payment Date, excluding any amounts then held in any subaccount of the Central Account.
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Excess Property Income shall have the meaning set forth in SECTION 2.05(C) hereof.
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Examples of Excess Property Income in a sentence

  • After the occurrence, and during the continuance of an Event of Default, Excess Property Income held in the Central Account which would otherwise be distributable to Owner shall be distributed in accordance with the provisions of Section 2.19(e) below.

  • After the occurrence of any of the events specified in clauses (i), (ii) or (iii) above and the application of Excess Property Income as set forth therein, the balance, if any, of any such Excess Property Income shall be distributed to Owner.

  • If at the time of receipt by Lender of any amounts in the Central Account, there shall have occurred and be continuing an Event of Default, then Lender shall retain any Excess Property Income in the Central Account and.

  • At present, there does not seem a way of legally ensuring this, without either a) finding a framework without Gazprom on it or b) central government taking regulatory or legislative action to prevent Gazprom from trading.

  • Disbursement of Funds in Basic Sub-Accounts; Excess Property Income ......................................

  • Agent shall not deliver a further notice to the Mezzanine Mortgagee and the Account Depository Bank pursuant to the Instruction Letter demanding that all Excess Property Income be paid to Agent until the occurrence of an Event of Default.

  • During any Curtailment Period, on each and every Payment Date until the date on which all secured indebtedness has been paid in full, Mortgagee shall allocate all Excess Property Income to the Curtailment Reserve Sub-Account in accordance with SECTION 2.05(A)(II).

  • By execution hereof, Property Owner, Manager and Member acknowledge and agree that neither Property Owner, Manager, Member nor any other Person has any right, title or interest in and to any amounts now or hereafter deposited in the Property Owner's Subaccount or any other Excess Property Income or any interest earned thereon and that all such amounts are the property of the Borrower, subject to the security interests in favor of the Agent hereunder.

  • Subject to the terms of this Agreement and the Assignment of Interests, Borrower shall further cause the Property Owner or any manager of the Mezzanine Property to pay to the Agent any and all Excess Property Income or any other amounts which are required pursuant to the Mezzanine Mortgage Loan Documents to be disbursed to the Property Owner or the manager of the Mezzanine Property in the event that such amounts are disbursed to such Person.

  • The Borrower shall cause the Property Owner to take all actions as are necessary to cause the prompt distribution to Agent of all Excess Property Income to Agent as provided in the Cash Collateral Agreement.


More Definitions of Excess Property Income

Excess Property Income means the amounts available in the Central Account in any Current Month after the allocation under clause (i) of subsection (a) above has been made.
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Excess Property Income. All funds or other amounts from time to time deposited in or credited to the Property Owner's Subaccount or are otherwise distributed, paid or released to Property Owner pursuant to the Mezzanine Mortgage Loan Documents.
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Excess Property Income. As defined in the Cash Collateral Agreement.
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Related to Excess Property Income

  • Property Income means cash rents (excluding non-cash straight-line rent) and other cash revenues received by the Borrower or a Guarantor in the ordinary course for any Property, but excluding security deposits and prepaid rent except to the extent applied in satisfaction of tenants’ obligations for rent.

  • Real Property Tax As used herein, the term "real property tax" shall include any form of real estate tax or assessment, general, special, ordinary or extraordinary, and any license fee, commercial rental tax, improvement bond or bonds, levy or tax (other than inheritance, personal income or estate taxes) imposed on the Premises by any authority having the direct or indirect power to tax, including any city, state or federal government, or any school, agricultural, sanitary, fire, street, drainage or other improvement district thereof, as against any legal or equitable interest of Lessor in the Premises or in the real property of which the Premises are a part, as against Lessor's right to rent or other income therefrom, and as against Lessor's business of leasing the Premises. The term "real property tax" shall also include any tax, fee, levy, assessment or charge (i) in substitution of, partially or totally, any tax, fee, levy, assessment or charge hereinabove included within the definition of "real property tax," or (ii) the nature of which was hereinbefore included within the definition of "real property tax," or (iii) which is imposed for a service or right not charged prior to June 1, 1978, or, if previously charged, has been increased since June 1, 1978, or (iv) which is imposed as a result of a transfer, either partial or total, of Lessor's interest in the Premises or which is added to a tax or charge hereinbefore included within the definition of real property tax by reason of such transfer, or (v) which is imposed by reason of this transaction, any modifications or changes hereto, or any transfers hereof.

  • Released Mortgaged Property Proceeds As to any Mortgage Loan, proceeds received by the Servicer in connection with (a) a taking of an entire Mortgaged Property by exercise of the power of eminent domain or condemnation or (b) any release of part of the Mortgaged Property from the lien of the related Mortgage, whether by partial condemnation, sale or otherwise, which are not released to the Mortgagor in accordance with applicable law and mortgage servicing standards the Servicer would use in servicing mortgage loans for its own account and this Agreement.

  • Incremental property taxes means the taxes as provided in Iowa Code sections 403.19 and 260E.4. “Industry” means a business engaged in interstate or intrastate commerce for the purpose of manufacturing, processing, or assembling products, conducting research and development, or providing services in interstate commerce, but excludes retail, health, or professional services. An industry is a business engaged in activities described as eligible in the Act rather than the generic definition encompassing all businesses in the state doing the same activities. An industry is considered to be a single, corporate entity or operating subdivision. An industry which closes or substantially reduces its operation in one area of the state of Iowa and relocates substantially the same operation in another area of the state is not eligible for a project. This definition does not prohibit a business from expanding its operations in another area of the state provided that existing operations of a similar nature are not

  • Personal Property Taxes All personal property taxes imposed on the furniture, furnishings or other items of personal property located on, and used in connection with, the operation of the Leased Improvements as a hotel (other than Inventory and other personal property owned by Lessee), together with all replacement, modifications, alterations and additions thereto.

  • Property Loss Event means any loss of or damage to property of Group or any Subsidiary thereof that results in the receipt by such Person of proceeds of insurance in excess of $2,000,000 or any taking of property of Group or any Subsidiary thereof that results in the receipt by such Person of a compensation payment in respect thereof in excess of $2,000,000.

  • Property Tax means the general property tax due and paid as set

  • Real Property Taxes shall also include any tax, fee, levy, assessment or charge, or any increase therein, imposed by reason of events occurring during the term of this Lease, including but not limited to, a change in the ownership of the Premises.

  • Retained Excess Cash Flow means, at any date of determination, an amount, equal to the aggregate cumulative sum of the Retained Percentage of Excess Cash Flow for the Excess Cash Flow Periods ended on or prior to such date.

  • Income Property means, in respect of each Sub-Fund, (a) all interest, dividends and other sums deemed by the Trustee, (after consulting the auditors either on a general or case by case basis), to be in the nature of income (including taxation repayments, if any) received or receivable by the Trustee in respect of the Deposited Property of the relevant Sub-Fund (whether in cash or, without limitation, by warrant, cheque, money, credit or otherwise or the proceeds of sale or transfer of any Income Property received in a form other than cash); (b) all interest and other sums received or receivable by the Trustee in respect of (a), (c) or (d) of this definition; (c) all cash payments received or receivable by the Trustee for the account of the relevant Sub-Fund in respect of an Application; and (d) all Cancellation Compensation received by the Trustee for the account of the relevant Sub-Fund; (e) any payments to be received or are receivable by the Trustee under any contractual agreements in the nature of investments for the benefit of the relevant Sub-Fund but excluding (i) the Deposited Property; (ii) any amount for the time being standing to the credit of the distribution account for the account of the relevant Sub-Fund or previously distributed to Unitholders; (iii) gains for the account of the relevant Sub-Fund arising from the realisation of Securities; and (iv) any sums applied towards payment of the fees, costs and expenses payable by the Trust from the Income Property of the relevant Sub-Fund;

  • Property Taxes means all real property Taxes, personal property Taxes and similar ad valorem Taxes.

  • Property tax increment means the amount obtained by:

  • Company Leased Real Property has the meaning set forth in Section 3.14(b).

  • Property Value means the fair market value of the real property, as remediated, less

  • Material Leased Real Property has the meaning set forth in Section 2.14.

  • 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.

  • Tax Expense means, for any period, the tax expense (including federal, state, provincial, local, foreign, franchise, excise and foreign withholding taxes) of the Loan Parties and their Subsidiaries, including any penalties and interest relating to any tax examinations for such period, determined on a consolidated basis in accordance with GAAP.

  • Leased Real Property has the meaning set forth in Section 3.18(b).

  • Mortgaged Real Property means (a) each Real Property identified on Schedule 1.01(a) hereto and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Original Closing Date pursuant to Section 5.11(d) or pursuant to Section 5.11(d) of the Original Credit Agreement or the Prior Credit Agreement.

  • Nonrecoverable Property Protection Advance shall have the meaning assigned to the term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Release Property has the meaning set forth in Section 2.5.

  • Nonrecoverable Property Advance shall have the meaning assigned thereto in the Outside Servicing Agreement.

  • Monthly Excess Interest As to any Distribution Date, the sum of (A) the Interest Remittance Amount remaining after the application of payments pursuant to clauses A. through D. of Section 4.02(b)(i) plus (B) the Principal Payment Amount remaining after the application of payments pursuant to clauses A. through E. of Section 4.02(b)(ii) or (iii).

  • Income Tax Expense means, with respect to the Borrowers, for any period, the aggregate, without duplication, of all Taxes on the income of such Person for such period, whether current or deferred, determined on a Modified Consolidated Basis.

  • Credit property insurance means insurance:

  • Qualifying Property means a primary residence that a qualified applicant owned and occupied