Leasing Budget definition

Leasing Budget means First Mortgage Borrower’s $146,720,081 budget of Leasing Commissions and TI Costs for the Renovation of the Mortgaged Property (of which $84,724,348 remains to be completed, subject to confirmation by Construction Consultant), in the form approved by the Lender on the Closing Date, together with such amendments to such budget as may be approved by the Lender in accordance with this Agreement.
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Leasing Budget is defined in subsection 3.6(d).
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Leasing Budget means Borrower’s $109,000,000 budget of Leasing Commissions and TI Costs for the Renovation of the Mortgaged Property in the form approved by Mezzanine Lender on the Closing Date, together with such amendments to such budget as may be approved by Mezzanine Lender in accordance with the Mezzanine Loan Agreement.
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Examples of Leasing Budget in a sentence

  • The provisions as per Section 5.1(aa) of this Agreement will govern for proposed amendments to the Leasing Budget and Capital Budget, respectively.

  • Notwithstanding the foregoing, Lender acknowledges that, as of the Closing Date, the Leasing Budget and Capital Budget are preliminary estimates made by Borrower and Borrower’s consultants.

  • Borrower has no knowledge of any circumstances existing or likely to occur that might result in a material change in the Capital Budget or the Leasing Budget.

  • Neither the Capital Budget, the Leasing Budget nor the Construction Documents shall have been amended or modified without the prior written consent of Lender.

  • Lender’s approval of any modifications to the Leasing Budget will be based upon the TI Costs required under new Leases approved by Lender in accordance with Section 5.1(s), and the leasing commissions incurred in connection with such new Leases.

  • Amend, modify or otherwise change the Capital Budget or Leasing Budget, except in accordance with the procedures set forth in Section 5.1(aa).

  • The Capital Budget and the Leasing Budget are, in the absence of unusual or extraordinary conditions, adequate for the Renovation and the lease-up of the Mortgaged Property.

  • In the event Borrower desires to amend, modify or otherwise change the Capital Budget or Leasing Budget, a request for approval of any change shall be submitted to the Lender as part of a certified revised Capital Budget or Leasing Budget signed by Borrower and the Guarantor, and, where applicable, the Architects, General Contractors and any sureties.

  • Except for line item reallocations permitted under Section 5.1(aa), cost savings shall be reallocated to reduce the Capital Budget and the Leasing Budget Project Costs.

  • Lender shall have received the Capital Budget and the Leasing Budget which shall have been approved by Junior Mezzanine Lender.


More Definitions of Leasing Budget

Leasing Budget means a leasing budget approved by Administrative Agent. Such budget may be adjusted annually to reflect changes in the leasing status of the Mortgaged Properties or the release of Mortgaged Properties, as approved by Administrative Agent
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Leasing Budget is defined in Section 6.1.2. -------
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Related to Leasing Budget

  • Operating Budget has the meaning given in Section 3.11(a).

  • CapEx Budget means the annual budget covering the planned Capital Expenditures for the period covered by such budget. The CapEx Budget shall not include Discretionary Capital Expenditures.

  • Annual Operating Budget has the meaning set forth in Section 4.11.

  • Annual Budget means the operating budget, including all planned capital expenditures, for the Property prepared by Borrower for the applicable Fiscal Year or other period.

  • Budget means a resource, expressed in financial terms, proposed by the Board for the purpose of carrying out, for a specific period, any or all of the functions of the Trust.

  • Capital Expenditure Budget shall constitute an estimate for the applicable period of the capital expenditures required to (i) accomplish capital enhancement projects included in the most recently approved Strategic Plan, (ii) maintain and preserve the Partnership's assets in good operating condition and repair and (iii) achieve or maintain compliance with any HSE Law.

  • Project Budget means the budget and project description included in the grant application. The Project Budget must succinctly describe all major elements of project work, the estimated cost of each, and clearly allocate requested grant funding and match contributions to each.

  • Initial Budget has the meaning set forth in Section 7.06(a).

  • Approved Project Budget means the most recent statement, approved by the FTA, of the costs of the Project, the maximum amount of Federal assistance for which the TJPA is currently eligible, the specific tasks (including specified contingencies) covered, and the estimated cost of each task.

  • BASE budget means the minimum general fund budget of a district, which includes 80% of the basic

  • Capital Budget has the meaning given in Section 3.11(a).

  • Approved Budget means an annual budget-

  • 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.

  • Development Budget shall have the meaning set forth in Section 3.3.

  • Business Plan means the information required to be supplied to the

  • Operating Plan means a plan adopted or amended under this section for the development, redevelopment, maintenance, operation and promotion of a business improvement district, including all of the following:

  • Annual Work Plan and Budget means the work plan and budget approved by the Bank and adopted by the Borrower in accordance with the provisions of Section I.C of Schedule 2 of this Agreement, as said work plan and budget may be modified from time to time with the written agreement of the Bank.

  • Urban renewal project means undertakings and activities of a municipality in an urban renewal area for the elimination and for the prevention of the development or spread of slums and blight, and may involve slum clearance and redevelopment in an urban renewal area, or rehabilitation or conservation in an urban renewal area, or any combination or part of them in accordance with an urban renewal plan. These undertakings and activities may include:

  • Approved Annual Budget shall have the meaning set forth in Section 5.1.11(d) hereof.

  • Expansion Capital Expenditures means cash expenditures for Acquisitions or Capital Improvements. Expansion Capital Expenditures shall include interest (including periodic net payments under related interest rate swap agreements) and related fees paid during the Construction Period on Construction Debt. Where cash expenditures are made in part for Expansion Capital Expenditures and in part for other purposes, the General Partner shall determine the allocation between the amounts paid for each.

  • Approved Project means the Scheme application of the Applicant approved by the CIC.

  • Approved Operating Expenses operating expenses incurred by Borrower which (i) are included in the Approved Operating Budget for the current calendar month, (ii) are for real estate taxes, insurance premiums, electric, gas, oil, water, sewer or other utility service to the Property or (iii) have been approved by Lender, such approval not to be unreasonably withheld, conditioned or delayed.

  • Capital Expenditure means expenditure on:

  • Existing Project is a Project that has achieved Commercial Operation on or prior to the Execution Date.

  • Annual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series’ assets with respect to the Class for the period involved: (i) investment advisory fees, if any; (ii) Rule 12b-1 distribution fees, if any; and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees’ fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series’ statement of operations in accordance with generally accepted accounting principles. Notwithstanding the provisions of the immediately preceding sentence, the Series’ “Annual Operating Expenses” for the Class do not include “acquired fund expenses”, interest and dividends on securities sold short, amortization of organization expenses, taxes, brokerage commissions, litigation and indemnification expenses or any costs or expenses of or for the Series with respect to the Class that are “extraordinary” as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). Very truly yours, ROYCE & ASSOCIATES, LP By: /s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx Chief Financial Officer ACCEPTED: THE ROYCE FUND By: /s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx Treasurer ROYCE & ASSOCIATES, LP 000 XXXXX XXXXXX XXX XXXX, XX 00000 January 1, 2019 The Royce Fund 000 Xxxxx Xxxxxx Xxx Xxxx, XX 00000 Re: Fee Waiver and Expense Reimbursement – Royce Small/Mid-Cap Premier Fund (formerly Royce Heritage Fund) (Consultant Class) Gentlemen: Reference is made to the Amended and Restated Investment Advisory Agreement dated July 1, 2017 (the “Agreement”) by and between The Royce Fund (the “Fund”), on behalf of Royce Heritage Fund (now Royce Small/Mid-Cap Premier Fund) (the “Series”), and Royce & Associates, LP (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services provided by it under the Agreement for the period beginning January 1, 2019 and ending December 31, 2019 (the “Period”), and/or agrees to reimburse expenses relating to the Period to the Series with respect to the Class in an amount, if any, necessary so that the Series’ “Annual Operating Expenses” for its Consultant Class of shares (the “Class”) are not more than 2.09% of the Class’ average net assets for the Period. The Adviser’s obligations to reimburse the Series with respect to the Class hereunder will not apply for any period when the Adviser is not rendering services to such Series under the Agreement.