Mandatory Capital Addition definition

Mandatory Capital Addition shall have the meaning given to such term in the Agreement Regarding Leases.
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Mandatory Capital Addition shall have the meaning given to such term in Paragraph 5.
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Examples of Mandatory Capital Addition in a sentence

  • The provisions of Paragraph 11(d) of the Property Leases shall govern the disbursement of Mandatory Capital Addition Allowances, provided that PSLT-ALS Holdings shall have no obligation to make any Mandatory Capital Addition Allowance pursuant to this Paragraph 5(a), if at the time of a disbursement of any Mandatory Capital Addition Allowance, an Event of Default shall have occurred and is continuing.

  • Notwithstanding the foregoing, if an Event of Default arises under the applicable Property Lease (as defined thereunder) as a result of the failure by ALS Holdings or the applicable Alterra Lessee to make any Mandatory Capital Addition described in clause (i) of the immediately preceding sentence, then PSLT-ALS Holdings and the applicable Provident Lessor shall have all rights and remedies available to such party under this Agreement or the applicable Property Lease, as applicable, to perform such work.

  • BLC Holdings agrees that, in connection with any Mandatory Capital Addition Allowance, BLC Holdings shall, or shall cause the applicable Brookdale Lessee to, provide PSLT-BLC Holdings or the applicable Provident Lessor with the information required to be provided pursuant to Paragraph 11(c) of the Property Leases relating to Landlord Capital Additions.

  • All Mandatory Capital Addition Allowances made by PSLT-ALS Holdings pursuant to this Paragraph 5 shall be added to the Lease Basis under the related Property Lease for the applicable Facility such that the Base Rent under such Property Lease shall be adjusted in accordance with its terms (each such term as defined in the Property Lease).

  • The provisions of Paragraph 11(d) of the Property Leases shall govern the disbursement of Mandatory Capital Addition Allowances, provided that PSLT-BLC Holdings shall have no obligation to make any Mandatory Capital Addition Allowance pursuant to this Paragraph 5(a) if, at the time of a disbursement of any Mandatory Capital Addition Allowance, an Event of Default shall have occurred and is continuing.

  • All Mandatory Capital Addition Allowances made by PSLT-BLC Holdings pursuant to this Paragraph 5 shall be added to the Lease Basis under the related Property Lease for the applicable Facility such that the Base Rent under such Property Lease shall be adjusted in accordance with its terms (each such term as defined in the Property Lease).

  • Notwithstanding the foregoing, if an Event of Default arises under the applicable Property Lease (as defined thereunder) as a result of the failure by BLC Holdings or the applicable Brookdale Lessee to make any Mandatory Capital Addition described in clause (i) of the immediately preceding sentence, then PSLT-BLC Holdings and the applicable Provident Lessor shall have all rights and remedies available to such party under this Agreement or the applicable Property Lease, as applicable, to perform such work.

  • ALS Holdings agrees that, in connection with any Mandatory Capital Addition Allowance, ALS Holdings shall, or shall cause the applicable Alterra Lessee to, provide PSLT-ALS Holdings or the applicable Provident Lessor with the information required to be provided pursuant to Paragraph 11(c) of the Property Leases relating to Landlord Capital Additions.

  • The parties hereto acknowledge and agree that the terms of Paragraph 5 of the Agreement addressing Mandatory Capital Additions and Mandatory Capital Addition Allowances shall not apply to the Westbury Lease or the Westbury Facility and any Capital Additions (and Non-Capital Additions, as defined in the Westbury Lease) made to the Westbury Facility shall be governed by Paragraph 11 of the Westbury Lease (and any other applicable provisions of the Westbury Lease), only.

Related to Mandatory Capital Addition

  • Capital Addition means, with respect to any Property, any renovation, repair or improvement to such Property, the cost of which constitutes a Capital Expenditure.

  • Capital Account Limitation has the meaning provided in Section 4.5(b) hereof.

  • Adjusted Capital Account Deficit means, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant Fiscal Year, after giving effect to the following adjustments:

  • Net Working Capital Adjustment Amount means an amount (which may be a positive or negative number) equal to (a) the Closing Date Net Working Capital minus (b) the Target Net Working Capital.

  • Partially Adjusted Capital Account means, with respect to any Member for any Fiscal Year, the Capital Account balance of such Member at the beginning of such period, adjusted as set forth in the definition of Capital Account for all contributions and distributions during such period and all special allocations pursuant to Section 7.3 with respect to such period but before giving effect to any allocation with respect to such period pursuant to Section 7.2.

  • Target Capital Account means the Capital Account of a Member as of the end of each fiscal year, increased by any amount that such Member is obligated to restore under this Agreement, is treated as obligated to restore under Treasury Regulations Section 1.704-1(b)(2)(ii)(c), or is deemed obligated to restore under the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and (i)(5).

  • Annual Addition The sum of the following amounts allocated on behalf of a Participant for a Limitation Year, of (i) all Employer contributions; (ii) all forfeitures; and (iii) all Employee contributions. Except to the extent provided in Treasury regulations, Annual Additions include excess contributions described in Code Section 401(k), excess aggregate contributions described in Code Section 401(m) and excess deferrals described in Code Section 402(g), irrespective of whether the plan distributes or forfeits such excess amounts. Annual Additions also include Excess Amounts reapplied to reduce Employer contributions under Section 3.10. Amounts allocated after March 31, 1984, to an individual medical account (as defined in Code Section 415(l)(2)) included as part of a defined benefit plan maintained by the Employer are Annual Additions. Furthermore, Annual Additions include contributions paid or accrued after December 31, 1985, for taxable years ending after December 31, 1985, attributable to post-retirement medical benefits allocated to the separate account of a key employee (as defined in Code Section 419A(d)(3)) under a welfare benefit fund (as defined in Code Section 419(e)) maintained by the Employer.

  • Net Working Capital Adjustment means (a) the amount by which Net Working Capital as of immediately prior to the Closing exceeds Target Net Working Capital or (b) the amount by which Net Working Capital as of immediately prior to the Closing is less than Target Net Working Capital, in each case, if applicable; provided, that any amount which is calculated pursuant to clause (b) above shall be deemed to be a negative number.

  • Adjusted Capital Account means the Capital Account maintained for each Partner as of the end of each Fiscal Year (i) increased by any amounts which such Partner is obligated to restore pursuant to any provision of this Agreement or is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) and (ii) decreased by the items described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5) and 1.704-1(b)(2)(ii)(d)(6). The foregoing definition of Adjusted Capital Account is intended to comply with the provisions of Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

  • Excess Additional Book Basis has the meaning given such term in the definition of “Additional Book Basis Derivative Items.”

  • Working Capital Adjustment Amount means an amount, which may be positive or negative, calculated in accordance with Schedule C, equal to the difference of (a) the Closing Date Adjusted Working Capital minus (b) the Preliminary Adjusted Working Capital.

  • Adjusted Capital Account Balance means, with respect to each Partner, the balance in such Partner’s Capital Account adjusted (i) by taking into account the adjustments, allocations and distributions described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6); and (ii) by adding to such balance such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, determined pursuant to Treasury Regulations Sections 1.704-2(g) and 1.704-2(i)(5), any amounts such Partner is obligated to restore pursuant to any provision of this Agreement or by applicable Law. The foregoing definition of Adjusted Capital Account Balance is intended to comply with the provisions of Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

  • Net Working Capital Amount means, with respect to a Participating McNeil Partnership, the excess of the Positive Excess Cash Balance of such Participating McNeil Partnership over the cash on hand of such Participating McNeil Partnership immediately prior to the Effective Time.

  • Required Allocations means (a) any limitation imposed on any allocation of Net Losses or Net Termination Losses under Section 6.1(b) or 6.1(c)(ii) and (b) any allocation of an item of income, gain, loss or deduction pursuant to Section 6.1(d)(i), 6.1(d)(ii), 6.1(d)(iv), 6.1(d)(vii) or 6.1(d)(ix).

  • Annual Additions means the sum credited to a Participant's Accounts for any Limitation Year of (a) "employer" contributions, (b) Employee contributions (except as provided below), (c) Forfeitures, (d) amounts allocated to an individual medical benefit account, as defined in Code §415(l)(2), which is part of a pension or annuity plan maintained by the "employer," (e) amounts derived from contributions paid or accrued which are attributable to post-retirement medical benefits allocated to the separate account of a key employee (as defined in Code §419A(d)(3)) under a welfare benefit fund (as defined in Code §419(e)) maintained by the "employer" and (f) allocations under a simplified employee pension. Except, however, the Compensation percentage limitation referred to in paragraph (e)(5)(ii) below shall not apply to: (1) any contribution for medical benefits (within the meaning of Code §419A(f)(2)) after separation from service which is otherwise treated as an "annual addition," or (2) any amount otherwise treated as an "annual addition" under Code §415(l)(1).

  • Consolidated Working Capital Adjustment means, for any period of determination on a consolidated basis, the amount (which may be a negative number) by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated Working Capital as of the end of such period.

  • Book Capital Account means, for any Holder at any time, the Book Capital Account of the Holder for such day, determined in accordance with Section 8.1 hereof.

  • Target Net Working Capital Amount means $5,000,000.

  • Capital Account means, with respect to any Partner, the Capital Account maintained for such Partner in accordance with the following provisions:

  • Working Capital Adjustment has the meaning set forth in Section 2.5(a).

  • Deactivation Avoidable Cost Credit means the credit paid to Generation Owners pursuant to Tariff, Part V, section 114.

  • Capital Accounts An individual capital account shall be maintained for each Partner, and capital contributions to the Partnership by the Partners shall be credited to such accounts. Partnership profits or losses shall also be charged or credited to the separate capital accounts in the manner provided in this Agreement. No interest shall be paid on the capital account of any Partner.

  • Target Working Capital Amount means $75,000,000.

  • Working Capital Amount means the difference between (x) the total current assets of the Company and its Subsidiaries and (y) the total current liabilities (other than the New Company Debt, the Existing Company Debt and Deal Expenses) of the Company and its Subsidiaries (in each case calculated in accordance with GAAP immediately prior to the Effective Time and after giving effect to the Contribution, the Distribution and the disposition of cash and cash equivalents contemplated by Section 6.24).

  • Class B Adjusted Invested Amount means, with respect to any date of determination, an amount equal to the Class B Invested Amount less the positive difference, if any, between the Principal Funding Account Balance and the Class A Invested Amount on such date.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).