Maximum Recourse Amount shall have the meaning assigned thereto in Section 19(k);
Maximum Recourse Amount means, as of any date of determination, an amount equal to 86.2713% of the Property Cost outstanding at such time.
Maximum Recourse Amount means an aggregate amount equal to ten percent (10%) of the Purchase Price of all Purchased Assets subject to outstanding Transactions under this Agreement as of the occurrence of an Event of Default or Early Termination Date, as applicable, minus the aggregate amount of all Margin Calls with respect to such Transactions that has previously been paid by Sellers and Guarantor; provided, however, that the Maximum Recourse Amount will be equal to the amount of any actual deficiency (only if such deficiency is greater than the Maximum Recourse Amount determined above) to the extent resulting from: (A) failure of any representation and warranties set forth in this Agreement to be materially true and correct with regard to a particular Purchased Asset on the initial Purchase Date for such Purchased Asset; (B) Seller’s failure to notify Buyer, on or prior to any Purchase Date, of any failure of any representation and warranty set forth in this Agreement hereto to be materially true and correct, to the extent such failure of such representation and warranty to continue to be materially true and correct is actually known to Seller; or (C) Buyer’s failure to receive an interest in the Purchased Assets as contemplated by this Agreement upon payment by Buyer of the Purchase Price for such Purchased Assets.
Examples of Maximum Recourse Amount in a sentence
The percentage applicable to the calculation of the Maximum Recourse Amount for the Subject Property is set forth on Schedule III to the Participation Agreement.
The percentage applicable to the calculation of the Maximum Recourse Amount for the Subject Property is set forth on Schedule II hereto.
In accordance with Section 20.2(f) of the Master Lease upon the exercise of the Remarketing Option, the payment of the Maximum Recourse Amount to the Administrative Agent shall be distributed to the Lenders.
If the Gross Remarketing Proceeds from such sale (if any) of a Property exceeds the sum of (i) the aggregate Property Balance for such Property being sold as of such date minus the Maximum Recourse Amount, and other amounts paid to Administrative Agent pursuant to clause (f) above for such Property plus (ii) all Permitted Sales Costs with respect to such Property, then the excess shall be paid to the Lessee on the Expiration Date.
The payment of the Maximum Recourse Amount to the Administrative Agent pursuant to Section 20.2(f) of the Master Lease upon the exercise of the Remarketing Option shall be distributed to the Lenders holding Series A Notes for application to the outstanding principal amount of the Series A Notes.
More Definitions of Maximum Recourse Amount
Maximum Recourse Amount means, at any time, an amount equal to 91.38% of the Aggregate Commitment Amount at such time. 3.
Maximum Recourse Amount means, with respect to any Property, the Property Cost of such Property multiplied by the percentage set forth in the Lease Supplement for such Property.
Maximum Recourse Amount means, with respect to each Property, 70.86% of the Property Cost of such Property.
Maximum Recourse Amount means, as of any date of determination, an aggregate amount equal to the greater of (i) $5,000,000 and (ii) ten percent (10%) of the Purchase Price of all Purchased Assets subject to outstanding Transactions under this Agreement as of such date of determination, in each case minus the aggregate amount of all Margin Calls with respect to such Transactions that has been paid by Sellers and Guarantor prior to such date of determination but after the most recent Purchase Date determined pursuant to Section 3(c); provided, however, that the Maximum Recourse Amount will be increased by the amount of any deficiency up to 100% of the sum (x) of the Purchase Price of all Purchased Assets subject to outstanding Transactions under this Agreement as of such date of determination; and (y) all other Obligations owed to Buyer under this Agreement and the other Program Documents, in each case, to the extent resulting from: (A) failure of the representation and warranty set forth in Section 12(r) to be true and correct in all material respects; (B) Seller’s failure to notify Buyer, on or prior to any Purchase Date, of any failure of any representation and warranty set forth in this Agreement hereto to be true and correct in all material respects, to the extent such failure of such representation and warranty to continue to be materially true and correct is actually known to Seller; (C) the voluntary bankruptcy, voluntary insolvency, voluntary liquidation or similar voluntary proceeding of any Seller, Guarantor or any of any Seller’s or Guarantor’s Subsidiaries or Affiliates; (D) fraud, or misappropriation of funds by any Seller, Guarantor or any of any Seller’s or Guarantor’s Subsidiaries or Affiliates or any of their respective officers or directors; (E) any Material Adverse Effect or material adverse effect on the property or financial condition of any Seller, Guarantor or any of any Seller’s or Guarantor’s Subsidiaries or Affiliates or its ability to perform under this Agreement, any other Program Document or Guaranty, in each case arising out of the fraud, gross negligence or willful misconduct of any Seller, Guarantor or any of any Seller’s or Guarantor’s Subsidiaries or Affiliates or any of their respective officers or directors; or (F) any Material Adverse Effect arising out of or relating to the unenforceability of or restriction on any pledge or assignment contemplated by this Agreement or any other Program Document (clauses (A) through (F) above, “Bad Acts”), in ...
Maximum Recourse Amount means, as of any date of determination, the greater of (i) the Quarterly Threshold Amount in effect as of such date, and (ii) (x) the aggregate Principal Balance of the Loans outstanding hereunder on such date minus (y) the applicable Non-Guaranteed Amount as of such date.
Maximum Recourse Amount means the maximum Rent payment that can be made on the Expiration Date under the Master Lease without causing the Master Lease to be treated as a Capital Lease for the purposes of SFAS No. 13 which Maximum Recourse Amount shall be the sum of (i) the Land Lease Balance and (ii) the highest portion of the Improvement Lease Balance that can be included in the calculation pursuant to Paragraph 7(d) of SFAS No. 13; provided, however, that -------- ------- with respect to clause (ii) hereof, in no event shall the amount be less than the Improvement Loan Balance.
Maximum Recourse Amount means, with respect to any Property (or, in the case of Property Xx. 0, Xxxxxxxx Xx. 0 and Property No. 4, the respective Land or Improvements related thereto), the Property Cost of such Property (or, in the case of Property Xx. 0, Xxxxxxxx Xx. 0 and Property No. 4, the respective Land or Improvements related thereto) multiplied by the percentage set forth in Schedule III to the Participation Agreement.