Maximum Reimbursement Obligation definition

Maximum Reimbursement Obligation means the lowest and earliest reached of the following: (i) the total amount of Pledged Revenues paid to the Developer during the Term, or (ii) the amount set forth in Section 9.B. The Maximum Reimbursement Obligation shall be reduced by the Eligible Costs for certain Eligible Improvements if one or more of the requirements in Section 8(d), (e), or (f) are not met.
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Maximum Reimbursement Obligation means the lowest and earliest reached of the following: (i) the total amount of Pledged Revenues paid to the Developer during the Term, or (ii) the amount set forth in Section 9.B.
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Maximum Reimbursement Obligation means $4,000,000.
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Examples of Maximum Reimbursement Obligation in a sentence

  • Unless earlier terminated by mutual agreement of the Parties or as a result of remedies properly exercised by a non-defaulting Party as set forth in Section 19 above, except as otherwise provided, this Agreement shall automatically terminate on the earlier of: (a) as of the date of LURA’s final payment to the Developer of the Maximum Reimbursement Obligation; or (b) expiration of the Duration.

  • After expiration of the Term, this Agreement will be deemed terminated and of no further force and effect; provided, however, such termination will not affect any obligation of any Party which arises under this Agreement during the Term but is not fully performed as of the end of the Term, including payment to the Developer of the Maximum Reimbursement Obligation for reimbursement of Eligible Costs from Pledged Revenues.

  • If this process is not followed, the UST removal and disposal will not be an Eligible Cost and the Maximum Reimbursement Obligation shall be accordingly reduced.

  • If this process is not used, the mural will not be an Eligible Cost and the Maximum Reimbursement Obligation shall be accordingly reduced.

  • While the costs for individual line items may increase or decrease, and Developer may allocate cost savings in the line items listed in Exhibit A to any cost overruns in any other line item, in no event will the total Reimbursement Obligation exceed the Maximum Reimbursement Obligation.

  • LURA’s Reimbursement Obligation to the Developer for Eligible Costs is a multiple-fiscal year obligation of XXXX payable only from Pledged Revenues and shall not exceed the Maximum Reimbursement Obligation.

  • Subject to the provisions of this Agreement, XXXX shall reimburse the Developer for Eligible Costs up to the Maximum Reimbursement Obligation, in accordance with Section 8, from the Pledged Revenues.

  • Unless earlier terminated as expressly provided for in this Agreement, the term of this Agreement (the “Term”) shall commence on the Effective Date and will continue until the earlier of: (a) the Maximum Reimbursement Obligation is paid; or (b) expiration of the Duration.

  • XXXX and the Developer agree that the Maximum Reimbursement Obligation will not exceed the amount of THREE MILLION EIGHT HUNDRED AND THIRTY-EIGHT THOUSAND AND NO/100 ($3,838,000.00).

  • Such Reimbursement Obligations shall mature on a date or dates, subject to the limitation set forth in the Maximum Reimbursement Obligation Repayment Term defined herein, and bear interest at a market rate, to be determined at the time of issuance of such Reimbursement Obligations.


More Definitions of Maximum Reimbursement Obligation

Maximum Reimbursement Obligation means the lowest and earliest reached of any of the following: (i) $6,500,000.00 in Eligible Costs; or (ii) the total amount of Pledged Revenues collected, deposited, and accumulated in the Special Account during the Term.
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Maximum Reimbursement Obligation means the maximum loan amount for which a Reimbursor is responsible, and as to each Loan is set forth on Exhibit A.
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Related to Maximum Reimbursement Obligation

  • L/C Reimbursement Obligation means, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof, as and when matured, to pay all amounts drawn under such Letter of Credit.

  • Reimbursement Obligation the obligation of the Borrower to reimburse the Issuing Lender pursuant to Section 3.5 for amounts drawn under Letters of Credit.

  • Reimbursement Obligations means at any time, the aggregate of the Obligations of the Borrower to the Lenders, the Issuing Bank and the Administrative Agent in respect of all unreimbursed payments or disbursements made by the Lenders, the Issuing Bank and the Administrative Agent under or in respect of the Facility Letters of Credit.

  • L/C Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

  • L/C Obligation means, as at any date of determination, the aggregate maximum amount then available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts in respect of Letters of Credit, including all L/C Borrowings.

  • Credit Obligations means all principal, interest, fees, reimbursements, indemnifications, and other amounts now or hereafter owed by the Borrower to the Agent and the Banks (or with respect to the Interest Hedge Agreements, any Affiliates of the Banks) under this Agreement, the Revolving Loan Notes, the Swing Line Note, the Letter of Credit Documents, and the other Credit Documents and any increases, extensions, and rearrangements of those obligations under any amendments, supplements, and other modifications of the documents and agreements creating those obligations.

  • Net Obligation means the amount owed to PJMSettlement and PJM for purchases from the PJM Markets, Transmission Service, (under Tariff, Parts II and III , and other services pursuant to the Agreements, after applying a deduction for amounts owed to a Participant by PJMSettlement as it pertains to monthly market activity and services. Should other markets be formed such that Participants may incur future Obligations in those markets, then the aggregate amount of those Obligations will also be added to the Net Obligation.

  • Credit Agreement Obligations means the “Obligations” as defined in the Credit Agreement.

  • Advance Reimbursement Amounts As defined in Section 3.29 hereof.

  • Reimbursement Amounts As defined in Section 3.22.

  • Workout-Delayed Reimbursement Amounts With respect to any Mortgage Loan or Serviced Loan Combination, the amount of any Advance made with respect to such Mortgage Loan or Serviced Loan Combination on or before the date such Mortgage Loan or Serviced Loan Combination becomes (or, but for the making of three monthly payments under its modified terms, would then constitute) a Corrected Loan, together with (to the extent accrued and unpaid) interest on such Advances, to the extent that (i) such Advance is not reimbursed to the Person who made such Advance on or before the date, if any, on which such Mortgage Loan or Serviced Loan Combination becomes a Corrected Loan and (ii) the amount of such Advance becomes a future obligation of the Mortgagor to pay under the terms of modified Loan Documents. That any amount constitutes all or a portion of any Workout-Delayed Reimbursement Amount shall not in any manner limit the right of any Person hereunder to determine in the future that such amount instead constitutes a Nonrecoverable Advance.

  • Advance Reimbursement Amount has the meaning stated in Section 4.4(b) of the Servicing Supplement.

  • Reimbursement Amount As defined in Section 2.04.

  • Refunded Obligations means, collectively, the Refunded Notes, if any, and the Refunded Bonds, if any, refunded by each Series.

  • Liquidity Obligations means all principal, interest, fees and other amounts owing to the Liquidity Providers under the Liquidity Facilities, Section 8.1 of the Participation Agreements or the Fee Letters.

  • Discount Obligation Any Collateral Obligation forming part of the Assets which was purchased (as determined without averaging prices of purchases on different dates) for less than (a) 85.0% of its Principal Balance, if such Collateral Obligation has an S&P Rating lower than “B-” or (b) 80.0% of its Principal Balance, if such Collateral Obligation has an S&P Rating of “B-” or higher; provided that such Collateral Obligation shall cease to be a Discount Obligation at such time as the Market Value (expressed as a percentage of the par amount of such Collateral Obligation) determined for such Collateral Obligation on each day during any period of 30 consecutive days since the acquisition by the Issuer of such Collateral Obligation, equals or exceeds 90.0% on each such day.

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • Workout-Delayed Reimbursement Amount As defined in subsection (II)(i) of Section 3.05(a).

  • Aggregate Current Bankruptcy Losses With respect to any Distribution Date, the sum of all Bankruptcy Losses incurred on any of the Mortgage Loans in the month preceding the month of such Distribution Date.

  • Rate Management Obligations of a Person means any and all obligations of such Person, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor), under (i) any and all Rate Management Transactions, and (ii) any and all cancellations, buy backs, reversals, terminations or assignments of any Rate Management Transactions.

  • Investment Obligations means and include, except as otherwise provided in the Supplemental Indenture providing for the authorization of Bonds, any of the following securities, if and to the extent that such securities are legal investments for funds of the Issuer;

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Drawing Fee means, with respect to each Draft drawn by TCCI and purchased by any Person on any Drawing Date and subject to the provisions of Section 2.15, an amount equal to the product of (i) the Applicable Rate times the aggregate Face Amount of the Draft, multiplied by (ii) a fraction the numerator of which is the number of days in the term to maturity of such Draft and the denominator of which is 365 or 366, as applicable.

  • Maximum Undrawn Amount means with respect to any outstanding Letter of Credit, the amount of such Letter of Credit that is or may become available to be drawn, including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Maximum Drawing Amount means at the time in question the sum of the maximum amounts which LC Issuer might then or thereafter be called upon to advance under all Letters of Credit which are then outstanding.

  • Trust Reimbursement Amount As defined in Section 3.06A(a) of this Agreement.