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.

  • 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.

  • 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.

  • 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.

  • 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).

  • 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.

  • 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.

  • 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.


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

  • 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 all obligations of the Borrower then outstanding under Section 2.18 to reimburse the LC Issuers for amounts paid by the LC Issuers in respect of any one or more drawings under Facility LCs.

  • 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.

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

  • Discount Obligation means in the case of any Collateral Debt Obligation acquired by, or on behalf of, the Issuer for a purchase price (excluding accrued interest thereon) of less than 85 per cent. of the principal amount of such Collateral Debt Obligation, provided that such Collateral Debt Obligation shall cease to be a Discount Obligation where the Market Value (excluding for the purposes of this definition, any market valuation given by the Collateral Manager) thereof for a period of 22 consecutive Business Days equals or exceeds 90 per cent. of the principal amount of such Collateral Debt Obligation.

  • 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;