Modifications and Improvements Account definition

Modifications and Improvements Account means the Modifications and Improvements Account established by the Depositary pursuant to the Depository Agreement.
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Modifications and Improvements Account means the Modifications and Improvements Account established by the Depositary pursuant to the Depository Agreement. “Monthly Amortization” means with respect to any Measuring Period for any Portfolio Railcar subject to a Finance Lease, the Net Investment Value of such Portfolio Railcar on the last day of the immediately preceding Measuring Period minus the Net Investment Value of such Portfolio Railcar on the last day of such Measuring Period. “Monthly Depreciation” means, “Monthly Depreciation” means(a) for any Portfolio Railcar subject to an Operating Lease, with respect to any Measuring Period, the aggregate depreciation expense of the Borrower for such Measuring Period in respect of the Portfolio Railcars, calculated for each such Portfolio Railcar based upon the Original Purchase Price therefor paid by the Borrower (in the case of Portfolio Railcars purchased by the Borrower from a seller other than TILC) or TILC (in the case of Portfolio Railcars transferred to the Borrower under the Asset Contribution and Purchase Agreement), using the straight-line method of depreciation and assuming a 10.00% residual value and a useful life of 35 years from the date of manufacture according to the following: Monthly Depreciation = ULM R ULM AR OPP )1( )1( 1     Where: “OPP” equals the Original Purchase Price with respect to such Portfolio Railcar; “R” equals 0.10 (the residual value of any Portfolio Railcar); “A” equals the age of such Portfolio Railcar, as of the Funding Date with respect to such Portfolio Railcar, expressed in months since date of manufacture; and “ULM” equals 420 (the useful life of any Portfolio Railcar, expressed in terms of months).; and 747656567 17557858 39 Fifth Amended and Restated Warehouse Loan Agreement
Sample 1
Modifications and Improvements Account means the Modifications and Improvements Account established by the Depositary pursuant to the Depository Agreement. “Monthly Depreciation” means with respect to any Measuring Period, the aggregate depreciation expense of the Borrower for such Measuring Period in respect of the Portfolio Railcars, calculated for each such Portfolio Railcar based upon the Original Purchase Price therefor paid by the Borrower (in the case of Portfolio Railcars purchased by the Borrower from a seller other than TILC) or TILC (in the case of Portfolio Railcars transferred to the Borrower under the Asset Contribution and Purchase Agreement), using the straight-line method of depreciation and assuming a 10.00% residual value and a useful life of 35 years from the date of manufacture according to the following: Monthly Depreciation = ULM R ULM AR OPP )1( )1( 1 − × ×− − Where: “OPP” equals the Original Purchase Price with respect to such Portfolio Railcar; “R” equals 0.10 (the residual value of any Portfolio Railcar); “A” equals the age of such Portfolio Railcar, as of the Funding Date with respect to such Portfolio Railcar, expressed in months since date of manufacture; and
Sample 1

Examples of Modifications and Improvements Account in a sentence

  • The Borrower shall cause the Depositary to create the Collection Account, the Custody Account, the Depository Account, the Liquidity Reserve Account, the Maintenance Reserve Account, the Discretionary Account and the Modifications and Improvements Account, in each case in accordance with the terms of the Depository Agreement.

  • The Borrower may reinvest proceeds from an Event of Loss or Condemnation that have been deposited into the Modifications and Improvements Account as described above to fund all or a portion of the cost of one or more Required Modifications or Optional Modifications in respect of existing Railcars of the Borrower.

  • In any other case, any such amounts in the Modifications and Improvements Account (and not otherwise applied) shall be transferred to the Net Cash Proceeds Account for application as Net Cash Proceeds on the next Settlement Date following the 181st day following their deposit.

  • The Borrower shall cause the Depositary to create a Collection Account, a Liquidity Reserve Account, a Maintenance Reserve Account, a Security Deposits Account, an Operating Expenses Account, a Modifications and Improvements Account, a Net Cash Proceeds Account and a Substitution Account, in each case in accordance with the terms of the Depository Agreement.

  • At any time in its discretion within 180 days of deposit into the Modifications and Improvements Account, the Borrower may also elect to transfer amounts so deposited in the Modifications and Improvements Account (and not otherwise applied) into the Net Cash Proceeds Account for application as Net Cash Proceeds for the Measuring Period in which such transfer is made.

  • The Borrower shall cause the Depositary to create the Collection Account, the Depository Account, the Liquidity Reserve Account, the Maintenance Reserve Account, the Discretionary Account and the Modifications and Improvements Account, in each case in accordance with the terms of the Depository Agreement.

  • In any other case, any such amounts in the Modifications and Improvements Account (and not otherwise applied) shall be transferred to the Collection Account for application as Net Cash Proceeds on the next Settlement Date following the 181st day following their deposit.

  • El voto afirmativo de la mayoria de la Corte de Comisionados requerira al oficial dirigiendo la corte a actuar. Declaraciones hecha sin autorización por el publico, pisoteos fuertes, silbatos, gritos o cualquier otra demostración similar no seran permitidos.

  • The Borrower shall cause the Depositary to create a Collection Account, an Operating Expenses Account, a Modifications and Improvements Account, an Optional Reinvestment Account and a Liquidity Reserve Account, in each case in accordance with the terms of the Depository Agreement.

  • The Borrower shall cause the Depositary to create a Collection Account, a Liquidity Reserve Account, a Maintenance Reserve Account and a Modifications and Improvements Account, in each case in accordance with the terms of the Depositary Agreement.

Related to Modifications and Improvements Account

  • Leasehold Improvements means all buildings, structures, improvements and fixtures located on any Leased Real Property which are owned by any Group Company, regardless of whether title to such buildings, structures, improvements or fixtures are subject to reversion to the landlord or other Third Party upon the expiration or termination of the Lease for such Leased Real Property.

  • Building, structure, facility, or installation means all of the pollutant-emitting activities which belong to the same industrial grouping, are located on one or more contiguous or adjacent properties, and are under the control of the same person (or persons under common control) except the activities of any vessel. Pollutant-emitting activities shall be considered as part of the same industrial grouping if they belong to the same major group (i.e., which have the same two-digit code) as described in the Standard Industrial Classification Manual, 1972, as amended by the 1977 Supplement (U.S. Government Printing Office stock numbers 4101-0066 and 003-005-00176-0, respectively).

  • Non-Public Works and Improvements means all competitively solicited procurement of Supplies and/or Services by the City not solicited as Public Works.

  • Public improvement costs means the costs of:

  • Capital Improvements mean the purchase, renovation, rehabilitation, or construction of permanent land, buildings, structures, equipment and furnishings used directly for or in the Project, and any goods or services for the Project that are purchased and capitalized under GAAP, including any organizational costs and research and development costs incurred in Illinois. Capitalized lease costs for land, buildings, structures or equipment shall be included in “Capital Improvements” only if the lease term, including any extensions or options to extend, equals or exceeds the term of this Agreement, and provided that such lease costs are valued at their present value using the corporate interest rate prevailing at the time the Company filed its Application with the Department.

  • Improvements shall have the meaning set forth in the granting clause of the Mortgage.

  • Public Improvements means only the following improvements: housing facilities; garbage disposal plants; rubbish disposal plants; incinerators; transportation systems, including plants, works, instrumentalities, and properties used or useful in connection with those systems; sewage disposal systems, including sanitary sewers, combined sanitary and storm sewers, plants, works, instrumentalities, and properties used or useful in connection with the collection, treatment, or disposal of sewage or industrial wastes; storm water systems, including storm sewers, plants, works, instrumentalities, and properties used or useful in connection with the collection, treatment, or disposal of storm water; water supply systems, including plants, works, instrumentalities, and properties used or useful in connection with obtaining a water supply, the treatment of water, or the distribution of water; utility systems for supplying light, heat, or power, including plants, works, instrumentalities, and properties used or useful in connection with those systems; approved cable television systems, approved cable communication systems, or telephone systems, including plants, works,

  • Commercial Premises means a place of trade or premises operated for financial gain, including but not limited to, a retirement village or a block of flats that has a common facility; a place of trade where the manufacture and production of products or produce takes place; a site where renovation, restoration and refurbishment work as described in Part B takes place.

  • Capital Improvement Project means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, appurtenances to roads and bridges to enhance the safety of animal-drawn vehicles, pedestrians, and bicycles, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities including real property, interests in real property, facilities, and equipment related or incidental to those facilities.

  • Needs Improvement the Educator’s performance on a standard or overall is below the requirements of a standard or overall, but is not considered to be unsatisfactory at this time. Improvement is necessary and expected. Unsatisfactory: the Educator’s performance on a standard or overall has not significantly improved following a rating of needs improvement, or the Educator’s performance is consistently below the requirements of a standard or overall and is considered inadequate, or both.

  • Release Property shall have the meaning set forth in Section 2.6 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.

  • Building Project means the aggregate combined parcel of land on a portion of which are the improvements of which the Premises form a part, with all the improvements thereon, said improvements being a part of the block and lot for tax purposes which are applicable to the aforesaid land.

  • domestic premises means any premises used wholly or partly as a dwelling or intended for such use;

  • Home improvement means the remodeling, altering,

  • Alterations means all changes, additions, improvements or repairs to, all alterations, reconstructions, renewals, replacements or removals of and all substitutions or replacements for any of the Improvements or Equipment, both interior and exterior, structural and non-structural, and ordinary and extraordinary.

  • Project Improvements means site improvements and facilities that are:

  • Public improvement means projects for construction, reconstruction or major renovation on real property by or for a public agency. “Public Works” shall mean roads, highways, buildings, structures and improvement of all types, the construction, reconstruction, major renovation or painting of which is carried on or contracted for by any public agency to serve the public interest by does not include the reconstruction or renovation of privately owned property which is leased by a public agency.

  • Common Areas and Facilities means collectively the Development Common Areas and Facilities and the Residential Common Areas and Facilities and all those parts and such of the facilities of the Development designated as common areas and facilities in any Sub-Deed;