Monthly Draw definition

Monthly Draw means an amount equal to 70% of the total increase in Net Worth over the three (3) Accounting Periods immediately before the date upon which Monthly Draw is calculated, divided by three, minus any amounts reflected on your most recent Bookkeeping Records as distributions to you of additional draw, unauthorized draw or Excess Investment Draw; provided however, you will not be entitled to a Monthly Draw if it will result in reducing in your Net Worth to any amount below the Minimum Net Worth required pursuant to Paragraph 13(d) of this Agreement.
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Monthly Draw means the sum of $5,000.00 to be paid by Acquisition Corp. to each of Nath▇▇ ▇▇▇▇ ▇▇▇ Rich▇▇▇ ▇▇▇▇▇▇ ▇▇ the 5th business day of each month, commencing in May of 2001.
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Examples of Monthly Draw in a sentence

  • Accordingly, the parties further agree that the Management Fee and Monthly Draw payable in respect of the Management Services and the Medical Group Services applicable to such period of time shall be computed, and any appropriate adjustments shall be made, such that no material financial advantage or disadvantage shall accrue to either party as a result of implementing such requirements and procedures over the course of such start-up period rather than immediately on the Commencement Date.

  • If the Annual Medical Group Compensation is less (the "Annual Overpayment") than the Annual Draw Amount, the Management Company shall withhold from the Monthly Draw otherwise payable to the Medical Group, during each of the following six (6) months, an amount equal to one-sixth (1/6) of such Annual Overpayment.

  • Estimated Allocation for Administrative and Payroll Costs - Monthly Draw The department shall request funds once a month, such that they are deposited on approximately the 25th, to fund the costs incurred during that month.

  • Developer will also send electronic copies of Monthly Draw Requests to ▇▇▇▇▇.▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ and ▇▇▇▇▇.▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇.

  • For purposes of this Section 2.02 only, Developer will submit hard copies of the Monthly Draw Requests to the FCRHA at FCRHA, ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, Fairfax, VA 22030, Attention: ▇▇▇▇▇ ▇▇▇▇ (North Hill) with a copy to FCRHA, ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, Fairfax, VA 22030, Attention: ▇▇▇▇▇ ▇▇▇▇▇▇ (North Hill).

  • If the FCRHA or its inspectors reasonably determine that any work or materials do not conform to the Plans or the Site Work Contract (subject to modifications as permitted herein), or sound building practices or otherwise depart from any of the requirements of this Agreement, the FCRHA may require the work to be stopped and may suspend payments under any Monthly Draw Request until the matter is corrected.

  • If and when the FCRHA approves all or part of a Monthly Draw Request, it will remit the approved amount, less Basic Retainage and Completion Retainage, to Developer (the “Remittance”).

  • The FCRHA shall withhold from each payment of a Monthly Draw Request an amount equal to five percent (5%) of such requested payment (the “Basic Retainage”).

  • The FCRHA shall review each Monthly Draw Request within fifteen (15) business days after receipt thereof, together with the Certifications and the other materials set forth in this Section 2.02, including any other requested information.

  • Developer shall not commingle Owner’s funds with the funds of any other Person and shall disburse Owner’s funds only in accordance with the Monthly Draw Package.

Related to Monthly Draw

  • Monthly Date means the last Business Day of each calendar month.

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Required Reserve Factor Floor means, for any Calculation Period, the sum (expressed as a percentage) of (a) 28.00% plus (b) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the immediately preceding Cut-Off Date.