Operating Deficit Reserve definition

Operating Deficit Reserve means the operating deficit reserve account established pursuant to the provisions of Section 8.18(b) of this Agreement.
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Operating Deficit Reserve. The General Partner(s) shall cause the Partnership to deposit $50,000 from the proceeds of the Second Installment and $50,000 from the proceeds of the Fourth Installment into a segregated reserve account for operating expenses.
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Examples of Operating Deficit Reserve in a sentence

  • Examples of reserves which can be considered part of the operating deficit reserve for this calculation are provided in the Operating Deficit Reserve portion of the Funding section in the RFA.

  • When it is anticipated that the project’s net operating income will be inadequate to support the insured loan, the MAP Guide should be followed for sizing the IOD, regardless of the size of the tax credit equity investor required Operating Deficit Reserve (ODR).

  • All applicants must certify that Operating Deficit Reserve and Reserve for Replacement accounts have been established and identify the banking institution and amount of the reserve accounts.

  • The Applicant must remain a Non-Profit entity and the Non-Profit entity must (i) receive at least 25 percent of the Developer’s fee, exclusive of the portion of the Developer Fee that will fund the Operating Deficit Reserve; and (ii) contractually ensure that it substantially and materially participates in the management and operation of the Development throughout the Compliance Period.

  • Using the same amounts except that RD requires a $70,000 initial operating capital, the owner must fund a separate $50,000 Operating Deficit Reserve.) A copy of the December bank statement for the Operating Reserve account and the Replacement Reserve account must be submitted by the Owner to ADFA’s Compliance Department by February 1 of each year.

  • The ending balance of the Operating Deficit Reserve account plus the development’s ending cash balance per RD Form 3560-7, plus the balance of RD’s initial operating capital reserve must total the amounts required under (a) and (b); thus, general partner of owner or member, shareholder, or partner of general partner of owner may have to deposit funds into the separate Operating Deficit Reserve account to total this amount.

  • In lieu of the 5-year Operating Deficit Reserve described above, ADOH will underwrite a Rental Assistance Reserve funded through the Project’s equity to cover the difference between the tenant’s monthly rent payment and an NHTF-assisted Unit’s share of monthly operating costs.

  • All applicants must certify that Operating Deficit Reserve, Reserve for Replacement and tax and insurance escrow accounts have been or will be established, state the amount of the accounts, and identify the financial institution where the accounts will be held.

  • Operating Deficit Reserve Account (ODR)‌The purpose of the ODR is to ensure that adequate funds are on hand should operating costs exceed the project’s ability to pay them.

  • In lieu of the 5-year Operating Deficit Reserve described above, ADOH will underwrite a Rental Assistance Reserve funded through the Project’s equity to cover the difference between the tenant’s monthly rent payment and an NHTF- assisted Unit’s share of monthly operating costs.

Related to Operating Deficit Reserve

  • Operating Deficit means, for the applicable period, insufficient funds to pay operating costs when Cash Expenses exceed Cash Receipts, as determined by the Accountant and approved by the Special Limited Partner.

  • Accumulated Funding Deficiency has the meaning ascribed to that term in Section 302 of ERISA.

  • Reserve Account Deficiency shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(b) of the Sale and Servicing Agreement.

  • Significant deficiency means a shortcoming in the system that materially affects the ability of officials of the Department of Defense to rely upon information produced by the system that is needed for management purposes.

  • Spread Account Deficiency means the excess, if any, of the Required Spread Account Amount over the Available Spread Account Amount.

  • Adjusted Capital Account Deficit means, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant Fiscal Year, after giving effect to the following adjustments:

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

  • Principal Deficit Amount means, as of any date of determination, the excess, if any, of (i) the Series 2006-1 Invested Amount on such date (after giving effect to the distribution of the Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (ii) the Series 2006-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date; provided, however the Principal Deficit Amount on any date occurring during the period commencing on and including the date of the filing by any of the Lessees of a petition for relief under Chapter 11 of the Bankruptcy Code to but excluding the date on which each of the Lessees shall have resumed making all payments of the portion of Monthly Base Rent relating to Loan Interest required to be made under the AESOP I Operating Lease, shall mean the excess, if any, of (x) the Series 2006-1 Invested Amount on such date (after giving effect to the distribution of Monthly Total Principal Allocation for the Related Month if such date is a Distribution Date) over (y) the sum of (1) the Series 2006-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date and (2) the lesser of (a) the Series 2006-1 Liquidity Amount on such date and (b) the Series 2006-1 Required Liquidity Amount on such date.

  • Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

  • Class B Deficiency Amount is defined in Section 4.1(b).

  • Class C Deficiency Amount is defined in Section 4.1(c).

  • Class A Deficiency Amount is defined in Section 4.1(a).

  • Performing Note Deficiency means any time that less than 65% of the then aggregate outstanding principal amount of all Equipment Notes are Performing Equipment Notes.

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Subordination Deficiency With respect to any Distribution Date, the excess, if any, of (a) the Specified Subordinated Amount applicable to such Distribution Date over (b) the Subordinated Amount applicable to such Distribution Date.

  • Nominal Liquidation Amount Deficit means, for any tranche of notes, the Adjusted Outstanding Dollar Principal Amount minus the nominal liquidation amount of that tranche.

  • Advance Deficiency As defined in Section 4.01(b).

  • Funding Default as defined in Section 2.21.

  • Principal Deficiency Amount For any Distribution Date and for any Undercollateralized Group, the excess, if any, of the aggregate Class Certificate Principal Balance of such Undercollateralized Group immediately prior to such Distribution Date over the sum of the Principal Balances of the Mortgage Loans in the related Loan Group immediately prior to such Distribution Date.

  • Net Proceeds Deficiency shall have the meaning set forth in Section 6.4(b)(vi) hereof.

  • Required Accumulation Reserve sub-Account Amount means, with respect to any Monthly Period during the Accumulation Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class A(2019-1) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change.

  • Reportable Fund means any 1940-Act registered open end investment company for which an Adviser serves as investment adviser as defined in Section 2(a)(2) of the 1940 Act, or any 1940-Act registered investment company whose investment adviser or principal underwriter Controls an Adviser, is Controlled by an Adviser or is under common Control with an Adviser.

  • Accumulation Reserve Funding Period shall not apply if the Calculation Agent on behalf of the Issuer notifies the Indenture Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right column of the following table was in effect on the immediately preceding Distribution Date, if the Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date immediately preceding the earlier to occur of:

  • Working Capital Deficit means the amount, if any, by which the Closing Working Capital is less than the Target Working Capital.