Operating Fund Payments definition

Operating Fund Payments refer to such payments as Landlord shall reasonably determine to be sufficient to provide in the aggregate a fund adequate to pay, when they become due and payable, all payments required from Tenant under this Section. In the event that operating fund payments are so demanded, and if the aggregate of said operating fund payments is not adequate to pay Tenant's share of operating expenses, Tenant shall pay to Landlord the amount by which such aggregate is less than the amount of said share, such payment to be due and payable at the time set forth above. Any surplus operating fund payments shall be accounted for to Tenant after such surplus has been determined, and shall be refunded to Tenant promptly.
Operating Fund Payments refer to such payments as Landlord shall determine to be sufficient to provide in the aggregate a fund adequate to pay, when they become due and payable, all payments required from Tenant under this Section. In the event that Operating Fund Payments are so demanded, and if the aggregate of said Operating Fund Payments is not adequate to pay Tenant’s Proportionate Share of Taxes and Operating Expenses, Tenant shall pay to Landlord the amount by which such aggregate is less than the amount of said share, such payment to be due and payable at the time set forth above. Any surplus Operating Fund Payments shall be accounted for to Tenant after such surplus has been determined, and may be credited by Landlord against future Operating Fund Payments or refunded to Tenant at Landlord’s option. Notwithstanding anything to the contrary in this Section 6.4, “Taxes and Operating Expenses.”, Operating Expenses shall not include any of the following, except as otherwise specifically provided for above in item (3) above in the first paragraph of this Section 6.4, “Operating Expenses”:
Operating Fund Payments refer to such payments as Landlord shall determine to be sufficient to provide in the aggregate a fund adequate to pay, when they become due and payable, all payments required from Tenant under this Section. In the event that operating fund payments are so demanded, and if the aggregate of said operating fund payments is not adequate to pay Tenant's share of operating expenses, Tenant shall pay to Landlord the amount by which such aggregate is less than the amount of said share, such payment to be due and payable at the time set forth above. Any surplus operating fund payments shall be accounted for to Tenant after such surplus has been determined, and may be credited by Landlord against future Rent payments or promptly refunded to Tenant at Landlord's option. Tenant may, at its expense and following reasonable advance notice to Landlord, inspect Landlord's books and records relative to the computation of operating expenses and operating fund payments hereunder. In the event that Current Operating Expenses exceed Prior Operating Expenses by more than the Threshold Amount, Tenant may, by notice given to Landlord no later than sixty (60) days following Landlord's certification of such Current Operating Expenses pursuant to this Section, request a reduction of Tenant's proportionate share thereof. If Landlord does not allow such reduction in an amount satisfactory to Tenant within sixty (60) days following such notice, either party may, within thirty (30) days following said sixty (60) day period, refer the matter to arbitration in accordance with the Commercial Arbitration Rules then in effect of the American Arbitration Association by a single arbitrator in Boston, Massachusetts, who shall, within thirty (30) days after his or her appointment, determine whether such Current Operating Expenses are unreasonable, taking into account costs and expenditures incurred for operating comparable office buildings. A judgment upon the award rendered by such arbitrator may be entered in any court of competent jurisdiction. All direct and reasonable costs of such arbitration, including the expense of the arbitrator but excluding any compensation paid to attorneys, agents, employees or witnesses of either party, shall be shared equally by Landlord and Tenant. Any award to Tenant as a result of such arbitration shall be no greater than Tenant's proportionate share of the amount by which Current Operating Expenses exceed the sum of Prior Operating Expenses and the Threshold...

Examples of Operating Fund Payments in a sentence

  • For 35 ordinary ’clean’ PCA-detected X-ray bursts, that have the simplest light curve shape (complete coverage, monotonic and smooth decay, non-variable non-burst emission and high peak flux to pre-burst flux ratio), we find that a power law is always a better description of the decay portion than an exponential func- tion, whether that decay is measured in units of photon count rate or bolometric flux.

  • Upon Tenant's receipt of Landlord's Annual Statement, either (a) Tenant shall pay to Landlord the amount by which Landlord's Costs exceed the Operating Fund Payments for the applicable calendar year or (b) Landlord shall account to Tenant for the amount by which the Operating Fund Payments exceed Landlord's Costs for the applicable calendar year (which excess amount may be credited by Landlord against future Operating Fund Payments or refunded to Tenant at Landlord's option).

  • In addition to all other Additional Rent set forth in this Sublease, Subtenant shall pay to Sublandlord as Additional Rent hereunder all of such Real Estate Taxes, Utility Charges, Operating Fund Payments and estimated payments thereof payable by Sublandlord to Master Landlord.

  • In the event that Landlord determines at any time and from time to time that the amount then set for the payment of Operating Fund Payments will not be adequate to pay all payments required from Tenant under this Lease, Landlord may increase the amount of subsequent Operating Fund Payments as applicable and Tenant shall pay the Operating Fund Payments as so adjusted.

  • Provided Tenant is not then in default and is current with all payments required under this Lease (including, without limitation, all Operating Fund Payments), Tenant shall have the right to request that Landlord make available to Tenant and allow Tenant to copy such information as is reasonably available to Landlord and reasonably necessary for the purpose of allowing Tenant to verify the information contained in Landlord's Annual Statement ("Annual Statement Information").

  • Subtenant acknowledges that Sublandlord is required to pay to Master Landlord its Proportionate Share of "Real Estate Taxes" and as well for Tenant's charges for "Utilities" and for "Operating Fund Payments" and estimated payments thereof under the Prime Lease.

  • Landlord shall, deliver to Tenant an annual statement (the "Landlord's Annual Statement") of Landlord's Costs and Operating Fund Payments for the immediately preceding calendar year.


More Definitions of Operating Fund Payments

Operating Fund Payments refer to such payments as Landlord shall determine to be sufficient to provide in the aggregate a fund adequate to pay, when they become due and payable, all payments required from Tenant under this Section. In the event that Operating Fund Payments are so demanded, and if the aggregate of said Operating Fund Payments is not adequate to pay Tenant's Proportionate Share of Operating Expenses, Tenant shall pay to Landlord the amount by which such aggregate is less than the amount of said share, such payment to be due and payable at the time set forth above. Any surplus Operating Fund Payments shall be accounted for to Tenant after such surplus has been determined, and may be credited by Landlord against future Operating Fund Payments or refunded to Tenant at Landlord's option.
Operating Fund Payments shall refer to such payments as Landlord shall reasonably determine to be sufficient to provide in the aggregate a fund adequate to pay, when they become due and payable, all payments required from Tenant under this Section. In calculating operating fund payments, Landlord shall take into account the operating expenses incurred in the previous year. In the event that the aggregate of said operating fund payments is not adequate to pay Tenant's share of operating expenses, Tenant shall pay to Landlord the amount by which such aggregate is less than the amount of said share, such payment to be due and payable at the time set forth above. Any surplus operating fund payments shall be accounted for to Tenant after such surplus has been determined, and shall be credited by Landlord against future operating fund payments except that if such surplus operating fund payment exceeds $1,500.00, it shall on Tenant's demand be refunded to Tenant. If such surplus fund payment exceeds the amount that should have been paid by more than ten percent (10%), Landlord shall pay to, or credit Tenant (as the case may be) with interest on such surplus at an annual rate of interest equal to two percent (2%) greater than the prime rate of interest, so-called, of the BankBoston, N.A., in effect at the time. In the event of a dispute between Landlord and Tenant as to the propriety in the amount or nature of any operating expense Landlord has requested Tenant to. pay, Tenant shall pay the same at the time called for hereunder as if the same were properly due, but upon notice from Tenant to Landlord, the matter shall be submitted to arbitration in a manner reasonably consistent with the provisions of Exhibit C, hereto.

Related to Operating Fund Payments

  • Sinking Fund Payment means, with respect to a particular Group of 2024 Series A Bonds, as of any particular date of calculation, the amount required to be paid at all events by the Corporation on a single future date for the retirement of Outstanding 2024 Series A Bonds of such Group which mature after said future date, but does not include any amount payable by the Corporation by reason of the maturity of a 2024 Series A Bond of such Group or by call for redemption at the election of the Corporation.

  • Sinking Fund Provisions [No sinking fund provisions] [The Designated Securities are entitled to the benefit of a sinking fund to retire $ principal amount of Designated Securities on in each of the years through at 100% of their principal amount plus accrued interest] [, together with [cumulative] [non-cumulative] redemptions at the option of the Company to retire an additional $ principal amount of Designated Securities in the years through at 100% of their principal amount plus accrued interest.] [If Designated Securities are Extendable Debt Securities, insert-- Extendable Provisions: The Designated Securities are repayable on , at the option of the holder, at their principal amount with accrued interest. The initial annual interest rate will be %, and thereafter the annual interest rate will be adjusted on , , and to a rate not less than % of the effective annual interest rate on obligations with year maturities as of the [interest date 15 days prior to maturity date] prior to such [insert maturity date].] [If Designated Securities are Floating Rate Debt Securities, insert-- Floating Rate Provisions: The initial annual interest rate will be % through [and thereafter will be adjusted [monthly] [on each , , and ] [to an annual rate of % above the average rate for -year [-month] [securities] [certificates of deposit] by and [insert names of banks].] [and the annual interest rate [thereafter] [from through ] will be the interest yield equivalent of the weekly average per annum market discount rate for -month Treasury bills plus % of the Interest Differential (the excess, if any, of (i) the then-current weekly average per annum secondary market yield for -month certificates of deposit over (ii) the then-current interest yield equivalent of the weekly average per annum market discount rate for -month Treasury bills); [from and thereafter the rate will be the then-current interest yield equivalent plus % of the Interest Differential].] 23

  • mandatory sinking fund payment has the meaning specified in Section 12.01.

  • Sinking Fund Account means the sinking fund account established and held by the Treasurer of Charleston County designed to provide for the payment of the principal of, premium, if any, and interest on the Bonds, as the same respectively fall due.

  • Sinking Fund Installment means, as of any particular date of calculation, the amount required, as of such date of calculation, to be paid by the Authority on a future date for the retirement of Outstanding Bonds which are stated to mature subsequent to such future date, but does not include any amount payable by the Authority by reason only of the maturity of a Bond.

  • Reserve Fund Property means, the Reserve Fund Initial Deposit and all proceeds thereof and all other amounts deposited in or credited to the Reserve Fund from time to time under this Agreement, all Eligible Investments made with amounts on deposit therein, all earnings and distributions thereon and proceeds thereof.

  • Operating Fund means a fund in which the revenues and expenditures are subject to appropriation control.

  • the Independent Living Fund (2006) means the Trust of that name established by a deed dated 10th April 2006 and made between the Secretary of State for Work and Pensions of the one part and Margaret Rosemary Cooper, Michael Beresford Boyall and Marie Theresa Martin of the other part;

  • Available Operating Funds means the sum of (i) the Fund’s net investment company taxable income (including net short-term capital gains reduced by net long-term capital losses), (ii) the Fund’s net capital gains (including the excess of net long-term capital gains over net short-term capital losses) and (iii) dividends and other distributions paid to the Fund on account of investments in portfolio companies (to the extent such amounts listed in clause (iii) are not included under clauses (i) and (ii) above).

  • Sinking Fund means each Sinking Fund Subaccount under the Indenture. To the extent necessary for compliance with the Authority’s tax covenants and other provisions of the Indenture and the Act, the Authorized Officers of the Authority may subdivide each such subaccount in respect of separate categories or issues of Sinking Fund Bonds.

  • optional sinking fund payment has the meaning specified in Section 12.01.

  • Bond Payment Date means any date on which principal of or interest on any Bond is payable.

  • Fund Property means the property and assets of the Fund.

  • Pooled fund group means an internally created fund of a district in which one or more institutional accounts of a district are in- vested.

  • Independent Fund Trustee means a trustee of the Trust who is not an “interested person” as that term is defined in Section 2(a)(19) of the 1940 Act.

  • Total Fund Operating Expenses with respect to a Fund is defined to include all expenses necessary or appropriate for the operation of the Fund including the Adviser’s investment advisory or management fee under the Advisory Agreement and other expenses described in the Advisory Agreement that the Fund is responsible for and have not been assumed by the Adviser, but excludes front-end or contingent deferred loads, taxes, leverage expenses, interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, unusual or infrequently occurring expenses (such as litigation), acquired fund fees and expenses, and dividend expenses, if any.

  • Participating Funds means those Funds that are parties to a particular repurchase transaction effected through the Joint Trading Account.

  • Participating Fund means each Fund, including, as applicable, any series thereof, specified in Exhibit A, as such Exhibit may be amended from time to time by agreement of the parties hereto, the shares of which are available to serve as the underlying investment medium for the aforesaid Contracts.

  • Investing Fund any Fund investing Cash Balances and/or Cash Collateral in an Affiliated Money Market Fund; and

  • Trust Fund Expenses shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

  • Matching Funds means the amount and nature of the moneys or resources to be used by the Local Political Subdivision or Nonprofit Organization for the Project. Such funds shall constitute not less than twenty-five percent (25%) of the total Cost of Project set forth in Appendix D and may consist of money by any person, any Local Political Subdivision, the State of Ohio, or the federal government or of contributions in-kind by such parties through purchase or donation of equipment, land, easements, labor, or materials necessary to complete the Project.

  • Buydown Fund Account A separate account or accounts created and maintained pursuant to Section 3.02 (a) with the corporate trust department of the Trustee or another financial institution approved by the Master Servicer, (b) within FDIC insured accounts (or other accounts with comparable insurance coverage acceptable to the Rating Agencies) created, maintained and monitored by a Servicer or (c) in a separate non-trust account without FDIC or other insurance in an Eligible Institution. Such account or accounts may be non-interest bearing or may bear interest. In the event that a Buydown Fund Account is established pursuant to clause (b) of the preceding sentence, amounts held in such Buydown Fund Account shall not exceed the level of deposit insurance coverage on such account; accordingly, more than one Buydown Fund Account may be established.

  • Independent Fund Director means an independent director of an investment company advised by Invesco.

  • Additional Trust Fund Expense Any expense of the Trust Fund that (i) arises out of a default on a Mortgage Loan or a Serviced Pari Passu Companion Loan or an otherwise unanticipated event, (ii) is not included in the calculation of a Realized Loss, (iii) is not covered by a Servicing Advance or a corresponding collection from the related Borrower, and (iv) is not covered by Default Charges collected on the Mortgage Loans to the extent provided herein.

  • Underlying Funds means open-end investment companies registered under the 1940 Act within the ING fund complex. The term, “fund complex” shall have the same meaning as defined in Item 17 of Form N-1A, as it was in effect on May 7, 2013.

  • pension fund holder means with respect to a personal pension scheme or an occupational pension scheme, the trustees, managers or scheme administrators, as the case may be, of the scheme concerned;