Projected Deficit definition

Projected Deficit is defined in Section 4.08(f).
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Projected Deficit means a deficit in the NOI such that the NOI is not sufficient to pay the Monthly Payment.
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Projected Deficit means a deficit in the NOI such that the NOI is not sufficient to pay the Monthly Payment. In calculating a Projected Deficit for any requirements of this Section 4.08, the following terms will have the meanings set forth below:
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Examples of Projected Deficit in a sentence

  • The imposition of furloughs shall be subject to receipt of a Projected Deficit Notice (PDN) from the Controller stating that the department's budget will be insufficient to support the department's level of spending through the end of the fiscal year.

  • To the extent practicable, furlough shall be equitably distributed among all of the employees in the affected department or operational unit to which the Projected Deficit Notice (PDN) has application; and, all of the employees in the affected class(es).

  • Subject to the pledge and security interest, and other rights of Lender set forth in this Loan Agreement, the Section 8 Housing Assistance Payments Reserve will be maintained for the purpose of assuring Lender that adequate funds are available for the payment of any Projected Deficit during the Section 8 Housing Assistance Payments Reserve Period.

  • As a condition to making the Loan, Lender has required Borrower to establish the Debt Service Reserve to ensure that adequate funds are available for, among other things, payment of any Projected Deficit.

  • As a condition to making the Loan, Lender has required Borrower to establish the Section 8 Housing Assistance Payments Reserve to ensure that adequate funds are available for, among other things, payment of any Projected Deficit.

  • As a condition to making the Funding Loan, Funding Lender has required Borrower to establish the Debt Service Reserve to ensure that adequate funds are available for, among other things, payment of any Projected Deficit.

  • Subject to the pledge and security interest, and other rights of Funding Lender set forth in this Continuing Covenant Agreement, the Section 8 Housing Assistance Payments Reserve will be maintained for the purpose of assuring Funding Lender that adequate funds are available for the payment of any Projected Deficit during the Section 8 Housing Assistance Payments Reserve Period.

  • As a condition to making the Funding Loan, Funding Lender has required Borrower to establish the Section 8 Housing Assistance Payments Reserve to ensure that adequate funds are available for, among other things, payment of any Projected Deficit.

  • As a condition to making the Loan, Lender has required Borrower to establish the Lease-Up Debt Service Reserve to ensure that adequate funds are available for, among other things, payment of any Projected Deficit.

  • As a condition to making the Loan, Lender has required Borrower to establish a Debt Service Reserve Fund to ensure that adequate funds are available for, among other things, payment of any Projected Deficit (“Debt Service Reserve Fund”).


More Definitions of Projected Deficit

Projected Deficit means a deficit in the Net Operating Income such that the Net Operating Income is not sufficient to pay the Monthly Payment.
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Projected Deficit means a deficit in the Net Operating Income such that the Net Operating Income is not sufficient to pay the Monthly Payment. In calculating a Projected Deficit for any requirements of this Section 4.08, the following terms will have the meanings set forth below:
Sample 1

Related to Projected Deficit

  • 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.

  • 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.

  • 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:

  • Principal Deficit Amount means, as of any date of determination, the excess, if any, of (i) the Series 2012-1 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 2012-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date; provided, however that 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 2012-1 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 2012-1 AESOP I Operating Lease Loan Agreement Borrowing Base on such date and (2) the lesser of (a) the Series 2012-1 Liquidity Amount on such date and (b) the Series 2012-1 Required Liquidity Amount on such 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.

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

  • Borrowing Base Deficiency means, as of any date of determination, the positive amount, if any, by which (i) the aggregate Loans Outstanding exceeds (ii) the Borrowing Base.

  • Deficit means an excess of liabilities and reserves of a fund over its assets.

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

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

  • Class A-2 Final Scheduled Payment Date means the Payment Date occurring in February 2027.

  • Class B Adjusted Invested Amount means, with respect to any date of determination, an amount equal to the Class B Invested Amount less the positive difference, if any, between the Principal Funding Account Balance and the Class A Invested Amount on such date.

  • Working Capital Deficit means the amount by which the Net Working Capital is less than the Target Net Working Capital.

  • Fiscal Period means the period commencing on the Closing Date, and thereafter each period commencing on the day immediately following the last day of the immediately preceding Fiscal Period, and ending in each case at the close of business on the first to occur of the following dates:

  • Deficit Amount has the meaning specified in Section 3.4(d).

  • Class A Adjusted Invested Amount means, with respect to any date of determination, an amount equal to the Class A Invested Amount less the Principal Funding Account Balance (but not in excess of the Class A Invested Amount) on such date.

  • Deficit Controlled Accumulation Amount means (a) on the first Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Accumulation Amount for such Distribution Date over the amount deposited in the Principal Funding Account on such Distribution Date and (b) on each subsequent Distribution Date with respect to the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for such subsequent Distribution Date over the amount deposited in the Principal Funding Account on such subsequent Distribution Date.

  • Class C Final Scheduled Payment Date means the Payment Date occurring in December 2024.

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

  • Class B Required Amount shall have the meaning set forth in subsection 4.04(b).

  • 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.

  • Class A-1 Final Scheduled Payment Date means the Payment Date occurring in August 2024.

  • Class B Final Scheduled Payment Date means the Payment Date occurring in June 2021.

  • Invested Amount means, as of any date of determination, an amount equal to the sum of (a) the Class A Invested Amount as of such date, (b) the Class B Invested Amount as of such date and (c) the Collateral Invested Amount as of such date.

  • 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.