Redemptive Value definition

Redemptive Value. With respect to any Tax Lien, Eligible Substitute Tax Lien or Deleted Tax Lien and any date of calculation, (i) the Tax Lien Principal Balance thereof plus all accrued interest thereon as of such date of calculation, exclusive of, in the case of the Bankruptcy Tax Liens where a Property Owner was Bankrupt as of the applicable Sale Date, the 5% surcharge and any interest rate increases pursuant to Section 11-332 of Chapter 3 of Title 11 of the City Admin. Code, the costs of notice and advertisement and any other penalty amounts, or (ii) in the case of a Tax Lien that has been the subject of a judicial modification in a Bankruptcy Proceeding, the amount fixed by the applicable bankruptcy court.

Redemptive Value means, with respect to any Tax Lien, the full amount of the taxes secured by said lien, including all interest accrued as of any designated date, and if calculated after the commencement of a foreclosure action, the total amount required to redeem such Tax Lien in full on such date including reasonable attorneys’ fees, costs and expenses allowed by law.

Redemptive Value. With respect to any Tax Lien, Eligible Substitute Tax Lien or Deleted Tax Lien and any date of calculation, (i) the Tax Lien Principal Balance thereof plus all accrued interest thereon as of such date of calculation, exclusive of, in the case of the Bankruptcy Tax Liens where a Property Owner was Bankrupt as of the applicable Conveyance Date, the 5% surcharge and any interest rate increases pursuant to Section 11-332 of Chapter 3 of Title 11 of the City Admin. Code, the costs of notice and advertisement and any other penalty amounts, or

Examples of Redemptive Value in a sentence

• If the Servicer receives a payment from a Property Owner that does not specify the delinquent tax lien to which the payment is to be applied, then such payment shall be applied in accordance with applicable Law and, as to the Tax Liens and any other tax lien that ranks pari passu therewith, on a pro rata basis in accordance with the Adjusted Redemptive Value (or comparable amount) thereof.

• Proceeds shall be applied, first to any Subsequent Taxes and Assessments until paid and satisfied in full, and then, to the Tax Liens and any other tax lien that ranks pari passu therewith, on a pro rata basis in accordance with the Adjusted Redemptive Value (or comparable amount) thereof.

• For all purposes of this Agreement, Collections received with respect to any Tax Lien shall be deemed to be applied (A) first, to reduce the portion of the Adjusted Redemptive Value thereof representing recoverable Lien Administration Expenses relating to such Tax Lien, (B) second, to reduce the portion of the Adjusted Redemptive Value thereof representing interest accrued thereon, as applicable, and (C) third, to reduce that portion of the Adjusted Redemptive Value thereof representing principal.

More Definitions of Redemptive Value

Redemptive Value means, with respect to a Tax Receivable as of a particular date, the Tax Receivable Balance thereof as of such particular date plus accrued and unpaid interest from the Cut-off Date to such particular date on the amount described in clause (A) of the definition of Tax Receivable Balance.

Redemptive Value means, with respect to PACE Charge Liens transferred or sold to the Trust and any date of calculation, the sum of the PACE Charge Lien Principal Balance thereof and all accrued interest thereon as of such date of calculation, the 5% surcharge and any interest rate increases pursuant to Section 11-332 of Chapter 3 of Title 11 of the City Admin. Code, the costs of notice and advertisement and any other penalty amounts.

Redemptive Value means, with respect to any Tax Lien at any given time, the amount (consisting of principal, interest, penalties, costs and any other amounts) required to redeem such Tax Lien at such time, which amount is at least equal to the applicable amount set forth on Exhibit A hereto with respect to the Existing Tax Liens.

Redemptive Value means with respect to any Texas Tax Lien as of any date, either (x) the sum of (i) the outstanding principal balance of the Texas Tax Lien as set forth in the related Payment Agreement and any Subsequent Texas Tax Lien owned by the Issuer relating thereto, (ii) all accrued interest thereon and (iii) all outstanding Lien Administration Expenses with respect thereto (to the extent such Lien Administration Expenses can be imposed consistent with the Texas Statutes) and, without duplication, any outstanding special assessments, penalties, costs and fees imposed under the Texas Statutes or (y) in the case of a Texas Tax Lien that has been the subject of a judicial modification in a bankruptcy proceeding, the amount fixed by the applicable bankruptcy court.