Release Percentage. Defined in the Fee Letter, which definition is incorporated herein by reference.
Release Percentage means a fraction (expressed as a percentage) the numerator of which shall equal the outstanding principal balance of the applicable Loan as of the date of determination, and the denominator of which shall equal the sum of the outstanding principal balance of the Loan and the Mezzanine A Loan
Release Percentage means (i) 0% prior to January 8, 2015 and (ii) 100% on and after January 8, 2015.
Examples of Release Percentage in a sentence
The Intermediary shall calculate the Share Release Percentage as per the MOT Section II.4-7.
However, as more fully set forth in Section 2.7(e) hereof, in no event shall any adjustment to the Release Payment result in the Release Percentage exceeding 18% of the Retail Value.
If at any time the Release Percentage exceeds 18% of the Retail Value, then within 20 days thereafter, Borrower will at its sole option either (i) make to Lender a principal payment or (ii) pledge to Lender Additional Timeshare Inventory (under the conditions set forth in Section 2.11 hereof) (or any combination of the alternatives contained in clauses (i) or (ii) above) so that after such payment or pledge, the Release Percentage is equal to or less than 18% of the Retail Value.
Upon a partial release pursuant to Section 11.25 hereof, the amount of the required monthly deposits pursuant to this Section 6.5.1 shall be reduced by the Release Percentage for the related Release Parcel.
Borrower shall deposit with Agent on each Monthly Payment Date an amount equal to $32,500 for annual Capital Expenditures approved by Lender, which approval shall not be unreasonably withheld or delayed; provided that upon a partial release pursuant to Section 11.25 hereof, such amount of $32,500 shall be reduced by the Release Percentage for the related Release Parcel.
More Definitions of Release Percentage
Release Percentage means (i) prior to the date that is 18 months following January 8, 2010, 0%, (ii) from the date that is 18 months following January 8, 2010 until the date that is two years after January 8, 2010, (x) 50% multiplied by (y) the Time Percentage (as defined in Exhibit C), (iii) from the date that is two years following January 8, 2010 until the date that is thirty months after January 8, 2010, (x) 75% multiplied by (y) the Time Percentage, and (iv) on and after the date that is 30 months after January 8, 2010, 100%.
Release Percentage means, initially, zero percent (0%), and after the date that is six (6) months immediately following the Closing Date, ten percent (10%). The undersigned now has, and, except as contemplated by the immediately preceding sentence, for the duration of this Lock-Up Agreement will have, good and marketable title to the Undersigned’s Shares, free and clear of all liens, encumbrances, and claims whatsoever. The undersigned also agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent (the “Transfer Agent”) and registrar against the transfer of the Undersigned’s Shares except in compliance with the foregoing restrictions. In order to enforce this covenant, the Company shall impose irrevocable stop-transfer instructions preventing the Transfer Agent from effecting any actions in violation of this Lock-Up Agreement. The undersigned acknowledges that the execution, delivery and performance of this Lock-Up Agreement is a material inducement to each Buyer to complete the transactions contemplated by the Purchase Agreement and that the Company shall be entitled to specific performance of the undersigned’s obligations hereunder. The undersigned hereby represents that the undersigned has the power and authority to execute, deliver and perform this Lock-Up Agreement, that the undersigned has received adequate consideration therefor and that the undersigned will indirectly benefit from the closing of the transactions contemplated by the Purchase Agreement. The undersigned understands and agrees that this Lock-Up Agreement is irrevocable and shall be binding upon the undersigned’s heirs, legal representatives, successors, and assigns. This Lock-Up Agreement may be executed in two counterparts, each of which shall be deemed an original but both of which shall be considered one and the same instrument. This Lock-Up Agreement will be governed by and construed in accordance with the laws of the State of New York, without giving effect to any choice of law or conflicting provision or rule (whether of the State of New York, or any other jurisdiction) that would cause the laws of any jurisdiction other than the State of New York to be applied. In furtherance of the foregoing, the internal laws of the State of New York will control the interpretation and construction of this Lock-Up Agreement, even if under such jurisdiction’s choice of law or conflict of law analysis, the substantive law of some other jurisdiction would ordinarily apply. Ver...
Release Percentage has the meaning specified in Section 1109.
Release Percentage shall have the meaning set forth in the definition of “Release Amount”.
Release Percentage means, with respect to any Release Date, the applicable percentage set forth opposite such date below: DATE RELEASE PERCENTAGE Closing Date through 30th day thereafter 100% 31st through 60th day after Closing Date 95% 61st through 90th day after Closing Date 90% 91st day after Closing Date and thereafter 85%
Release Percentage. With respect to any Purchased Asset, (a) at all times prior to the Funding Expiration Date, an amount equal to zero percent (0%), (b) at all times during the first Extension Period, five percent (5%) and (c) at all times during the second Extension Period, ten percent (10%).
Release Percentage. The meaning set forth in the Fee Letter, which definition is incorporated by reference herein. “Relevant Governmental Body”: The Board of Governors of the Federal Reserve System and/or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Board of Governors of the Federal Reserve System and/or the Federal Reserve Bank of New York, or any successor thereto. “Remedial Work”: Any investigation, inspection, site monitoring, containment, clean–up, removal, response, corrective action, mitigation, restoration or other remedial work of any kind or nature because of, or in connection with, the current or future presence, suspected presence, Release or threatened Release in, about or to the air, soil, ground water, surface water or soil vapor at, on, about, under or within all or any portion of any property or Mortgaged Property of any Materials of Environmental Concern, including any action to comply with any applicable Environmental Laws or directives of any Governmental Authority with regard to any Environmental Laws. “REMIC”: A REMIC, as that term is used in the REMIC Provisions. “REMIC Provisions”: Sections 860A through 860G of the Code.