Replacement Fund definition

Replacement Fund means a mutual fund managed or sponsored by the Fund Investment Manager, as further described under “Description of the Deposit Notes – Extraordinary Events”.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Replacement Fund means a mutual fund managed or sponsored by the Investment Manager or any affiliate, as further described under “Description of the Deposit Notes – Extraordinary Events”;

Replacement Fund means expenditures for obtaining and installing equipment, accessories, and appurtenances which are necessary during the useful life of the treatment works to maintain the capacity and performance for which such works were designed and constructed.

Examples of Replacement Fund in a sentence

• Upon the loss, destruction or obsolescence of any Tangible Personal Property, Tenant shall replace such property with replacements of the same type and quality as initially in place, which such property will be owned by Tenant except to the extent acquired with funds from the Capital Replacement Fund ("Tenant's Personal Property").

• However, Tenant shall be entitled to all federal and state income tax benefits associated with any Tenant Improvement during the Lease Term exclusive of any Capital Expenditures paid for from amounts credited to the Capital Replacement Fund, as to which Landlord shall be entitled all income tax benefits.

• Tenant shall have no rights with respect to any amounts in the Capital Replacement Fund except as provided herein.

• Any excess proceeds of insurance remaining after the completion of the restoration or reconstruction of the Property (or in the event neither Landlord nor Tenant is required to or elects to repair and restore) shall be paid to Landlord and deposited in the Capital Replacement Fund except for any portion specifically applicable to Tenant's merchandise and inventory.

• The Capital Replacement Reserve shall accrue quarterly based on the Officer's Certificate and shall be placed in the Capital Replacement Fund.

More Definitions of Replacement Fund

Replacement Fund means the Replacement and Improvement Fund established pursuant to Section 14(f) of this Resolution.

Replacement Fund means, with respect to the Iberica Fund, a fund, investment vehicle, partnership, joint venture or similar arrangement (or any combination of the foregoing) (collectively, an “Investment Vehicle”) with the following characteristics: (i) the Investment Vehicle has a term of not less than five (5) years from the Rebate Date, and (ii) the limited partners (or other investors) in the Investment Vehicle held fifty percent (50%) or more of the limited partners’ (or other investors’) commitments or interests in the Iberica Fund and (iii) the product of (x) the time-weighted average annualized net contractual management fee revenues of such Replacement Fund at the time of the Successful Extension (calculated based on the applicable fee basis (i.e. the net asset value or the gross asset value, as applicable), as of the then most recent fiscal quarter end, but, in the case of a Replacement Fund that includes assets that are not originating from the Iberica Fund, disregarding any part of the net asset value existing or contributed other than from the Iberica Fund) and (y) 1 minus the percentage (expressed as a decimal) of aggregate equity commitments of such Replacement Fund that is subject to outstanding commitments for guaranteed redemptions, to the extent the same are not offset by binding new capital commitments, equals at least 67% of the aggregate Reference Annualized Management Fees payable under the Iberica Fund;”

Replacement Fund means a mutual fund managed or sponsored by the Investment Manager or an affiliate, as further described under “Note Program - Extraordinary Events”;

Replacement Fund means one or more private equity funds selected by the Calculation Agent in its reasonable discretion to replace an Underlying Fund upon the occurrence of any of the events that trigger such replacement, pursuant to the provisions of paragraph 7 ("Substitution by Replacement Fund") below.

Replacement Fund means a fund determined and selected by the Calculation Agent to replace the

Replacement Fund means the Replacement Fund established in Section 604 of the Master Trust Agreement.

Replacement Fund means expenditures for obtaining and installing equipment, accessories, and appurtenances which are necessary during the useful life of the sewerage system to maintain the capacity and performance for which such system was designed and constructed.