Replacement Reserve Amount definition

Replacement Reserve Amount means, with respect to any Property or group of Properties for any Fiscal Quarter, a reserve for replacement reserves, leasing costs and recurring capital expenditures equal to the product of $0.075 TIMES the gross leasable area of such Property or group of Properties excluding the gross leasable area of any Construction Project thereon prior to the Rent Stabilization Date with respect to such Construction Project.

Replacement Reserve Amount shall have the meaning ascribed to such term in Section 9.2.

Replacement Reserve Amount means, with respect to any Property or group of Properties for any Fiscal Quarter, a reserve for replacement reserves, leasing costs and recurring capital expenditures equal to the product of $0.075 times the gross leasable area of such Property or group of Properties excluding the gross leasable area of any Construction Project thereon prior to the Rent Stabilization Date with respect to such Construction Project. The Replacement Reserve Amount for the Portfolio Properties will be based on the gross leasable area of the Properties owned by Borrower or one of its Subsidiaries and the Borrower's Share of the gross leasable area of the Properties owned by the Unconsolidated Affiliates.

Examples of Replacement Reserve Amount in a sentence

• Recovery is limited to damages sustained by the party suing and costs of the suit.

• O‘ahu GS Fast Frequency Response Regulating Reserve Capacity Replacement Reserve Amount per kW $58 $58 $31 $4 Maui GS Fast Frequency Response Regulating Reserve Capacity Replacement Reserve Amount per kW $163 $163 $80 $3 Hawai‘i Island GS Fast Frequency Response Regulating Reserve Capacity Replacement Reserve Amount per kW $229 $229 $29 $3 Conditional Contract Capability.

• Exclude allocation to replacement reserve, loan principal and interest.Loan interest: Interest portion of actual payments remitted to lender during period.Allocation to Replacement Reserve: Amount transferred from operating account to replacement reserve account during period.Transfer to/from Subsidy Surplus Reserve: Amount transferred to operating account to meet subsidy requirements of income-tested occupants over and above the CMHC subsidy available for this purpose for the period.

• An estimate of the number of individuals who will be employed or whose employment will be retained by the person as a result of the redevelopment or rehabilitation and an estimate of the annual salaries of these individuals.

• In addition to the requirements set forth in Section 62.6(d) of the Guide, for each MHC Mortgage the Replacement Reserve Amount for the Property must be at least: • $50/Home Site/year, and • $250/Manufactured Home/year, for each Borrower-Owned Home that is included in the collateral for the MHC Mortgage Freddie Mac will review the property condition consultant’s assessment and determine theactual Replacement Reserve amount.

More Definitions of Replacement Reserve Amount

Replacement Reserve Amount means one-twelfth (1/12th) of the annual per square foot or per unit amount which, in connection with an Advance applied to acquire Property, the Agent, may require be deposited on subsequent Payment Dates into the Replacement Reserve Account on a monthly basis to be applied to replacement reserve items (taking into account, in connection with CTL Properties only, any deposits to reserves or payments expressly required to be made by tenants under Credit Leases).

Replacement Reserve Amount means, with respect to any Property or group of Properties, a normalized annual reserve for recurring capital expenditures which reserve shall initially be at the rate of $0.10 per year per square foot of gross leasable area of such Property or Properties. Commencing in 1997 such rate may be adjusted by the Agent, with the approval of the Requisite Lenders, based on the actual experienced rate of capital expenditures incurred by Borrower with respect to the applicable Properties during 1996 and prior years, but in no event shall such rate be adjusted to a rate higher than such initial rate.

Replacement Reserve Amount means an amount equal to $1,189,400.00. The Partnership shall give written instructions to Account Bank, with a copy to Trustee, on the Business Day preceding each Account Funding Date, which instructions shall specify the respective amounts of the withdrawals from the Operating Account and deposits into each other Account on such Funding Date.

Replacement Reserve Amount means an amount calculated using reasonable accounting practices based on the useful life of the various assets composing the Projects established by the Internal Revenue Code of 1986, as amended, to be used to replace such assets.

Replacement Reserve Amount means during the first twelve months following completion of the rehabilitation and equipping of the Project, an amount equal to $__________ times the number of apartment units at the Project, which amount shall be increased (i) as of the first day of the first full month of each succeeding twelve month period by the amount by which the cost of living (as reflected in the Consumer Price Index for the metropolitan area in which the Project is located, or any successor or substitute index) as of the last calendar month of the immediately preceding twelve month period exceeded such cost of living as of the last calendar month of the prior twelve month period and (ii) not more frequently than once every five years upon the written direction of the Bondowner Representative by an amount reasonably determined by the Bondowner Representative, based on a physical needs assessment in respect of the Project, as necessary to meet the upcoming capital needs of the Project.

Replacement Reserve Amount means, with respect to any Real Property, a normalized annual reserve for recurring capital expenditures which reserve shall initially be at the rate of $0.10 per year per square foot of gross leasable area of such Real Property. Commencing in 2000 such rate may be adjusted by the Agent, based on the actual experienced rate of capital expenditures incurred by Borrower with respect to the applicable Real Properties during 1999 and prior years, provided that such rate shall not, in any event, be adjusted below $0.10 per year per square foot of gross leasable area of such Real Property.

Replacement Reserve Amount. An amount equal to Four Hundred Dollars ($400.00) per bed annually to be used for capital improvement projects at the Facility.