Replacement Reserve Cap definition

Replacement Reserve Cap shall have the meaning set forth in Section 7.3.1 hereof.

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Replacement Reserve Cap means the amount set forth in Section 1.03.

Replacement Reserve Cap means an amount equal to twelve (12) multiplied by the Replacement Reserve Monthly Deposit.

Examples of Replacement Reserve Cap in a sentence

Notwithstanding the foregoing, the Replacement Reserve Cap may be increased not more than once annually upon mutual agreement of Borrower and Lender.
Borrower may, at its option, provide a Letter of Credit which complies with the terms and conditions of Section 6.08 of this Loan Agreement, in the amount of the Replacement Reserve Cap, in fulfillment of its obligations under this Section 4.05, provided that, upon disbursement of funds under such Letter of Credit, Borrower provides Lender with a replacement Letter of Credit in the amount of the Replacement Reserve Cap.
Lender may reassess its estimate of the amount necessary for the Replacement Reserve Fund from time to time, and may increase the Replacement Reserve Cap or the monthly amounts required to be deposited into the Replacement Reserve Fund upon thirty (30) days notice to Borrower if Lender determines in its reasonable discretion that an increase is necessary to maintain the proper maintenance and operation of the Property.
Borrower's Monthly Reserve Deposit shall be suspended at such time as and only for so long as, the amounts on deposit in the Replacement Reserve Account equals or exceeds the Replacement Reserve Cap.
When the Replacement Reserve Funds on deposit in the Replacement Reserve Account equals or exceeds the Replacement Reserve Cap, Borrower may cease making Replacement Reserve Monthly Deposits to the Replacement Reserve Fund.

More Definitions of Replacement Reserve Cap

Replacement Reserve Cap has the meaning set forth in Section 4.05(b).

Replacement Reserve Cap means the amount set forth in the Summary.

Replacement Reserve Cap means, for each date of determination, an amount equal to the Aggregate Square Footage multiplied by sixty cents ($0.60).

Replacement Reserve Cap means, as of the date of determination, an amount equal to the Aggregate Square Footage multiplied by Forty Cents ($0.40), provided that in the event that the Debt Service Coverage Ratio based on the trailing twelve (12) month period immediately preceding such date of determination is equal to or greater than 1.71 to 1.00, the Replacement Reserve Cap shall mean, as of the date of determination, an amount equal to the Aggregate Square Footage multiplied by Twenty Cents ($0.20). The Replacement Reserve Cap as of the Closing Date is Three Million Nine Hundred One Thousand Five Hundred Fifteen ($3,901,515).

Replacement Reserve Cap shall have the meaning set forth in the Closing Date Mortgage Loan Agreement.

Replacement Reserve Cap means an amount equal to twelve (12) multiplied by the Replacement Reserve Monthly Deposit. “Replacement Reserve Funds” shall have the meaning set forth in Section 7.4.1 hereof.

Replacement Reserve Cap means an amount equal to One Hundred Six Thousand Two Hundred Fifty and No/100 Dollars ($106,250.00).