Reserve Cap definition

Reserve Cap means, with respect to a Calculation Period, the sum of the following amounts:
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Reserve Cap means with respect to all Lease Financing Loans in a Loan Pool, an amount equal to *** of the sum of all Monthly Payment Amounts on such Lease Financing Loans.
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Reserve Cap. As defined in Section 9.2(a).
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Examples of Reserve Cap in a sentence

  • In the event there is a balance in the Reserve Fund at the end of any Fiscal Year, such balance shall be carried over to the next Fiscal Year; provided that the Reserve Fund shall not exceed six percent (6%) of Gross Revenue for the immediately preceding twelve (12) Fiscal Months (the “Reserve Cap”) and Manager shall not deposit or otherwise withhold any amounts in excess of the Reserve Cap for the respective Managed Property’s Reserve Fund.

  • Notwithstanding the foregoing, the Replacement Reserve Cap may be increased not more than once annually upon mutual agreement of Borrower and Lender.

  • The aggregate amount of the Reserve shall not exceed an amount equal to twelve (12) times the amount that was required to be paid on the most recent Adjustment Date (the “Reserve Cap”) (and installments otherwise required under this Section 9.2(a) shall be reduced to the extent that the amount thereof plus the amount of the Reserve held by Lessor on the applicable Reserve Payment Date exceeds the 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.

  • On the first year anniversary of the Closing Date, Retail Sub shall pay to Seller the excess of the Reserve Cap over all payments made by Retail Sub under this Section 6.16 over the prior year.

  • 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.

  • In the calculation of Closing Working Capital it will be assumed that Retail Sub's obligations under this Section 6.16 is a current liability in the amount of the Reserve Cap.

  • At such time as amounts on deposit in the Replacement Reserve Account are less than the Replacement Reserve Cap, Borrower's obligation to make the Monthly Replacement Reserve Deposit shall be reinstated until such time as and only for so long as, the amount on deposit in the Replacement Reserve Account equals the Replacement Reserve Cap.

  • If Lender and Borrower are unable, after using good faith efforts, to agree upon whether any increase in the Replacement Reserve Cap is necessary, and, if so, the amount of any such increase, Lender may, but not more frequently than once per year, engage an independent inspector at Borrower's expense to inspect the Property and to determine whether an increase in the Replacement Reserve Cap is necessary to fund replacements of the nature described in Section 4.05(d)(i) or (ii) below.


More Definitions of Reserve Cap

Reserve Cap has the meaning assigned to such term in Section 4.04. “Reserve Total” has the meaning assigned to such term in Section 4.04.
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Related to Reserve Cap

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Reserve Amount means, for any Payment Date, the amount of cash or other immediately available funds in the Reserve Account on that Payment Date, after giving effect to all deposits to and withdrawals from the Reserve Account on such Payment Date.

  • Required Reserve Fund Amount With respect to any Distribution Date on which the Net Excess Spread is less than 0.25%, the amount, if any by which (a) the product of 1.00% and the Pool Balance for such date exceeds (b) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. With respect to any Distribution Date on which the Net Excess Spread is equal to or greater than 0.25%, the amount, if any, by which (i) $1,000 exceeds (ii) the amount on deposit in the Basis Risk Reserve Fund immediately prior to such date. Provided, however, that on any Distribution Date on which the Class Principal Amount of each Class of LIBOR Certificates has been reduced to zero, the Required Reserve Fund Amount shall be zero.

  • Required Reserve Amount means, with respect to any Payment Date, 0.25% (or such other higher percentage as may be determined by the Depositor, in its sole discretion, on or prior to the Closing Date) of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the Cutoff Date of all Receivables transferred to the Trust.

  • Replacement Reserve Monthly Deposit shall have the meaning set forth in Section 7.3.1 hereof.