Reserve Disbursement Conditions definition

Reserve Disbursement Conditions means (i) Borrower shall have submitted a request for payment to Lender at least ten (10) days prior to the date on which Borrower has requested such payment be made, which request specifies the Approved FF&E Expenses, Additional PIP Work or Initial PIP Work, as applicable, to be paid, (ii) on the date such request is received by Lender and on the date such payment is to be made, no Event of Default shall exist and remain uncured, and (iii) Lender shall have received (a) an Officer’s Certificate from Borrower (1) in the case of a requested disbursement of FF&E Reserve Funds or Initial PIP Reserve Funds, stating that the items to be funded by the requested disbursement are Approved FF&E Expenses, Additional PIP Work or Initial PIP Work, as applicable, and a description thereof, (2) stating that all Approved FF&E Expenses, Additional PIP Work or Initial PIP Work, as applicable, to be funded by the requested disbursement have been (x) completed in a good and workmanlike manner and in accordance with all applicable Legal Requirements or (y) in the case of a disbursement in respect of a deposit requested under Section 6.5.2(g) or Section 6.7.2(e), is a deposit due in respect of Approved FF&E Expenses, Additional PIP Work or Initial PIP Work, as applicable, (3) identifying each Person that supplied materials or labor in connection with the Approved FF&E Expenses, Additional PIP Work or Initial PIP Work, as applicable, to be funded by the requested disbursement, (4) stating that each such Person has been paid in full or will be paid in full upon such disbursement, (5) stating that the FF&E Work, Additional PIP Work and/or Initial PIP Work, as applicable, to be funded have not been the subject of a previous disbursement of FF&E Reserve Funds or Initial PIP Reserve Funds, (6) stating that all previous disbursements of FF&E Reserve Funds or Initial PIP Reserve Funds, as applicable, have been used to pay the previously identified FF&E Work, Additional PIP Work or Initial PIP Work, as applicable, and (7) stating that all outstanding trade payables (other than those to be paid from the requested disbursement or those constituting Permitted Indebtedness) have been paid in full, (b) a copy of any license, permit or other approval by any Governmental Authority required in connection with the FF&E Work, Additional PIP Work and Initial PIP Work, as applicable, and not previously delivered to Lender, (c) lien waivers (which may be conditioned upon payment of the requested di...
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Reserve Disbursement Conditions is defined in Section 8.8.
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Reserve Disbursement Conditions has the meaning specified in Section 9.01(b) .
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Examples of Reserve Disbursement Conditions in a sentence

  • SPECIAL PROTECTIVE EQUIPMENT FOR FIRE-FIGHTERS Normal firefighting clothing i.e., fire kit (BS EN 469), gloves (BS EN 659) and boots (HO specification A29 and A30) in combination with self-contained open circuit positive pressure compressed air breathing apparatus (BS EN 137).

  • Lender shall, or shall direct Servicer to, disburse the PIP Funds to Borrower out of the PIP Account upon satisfaction by Borrower of each of the following conditions with respect to each such disbursement: (i) such disbursement is for PIP Work and (ii) Borrower shall have satisfied each of the Reserve Disbursement Conditions with respect to each such disbursement.

  • In the event that the Five Year Section 8 Extension is not granted, then the General Partner shall receive fifteen percent (15%) of the balance of the Operating Deficit Reserve upon each one-year renewal of said HUD Section 8 contracts, provided that the Reserve Disbursement Conditions are met prior to each disbursement of said funds.

  • En 2001, deux projets visant à expérimenter concrètement la CDM sur deux aéroports (Bruxelles et Barcelone) ont été mis au point par le domaine PFE (Performance, Flow Management, Economics and Efficiency) du CEE.

  • Upon written application, Borrower shall be entitled to draw upon the Replacement Reserve to pay for the costs for which the Replacement Reserve has been established after such costs shall have been incurred by Borrower and invoiced, provided that the Reserve Disbursement Conditions shall have been satisfied.

  • Lender shall make disbursements from the Replacement Reserve Funds for the cost of the Replacements incurred by Borrower upon satisfaction by Borrower of each of the Reserve Disbursement Conditions with respect to each such disbursement.

  • Lender shall make disbursements from the Rollover Reserve Funds for Approved Leasing Expenses incurred by Borrower in connection with Leases (including amendments thereto) entered into in accordance with the terms hereof upon satisfaction by Borrower of each of the Reserve Disbursement Conditions with respect to each such disbursement.

Related to Reserve Disbursement Conditions

  • Final Disbursement Date means the last date on which Lender may make a Disbursement set forth in Section 10 of the Loan Authorization Agreement (including as amended by an Extension) or, if such date is not a Business Day, the next succeeding Business Day; provided, however, to the extent that Lender has not received cash collateral in the amount of the Letter of Credit Obligations or an equivalent full indemnity from Borrower or Guarantor, as applicable, with respect to Letter of Credit Obligations outstanding on the Final Disbursement Date, the Final Disbursement Date with respect to an advance to fund a drawing under such Letter of Credit shall be no later than thirty (30) days after any such drawing which may be no later than the expiry date of the Letter of Credit related thereto.

  • L/C Disbursements a payment or disbursement made by the Issuing Lender pursuant to a Letter of Credit.

  • Designated Disbursement Account means the account of the Borrower maintained with the Administrative Agent or its Affiliate and designated in writing to the Administrative Agent as the Borrower’s Designated Disbursement Account (or such other account as the Borrower and the Administrative Agent may otherwise agree).

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

  • L/C Disbursement means a payment or disbursement made by an Issuing Bank pursuant to a Letter of Credit.

  • Disbursement is defined in Section 2.6.2.

  • Termination Date Disbursement means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Termination Date Demand.

  • Disbursement Rate means an annual rate of interest, as of the date of determination, equal to the greater of (a) eight percent (8%) and (b) the per annum rate for ten (10) year U.S. Treasury Obligations as published in The Wall Street Journal plus three hundred (300) basis points; provided, however, that in no event shall the Disbursement Rate exceed eleven and one-half percent (11.5%).

  • Availability Payment means the payment to Owner described in Section 8.1 for Condition 1 and 8.2 for Condition 2.

  • Advance Reimbursement Amount has the meaning stated in Section 4.4(b) of the Servicing Supplement.

  • Controlled Disbursement Account means any accounts of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • Management Advances means loans or advances made to, or Guarantees with respect to loans or advances made to, directors, officers, employees or consultants of any Parent, the Company or any Restricted Subsidiary:

  • Loan Disbursement Handbook means ADB’s Loan Disbursement Handbook (2012, as amended from time to time);

  • Disbursement Date is defined in Section 2.6.2.

  • Advance Reimbursement Amounts As defined in Section 3.29 hereof.

  • Termination Disbursement means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Termination Demand.

  • Agent Advance shall have the meaning provided in Section 2.01(e).

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Required Reserve Factor Floor means, for any Calculation Period, the sum (expressed as a percentage) of (a) 28.00% plus (b) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the immediately preceding Cut-Off Date.

  • Lease Deficit Disbursement means an amount drawn under a Multi-Series Letter of Credit pursuant to a Certificate of Lease Deficit Demand.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Payment Date Advance Reimbursement has the meaning set forth in Section 8.03(a)(iii)(A) of the 20[•]-[•] Servicing Supplement.

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

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • Non-Availability Charges has the meaning set forth in the CAISO Tariff.