Reserve Waiver Conditions definition

Reserve Waiver Conditions means each of the following: (i) no Event of Default has occurred and is continuing, (ii) the Lease with the applicable Reserve Waiver Tenant is in full force and effect with no defaults thereunder, (iii) the Reserve Waiver Tenant continues to make the payments and perform the obligations required under its Lease, in each case, relating to the obligations and liabilities for which the applicable Reserve Account was established and Borrower delivers evidence of the same to Lender along with its annual financial reporting and at any other time reasonably requested by Lender, (iv) the Reserve Waiver Tenant is not bankrupt or insolvent, and (v) the Reserve Waiver Tenant has not expressed its intention in writing to
Reserve Waiver Conditions means: (a) with respect to Taxes, each of the following: (i) no Event of Default has occurred and is continuing, (ii) Taxes have been paid to an Official Body prior to delinquency in accordance with Section 2.3.7 hereof, and (iii) Lender has received the original or a certified copy of a receipt issued by such Official Body evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to Lender; and (b) with respect to Insurance Premiums, each of the following: (i) no Event of Default has occurred and is continuing, (ii) the Property is covered by a blanket or umbrella insurance policy that is in compliance with Section 7.1(d) hereof, (iii) all such Insurance Premiums have been paid at least thirty (30) days prior to the expiration of the Policy or Policies, and (iv) Lender has received evidence of such payment reasonably satisfactory to Lender.
Reserve Waiver Conditions shall be deemed to exist if, upon the occurrence of any Renewal Trigger Period, Borrower shall deposit cash into the Renewal Tenant Reserve Account (or shall deliver to Lender a Letter of Credit which shall serve as additional collateral for the Loan), in an amount equal to $10,000,000.

Examples of Reserve Waiver Conditions in a sentence

  • If at any time any or all of the Capital Expenditure Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately begin and shall continue to fund the Capital Expenditure Account on account of Capital Expenditures as provided herein.

  • If at any time any or all of the Rollover Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately begin and shall continue to fund the Rollover Account on account of tenant improvements and leasing commissions as provided herein.

  • If at any time any or all of the Tax Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately commence and shall continue to fund the Tax Account on account of Taxes as provided herein.

  • Notwithstanding any provisions of Section 6.4.1(a) hereof to the contrary, provided and on condition that each of the Capital Expenditure Reserve Waiver Conditions Precedent are satisfied and remain satisfied at all times, Borrower shall not be required to make the initial deposit to the Capital Expenditure Account on account of Capital Expenditures or make the Monthly Capital Expenditure Deposit on account of Capital Expenditures as provided herein.

  • If at any time any or all of the Insurance Reserve Waiver Conditions Precedent are no longer met, Borrower shall immediately begin and shall continue to fund the Insurance Account on account of Insurance Premiums as provided herein.

  • If at any time during the term of the Loan Borrower fails to satisfy the Reserve Waiver Conditions with respect to the Monthly Property Tax Deposit, Borrower shall make a True Up Payment with respect to the same into the Property Tax and Insurance Escrow Account.

  • If at any time during the term of the Loan Borrower fails to satisfy the Reserve Waiver Conditions with respect to the Monthly Insurance Premium Deposit, Borrower shall make a True Up Payment with respect to the same into the Property Tax and Insurance Escrow Account.

  • Notwithstanding the foregoing, Borrower shall immediately be required to make necessary deposits to and Lender will update the amount of the monthly deposit under Section 8.6 which Borrower is required to make if at any time any of the Reserve Waiver Conditions are not satisfied in full for such Reserve Waiver Tenant.

  • Notwithstanding the foregoing, Lender agrees to waive the requirement for the Monthly Insurance Premium Deposit so long as the Reserve Waiver Conditions are satisfied.

  • Notwithstanding the foregoing, Lender agrees to waive the requirement for Monthly Property Tax Deposits so long as the Reserve Waiver Conditions are satisfied.


More Definitions of Reserve Waiver Conditions

Reserve Waiver Conditions means each of the following: (i) no Event of Default has occurred and is continuing, (ii) the Lease with the applicable Reserve Waiver Tenant is in full force and effect with no defaults thereunder, (iii) the Reserve Waiver Tenant continues to make the payments and perform the obligations required under its Lease, in each case, relating to the obligations and liabilities for which the applicable Reserve Account was established and Borrower delivers evidence of the same to Lender along with its annual financial reporting and at any other time reasonably requested by Lender, (iv) the Reserve Waiver Tenant is not bankrupt or insolvent, and (v) the Reserve Waiver Tenant has not expressed its intention in writing to 41458-110/JANAF Shopping Yard (VA) terminate, cancel or default under its Lease (including, without limitation, in connection with any rejection in any bankruptcy or similar insolvency proceeding).

Related to Reserve Waiver Conditions

  • Offer Conditions has the meaning set forth in Section 1.01(b).

  • OTHER CONDITIONS Any subsequent contracts shall supersede the provisions of this contract. PARTIES: The Fort Xxxxx School District 100, Party of the First Part, and XXXXXXX X XXXXXXX Party of the Second Part, agree as follows:

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Extension Conditions Defined in Section 3.06(a).

  • Specific Conditions means the conditions in addition or in variation to the general conditions which the Commission may lay down specifically for a distribution licensee;

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • LC Conditions has the meaning given to such term in Section 2.9.

  • Additional Conditions means the terms and conditions set out in the Offer Document.

  • Litigation Conditions has the meaning set forth in Section 11.3.

  • Minimum Condition has the meaning set forth in Annex I.

  • Payment Conditions means, at the time of determination with respect to a proposed payment to fund a Specified Transaction, that:

  • Regulatory Conditions means the conditions set out in paragraphs 3.3 to 3.5 (inclusive) of Part A of Appendix I to the Announcement;

  • Review Conditions means (i) the Delinquency Percentage for any Payment Date exceeds the Delinquency Trigger for that Payment Date and (ii) the Noteholders or Note Owners, as applicable, have voted, pursuant to Section 2.03(d) of the Receivables Purchase Agreement, to direct an Asset Representations Review of the Subject Receivables.

  • Extension Minimum Condition means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.

  • Minimum Tender Condition shall have the meaning provided in Section 2.15(b).

  • Funding Conditions With respect to any proposed Funding Date, the following conditions:

  • Supplemental Conditions means those terms and conditions, if included in the Agreement by mutual written agreement of the Parties, which add to or modify the Agreement and are incorporated by reference as if fully set forth in the Agreement. In the case of a conflict between the Supplemental Conditions and the Agreement, the Supplemental Conditions shall prevail.

  • Release Conditions mean the following conditions: (i) Company has received the Executive’s executed Release and (ii) any rescission period applicable to the Executive’s executed Release has expired.

  • Normal Operating Conditions means those Service conditions which are within the control of Grantee. Those conditions which are not within the control of Grantee include, but are not limited to, natural disasters, civil disturbances, power outages, telephone network outages, and severe or unusual weather conditions. Those conditions which are ordinarily within the control of Grantee include, but are not limited to, special promotions, pay-per-view events, rate increases, regular peak or seasonal demand periods, and maintenance or upgrade of the Cable System.

  • Maximum Tender Condition has the meaning specified in Section 2.17(b).

  • Distribution Conditions means, with respect to any Restricted Payment or Restricted Junior Debt Prepayment, the following:

  • Product Conditions means these product terms and conditions. These Product Conditions apply to each series of cash settled Warrants over single equities;

  • Minimum Balance Requirements The minimum balance to open the account is $5.00. If the balance falls below $5 at any time, the account may be closed. See Balance Computation Method above. Fees and Charges; Other Requirements: See our Schedule of Fees at xxxxxxx.xxx/xxxx. Dividends: See Disclosures Concerning Dividends above. Current rates are disclosed on the Credit Union’s website.

  • Closing Conditions shall include, but are not limited to, SI Securities determining in its sole discretion that at the time of a closing, the Minimum Offering has been met, the investment remains suitable for investors, investors have successfully passed ID, KYC, AML, OFAC, and suitability screening, and that Issuer has completed all actions required by it as communicated by SI Securities at the time of a closing.

  • Pre-Existing Conditions means, in respect of the Insured Person, any Sickness, Disease, Injury, physical, mental or medical condition or physiological degradation, including Congenital Condition, that has existed prior to the Policy Issuance Date or the Policy Effective Date, whichever is the earlier. An ordinary prudent person shall be reasonably aware of a Pre- existing Condition, where -

  • Refinancing Conditions the following conditions for Refinancing Debt: (a) it is in an aggregate principal amount that does not exceed the principal amount of the Debt being extended, renewed or refinanced; (b) it has a final maturity no sooner than, a weighted average life no less than, and an interest rate no greater than, the Debt being extended, renewed or refinanced; (c) it is subordinated to the Obligations at least to the same extent as the Debt being extended, renewed or refinanced; (d) the representations, covenants and defaults applicable to it are no less favorable to Borrowers than those applicable to the Debt being extended, renewed or refinanced; (e) no additional Lien is granted to secure it; (f) no additional Person is obligated on such Debt; and (g) upon giving effect to it, no Default or Event of Default exists.