Restoration Threshold definition

Restoration Threshold means with respect to each Individual Property, five percent (5%) of the original Allocated Loan Amount of such Individual Property.

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Restoration Threshold means an amount equal to 5% of the outstanding principal amount of the Loan.

Restoration Threshold means, as of any date, the lesser of (a) two and one-half percent (2.5%) of the replacement value of the improvements at the affected Project as of such date, and (b) $500,000.00.

Examples of Restoration Threshold in a sentence

• Lender shall have the right to participate in and reasonably approve any settlement for insurance or condemnation claims with respect to the insurance proceeds or condemnation awards which in the aggregate are equal to or greater than the Restoration Threshold.

• In the event of a Casualty where the loss and the applicable Net Proceeds are less than the Restoration Threshold, Borrower may settle and adjust such claim provided that (a) no Event of Default has occurred and remains outstanding and (b) such adjustment is carried out in a commercially reasonable and timely manner.

• In the event of a Casualty where the loss or the applicable Net Proceeds are equal to or greater than the Restoration Threshold or if an Event of Default has occurred and remains outstanding, Borrower may permit Mortgage Borrower to settle and adjust such claim only with the prior consent of Lender (which consent shall not be unreasonably withheld or delayed) and Lender shall have the opportunity to participate, at Borrower’s cost and expense, in any such adjustments.

• In the event of a Casualty where the loss and the applicable Net Proceeds are less than the Restoration Threshold, Borrower may permit Mortgage Borrower to settle and adjust such claim provided that (a) no Event of Default has occurred and remains outstanding and (b) such adjustment is carried out in a commercially reasonable and timely manner.

• In the event of a Casualty where the loss or the applicable Net Proceeds are equal to or greater than the Restoration Threshold or if an Event of Default has occurred and remains outstanding, Borrower may settle and adjust such claim only with the prior consent of Lender (which consent shall not be unreasonably withheld or delayed) and Lender shall have the opportunity to participate, at Borrower’s cost and expense, in any such adjustments.

More Definitions of Restoration Threshold

Restoration Threshold shall have the meaning set forth in the Mortgage Loan Agreement.

Restoration Threshold means Ten Million Dollars ($10,000,000.00).

Restoration Threshold means the greater of (x) $250,000 or (y) five percent (5%) of the Aggregate Allocated Loan amount of the applicable Property, not to exceed $500,000, per Property per occurrence.

Restoration Threshold means an amount equal to three percent (3%) of the outstanding principal balance of the Loan.

Restoration Threshold shall have the meaning set forth in Section 6.2.3(a) hereof.

Restoration Threshold means an amount equal to 5% of the outstanding principal amount of the Loan. “Restricted Account” shall have the meaning set forth in Section 9.1 hereof.

Restoration Threshold means an amount equal to 2% of the outstanding principal balance of the Loan.