Subordination Threshold definition

Subordination Threshold means, with respect to each Quarterly Period during the Subordination Period, the amount shown under the heading “Subordination Threshold” for such Quarterly Period on Schedule 2 or calculated in accordance with the formula set forth on Schedule 2.

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Subordination Threshold means, commencing with the second Fiscal Year, for such Fiscal Year an amount equal to ninety five percent (95%) of the agreed to Operating Budget for such Fiscal Year.

Subordination Threshold means One Million Nine Hundred Thousand Dollars ($1,900,000) during each Fiscal Year (and prorated for any partial Fiscal Year) during the Term, and increasing on the first day of each Stabilization Year during the Term, commencing with the second (2nd) Stabilization Year, by the lesser of CPI and three percent (3%) over previous Stabilization Year.

Examples of Subordination Threshold in a sentence

After reducing the Target Distribution in accordance with this Section 3.16, the Subordination Threshold shall be adjusted to 80% of the reduced Target Distribution and the Incentive Threshold shall be adjusted to 120% of the reduced Target Distribution.
In no event shall Subordinated Base Management Fee be paid from sources other than cash flow resulting from Adjusted NOI above the Subordination Threshold.
After reducing the Target Distribution in accordance with this Section 3.17, the Subordination Threshold shall be adjusted to 80% of the reduced Target Distribution and the Incentive Threshold shall be adjusted to 120% of the reduced Target Distribution.
In no event shall the Subordinated Base Management Fee be paid from sources other than cash flow resulting from Adjusted NOI above the Subordination Threshold.
In no event shall the Subordinated Operating Fee be paid from sources other than cash flow resulting from NOI above the Target Subordination Threshold.
The amount of such credit shall be an addition to the NOI used in calculating the Subordination Threshold and Incentive Management Fee Threshold.
The Subordinated Base Management Fee shall be payable to Management Company if the Facility NOI exceeds the Subordination Threshold for two consecutive calendar years by an amount equal to or greater than the Threshold Shortfall.

More Definitions of Subordination Threshold

Subordination Threshold means, for any particular quarter (through the first quarter of 2015), the amount shown in the column titled “Subordination Threshold” in the section titled “Overview” in Management’s Discussion and Analysis in this report. In order to provide support for cash distributions on the common units, ECA has agreed to subordinate the 4,401,250 Trust units it owns, which constitute 25% of the outstanding Trust units. While the subordinated units are entitled to receive pro rata distributions from the Trust if and to the extent there is sufficient cash to provide a cash distribution on the common units which is at least equal to the applicable quarterly subordination threshold, if there is not sufficient cash to fund such a distribution on all Trust units, the distribution to be made with respect to the subordinated units will be reduced or eliminated in order to make a distribution, to the extent possible, of up to the subordination threshold amount on the common units.

Subordination Threshold means, commencing with Fiscal Year 2020, an amount agreed upon by Tenant and Management Company as part of the Budget, but which in no event shall be less than One Million Nine Hundred Thousand Dollars ($1,900,000) for Fiscal Year 2020. Should Tenant expand the physical plant or add additional residential units, the foregoing thresholds may be adjusted as mutually agreed by Tenant and Manager.