Surplus Cash definition

Surplus Cash means, with respect to any period, any revenues of Borrower remaining after paying, or setting aside funds for paying, all the following:

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Surplus Cash is defined in Section 15.

Surplus Cash is defined herein to mean the same as that term is defined in the Regulatory Agreement between Borrower and HUD.

Examples of Surplus Cash in a sentence

• The promissory note evidencing the Subordinate Note obligates Borrower to make payments as follows: no interim payments are due and payable prior to Maturity, subject to available Surplus Cash.

• Notwithstanding anything to the contrary set forth in this Lease, the payment of Tenant’s indemnification obligations under this Lease is restricted to available Surplus Cash, as such term is defined in the Regulatory Agreement for Multifamily Projects executed by Tenant and U.S. Department of Housing and Urban Development, and available liability insurance proceeds.

• As long as HUD is the insurer or holder of the Senior Note on FHA Project No. , any payments due from project income under the Subordinate Note shall be payable only (i) from permissible distributions from Surplus Cash of the Project; but in no event greater than seventy-five percent (75%) of the total amount of Surplus Cash; or (ii) from monies received from Non-Project Sources.

• To the extent funds are available from Surplus Cash, the Partnership shall pay to the County an additional six percent (6%) of the Project's Gross Rental Income.

• To the extent funds are available from Surplus Cash, the Partnership shall pay to the County an additional five and one-half percent (5½%) of the Project's Gross Rental Income.

More Definitions of Surplus Cash

Surplus Cash has the meaning specified in the HUD Regulatory Agreement.

Surplus Cash means any Borrower’s cash remaining in Project-related accounts at the close of business on the last day of the Project’s semi-annual fiscal period, as further described in Program Obligations.

Surplus Cash means any cash remaining after: (1) the payment of: (i) All sums due or currently required to be paid under the terms of any mortgage or note insured or held by the Secretary; (ii) All amounts required to be deposited in the reserve fund for replacements; (iii) All obligations of the project other than the insured mortgage unless funds for payment are set aside or deferment of payment has been approved by the Secretary; and (2) the segregation of: (i) An amount equal to the aggregate of all special funds required to be maintained by the project; and (ii) All tenant security deposits held.

Surplus Cash means certain Project cash pursuant to the calculation set forth in Section 13.

Surplus Cash means any cash remaining at the end of a calendar year after the payment of:

Surplus Cash has the meaning set forth in the Healthcare Regulatory Agreement – Borrower between Borrower and HUD.

Surplus Cash means any cash remaining after: (i) the payment of (1) all sums due or currently required to be paid by Borrower under the Loan Documents, including any required deposits into reserves; and (2) all of Borrower’s obligations relating to the Project other than those required to be paid under the Loan Documents, unless funds for such payments have been set aside or deferment of payment has been approved by HUD; and (ii) the segregation of all amounts required to be held in trust (e.g., tenant security deposits) and all amounts required to be held (segregated) in other restricted asset accounts of the Project (e.g., Reserve for Replacements) pursuant to this Agreement, the Loan Documents and Program Obligations.