Capital Reserves. Adjusted EBITDA shall include revenue from dividends paid from Marketable Securities, provided, however, that any such revenue which is paid on other than a quarterly basis shall be, for purposes of calculating EBITDA, allocated (as applicable) over a four-quarter period as if such revenue were paid quarterly.
Capital Reserves repay any capital reserves set up for Kvaerner plc’s, Thyssen Rheinstahl Technik Projektgesellschaft mbH or any Shareholder’s waivers of repayment claims under the shareholder loans granted by them to the Borrower unless (a) the tax audit of the accounts has accepted the amount of such capital reserves and (b) they are funded out of the Shareholders’ Account and identify such capital reserves as a separate balance sheet item;
Capital Reserves. Consolidated Adjusted EBITDA shall be adjusted to remove any impact from straight line rent leveling adjustments required under GAAP and amortization of intangibles pursuant to Statement No. 141 of the Financial Accounting Standards Board (FAS 141).
Capital Reserves. In order to satisfy the requirements of the Facility Mortgagee, Tenant shall pay, as additional rent hereunder, from and after the Rent Commencement Date, into a capital reserve fund, the amount of $12.50 per unit per month, or $12,000 per year, which funds shall be deposited into an interest bearing escrow account to be disbursed from time to time in accordance with an escrow agreement approved by Tenant and such Facility Mortgagee to pay for replacements and correction of deferred maintenance items. Any funds remaining in the account at Lease expiration shall be returned to Tenant.
Capital Reserves. Up-front reserves for the initial three-year term in interest-bearing accounts (with all interest credited monthly to the Lock-box) will also be established for ongoing capital replacements and repairs and anticipated lease rollover costs, in an amount to be determined by Lender. Upon any extension of the term of the Mortgage Loan as provided above, Borrower shall continue to maintain such reserves during the extension term in such amounts as may be required by Lender in its sole discretion.
Capital Reserves. Capital reserves include the paidup share capital in excess of par value (share premium), Bâloise Holding Ltd share options, gains and losses on the purchase and sale of treasury shares and embedded options in Bâloise Holding Ltd convertible bonds.
Capital Reserves. An amount equal to $0.20 per square foot per annum for retail assets and $0.25 per square foot per annum for office assets, calculated based on the total square footage owned at the end of each reporting period.
Capital Reserves. The Association shall maintain a reserve fund to be used solely for making capital expenditures in connection with the Common Elements (the “Capital Reserve”). The Board shall determine the appropriate level of the Capital Reserve based on a periodic review of the useful life of the improvements to the Common Elements and equipment owned by the Association as well as periodic projections of the cost of anticipated major repairs or improvements to the Common Elements or the purchase of equipment to be used by the Association in connection with its duties hereunder. Each budget shall disclose that percentage of the annual Assessment that shall be added to the Capital Reserve, and each Unit Owner shall be deemed to make a capital contribution to the Association equal to such percentage multiplied by each installment of the annual Assessment paid by such Unit Owner. Such reserves may be waived or reduced on an annual basis as determined by the Board. Extraordinary expenditures not originally included in the annual estimate that may become necessary during the year shall be charged first against such portions of any contingency reserve or Capital Reserve, as applicable, which remains unallocated. If the “estimated cash requirement” proves inadequate for any reason or in the event a non-recurring Common Expense is anticipated for any year, then the Board may prepare and approve a supplemental budget covering the estimated deficiency or non-recurring expense for the remainder of such year, copies of which supplemental budget shall be furnished to each Unit Owner, and thereupon a separate Assessment shall be made to each Unit Owner for his proportionate share of such supplemental budget. All Unit Owners shall be personally liable for and obligated to pay their respective adjusted monthly amount.
Capital Reserves. The computation of net earnings and Employee's additional compensation payable under this clause will be calculated by the Corporation's independent auditors or such other independent accounting firm as the Corporation may designate. The calculation will be completed on or before 90 days after the end of the fiscal year. Such calculation is final and binding on both parties. The Corporation will thereafter promptly send, or cause to be sent, a copy of such calculation to Employee, and will pay the sum stated in such calculation on or before 30 days after the close of the applicable year.
Capital Reserves. 36 Section 4.7 Intentionally Deleted..................................... 37 SECTION 5 OBLIGATIONS ABSOLUTE.............................................. 37 Section 5.1 Obligations of the Borrower............................... 37
