Operating Losses. To the extent there is an Operating Loss for any calendar month, Owner shall have the right, without any obligation and in its sole discretion, to fund such Operating Loss within twenty (20) days after Manager has delivered notice thereof to Owner and any Operating Loss funded by Owner shall be a “Owner Operating Loss Advance.” If Owner does not fund such Operating Loss, Manager shall have the right, without any obligation and in its sole discretion, to fund such Operating Loss within twenty (20) days after such initial twenty (20) day period, and any Operating Loss so funded by Manager shall be an Additional Manager Advance. If neither party elects to fund such Operating Loss, Manager may elect, by notice to Owner given within thirty (30) days thereafter, to terminate this Agreement, which termination shall be effective thirty (30) days after the date such notice is given; upon such termination, Owner shall pay Manager the Termination Fee, within sixty (60) days of the effective date of termination, as liquidated damages and in lieu of any other remedy of Manager at law or in equity and such termination shall otherwise be in accordance with the provisions of Section 11.09.
Operating Losses. Credit ------------------------
Operating Losses. Operating Losses of the Partnership for each taxable year of the Partnership shall be allocated among the Partners as follows:
Operating Losses. Schedule 3.29 sets forth any Operating Loss (as ----------------- -------------- defined below) that has occurred at Palomar and Service Corporation during the period after December 31, 1996. To the best of Palomar's knowledge, except as set forth on Schedule 3.29, since December 31, 1996, no event has occurred, and ------------- no action has been taken or omitted to be taken by any employee of Palomar or Service Corporation that has resulted in the occurrence by Palomar or Service Corporation of an Operating Loss or that might reasonably be expected to result in the occurrence by Palomar or Service Corporation of an Operating Loss after December 31, 1996, which, net of any insurance proceeds payable in respect thereof, exceeds, or would exceed $25,000 by itself or $50,000 when aggregated with all other Operating Losses during such period. For purposes of this Agreement, "Operating Loss" means any loss resulting from cash shortages, lost or misposted items, disputed clerical and accounting errors, forged checks, payment of checks over stop payment orders, counterfeit money, wire transfers made in error, theft, robberies, employee dishonesty, defalcations, check kiting, fraudulent use of credit cards or electronic teller machines, civil money penalties, fines, litigation, claims, arbitration awards or other similar acts or occurrences.
Operating Losses. Permit Borrower (and its Subsidiaries, on a consolidated basis) to have any calendar quarter of net operating losses.
Operating Losses. 26 4.25 Loan Portfolio..............................................................26
Operating Losses. Seller's Disclosure Letter sets forth any Operating Loss, which has occurred at Seller during the period after December 31, 2004. To the knowledge of Seller, no action has been taken or omitted to be taken by an employee of Seller that has resulted in the incurrence by Seller of an Operating Loss or that might reasonably be expected to result in an Operating Loss after December 31, 2004, which, net of any insurance proceeds payable in respect thereof, would exceed $25,000. "Operating Loss" means any loss resulting from cash shortages, lost or misposted items, disputed clerical and accounting errors, forged checks, payment of checks over stop payment orders, counterfeit money, wire transfers made in error, theft, robberies, defalcations, check kiting, fraudulent use of credit cards or electronic teller machines or other similar acts or occurrences.
Operating Losses. Owner shall be solely responsible for any Operating Losses.
Operating Losses. BAB has furnished to GBB a list (the "BAB ---------------- Operating Losses List") setting forth any Operating Loss (as herein defined) which has occurred at BAB during the period after December 31, 1997 to the date of the Agreement. To the knowledge of BAB, no action has been taken or omitted to be taken by any employee of BAB that has resulted in the incurrence by BAB of an Operating Loss or that might reasonably be expected to result in the incurrence of any individual Operating Loss which, net of any insurance proceeds payable in respect thereof, would exceed $25,000 on an individual basis or in the aggregate. For purposes of this section "Operating Loss" means any loss resulting from cash shortages, lost or misposted items, disputed clerical and accounting errors, forged checks, payment of checks over stop payment orders, counterfeit money, wire transfers made in error, theft, robberies, defalcations, check kiting, fraudulent use of credit cards or ATMs, civil money penalties, fines, litigation, claims or other similar acts or occurrences.
Operating Losses. Target's Disclosure Letter sets forth any Operating Loss which has occurred at Target Bank during the period after December 31, 2000. To the knowledge of Target Bank, no action has been taken or omitted to be taken by an employee of Target Bank that has resulted in the incurrence by Target Bank of an Operating Loss or that might reasonably be expected to result in an Operating Loss after December 31, 2000, which, net of any insurance proceeds payable in respect thereof, would exceed $25,000 "Operating Loss" means any loss resulting from cash shortages, lost or misposted items, disputed clerical and accounting errors, forged checks, payment of checks over stop payment orders, counterfeit money, wire transfers made in error, theft, robberies, defalcations, check kiting, fraudulent use of credit cards or electronic teller machines or other similar acts or occurrences.
