Adequate Capitalization definition

Adequate Capitalization means, in respect of an Operator, such Operator (directly or through its constituent owners), immediately upon entering into the applicable Operator Ground Lease, will have equity capital invested into the applicable Component in an amount no less than ten (10%) of the value (i.e., purchase price) of the applicable Component. For the avoidance of doubt, such Operator shall have the right to acquire the applicable Component with debt financing of up to a ninety percent (90%) loan-to-value ratio. For purposes hereof, “Adequate Liquidity” shall mean, with respect to an Operator, such Operator shall have immediate access to funds (which may take the form, without limitation, of undrawn loan facilities, unfunded capital commitments of creditworthy constituent partners, shareholders or members, or lender-controlled reserves) in an amount which is no less than the lesser of (x) $2,000,000 and (y) the amount reasonably necessary to maintain the exterior of the Component and the Component’s allocable share of public areas (pursuant to the approved CAM Agreement) for the ensuing three (3) years as required under the applicable Operator Ground Lease. Authority hereby agrees and acknowledges that Related Urban Management Company, L.L.C. has sufficient experience in owning and operating similar first class improvements in a high-rise, mixed use environment in an urban core area in a major city in the United States and will have an office in Los Angeles, and is hereby approved as a Qualified Owner. Additionally, Authority hereby approves The Related Companies of California, LLC as a Qualified Owner of the Affordable Housing Units. The Authority hereby acknowledges and agrees that any subsidiary of Lessee shall be deemed a Qualified Owner.
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Examples of Adequate Capitalization in a sentence

  • Section 3.15 Solvency; Adequate Capitalization; Ability to Pay Debts...

  • Solvency; Adequate Capitalization; Ability to Pay Debts............................34 Section 3.20.

  • Section 4.7 Solvency; Adequate Capitalization; Ability to Pay Debts .................

Related to Adequate Capitalization

  • Adequate Country means a country or territory that is recognized under EU Data Protection Laws as providing adequate protection for Personal Data;

  • Adequate Assurance has the meaning given in clause 21.3(a).

  • Adequate notice means written advance notice of at least 48 hours, giving the time, date, location and, to the extent known, the agenda of any regular, special or rescheduled meeting, which notice shall accurately state whether formal action may or may not be taken and which shall be (1) prominently posted in at least one public place reserved for such or similar announcements, (2) mailed, telephoned, telegrammed, or hand delivered to at least two newspapers which newspapers shall be designated by the public body to receive such notices because they have the greatest likelihood of informing the public within the area of jurisdiction of the public body of such meetings, one of which shall be the official newspaper, where any such has been designated by the public body or if the public body has failed to so designate, where any has been designated by the governing body of the political subdivision whose geographic boundaries are coextensive with that of the public body and (3) filed with the clerk of the municipality when the public body's geographic boundaries are coextensive with that of a single municipality, with the clerk of the county when the public body's geographic boundaries are coextensive with that of a single county, and with the Secretary of State if the public body has Statewide jurisdiction. For any other public body the filing shall be with the clerk or chief administrative officer of such other public body and each municipal or county clerk of each municipality or county encompassed within the jurisdiction of such public body. Where annual notice or revisions thereof in compliance with section 13 of this act set forth the location of any meeting, no further notice shall be required for such meeting.

  • adequate information means information of a kind, and in sufficient detail, as far as is reasonably practicable in light of the nature and history of the debtor and the condition of the debtor’s books and records, including a discussion of the potential material Federal tax consequences of the plan to the debtor, any successor to the debtor, and a hypothetical investor typical of the holders of claims or interests in the case, that would enable such a hypothetical investor of the relevant class to make an informed judgment about the plan . . . .

  • Adequate security means protective measures that are commensurate with the consequences and probability of loss, misuse, or unauthorized access to, or modification of information.