Alteration Threshold definition

Alteration Threshold means an amount equal to 5% of the outstanding principal amount of the Loan.

Alteration Threshold means, with respect to each Individual Property, five percent (5%) of the original Allocated Loan Amount (as defined in the Mortgage Loan Agreement) of such Individual Property.

Alteration Threshold means (i) with respect to each Individual Property, an amount equal to the greater of (A) 10% of the outstanding principal amount of the Allocated Loan Amount (as defined in the Mortgage Loan Agreement) attributable to such Individual Property and (B) $500,000 and (ii) with respect to the Properties in the aggregate, an amount equal to $50,000,000.

Examples of Alteration Threshold in a sentence

• Notwithstanding anything contained herein (including, without limitation, Article 7 hereof) to the contrary, Xxxxxx’s prior approval shall be required in connection with any alterations to any Improvements (a) that may have a Material Adverse Effect, (b) the cost of which (including any related alteration, improvement or replacement) is reasonably anticipated to exceed the Alteration Threshold or (c) that are structural in nature, which approval may not be unreasonably withheld, conditioned or delayed.

• Such security shall be in an amount equal to the excess of the total unpaid amounts incurred and to be incurred with respect to such alterations to the Improvements over the Alteration Threshold, taking into account any Reserve Funds on deposit and available pursuant to the terms and conditions of the Loan Documents to pay such costs.

• Notwithstanding anything contained herein (including, without limitation, Article 8 hereof) to the contrary, Xxxxxx’s prior approval shall be required in connection with any alterations to any Improvements (a) that may have a Material Adverse Effect, (b) the cost of which (including any related alteration, improvement or replacement) is reasonably anticipated to exceed the Alteration Threshold or (c) that are structural in nature, which approval may be granted or withheld in Xxxxxx’s sole discretion.

• Such security shall be in an amount equal to the excess of the total unpaid amounts incurred and to be incurred with respect to such alterations to the Improvements over the Alteration Threshold, taking into account any reserve funds on deposit and available pursuant to the terms and conditions of the Loan Documents or the Senior Loan Documents to pay such costs.

More Definitions of Alteration Threshold

Alteration Threshold means $1,000,000.00.

Alteration Threshold means the lesser of (i) five percent (5%) of the aggregate outstanding principal amount of the Loan with respect to all Alterations at any time to all of the Properties or, (ii) with respect to any affected Individual Property, fifteen percent (15%) of the Allocated Loan Amount for such Individual Property.

Alteration Threshold. As defined in Section 10.1.

Alteration Threshold means $250,000.00.

Alteration Threshold means $500,000.00.

Alteration Threshold means (a) with respect to any Individual Property undergoing an alteration and/or a Restoration and/or subject to Flagging Costs, an amount equal to $1,000,000, and (b) with respect to all Individual Properties undergoing alterations and/or Restorations and/or subject to Flagging Costs, an aggregate amount equal to five percent (5%) of the Outstanding Principal Balance, in each case excepting alterations made pursuant to an Approved Annual Budget, Approved Alterations or as otherwise reasonably approved by the Lender.

Alteration Threshold means five percent (5%) of the outstanding principal balance of the Loan.