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 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.
Examples of Alteration Threshold in a sentence
Such security shall be in an amount equal to the excess of the total unpaid amounts with respect to such alterations to the Improvements over the Alteration Threshold and applied from time to time at the option of Lender to pay for such alterations or to terminate any of the alterations and restore the Property to the extent necessary to prevent any material adverse effect on the value of the Property.
More Definitions of Alteration Threshold
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.
Alteration Threshold means $1,000,000.00.
Alteration Threshold. As defined in Section 10.1.
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.
Alteration Threshold means an amount equal to four percent (4%) of the outstanding principal balance of the Loan.