Annual Capital Expenditure Reserve means the sum of (a) an amount equal to the product of (i) $0.15 multiplied by (ii) the aggregate net rentable area, determined on a square footage basis, for retail and industrial properties, plus (b) an amount equal to the product of (i) $0.50 multiplied by (ii) the aggregate net rentable area, determined on a square footage basis, for office properties; provided, however, this definition of Annual Capital Expenditure Reserve shall not apply to any Land Assets or any Ground Leases; provided that the Borrower is not obligated for Capital Expenditures.
Annual Capital Expenditure Reserve means, as at any date of determination with respect to any Real Property on which the lease of such Real Property does not require the Tenant to pay for all capital expenditures, an amount equal to the sum of (i) for any Real Property that is not a multifamily residential property and is not leased on a triple net basis, an amount equal to the product of (x) $0.25 multiplied by (y) the aggregate net rentable area, determined on a square footage basis of such Real Property, plus (ii) for any Real Property that is a multifamily residential property, an amount equal to the product of (x) $250 multiplied by (y) the number of units in such Real Property.
Annual Capital Expenditure Reserve means, with respect to any Real Property, an amount equal to the product of (i) $50 multiplied by (ii) the number of Sites located on such Real Property.
Examples of Annual Capital Expenditure Reserve in a sentence
As at the end of any fiscal quarter or any other date of measurement, the Borrower shall not permit the sum of (a) Consolidated Cash Flow MINUS (b) Annual Capital Expenditure Reserve to be less than 2 TIMES Consolidated Debt Service, based on the most recent two (2) fiscal quarter results annualized.
More Definitions of Annual Capital Expenditure Reserve
Annual Capital Expenditure Reserve means the sum of (a) an amount equal to the product of (i) $0.15 multiplied by (ii) the aggregate net rentable area, determined on a square footage basis, for retail and industrial properties, plus (b) an amount equal to the product of (i)
Annual Capital Expenditure Reserve means the sum of (a) an amount equal to the product of (i) $0.15 multiplied by (ii) the aggregate net rentable area, determined on a square footage basis, for retail and industrial properties, plus (b) an amount equal to the product of (i) $1.00 multiplied by (ii) the aggregate net rentable area, determined on a square footage basis, for office properties, plus (c) an amount equal to the product of (i) $250 multiplied by (ii) the number of units for multifamily residential properties, plus (d) maintenance capital expenditures on the Golf Courses; provided, however, this definition of Annual Capital Expenditure Reserve shall not apply to any Land Assets or any Ground Leases; provided that the Borrower is not obligated for Capital Expenditures.
Annual Capital Expenditure Reserve means the sum of (a) an amount equal to the product of (i) $0.15 multiplied by (ii) the aggregate net rentable area, determined on a square footage basis, for retail and industrial properties, plus (b) an amount equal to the product of (i) $0.50 multiplied by (ii) the aggregate net rentable area, determined on a square footage basis, for office properties, plus (c) an amount equal to the product of (i) four percent (4.0%) multiplied by (ii) the gross revenues from any hotels, motels and resorts; provided, however, this definition of Annual Capital Expenditure Reserve shall not apply to any Land Assets or any Ground Leases; provided that the Borrower is not obligated for Capital Expenditures.
Annual Capital Expenditure Reserve means the sum of (a) an amount equal to the product of (i) $0.1510 multiplied by (ii) the aggregate net rentable area, determined on a square footage basis, for retail and industrialnet lease properties, plus (b) an amount equal to the product of (i) $0.5025 multiplied by (ii) the aggregate net rentable area, determined on a square footage basis, for officenon-retail net lease properties; provided, however, this definition of Annual Capital Expenditure Reserve shall not apply to any Land Assets or any Ground Leases with Borrower or a Subsidiary as lessor; provided that the Borrower is not obligated for such Capital Expenditures.
Annual Capital Expenditure Reserve means, as at any date of determination with respect to any Real Property on which the lease of such Real Property does not require the
Annual Capital Expenditure Reserve meansshall mean, as at any date of determination with respect to any Real Property on which the lease of such Real Property does not require the Tenant to pay for all capital expenditures, an amount equal to the sum of (i) for any Real Property that is not a multifamily residential property and is not leased on a triple net basis, an amount equal to the product of (xa) $0.25 multiplied by (yb) the aggregate net rentable area, determined on a square footage basis of such Real Property, plus (ii) for any Real Property that is a multifamily residential property, an amount equal to the product of (xa) $250 multiplied by (yb) the number of units in such Real Property.