Applicable Percentage Amount definition
Examples of Applicable Percentage Amount in a sentence
If the Appraisal concludes that the Fair Market Value of such Units as of the Termination Date was in excess of the aggregate Proceeds from the sale of all Units subject to this Lease, Lessee shall promptly pay to Lessor, as Supplemental Rent, such excess, which together with such Proceeds and the Applicable Percentage Amount so paid shall not exceed the Lease Balance determined immediately prior to the application of the foregoing amounts.
Except as expressly permitted by Section 7 of the Governance Agreement, the Holder may not Transfer this Contingent Payment Right or the Contingent Payment Right Shares to be issued upon Cashless Conversion hereof without the prior written approval of the Company, which shall be in the sole and absolute discretion of the Company.
If the Proceeds exceed the Lease Balance as of the Lease Expiration Date as reduced by the application of the Applicable Percentage Amount thereto, Lessee shall retain the portion of the Proceeds in excess thereof.
If the Sale Option is elected, Lessees will indemnify and hold harmless Lessor and each Certificate Purchaser, to the extent the Lease Balance remains outstanding, after application of all Proceeds and the Applicable Percentage Amount or the Recourse Deficiency Amount, as applicable, against any Claims resulting from Lessees' sale of the Units for less than their Fair Market Value, as of the last day of the Lease Term, without prior written consent of Lessor.
Lessor hereby directs Lessee to pay to Assignee, as and when due pursuant to the Lease, the Applicable Percentage Amount, all Basic Rent, all Supplemental Rent and all payments pursuant to Articles IV and VI of the Lease, purchase proceeds or avails, income, Loss Proceeds, and other sums paid or payable to Lessor pursuant to the Lease (but excluding any indemnity payments or reimbursements to Lessor from Lessee pursuant to the Lease or otherwise).
Lessor hereby directs Lessee to deliver or remit directly to Assignee at its address set forth in the Participation Agreement the Applicable Percentage Amount, all Basic Rent, all Supplemental Rent, payments pursuant to Articles IV and VI of the Lease, purchase proceeds or avails, income, Loss Proceeds and other sums paid or payable to Lessor pursuant to the Lease by wire transfer of Federal or other funds current and immediately available to Assignee on the due date thereof.
Notwithstanding anything contained herein to the contrary, the Applicable Percentage Amount, any and all Basic Rent, Supplemental Rent, payments pursuant to Articles IV and VI of the Lease, purchase proceeds or avails, income, Loss Proceeds and other sums paid to or received or collected by or on behalf of Assignee shall be paid, allocated and distributed pursuant to the terms of, and in the order of priority provided for in, Section 3.3 of the Loan Agreement.
At any time and from time to time on or after the Lease Termination Date, Agent, on behalf of Lessor and the Lenders, shall have the right to withdraw from the Sale Deposit (other than the portion thereof constituting the Applicable Percentage Amount) amounts to pay, or reimburse itself for the payment of, expenses of Lessor, Agent and each Participant in connection with any bidding and sale (or proposed sale, whether or not consummated) described in clause (b).
The "Sale Recourse Amount" shall be, at the option of Lessor, (x) the Applicable Percentage Amount or (y) the Recourse Deficiency Amount; provided, however, that in no event shall the Sale Recourse Amount exceed the Lease Balance (after taking into account all payments of Rent and Proceeds applied against the Lease Balance on the Termination Date).
Trustee, on behalf of the Certificate Purchasers and at the direction of Required Certificate Purchasers, shall notify Lessee in writing not later than five (5) Business Days prior to the Termination Date whether the Sale Recourse Amount shall be determined pursuant to CLAUSE (x) or CLAUSE (y) of the preceding sentence EXCEPT that at the end of the Base Term the Sale Recourse Amount shall be equal to the Applicable Percentage Amount.