Borrower Immediate Repair Period definition

Borrower Immediate Repair Period means, with respect to any Waived Immediate Repair Property, a period commencing, with respect to each Waived Immediate Repair Property, on the earlier to occur of: (i) the date the applicable Lease with respect to such Waived Immediate Repair Property as of the Closing Date is no longer in effect, or (ii) if the Lease with respect to such Waived Immediate Repair Property as of the Closing Date is in effect, the date on which the Tenant under such Lease shall have failed to pay and/or perform any repairs required with respect to such Waived Immediate Repair Report which are recommended to be completed within twelve (12) months of the Closing Date as identified in the Property Conditions Reports.

Examples of Borrower Immediate Repair Period in a sentence

  • In the event that a Borrower Immediate Repair Period shall occur, Borrower shall, within five (5) Business Days of such occurrence, deposit into the Immediate Repair Account an amount equal to the amount of the outstanding immediate repairs as reasonably determined by Lender with respect to the Waived Immediate Repair Property that relates to such Borrower Immediate Repair Period.

Related to Borrower Immediate Repair Period

  • Required Repairs shall have the meaning set forth in Section 7.1.1 hereof.

  • Required Repair Fund shall have the meaning set forth in Section 7.1.1 hereof.

  • Required Repair Account shall have the meaning set forth in Section 7.1.1 hereof.

  • Repair facility Means any licensed automotive REPAIR FACILITY capable of performing repair services to a COVERED PART, approved by the ADMINISTRATOR, and at which YOU seek to acquire service under this CONTRACT.

  • Dry cleaning facility means an establishment with one or more dry cleaning systems.

  • Erection, construction, remodeling, repairing means all types of work done on a particular building or work at the site thereof in the construction or development of the project, including without limitation, erecting, construction, remodeling, repairing, altering, painting, and decorating, the transporting of materials and supplies to or from the building or work done by the employees of the Contractor, Subcontractor, or Agent thereof, and the manufacturing or furnishing of

  • Construction Period means the period commencing from the Appointed Date and ending on the date of the Completion Certificate;

  • Major repair means either: (1) for a dispersal system, repairs required for an OWTS dispersal system due to surfacing wastewater effluent from the dispersal field and/or wastewater backed up into plumbing fixtures because the dispersal system is not able to percolate the design flow of wastewater associated with the structure served, or (2) for a septic tank, repairs required to the tank for a compartment baffle failure or tank structural integrity failure such that either wastewater is exfiltrating or groundwater is infiltrating.

  • Expansion Capital Expenditures means cash expenditures for Acquisitions or Capital Improvements. Expansion Capital Expenditures shall include interest (including periodic net payments under related interest rate swap agreements) and related fees paid during the Construction Period on Construction Debt. Where cash expenditures are made in part for Expansion Capital Expenditures and in part for other purposes, the General Partner shall determine the allocation between the amounts paid for each.

  • Maintenance Capital Expenditure means cash expenditures (including expenditures for the construction of new capital assets or the replacement, improvement or expansion of existing capital assets) by a Group Member made to maintain, over the long term, the operating capacity or operating income of the Partnership Group. For purposes of this definition, “long term” generally refers to a period of not less than twelve months.

  • Planned Expenditures shall have the meaning provided in the definition of the term Excess Cash Flow.

  • Excluded Expenditure means any expenditure:

  • Maintenance Capital Expenditures means cash expenditures (including expenditures for the addition or improvement to the capital assets owned by any Group Member or for the acquisition of existing, or the construction of new, capital assets) if such expenditures are made to maintain, including over the long term, the operating capacity or revenues of the Partnership Group.

  • Cost of Capital Improvement Projects means the costs of acquiring, constructing, reconstructing, expanding, improving and engineering Capital Improvement Projects, and related financing costs.

  • Emergency Repairs means repairs to a utility facility located in or adjacent to a primary city street that must be performed immediately when the necessity arises to safeguard life or property or maintain continued operation of the facility.

  • Enclosed, locked facility means a building, room, greenhouse, outdoor fenced-in area, or other location that is enclosed on all sides and prevents cannabis from easily being viewed by the public. The facility shall be equipped with locks or other security devices that permit access only by:

  • Project Costs means all allowable costs, as set forth in the applicable Federal cost principles, incurred by a recipient and the value of the contribu- tions made by third parties in accom- plishing the objectives of the award during the project period.

  • Repairs means the repairs to be made to the Mortgaged Property, as described on the Repair Schedule of Work (Exhibit C) or as otherwise required by Lender in accordance with this Loan Agreement.

  • Project Cost means the costs incurred in connection with the

  • project completion period means the period of sixty (60) months commencing from and expiring on for the construction and obtaining of Temporary Occupation Permit or Permits for the whole of the Development as provided in clause 3.3;

  • Project Completion Date means the date on which the Completion Certificate is issued;

  • Asset Coverage Test has the meaning given to it in Schedule 2 of the Guarantor Agreement;

  • demolition work means a method to dismantle, wreck, break, pull down or knock down of a structure or part thereof by way of manual labour, machinery, or the use of explosives;

  • Capital Improvement Project means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, appurtenances to roads and bridges to enhance the safety of animal-drawn vehicles, pedestrians, and bicycles, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities including real property, interests in real property, facilities, and equipment related or incidental to those facilities.

  • Unauthorised expenditure , means any expenditure incurred by a municipality otherwise than in accordance with section 15 or 11(3) of the MFMA, and includes-

  • Project means the goods or Services described in the Signature Document or a Work Order of this Contract.