Capital Improvement Reserve definition

Capital Improvement Reserve shall have the meaning as set forth in Section 8.02A.

Capital Improvement Reserve. As defined in Section 9.1(e).

Capital Improvement Reserve has the meaning set forth in Section 6.5.

Examples of Capital Improvement Reserve in a sentence

• Cash deposited by the Borrowers with Lender in connection with any Material Alteration pursuant to the foregoing sentence shall be held by Lender in a Sub-Account of the Lock Box Account and disbursed to the Borrowers to pay for the cost of such Material Alteration as such work progresses subject to satisfaction of the conditions for disbursement of amounts from the Capital Improvement Reserve under Section 6.5 (including the requirements set forth under Section 6.7).

• For any period, the sum of the Consolidated EBITDA for such period less the Capital Improvement Reserve.

• Funds held in the Capital Improvement Reserve shall be disbursed in accordance with Section 6.7. Subject to the foregoing conditions, the Borrowers shall be entitled to draw any remaining balance in the Capital Improvement Reserve when all Required Capital Improvements are complete, and paid for, in accordance with the terms hereof.

• Funds held in the Capital Improvement Reserve shall be disbursed in accordance with Section 6.7. Subject to the foregoing conditions, but also subject to the last paragraph of Section 11.4, the Borrowers shall be entitled to draw any remaining balance in the Capital Improvement Reserve when all Required Capital Improvements are complete, and paid for, in accordance with the terms hereof.

• Funds held in the Capital Improvement Reserve shall be disbursed only in accordance with Section 6.7 of the Mortgage Loan Agreement.

More Definitions of Capital Improvement Reserve

Capital Improvement Reserve. SUB-ACCOUNT" as defined in Section 2.1(c).

Capital Improvement Reserve means $0.25 per annum per square foot of mall store gross leasable area in Real Property, and in that portion of real property owned by Minority Holdings allocable, on a pro rata basis, to the Borrower or any of its Subsidiaries.

Capital Improvement Reserve means, for any period, an amount equal to thirty cents ($0.30) multiplied by the weighted average of rentable square footage of Real Estate owned by the Borrower and its Subsidiaries during such period.

Capital Improvement Reserve. (a) $0.25 per annum per square foot of mall store gross leasable area in Real Property and (b) $0.30 per annum per square foot of office gross leasable area in Real Property, in each case, owned by any Consolidated Entity, and in that portion of real property owned by Minority Holdings allocable, on a pro rata basis, to Holdings or any Consolidated Entity.

Capital Improvement Reserve. With respect to an Unencumbered Operating Property, a reserve in the amount of ten cents ($0.10) per annum multiplied by the average Net Rentable Area contained therein.

Capital Improvement Reserve means, with respect to a Borrowing Base Property, an amount equal to the product obtained by multiplying (a) the aggregate rental income and other income from the operation of such Borrowing Base Property for the most recently completed fiscal quarter by (b) 0% during the first two years of operation of such Borrowing Base Property, 0.75% during the third through seventh years of operation of such Borrowing Base Property, 1.00% during the eight through twelfth years of operation of such Borrowing Base Property and 1.50% at any time after the completion of the twelfth year of operation of such Borrowing Base Property.

Capital Improvement Reserve. With respect to any Real Estate now or hereafter owned or leased by the Borrower, REA, any Guarantor or any of their respective Subsidiaries, a reserve for Capital Improvement Projects, leasing commissions and tenant improvements in an amount equal to (i) fifteen cents ($.15) multiplied by the Net Rentable Area contained therein for industrial properties, (ii) seventy-five cents ($.75) multiplied by the Net Rentable Area contained therein for office properties, (iii) twenty-five cents ($.25) multiplied by the Net Rentable Area contained therein for any strip mall retail shopping center that the Borrower may be permitted to acquire under Section 8.3 hereof and (iv) the amount reasonably determined by the Agent in its good faith business judgment with respect to any other type of Real Estate that the Majority Lenders may elect in their sole discretion to approve as Eligible Real Estate in accordance with this Agreement. Capitalized Lease. A lease under which the discounted future rental payment obligations of the lessee or the obligor are required to be capitalized on the balance sheet of such Person in accordance with GAAP. CERCLA. See Section 6.20.