Expenses Cap definition
Expenses Cap means the aggregate annual cap on Expenses applicable to the Securities Administrator, the Custodian, the Trust Agent, the Servicer, the Seller, the Issuer, the Trustee and the Guarantor, which will be equal to an aggregate maximum reimbursement of $300,000 in any calendar year; provided that, in no event, in any calendar year, will the aggregate amount of such Expenses reimbursed to (i) the Trust Agent exceed $25,000,
Expenses Cap means the amount specified as such in the Notes Data Table.
Expenses Cap means the aggregate annual cap on Expenses applicable to the Securities Administrator, the Custodian, the Trust Agent, the Servicer, the Seller, the Issuer, the Trustee and the Guarantor, equal to an aggregate maximum reimbursement of $300,000 in any calendar year; provided that, in no event, in any calendar year, will the aggregate amount of such Expenses reimbursed to (i) the Trust Agent exceed $25,000, (ii) the Securities Administrator exceed $50,000, (iii) the Servicer exceed $50,000, (iv) the Custodian exceed $25,000 and (v) the Seller, Issuer, Trustee and Guarantor exceed $150,000; provided, however, that Expenses incurred by the Trustee, the Securities Administrator or the Custodian related to or resulting from a Servicer Event of Default will not be subject to any of their respective cap amounts listed above; and provided further, that neither the Servicer nor any affiliate of the Servicer may be reimbursed for any Expense related to or arising from a Servicer Event of Default. Any Expenses in excess of the aggregate, respective limits herein (“Excess Expenses”) will be reimbursable to the Servicer, the Securities Administrator, the Custodian, the Seller, the Trust Agent, the Trustee, and the Guarantor to the extent of funds available on each Distribution Date. See “— Interest” and “— Distributions of Interest”. As of any date of determination, any Excess Expenses which remain unreimbursed after application of the applicable Expenses Cap in any calendar year, will be reimbursable, subject to the applicable Expenses Cap, to the applicable party in subsequent years.
Examples of Expenses Cap in a sentence
If, in a Calendar Year, Regulatory Costs incurred by M Local Affiliates are unusually high, the EMEA Operating Board may modify the Regulatory Expenses Cap to take into account such unusual circumstances.
For purposes hereof, any excess of HCM Transaction Expenses above the HCM Expenses Cap shall be the “HCM Expenses Overrun” and any excess of Transaction Expenses above the Expenses Cap shall be the “Company Expenses Overrun”.
In the event that such Taxes exceed the Expenses Cap, such excess amount shall be paid by the Sellers’ Representative.
Notwithstanding any other provision in the Loan Documents, Borrower’s obligation to pay the Lender Group Expenses incurred by WFCF on or before the earlier of (i) the Closing Date or (ii) July 6, 2011 is limited by the Costs and Expenses Cap (as defined in, and subject to the terms of, the Proposal Letter dated June 1, 2011 from WFCF to Borrower).
The _% Operating Expenses Cap shall be cumulative, calculated based on the 20__ Base Year.
More Definitions of Expenses Cap
Expenses Cap means EUR 150,000 (or its equivalent).
Expenses Cap means, with respect to a period consisting of twelve (12) consecutive Monthly Settlement Dates, $100,000 per annum.
Expenses Cap means the aggregate annual cap on Expenses applicable to the Securities Administrator, the Seller, the Trustee, the Master Servicer, the Master Document Custodian, the Trust Agent and the Guarantor, equal to an aggregate maximum reimbursement of $300,000 in any 12-month period; provided that, (a) in no event will the aggregate amount reimbursed to the Trust Agent exceed $25,000 in any 12-month period, (b) in no event will the aggregate amount reimbursed to the Securities Administrator exceed $50,000 in any 12-month period, (c) in no event will the aggregate amount reimbursed to the Trust Agent to cover Initial Reviewer and
Expenses Cap means, in respect of each Payment Date falling within a Transaction Year, 0.10 per cent. of the Aggregate Collateral Balance at the Payment Date on which such Transaction Year commences (or, for the first Transaction Year, the Closing Date) minus the sum of all Trustee, Agent and Collateral Administrator Fees and Expenses and all Administrative Expenses previously paid by the Issuer during such Transaction Year.
Expenses Cap has the meaning set forth in Section 8.1 of this Agreement.
Expenses Cap means EUR 80,000.
Expenses Cap means, in respect of the Notes, the per quarter amount specified as such in the Information Table apportioned across all Classes of Notes of this Series by the Issuer in its discretion but with particular reference to the Outstanding Nominal Amount of the Notes, converted (if necessary) into the applicable Specified Currency of the Notes using the then prevailing Spot Rate.