Fixed Obligations definition
Examples of Fixed Obligations in a sentence
Excluded from the above transactions are transactions through ATMs, EFT/POS, Internet and Phone Banking, Electronic Credits, Fixed Obligations Servicing and other I.T. systems of the Bank; also account crediting with payroll proceeds, account debiting for placements in investment products, interest posting and cancellation/correction of reverse entries.
The term "Fixed Obligations" shall mean obligations for real estate taxes, debt service and utilities.
The Senior Fixed Collateral Intercreditor Agreement allocates the benefits of the Shared Collateral among the holders of the Senior Fixed Obligations.
The Senior Fixed Collateral Intercreditor Agreement allocates the benefits of the Shared Collateral among the holders of the Senior Fixed Obligations (including, from and after the Escrow Release Date, the Obligations).
The Senior Lender Intercreditor Agreement defines the relative rights, as lienholders, between the holders of the Revolving Facility Obligations on the one hand and the holders of the Senior Fixed Obligations on the other hand.
Notwithstanding that Manager is authorized to and shall make the above-referenced disbursements in the order set forth and to the extent funds are available, Owner solely will be liable for all Fixed Obligations, Operating Costs, and all other costs or expenses of any kind associated with the Facility, and Manager shall have no liability or obligation with respect thereto.
From and after the Escrow Release Date, the Senior Lender Intercreditor Agreement shall define the relative rights, as lienholders, between the holders of the Revolving Facility Obligations on the one hand and the holders of the Senior Fixed Obligations (including, from and after the Escrow Release Date, the Obligations) on the other hand.
Maintain at all times the ratio of Borrowers' Cash Flow to Fixed Obligations at no less than 1.25 to 1.0. Borrowers' ratio of Cash Flow to Fixed Obligations shall be tested quarterly upon receipt of Borrower's quarterly consolidated Financial Statements, on a rolling four-quarter historical basis commencing with the four consecutive Calendar Quarters ending December 31, 1997.
Obligations (other than "Fixed Obligations") so incurred by Manager on behalf of Owner in excess of the amount of such obligations provided for in the Approved Annual Budget and not specifically otherwise approved by the Owner (except for costs of emergency matters referred to in Section 5.4) shall be applied against the contingency amount, and the balance from time to time of such contingency amount is hereinafter sometimes referred to as the uncommitted portion of the contingency amount.
The Annual Budget shall provide for a contingency amount of at least 5% of the total operating expenditures (exclusive of 'Fixed Obligations' and any non-cash items) set forth in the "Approved Annual Budget' (as hereinafter defined) in the aggregate which may be disbursed by Manager to the extent otherwise permitted hereunder.