Management Reserve definition
Management Reserve means, as of any date of determination and with respect to each Property for the period of four (4) consecutive fiscal quarters most recently ended on or prior to such date of determination, an amount equal to the greater of (a) three percent (3.0%) per annum of the aggregate rent (including base rent and percentage rent) due and payable under Leases with respect to such Property and (b) all actual management or similar fees payable in respect of such Property during such period.
Management Reserve means, with respect to all Unencumbered Properties for any fiscal period, an amount equal to 2% of the total revenues generated from the operation of all Unencumbered Properties for such fiscal period.
Management Reserve means the portion of the Contract Budget Baseline (along with the Performance Management Baseline). Held to fund, if necessary, increased work-scope requirements (with the Contract’s overall scope) that arise from unforeseen circumstances.
Examples of Management Reserve in a sentence
This task is reserved for additional work the City may add to this Scope of Services, to be paid out of the 5% Management Reserve, and if that is exceeded, as supplemental agreements.
More Definitions of Management Reserve
Management Reserve means, with respect to all Unencumbered Properties for any fiscal period, an amount equal to 2% of the total revenues generated from the operation of all Unencumbered Properties for such fiscal period. “Material Adverse Effect” means any material adverse effect on (a) the business, condition (financial or otherwise), operations or properties of the Borrower and its Subsidiaries, taken as a whole, (b) the ability of the Borrower and its Subsidiaries, taken as a whole, to perform their respective obligations under the Loan Documents to which they are a party or (c) the ability of the Administrative Agent or any Lender to enforce any material provision of the Loan Documents. “Material Debt” means Indebtedness of any Loan Party or any Subsidiary of a Loan Party that (a) constitutes Recourse Debt or (b) constitutes Non-Recourse Debt and in respect of which a claim has been made on a Loan Party or Subsidiary with respect to any Customary Recourse Exceptions thereunder and, in each case, that is outstanding in an aggregate principal amount in excess of U.S.$25,000,000 (or the Equivalent thereof). “Material Litigation” means any actions, suits, proceedings, claims, disputes, investigations or suspensions that are pending or, to the knowledge of the Borrower after due and diligent investigation,
Management Reserve means, with respect to any Asset for any fiscal period, an amount equal to 3.0% of the total revenues generated from the operation of such Asset for such fiscal period.