NCF Payment definition

NCF Payment has the meaning set forth in Section 5(b) hereof.
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NCF Payment means, with respect to a Payment Date, a payment by Borrower to Lender in an amount equal to the NCF After Debt Service for the calendar month that is two (2) calendar months prior to the calendar month in which the applicable Payment Date occurs (the “Applicable Determination Month”) less the sum of (i) the applicable CapEx Cash Flow Monthly Credit Amount and (ii) the applicable Monthly CapEx Reserve Make-Whole Credit Amount (if any), such amounts to be calculated by Borrower based on the applicable Monthly Income Report and subject to Lender's review in its sole but good faith discretion. It being understood that in no event shall the amount of an NCF Payment be less than zero. For the avoidance of doubt, the NCF Payment due on the Payment Date occurring in April, 2012 shall be in an amount equal to the NCF After Debt Service generated by the Property during the month of February, 2012 less the sum of (i) the applicable CapEx Cash Flow Monthly Credit Amount and (ii) the applicable Monthly CapEx Reserve Make-Whole Credit Amount (if any). Therefore, the Applicable Determination Month of a Payment Date occurring in April, 2012 is February, 2012.
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Examples of NCF Payment in a sentence

  • Subject to Section 7 hereof, on or before the date that is sixty (60) days following the last day of each calendar year occurring during the First Extended Term (each such date, an “NCF Payment Date”, and each such year, a “Subject Year”), Sunrise shall pay Marriott the NCF Payment, together with a statement showing the calculation thereof and reasonable backup documentation with respect thereto.

  • If less than the applicable minimum DSC Ratio that is now required pursuant to Section 10.2.1 of the Loan Agreement but greater than 1.1 to 1, then either: (i) deposit Net Cash Flow for immediately preceding NCF Period in Cash Reserve Account and on each NCF Payment Date thereafter deposit all Net Cash Flow in Cash Reserve Account, (ii) pay down Loan to the applicable minimum DSC Ratio that is now required pursuant to Section 10.2.1, or (iii) furnish Acceptable Letter of Credit in such amount.

Related to NCF Payment

  • Tariff Payment means the payments to be made under Monthly Bills as referred to in Article 10 and the relevant Supplementary Bills;

  • Due Date of Payment means the date on which the amount payable by the DISCOM to the solar power developer hereunder for Delivered Energy, if any, supplied during a billing month becomes due for payment, which date shall be thirty (30) days from the meter reading date provided the bill is received by DISCOM within 5 working days from meter reading date, and in the case of any supplemental or other bill or claim, if any, the due date of payment shall be thirty (30) days from the date of the presentation of such bill or claim to the designated officer of DISCOM. If the last date of payment falls on a holiday, the next working date shall be considered as last date.

  • Date of Payment means the date on which NYSERDA requisitions a check from its statutory fiscal agent, the Department of Taxation and Finance, to make a Payment.

  • Delta Payment means as it is described in this Agreement.

  • Coupon Payment Date means each day specified to be an Coupon Payment Date in the Product Terms.