Permitted Lease Balance definition

Permitted Lease Balance with respect to any Leased Property means (i) the Leased Property Balance therefor, minus (ii) the Force Majeure Losses, if any, related to such Leased Property.
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Permitted Lease Balance means, with respect to any Leased Property and ----------------------- calculated as of any date, (i) the Leased Property Balance with respect to such Leased Property as of the date of such calculation, minus (ii) Force Majeure ----- Losses with respect to such Leased Property, plus (iii) the amount of insurance ---- proceeds applied towards the remediation of such Force Majeure Losses, minus ----- (iv) any amounts that have been added to the Funded Amounts pursuant to the third sentence of Section 3.3 of the Construction Agency Agreement. For purposes of this definition, Leased Property means the Raw Land and/or the Building subject to a particular Lease Supplement.
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Permitted Lease Balance means the sum of the Lease Balance minus the amount of any Force Majeure Loss, plus the amount of proceeds of Other Available Amounts used to construct Improvements.
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Examples of Permitted Lease Balance in a sentence

  • The Construction Agent shall cause to be ------------------- paid (including, in the case of insurance required under this Section 2.9, ----------- with the proceeds of Advances and capitalized as part of Permitted Lease Balance), all premiums for the insurance required hereunder.

  • If Lessor has neither sold nor foreclosed upon the Leased Property within two (2) years after receipt of the Permitted Lease Balance, including pursuant to Section 16.2(i), Lessor will appoint a qualified independent sales agent to sell the Leased Property pursuant to the first bonafide offer received from creditworthy offeror and for an all cash purchase price at the then fair market value of the Leased Property to the extent the conditions therefor are satisfied.

  • The Construction Agent shall cause to be paid (including, in the case of insurance required under this Section 2.9, with the proceeds of Advances and capitalized as part of Permitted Lease Balance), all premiums for the insurance required hereunder.

  • No proceeds of the Construction Period Maximum Guaranty Amount or the Residual Value Guaranty Amount shall be used to pay any amounts included in the Lease Balance that are not includable in the Permitted Lease Balance.

  • Prepayment of the Notes and the Investments prior to the Maturity Date will be permitted and made upon the receipt by or on behalf of the Lessor of (A) the Residual Value Amount, or the Sales Proceeds relating thereto or (B) the Termination Value or Permitted Lease Balance, in each case in compliance with the Operative Documents.

  • If a Construction Agency Event of Default occurs due to the fraud, misapplication of funds, illegal acts or willful misconduct on the part of the Construction Agent or any event described in paragraph (i), (j) or (k) of Article XII of the Lease, the Construction Agent shall be obligated to pay the Permitted Lease Balance as set forth herein.

  • To the extent that either of the Construction Period Maximum Guaranty Amount or the Residual Value Guaranty Amount exceeds the Permitted Lease Balance, such excess in either case shall not be payable by Lessee (except from the proceeds of a sale of the Properties to the extent provided in Article X).

  • If a Construction Agency Event of Default occurs due to the fraud, misapplication of funds, illegal acts or wilful misconduct on the part of the Construction Agent or any event described in paragraph (f) or (g) of Article XII of the Lease, the Construction Agent shall be obligated to pay the Permitted Lease Balance as set forth herein.

  • Upon the receipt by the Lessor of the Termination Value or Permitted Lease Balance or on the delivery by or receipt by the Lessor of a Termination Notice, the Lessor shall give notice of such prepayment to the Agent which shall give notice to the Note Holders.


More Definitions of Permitted Lease Balance

Permitted Lease Balance means, with respect to any Leased Property and calculated as of any date, (i) the Leased Property Balance with respect to such Leased Property as of the date of such calculation, MINUS (ii) Force Majeure Losses with respect to such Leased Property, PLUS (iii) the amount of insurance proceeds applied towards the remediation of such Force Majeure Losses. For purposes of this definition, Leased Property means the Raw Land and/or the Building subject to a particular Lease Supplement.
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Permitted Lease Balance means the Termination Value, minus the amount of any Force Majeure Costs and Unreimbursed Losses, plus the amount of insurance proceeds or Condemnation awards and proceeds and third party payments applied toward the remediation of losses or damages relating to such Force Majeure Costs.
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Permitted Lease Balance means, in respect of any Construction Property, the Lease Balance for such Construction Property less all Force Majeure Costs for such Construction Property.
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Permitted Lease Balance means the Lease Balance, minus Force Majeure Losses and other amounts included in the Lease Balance that are not capitalizable in accordance with GAAP.
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Related to Permitted Lease Balance

  • Permitted Lease means a lease permitted under Section 4.02(b) of the Trust Indenture.

  • Lease Balance means, with respect to all of the Leased Properties, as of any date of determination, an amount equal to the aggregate sum of the outstanding Funded Amounts of all Funding Parties, all accrued and unpaid interest on the Loans, all accrued and unpaid Yield on the Lessor's Invested Amounts, all unpaid fees owing to the Funding Parties under the Operative Documents, including all other amounts owing to the Funding Parties by the Lessees under the Operative Documents.

  • Capitalized Lease of a Person means any lease of Property by such Person as lessee which would be capitalized on a balance sheet of such Person prepared in accordance with Agreement Accounting Principles.

  • Operating Lease Obligations means all obligations for the payment of rent for any real or personal property under leases or agreements to lease, other than Capitalized Lease Obligations.

  • Capitalized Lease Obligation means, as to any Person, the obligations of such Person under a lease that are required to be classified and accounted for as capital lease obligations under GAAP and, for purposes of this definition, the amount of such obligations at any date shall be the capitalized amount of such obligations at such date, determined in accordance with GAAP.

  • Finance Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a finance lease that would at such time be required to be capitalized and reflected as a finance lease on a balance sheet (excluding the footnotes thereto) in accordance with GAAP.

  • Capitalized Lease Obligations means, with respect to any Person, obligations of such Person and its Subsidiaries under Capitalized Leases, and, for purposes hereof, the amount of any such obligation shall be the capitalized amount thereof determined in accordance with GAAP.

  • Permitted Lessee means any Person to whom Company is permitted to lease the Airframe or any Engine pursuant to Section 7.02(a) of the Indenture and is a party to a Lease.

  • Capitalized Lease Liabilities means all monetary obligations of the Borrower or any of its Subsidiaries under any leasing or similar arrangement which, in accordance with GAAP, would be classified as capitalized leases, and, for purposes of this Agreement and each other Loan Document, the amount of such obligations shall be the capitalized amount thereof, determined in accordance with GAAP, and the stated maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty.

  • Finance Lease Obligations of a Person means the amount of the obligations of such Person under Finance Leases which would be shown as a liability on a balance sheet of such Person prepared in accordance with GAAP.

  • Permitted Leakage means any of the following:

  • Approved Lease means (a) each existing Lease as of the Closing Date as set forth in the Leasing Affidavit and (b) each Lease entered into after the Closing Date in accordance with the terms and conditions contained in Section 9.09 as such leases and related documents shall be Modified as permitted pursuant to the terms of this Agreement.

  • Capitalized Leases means all leases that have been or should be, in accordance with GAAP, recorded as capitalized leases.

  • Consolidated Lease Expense means, for any period, the aggregate amount of fixed and contingent rentals payable by the Borrower and its Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined on a consolidated basis in accordance with GAAP for such period.

  • Permitted Facility means a facility authorized by the general permit to discharge total nitrogen or

  • Capital Lease Obligation means, at the time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized on a balance sheet in accordance with GAAP.

  • Operating Lease Expense means the sum of all payments and expenses incurred by a Person, under any operating leases during the period of determination, as determined in accordance with GAAP.

  • Liquidated Lease means a Defaulted Lease that is terminated and charged off by the Servicer prior to its Maturity Date.

  • Financing Lease Obligation means, as applied to any Person, an obligation that is required to be accounted for as a financing or capital lease (and, for the avoidance of doubt, not a straight-line or operating lease) on both the balance sheet and income statement for financial reporting purposes in accordance with GAAP. At the time any determination thereof is to be made, the amount of the liability in respect of a financing or capital lease would be the amount required to be reflected as a liability on such balance sheet (excluding the footnotes thereto) in accordance with GAAP.

  • Capital Lease Obligations of any Person means the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP.

  • Capital Lease means, with respect to any Person, any lease of any property (whether real, personal or mixed) by such Person as lessee that, in accordance with GAAP, would be required to be classified and accounted for as a capital lease on a balance sheet of such Person.

  • Permitted Amount means, on any date, an amount equal to 3.5 times Adjusted EBITDA as of the most recent fiscal quarter for which financial statements of the Company are internally available immediately preceding such date.

  • Synthetic Lease Obligation means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment).

  • Lease Obligations of a Person means for any period the rental commitments of such Person for such period under leases for real and/or personal property (net of rent from subleases thereof, but including taxes, insurance, maintenance and similar expenses which such Person, as the lessee, is obligated to pay under the terms of said leases, except to the extent that such taxes, insurance, maintenance and similar expenses are payable by sublessees), including rental commitments under Capital Leases.

  • Sale and Lease-Back Transaction means any arrangement providing for the leasing by the Issuer or any of its Restricted Subsidiaries of any real or tangible personal property, which property has been or is to be sold or transferred by the Issuer or such Restricted Subsidiary to a third Person in contemplation of such leasing.

  • Permitted Lock-Up Agreement means an agreement between a Person and one or more holders of Voting Shares pursuant to which such holders (each a “Locked-Up Person”) agree to deposit or tender Voting Shares to a Take-Over Bid (the “Lock-Up Bid”) made or to be made by such Person or any of such Person’s Affiliates or Associates or any other Person with which such Person is acting jointly or in concert, provided that: