Progress Ratio definition

Progress Ratio means, for each Eligible Portfolio determined as of the last day of a month, the ratio expressed as a percentage of (a) the amount of the actual gross cash collections for such Eligible Portfolio for the immediately preceding calendar quarter to (b) the projected cash collections for such Eligible Portfolio for the same period as set forth in the Eligible Portfolio Projections delivered to the Administrative Agent prior to the commencement of such calendar quarter.
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Progress Ratio means, for the Pools determined on an aggregate basis as of the last day of a calendar quarter, the ratio expressed as a percentage of (a) the amount of the actual gross cash collections for such Pools for such calendar quarter to (b) the Estimated Remaining Collections for such Pools as set forth in the Asset Pools Report delivered to the Administrative Agent for the period ending on the last day of such calendar quarter.
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Progress Ratio has the meaning set out in Section 2.2(h)(ii)(A).
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Examples of Progress Ratio in a sentence

  • Notwithstanding anything to the contrary contained herein, in the event that the ratio that the balance of the unfunded TI Allowance bears to the Revised Cost Proposal (the “Progress Ratio”) is smaller than the TI Percentage, then Landlord shall not be obligated to make any disbursements until the Tenant’s Architect certifies that the Progress Ratio is equal to or greater than the TI Percentage.

  • Provided that the Progress Ratio is equal to or greater than the TI Percentage, Landlord shall make payments to Tenant or Tenant’s General Contractor in a prompt and timely manner, based on appropriate invoices and documentation from Tenant’s General Contractor and Architect during the progress of the Tenant Improvement Work.

  • Once the Engineer confirms the General Contractor’s reported Monthly Progress Ratio, the Client shall pay the General Contractor 70% of the Price multiplied by the Monthly Progress Ratio.

  • Landlord shall have no obligation to advance funds on account of the New Allowance unless and until Tenant has first paid any sums required from Tenant in order to pay Excess Costs such that the Progress Ratio is equal to or great than the TI Percentage.