Set Aside Amount definition

Set Aside Amount means the amount set aside by the Escrow Agent with respect to any Dispute. The Set Aside Amount with respect to a Dispute shall equal the lesser of (i) the portion of the Escrowed Funds sufficient to pay the Damages (less any applicable Threshold) relating to such Dispute in full [determined by mutual agreement of the Buyer and the Shareholders' Representative Committee, or in the absence of agreement by arbitration as set forth in Section 14(c) hereof] or (ii) the balance of the Escrowed Funds as of the date such set aside occurs.

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Set Aside Amount means all amounts set aside in accordance with the HECM Handbook from the Principal Limit, including amounts to cover (1) any repairs required to be made by the related Mortgagor after the related loan closing, (2) any property charges with respect to the related Mortgaged Property, including tax and insurance charges related to the first and subsequent years of the related Loan, and (3) the monthly servicing fee for the related Loan.

Set Aside Amount means $50,000,000.

Examples of Set Aside Amount in a sentence

If Buyer notifies the Escrow Agent in writing that it has made out-of-pocket expenditures in connection with any such disputed claim, and provides paid receipts for such expenditures, in addition to expenditures included in the Set Aside Amount, an amount equal to such additional expenditures shall be added to the Set Aside Amount.
The Set Aside Amount shall be allocated pro rata among the Shareholders based upon their percentage interests in the aggregate Escrow Shares/Escrow Funds.
With respect to each Shareholder, the amount constituting the Set Aside Amount shall be deducted first from the Escrow Funds and then, to the extent necessary, from the Escrow Shares allocable to such shareholder.
The Escrow Agent shall use its best efforts to make payment of such claim, as and to the extent allowed, to Nextera out of the Set Aside Amount (or if insufficient, out of the Escrow Deposit) within three (3) business days following the Escrow Agent's receipt of said determination or as soon thereafter as possible.
Nextera shall notify the Escrow Agent in writing of the Set Aside Amount.
If the Shareholder Representative shall dispute the Set Aside Amount as provided in Section 3, the Escrow Funds constituting the Set Aside --------- Amount shall be withheld pursuant to the immediately preceding sentence until otherwise determined by arbitration.
If Nextera notifies the Escrow Agent in writing that it has made out-of-pocket expenditures in connection with any such disputed claim, and provides paid receipts for such expenditures, in addition to expenditures included in the Set Aside Amount, an amount equal to such additional expenditures shall be added to the Set Aside Amount.
The Escrow Agent shall make payment of such Claim, as and to the extent allowed, to the Buyer out of the Set Aside Amount within three (3) business days following its receipt of a copy of the arbitration award determination.
The Set Aside Amount shall be allocated pro rata among the Shareholders based upon their percentage interests in the aggregate Escrow Funds, as indicated in Schedule 3.1 hereto.
The Set Aside Amount for each Related Property shall be non-refundable to Purchaser upon termination of the applicable Related Purchase Agreement, unless such termination is a result of (i) a default by any Seller, or (ii) a condemnation or casualty as described in Sections 9.10 and 9.11 of the Original Agreements, respectively.

More Definitions of Set Aside Amount

Set Aside Amount means, in respect of any insurance settlement or condemnation award which does not in the aggregate exceed $5,000,000 received by the Borrower or any Subsidiary of Borrower, the portion thereof, if any, (a)

Set Aside Amount. As defined in Section 2.4(c) of the SPV Loan Agreement.

Set Aside Amount has the meaning set forth in Section 3.5.

Set Aside Amount has the meaning specified in Section 2.01(c). ________________