Examples of Stabilization Date in a sentence
Prior to the date upon which ninety percent (90%) of the rentable square footage of the Project is leased and occupied (the "Stabilization Date"), Owner shall pay Manager a monthly fee equal to the greater of (i) three percent (3%) of Manager's out-of-pocket expenses relating to the Project which are reimbursable under the Agreement by Owner, and (ii) the Manager's overhead expenses associated with the Project.
The Trustee shall transfer any Surplus Bond Proceeds remaining in the Capitalized Interest Account, after the Borrower certifies to the Trustee the Final Completion of the Project Facilities, but in no event later than the Stabilization Date, to the Bond Fund.
After Final Completion of the Project Facilities, but in no event later than the Stabilization Date, all Surplus Bond Proceeds remaining in the Bond Proceeds Account of the Project Fund shall be transferred to the Bond Fund.
Notwithstanding the foregoing, between the date upon which the Project is substantially completed and the Stabilization Date, the minimum amount payable by Owner under this Agreement on an annualized basis shall be $.40 per rentable square foot per year.
In the case of either Member, to any Person provided (i) such Transfer is made after the Project Stabilization Date, (ii) such Transfer is for the transferring Member's entire Interest in the Company, and (iii) the transferring Member fully complies with the provisions of Exhibit "H." Any such Permitted Transferee shall receive and hold such ownership interest or portion thereof subject to the terms of this Agreement and to the obligations hereunder of the transferor.