True-Up Payment definition

True-Up Payment means a payment into the applicable Reserve Account of a sum which, together with any applicable monthly deposits into the applicable Reserve Account, will be sufficient to discharge the obligations and liabilities for which such Reserve Account was established as and when reasonably appropriate. The amount of the True Up Payment shall be determined by Lender in its reasonable discretion and shall be final and binding absent manifest error.

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True-Up Payment means a payment into the applicable Reserve Account of a sum which, together with any amounts then on deposit in the applicable Reserve Account, will be sufficient to discharge the obligations and liabilities for which such Reserve Account was established as and when such obligations and liabilities are required to be paid. The amount of the True Up Payment shall be determined by Lender in its reasonable discretion in accordance with the Loan Documents and shall be final and binding absent manifest error.

True-Up Payment has the meaning set forth in Section 9.4.

Examples of True-Up Payment in a sentence

The Second True Up Payment shall be paid in four (4) equal installments on each Royalty Payment Date for the quarters ending March 31, June 30, September 30, and December 31, 2038, respectively (subject to earlier prepayment of all or part of all or any such installments at the option of the Company), and such payments by the Company shall be fully creditable towards the Cap Amount.
The First True Up Payment shall be paid in four (4) equal installments on each Royalty Payment Date for the quarters ending March 31, June 30, September 30, and December 31, 2029, respectively (subject to earlier prepayment of all or part of all or any such installments at the option of the Company), and such payments by the Company shall be fully creditable towards the Cap Amount.

More Definitions of True-Up Payment

True-Up Payment has the meaning set forth in Section 2.02(b).

True-Up Payment shall have the meaning ascribed to such term in Section 5.6.

True-Up Payment shall have the meaning set forth in the Mortgage Loan Agreement.

True-Up Payment has the meaning set forth in Section 5.2(d).

True-Up Payment shall have the meaning set forth in Section 3.01(c).

True-Up Payment is defined in Section 2.3(b).

True-Up Payment has the meaning set forth in the Definitions Agreement.