Additional Paydown Requirement definition

Additional Paydown Requirement means the repayment of the outstanding principal amount of the Xxxxx Fargo Mortgage Loan (not including any such repayment on the Closing Date) and/or the Loan and Other Senior Mezzanine Loans (including any such repayment made on the Closing Date) from any source in an aggregate amount equal to $50,000,000, other than from (i) the payment of Release Amounts (as defined in the Xxxxx Fargo Mortgage Loan Agreement, this Agreement and the Other Mezzanine Loan Agreements) in connection with a Property Release, except to the extent such Release Amount is in excess of the applicable Minimum Release Amount (as defined in the Xxxxx Fargo Mortgage Loan Agreement, this Agreement and the Other Mezzanine Loan Agreements); (ii) any mandatory prepayment of the Xxxxx Fargo Mortgage Loan, the Loan and/or the Other Senior Mezzanine Loans as a result of a Liquidation Event (other than a Permitted CIGNA Mortgage Loan Refinancing) relating to an Individual Property, except to the extent the amount of such prepayment exceeds the applicable Minimum Release Amount (as defined in the Xxxxx Fargo Mortgage Loan Agreement, this Agreement and the Other Mezzanine Loan Agreements); or (iii) the payment of any proceeds from a Permitted CIGNA Mortgage Loan Refinancing.

Additional Paydown Requirement means the repayment of the outstanding principal amount of the Loan (not including any such repayment made on the Closing Date) and/or the Senior Mezzanine Loans (including any such repayment made on the Closing Date) from any source in an aggregate amount equal to $50,000,000, other than from (i) the payment of Release Amounts (as defined in this Agreement and the Mezzanine Loan Agreements) in connection with a Property Release, except to the extent such Release Amount is in excess of the applicable Minimum Release Amount (as defined in this Agreement and the Mezzanine Loan Agreements); (ii) as a result of a Liquidation Event (as defined in the Mezzanine Loan Agreements) (other than a Permitted CIGNA Mortgage Loan Refinancing) relating to an Individual Property or CIGNA Property, except to the extent the amount of such prepayment exceeds the applicable Minimum Release Amounts (as defined in this Agreement and the Mezzanine Loan Agreements); or (iii) the payment of any proceeds from a Permitted CIGNA Mortgage Loan Refinancing.

Examples of Additional Paydown Requirement in a sentence

The Prepayment shall not be applied against the Additional Paydown Requirement.
Borrower represents that, as of the date hereof, $1,479,978.08 has been applied against the Additional Paydown Requirement and $48,520,021.92 remains.
This area will not contain any buildings or other forms of built development and consequently will remain floodable and water compatible.

Related to Additional Paydown Requirement

Margin Requirement means the amount of money and/ or assets that the Client is required to deposit and/ or hold with the Firm as consideration for entering into a Transaction and/ or maintaining an Open Position on its Account;
Default Requirement means the amount specified as being applicable to the Reference Entity in the relevant Standard applicable to such Reference Entity or, if no such amount is specified, U.S.$10,000,000 or its equivalent in the relevant Obligation Currency, in either case as of the occurrence of the Credit Event.
Capitalized Interest Requirement with respect to this Supplemental Transfer Agreement shall be $________; provided, however, that such amount shall not exceed the amount on deposit in the Capitalized Interest Account.
Liquidity Requirement shall have the meaning as set forth in Section 2.12(b).
Minimum Balance Requirements You must maintain a minimum daily balance of $2,000.00 in your Money Market Savings account to obtain the disclosed annual percentage yield. We impose a monthly maintenance fee if the balance falls below $500 any day of the month. Basic Checking Account Rate Information: This account does not pay interest.
Term Loan Extension Request has the meaning set forth in Section 2.16(a).
Design requirements means the written description of the infrastructure facility to be procured pursuant to this article, including:
Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.
Alternative Compliance Payment or "ACP" means a payment of a certain dollar amount per megawatt hour, which a Retail Electricity Supplier may submit in lieu of supplying the minimum percentage of RECs required under Section 3.3.5 of this Regulation.
Incremental Loan Request has the meaning set forth in Section 2.14(a).
Incremental Loan has the meaning set forth in Section 2.14(b).
Maximum Incremental Facilities Amount means, at any date of determination, (a) the sum of (i) $500,000,000, plus (ii) an amount such that the Borrower is in Pro Forma Compliance with the Senior Secured Leverage Test (for the avoidance of doubt without netting any cash from the proceeds of any Indebtedness being incurred in reliance on such test and, if applicable, assuming the full amount of any New Revolving Credit Commitments are drawn), plus (iii) amounts used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to refinance or replace Revolving Credit Commitments and/or Term Loans (including any fees, accrued interest or other amounts owing in respect thereof), plus (iv) from and after the 2012 Extension Effective Date, the aggregate principal amount of 2014 Term Loans outstanding as of such date of determination, provided that such additional amounts pursuant to this clause (iv) are only available to the extent such amounts are used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to prepay 2014 Term Loans in accordance with Section 5.1 of this Agreement (such prepaid 2014 Term Loans, “Incremental Facility Prepaid 2014 Term Loans”) plus (v) the Dollar Equivalent principal amount of Term Loans (other than New Term Loans, Incremental Facility Prepaid 2014 Term Loans or Term Loans refinanced or replaced pursuant to clause (iii) above) voluntarily prepaid pursuant to Section 5.1 prior to such date, plus (vi) the amount of all Revolving Credit Commitments that have either been permanently reduced pursuant to Section 4.2 or have otherwise terminated in accordance with the terms of this Agreement after the 2012 Extension Effective Date (without duplication of the amounts incurred pursuant to clause (iii) above) minus (b) the sum of (i) the aggregate principal amount of New Loan Commitments incurred pursuant to Section 2.14(a) prior to such date and (ii) the aggregate principal amount of Permitted Other Indebtedness issued or incurred pursuant to Section 10.1(bb)(i)(a) prior to such date.
Minimum Requirements means the minimum requirements for available commercial structures. The minimum requirements may be found at this link: https://portlandgeneral.com/energy- choices/renewable-power/green-future-impact The minimum requirements may be updated from time to time to reflect PGE’s criteria from its latest Commission accepted renewable request for proposals.
Subordination Increase Amount As to any Distribution Date, the lesser of (i) the Subordination Deficiency and (ii) the Excess Interest.
Commitment Increase Supplement as defined in subsection 2.20(c).
Funding Conditions With respect to any proposed Funding Date, the following conditions:
Incremental Loan Commitment shall have the meaning ascribed to such term in Section 2.22(a).
Closing Date Term Loan Commitment means the commitment of each Lender to make Term Loans on the Closing Date hereunder in an aggregate principal amount not to exceed the amount set forth under the heading “Closing Date Term Loan Commitment” opposite its name in Schedule 2.01 hereto. The aggregate amount of the Closing Date Term Loan Commitments as of the Closing Date is $1,150,000,000.