Operating Deficit Guaranty definition

Operating Deficit Guaranty has the meaning set forth in Section 6.9(b) of this Agreement. "Operating Deficit Loan" has the meaning set forth in Section 6.9(b) of this Agreement. "Operating Reserve" has the meaning set forth in Section 6.15(a) of this Agreement. "Owner's Title Policy" has the meaning set forth in Section 4.1(d) of this Agreement. "Partner" means any General Partner and any Limited Partner.
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Operating Deficit Guaranty means the Operating Deficit Guaranty, dated as of the date hereof, from Guarantor for the benefit of Xxxxxxx Mac, as amended, supplemented or restated.
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Operating Deficit Guaranty means that certain Operating Deficit Guaranty of even date herewith executed by Guarantor for the benefit of Borrower and assigned to Lender, as amended from time to time.
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Examples of Operating Deficit Guaranty in a sentence

  • Notwithstanding the above, the Operating Deficit Guaranty shall not terminate earlier than three (3) years following the final certificate of occupancy.

  • For the SAIL Loan, Guarantors are to provide the standard FHFC Operating Deficit Guaranty.

  • Guarantors for the SAIL are to provide the standard FHFC Operating Deficit Guaranty.

  • For the MMRN, Guarantors are to provide the standard FHFC Operating Deficit Guaranty.

  • Notwithstanding the above, the Operating Deficit Guaranty shall not terminate earlier than three years following the final certificate of occupancy.

  • Guarantors for the MMRB Loan are to provide the standard FHFC Operating Deficit Guaranty.

  • For the MMRB, Guarantors are to provide the standard FHFC Operating Deficit Guaranty.

  • Annual operating deficits shall be funded by the Key Principals under the Operating Deficit Guaranty on or before the date on which annual audited financial statements for the Project are due to IHFA.

  • If requested in writing by the Applicant, Servicer will consider a recommendation to release the Operating Deficit Guaranty if all conditions are met including achievement of a 1.15 Debt Service Coverage on the combined permanent First Mortgage and SAIL Loan, 90% occupancy and 90% of Gross Potential rental income, net of utility allowances, if applicable, for a period equal to twelve (12) consecutive months, all certified by an independent Certified Public Accountant (“CPA”).

  • Stevenson (2005) has presented an alternative approach to decision-making, planning, and action in environmental resource management.


More Definitions of Operating Deficit Guaranty

Operating Deficit Guaranty. The Operating Deficit Guaranty dated the date hereof made by Guarantor in favor of Agent, for the ratable benefit of the Lenders.
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Operating Deficit Guaranty. The General Partner shall be obligated for 120 months beginning on Permanent Mortgage Commencement to advance any funds necessary to meet cash operating expenses which exceed cash operating income up to a maximum amount outstanding from time to time of $600,000 (which amount includes the Operating Deficit Escrow of $97,029).
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Operating Deficit Guaranty shall have the meaning given in Section 3.2(b) hereof.
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Operating Deficit Guaranty. The General Partners shall be obligated to make Subordinated Loans to the Partner- ship to cover debt service, operating expenses and the Replacement Reserve Fund to the extent these exceed available operating income.
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Related to Operating Deficit Guaranty

  • Operating Deficit means, for the applicable period, insufficient funds to pay operating costs when Cash Expenses exceed Cash Receipts, as determined by the Accountant and approved by the Special Limited Partner.

  • Accumulated Funding Deficiency has the meaning ascribed to that term in Section 302 of ERISA.

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

  • Funding Default as defined in Section 2.21.

  • Reporting Default means a Default described in Section 6.01(d).

  • Servicing Default The meaning assigned in Section 6.01 of the Servicing Agreement.

  • Performing Note Deficiency means any time that less than 65% of the then aggregate outstanding principal amount of all Equipment Notes are Performing Equipment Notes.

  • Significant deficiency means a shortcoming in the system that materially affects the ability of officials of the Department of Defense to rely upon information produced by the system that is needed for management purposes.

  • Gas Supply Deficiency means any occurrence relating to Seller's gas supply which causes Seller to deliver less than the total requirements of its system, including failures of suppliers to deliver gas for any reason, requirement of gas for system storage, conservation of gas for future delivery, or any other occurrence which is not enumerated herein which affects Seller's gas supply.

  • ERISA Affiliate Plan means each Employee Benefit Plan sponsored or maintained or required to be sponsored or maintained at any time by any ERISA Affiliate, or to which such ERISA Affiliate makes or has made, or has or has had an obligation to make, contributions at any time, or with respect to which such ERISA Affiliate has any liability or obligation.

  • Foreign Pension Plan means any plan, fund (including, without limitation, any superannuation fund) or other similar program established or maintained outside the United States by the Borrower or any one or more of its Subsidiaries primarily for the benefit of employees of the Borrower or such Subsidiaries residing outside the United States, which plan, fund or other similar program provides, or results in, retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of employment, and which plan is not subject to ERISA or the Code.

  • Insurance Agreement Event of Default means an "Event of Default" as defined in the Insurance Agreement.

  • Multiemployer Plan means a multiemployer plan as defined in Section 4001(a)(3) of ERISA.

  • Company ERISA Affiliate means all employers (whether or not incorporated) that would be treated together with the Company or any of its Subsidiaries as a “single employer” within the meaning of Section 414 of the Code.

  • Reportable Event means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day notice period has been waived.

  • Multiemployer Pension Plan means a multiemployer plan, as defined in Section 4001(a)(3) of ERISA, to which the Company or any other member of the Controlled Group may have any liability.

  • Parent ERISA Affiliate means any entity that is considered a single employer with Parent under Section 414 of the Code.

  • Existing Defaults means (i) all Existing Defaults (as that term is defined in the Forbearance Agreements) and defaults with respect to other matters stated in the Forbearance Agreements, and (ii) the 2005 Tax Default.

  • Reportable Compliance Event means that any Covered Entity becomes a Sanctioned Person, or is charged by indictment, criminal complaint or similar charging instrument, arraigned, or custodially detained in connection with any Anti-Terrorism Law or any predicate crime to any Anti-Terrorism Law, or has knowledge of facts or circumstances to the effect that it is reasonably likely that any aspect of its operations is in actual or probable violation of any Anti-Terrorism Law.

  • Borrowing Base Deficiency means, as of any date of determination, the positive amount, if any, by which (i) the aggregate Loans Outstanding exceeds (ii) the Borrowing Base.

  • Mental deficiency means mental deficiency as defined by appropriate clinical authorities to such extent that a person so afflicted is incapable of managing himself and his affairs, but shall not include mental illness as defined herein.

  • Act of Insolvency means any act as such as defined by the Presidency Towns Insolvency Act or in Provincial Insolvency act or any amending status.

  • Spread Account Deficiency means the excess, if any, of the Required Spread Account Amount over the Available Spread Account Amount.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).