Reserved Expenses definition

Reserved Expenses. The meaning specified in Section 10.3(d).
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Reserved Expenses has the meaning assigned to such term in Section 2.08(a)(i).
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Reserved Expenses is defined in Section 6.3(b).
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Examples of Reserved Expenses in a sentence

  • To the extent no Event of Default then exists or would result therefrom, the Borrower (or the Portfolio Asset Servicer on the Borrower’s behalf) may, from time to time, withdraw from the Expense Reserve Account any deposits thereto to pay the Reserved Expenses of the Borrower that are due and owing solely to the extent reflected in the related Payment Date Report.

  • The Administrative Agent (at the direction of the Majority Lenders as requested by the Borrower or the Portfolio Asset Servicer on its behalf) so long as no Event of Default has occurred and is continuing or would result therefrom, shall, on any Payment Date, withdraw from the Expense Reserve Account any deposits thereto to pay the Reserved Expenses of the Borrower that are due and owing on such Payment Date solely to the extent reflected in the related Payment Date Report.

  • On the Business Day following the payment of the Reserved Expenses in full (which shall be on or around the Closing Date), the Collateral Agent shall remit the balance on deposit in the Expense Reserve Account to the Principal Collection Account for application as Principal Proceeds and the Expense Reserve Account shall be terminated.

  • On the earlier of (i) the First Payment Date and (ii) the Business Day that the Investment Manager has confirmed to the Trustee that all Reserved Expenses have been paid by the Issuer, the Trustee shall transfer any amount remaining in the Expense Reserve Account to the Interest Collection Account and/or the Principal Collection Account (as directed by the Investment Manager) and close the Expense Reserve Account.

  • At the written direction of the Investment Manager, the Trustee may at any time transfer amounts deposited in the Expense Reserve Account to the Interest Collection Account for application as Interest Proceeds and/or to the Principal Collection Account for application as Principal Proceeds so long as the Investment Manager has confirmed to the Trustee that there are sufficient funds remaining in the Expense Reserve Account after such transfer to pay for all accrued but unpaid Reserved Expenses.


More Definitions of Reserved Expenses

Reserved Expenses has the meaning assigned to such term in Section 2.08(a)(i). "Responsible Officer" means any duly authorized officer of such Person with direct responsibility for the administration of this Agreement and also, with respect to a particular matter, any other duly authorized officer of such Person to whom such matter is referred because of such officer's knowledge of and familiarity with the particular subject; provided, that any Responsible Officer of the Portfolio Asset Servicer shall be deemed to be a Responsible Officer of the Borrower. "Restricted Junior Payment" means (a) any dividend or other distribution (including, without limitation, RIC Tax Distributions), direct or indirect, on account of any class of equity interests of the Borrower now or hereafter outstanding, except a dividend or other distribution paid solely in interests of that class of equity interests or in any junior class of equity interests of the Borrower, (b) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or indirect, of any class of equity interests of the Borrower now or hereafter outstanding or (c) any payment made to redeem, purchase, repurchase or retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire equity interests of the Borrower now or hereafter outstanding. "Review Criteria" has the meaning assigned to that term in Section 9.02(b)(i). "Revolving Loan Note" has the meaning assigned to such term in Section 2.03(a). "Revolving Period" means the period commencing on the Closing Date and ending on the earlier of (i) the date that is the third anniversary of the Closing Date, as such date may be extended pursuant to Section 2.14 and (ii) the date the Commitments are terminated in accordance with this Agreement, whether as a result of an Event of Default, Market Trigger Event or otherwise. “RIC Tax Distribution" means, so long as no Event of Default specified in clauses (a), (b), (d), (e) or (g) of Section 6.01 has occurred and is continuing, any distribution made by the Borrower (i) to allow Holdings to pay any unpaid Taxes then due and owing resulting from the income of the Borrower claimed on the tax reporting of Holdings and (ii) to the extent necessary to allow Holdings to make sufficient distributions to qualify as a regulated investment company under the Code and to otherwise minimize or eliminate federal or state income tax or excise taxes payable by Holdings in or w...
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Reserved Expenses has the meaning assigned to such term in Section 2.08(a)(i). “Responsible Officer” means any duly authorized officer of such Person with direct responsibility for the administration of this Agreement and also, with respect to a particular matter, any other duly authorized officer of such Person to whom such matter is referred because of such officer’s knowledge of and familiarity with the particular subject; provided, that any Responsible Officer of the Portfolio Asset Servicer shall be deemed to be a Responsible Officer of the Borrower.
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Reserved Expenses means (i) all costs, fees and expenses incurred or anticipated to be incurred by the Company or any Subsidiary in connection with this Agreement or the transactions contemplated hereby (including, but not limited to, all costs, fees and expenses relating to the Reorganization Solicitation or the Bankruptcy Case) and (ii) all payments made by the Company pursuant to Section 2(c), (d) and (e) of the Management Settlement Agreement, in each case to the extent that such costs, fees, expenses and payments have not been paid by the Company prior to or on the Closing Date. It is understood and agreed that the total amount of Reserved Expenses shall be determined by the Company, with the approval of the Purchaser (which shall not be unreasonably withheld) immediately prior to the Closing Date.
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Related to Reserved Expenses

  • Covered Expenses means expenses actually incurred by or on behalf of a Covered Person for treatment, services and supplies covered by the Policy. Coverage under the Participating Organization’s Policy must remain continuously in force from the date of the Covered Accident or Sickness until the date treatment, services or supplies are received for them to be a Covered Expense. A Covered Expense is deemed to be incurred on the date such treatment, service or supply, that gave rise to the expense or the charge, was rendered or obtained.

  • O&M Expenses means expenses incurred by or on behalf of the Developer or by the Authority, as the case may be, for all O&M including (a) cost of salaries and other compensation to employees, (b) cost of materials, supplies, utilities and other services, (c) insurance premium, (d) all taxes, duties, cess and fees due and payable for O&M, (e) all repair, replacement, reconstruction, reinstatement, improvement and maintenance costs, (f) payments required to be made under the O&M Contract, or any other contract in connection with or incidental to O&M, and (g) all other expenditure required to be incurred under Applicable Laws, Applicable Permits or this Agreement.

  • Gross Operating Expenses shall include (i) all costs and expenses of operating the Hotel included within the meaning of the term “Total Costs and Expenses” contained in the Uniform System and, (ii) without duplication, the following: all salaries and employee expense and payroll taxes (including salaries, wages, bonuses and other compensation of all employees of the Hotel, and benefits including life, medical and disability insurance and retirement benefits), expenditures described in Section 9.1, operational supplies, utilities, insurance to be provided by Lessee under the terms of this Lease, governmental fees and assessments, common area maintenance costs and other common area fees and assessments, food, beverages, laundry service expense, the cost of Inventories, license fees, advertising, marketing, reservation systems and any and all other operating expenses as are reasonably necessary for the proper and efficient operation of the Hotel and the Leased Property incurred by Lessee in accordance with the provisions hereof (excluding, however, (i) federal, state and municipal excise, sales and use taxes collected directly from patrons and guests or as a part of the sales price of any goods, services or displays, such as gross receipts, admissions, cabaret or similar or equivalent taxes paid over to federal, state or municipal governments, (ii) the cost of insurance to be provided under Article 13, (iii) expenditures by Lessor pursuant to Article 13 and (iv) payments on any Mortgage or other mortgage or security instrument on the Hotel); all determined in accordance with generally accepted accounting principles. No part of Lessee’s central office overhead or general or administrative expense (as opposed to that of the Hotel), and no operating expenses paid or payable by tenants under Space Leases, shall be deemed to be a part of Gross Operating Expenses, as herein provided. Reasonable out-of-pocket expenses of Lessee incurred for the account of or in connection with the Hotel operations, including but not limited to postage, telephone charges and reasonable travel expenses of employees, officers and other representatives and consultants of Lessee and its Affiliates, shall be deemed to be a part of Gross Operating Expenses and such Persons shall be afforded reasonable accommodations, food, beverages, laundry, valet and other such services by and at the Hotel without charge to such Persons or Lessee.

  • Program Expenses means all UHC’s expenses of administering the Program under the Indenture and the Act and shall include without limiting the generality of the foregoing; salaries, supplies, utilities, labor, materials, office rent, maintenance, furnishings, equipment, machinery and apparatus, including information processing equipment; software, insurance premiums, credit enhancement fees, legal, accounting, management, consulting and banking services and expenses; Fiduciary Expenses; remarketing fees; Costs of Issuance not paid from proceeds of Bonds; and payments to pension, retirement, health and hospitalization funds; and any other expenses required or permitted to be paid by UHC.

  • Capital Expenses expenses that are capital in nature or required under GAAP to be capitalized.

  • Company Expenses has the meaning set forth in Section 11.3(a)(v).

  • Development Expenses means, with respect to SAIL Developments as well as HOME Developments when the HOME Development is also at least partially financed with a MMRB Loan (as defined in rule Chapter 67-21, F.A.C.), usual and customary operating and financial costs, such as the compliance monitoring fee, the financial monitoring fee, replacement reserves, the servicing fee and the debt service reserves. As it relates to SAIL Developments as well as HOME Developments when the HOME Development is also at least partially financed with a MMRB Loan (as defined in rule Chapter 67-21, F.A.C.) and to the application of Development Cash Flow described in subsections 67-48.010(5) and (6), F.A.C., as it relates to SAIL Developments or in paragraph 67-48.020(3)(b), F.A.C., as it relates to HOME Developments, the term includes only those expenses disclosed in the operating pro forma on an annual basis included in the final credit underwriting report, as approved by the Board, and maximum of 20 percent Developer Fee per year.

  • Soft Costs means the costs of professional work and fees, interim costs, financing fees and expenses, syndication costs, soft costs and Developer’s fees as shown in the Applicant’s properly completed UniApp, Section C - Uses of Funds. Soft Costs do not include operating or replacement reserves.

  • Closing Costs means, collectively, all initial costs and fees that identified above and in Section 16 that Seller agrees to pay to Buyer as consideration for agreeing to enter into this Agreement.

  • Operating Costs means the incremental expenses incurred by the Recipient on account of Project implementation, management, and monitoring, including for office space rental, utilities, and supplies, bank charges, communications, vehicle operation, maintenance, and insurance, building and equipment maintenance, advertising expenses, travel and supervision, salaries of contractual and temporary staff, but excluding salaries, fees, honoraria, and bonuses of members of the Recipient’s civil service.

  • Reimbursable Expenses means all assignment-related costs [such as travel, translation, report printing, secretarial expenses, subject to specified maximum limits in the Contract].