Maximum Recourse Amount definition

Maximum Recourse Amount shall have the meaning thereto in Section 19.

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Maximum Recourse Amount means, with respect to any Property, the Property Cost of such Property multiplied by the percentage set forth in the Lease Supplement for such Property.

Maximum Recourse Amount means, with respect to each Property, 70.86% of the Property Cost of such Property.

Examples of Maximum Recourse Amount in a sentence

The percentage applicable to the calculation of the Maximum Recourse Amount for the Subject Property is set forth on Schedule III to the Participation Agreement.
The percentage applicable to the calculation of the Maximum Recourse Amount for the Subject Property is set forth on Schedule II hereto.
The payment of the Maximum Recourse Amount to the Administrative Agent pursuant to Section 20.2(f) of the Master Lease upon the exercise of the Remarketing Option shall be distributed to the Lenders holding Series A Notes for application to the outstanding principal amount of the Series A Notes.
The Maximum Recourse Amount for the Subject Property is 85% of the initial Lease Balance.
If the Gross Remarketing Proceeds from such sale (if any) of a Property exceeds the sum of (i) the aggregate Property Balance for such Property being sold as of such date minus the Maximum Recourse Amount, and other amounts paid to Administrative Agent pursuant to clause (f) above for such Property plus (ii) all Permitted Sales Costs with respect to such Property, then the excess shall be paid to the Lessee on the Expiration Date.

More Definitions of Maximum Recourse Amount

Maximum Recourse Amount means, as of any date of determination, an amount equal to 88.1314% of the Property Cost (less the aggregate amount of Extraordinary Lessor Investments, if any) outstanding at such time.

Maximum Recourse Amount means, at any time, an amount equal to 91.38% of the Aggregate Commitment Amount at such time.

Maximum Recourse Amount means an aggregate amount equal to ten percent (10%) of the Purchase Price of all Purchased Assets subject to outstanding Transactions under this Agreement as of the occurrence of an Event of Default or Early Termination Date, as applicable, minus the aggregate amount of all Margin Calls with respect to such Transactions that has previously been paid by Sellers and Guarantor; provided, however, that the Maximum Recourse Amount will be equal to the amount of any actual deficiency (only if such deficiency is greater than the Maximum Recourse Amount determined above) to the extent resulting from: (A) failure of any representation and warranties set forth in this Agreement to be materially true and correct with regard to a particular Purchased Asset on the initial Purchase Date for such Purchased Asset; (B) Seller’s failure to notify Buyer, on or prior to any Purchase Date, of any failure of any representation and warranty set forth in this Agreement hereto to be materially true and correct, to the extent such failure of such representation and warranty to continue to be materially true and correct is actually known to Seller; or (C) Buyer’s failure to receive an interest in the Purchased Assets as contemplated by this Agreement upon payment by Buyer of the Purchase Price for such Purchased Assets.

Maximum Recourse Amount. “Mortgage”, “Operative Documents”, “Security Agreement”, “Sublessee Security Agreement “ and “Sublessee Stock Pledge “ in their entirety and substituting the following in lieu thereof:

Maximum Recourse Amount means with respect to each Property, as of any date of determination, the percentage of Lease Balance set forth in the Lease Supplement for such Property.

Maximum Recourse Amount means, with respect to each Property, 83% of the aggregate outstanding amount of Loans made with respect to such Property.

Maximum Recourse Amount means, initially, the aggregate amount equal to the greater of (i) $5,000,000 and (ii) ten percent (10%) of the Purchase Price of all Purchased Securities subject to outstanding Transactions under this Agreement; provided, however, that the Maximum Recourse Amount will be equal to the amount of any actual deficiency following the above application (only if such deficiency is greater than the Maximum Recourse Amount) to the extent resulting from the breach by the Sellers or the Guarantor of any of their representations and warranties or covenants under this Agreement or fraud or willful misconduct by the Sellers, Guarantor or their Subsidiaries and Affiliates. Thereafter, the Maximum Recourse Amount shall be reset to equal ten percent (10%) of the outstanding Purchase Price following the delivery of any remittance report with respect to the underlying Purchased Securities, provided that there is no Margin Deficit. If there is a Margin Deficit, the Maximum Recourse Amount will not be reset.

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