Additional Funding Obligations Sample Clauses

Additional Funding Obligations. If at any time prior to the Final Payment Date either (i) the short-term unsecured debt rating of TMCC falls below P-1 by Moody's or A-1+ by S&P (or in either case, such lower ratings as may be permitted by Moody's and S&P), or (ii) the Holder fails to fund the amount specified in any Draw Request prepared and submitted to the Holder in accordance with Sections 2.1 and 2.3 of this Agreement, then the Indenture Trustee on behalf of the Issuer will have the right to request that the entire Undrawn Amount of the Revolving Liquidity Note be funded. To the extent the entire Undrawn Amount is fully funded pursuant to this Section 2.2, the Undrawn Amount shall be reduced to zero and shall no longer be subject to draws.
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Additional Funding Obligations. If at any time prior to the Final Payment Date either (i) the short-term unsecured debt rating of TMCC falls below P-1 by Xxxxx'x Investors Service ("Moody's) or A-1+ by Standard & Poor's, a division of The XxXxxx-Xxxx Companies, Inc. ("S&P") (or in either case, such lower ratings as may be permitted by Moody's and S&P), or (ii) the Holder fails to fund the amount specified in any Draw Request prepared and submitted to the Holder in accordance with Sections 2.1 and 2.3 of this Agreement, then the Indenture Trustee on behalf of the Issuer will have the right to request that the entire Undrawn Amount of the Revolving Liquidity Note be funded. To the extent the entire Undrawn Amount is fully funded pursuant to this Section 2.2, the Undrawn Amount shall be reduced to zero and shall no longer be subject to draws.
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Additional Funding Obligations. If at any time prior to the Final Scheduled Payment Date either (i) the short-term unsecured debt rating of the Holder falls below P-1 by Xxxxx'x or A-1+ by Standard & Poor's (or in either case, such lower ratings as may be permitted by Xxxxx'x and S&P), (ii) the long-term unsecured debt rating of the Holder falls below A1 by Xxxxx'x or AA- by Standard & Poor's (or in either case, such lower ratings as may be permitted by Xxxxx'x and S&P) or (iii) the Holder fails to fund the amount specified in any Draw Request prepared and submitted to the Holder in accordance with Sections 2.1 and 2.3 of this Agreement, then the Indenture Trustee on behalf of the Issuer shall request that the entire Undrawn Amount of the Revolving Liquidity Note be funded; provided, however, that the Indenture Trustee shall not exercise its right to request that the entire Undrawn Amount of the Revolving Liquidity Note be funded for five Business Days following the occurrence of a downgrade event referred to in clause (i) or (ii) above, during which time the Holder shall have the right to remedy such downgrade event by assigning the Revolving Liquidity Note and this Agreement to a Permitted Assignee pursuant to Section 2.5 or Section 3.3. Upon such assignment, the downgrade event shall be deemed cured and therefore the Indenture Trustee shall no longer be permitted to request that the entire Undrawn Amount of the Revolving Liquidity Note be funded. To the extent the entire Undrawn Amount is fully funded pursuant to this
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Additional Funding Obligations. Following the Closing, the Purchaser agrees to fund the testing and development of the Coalthane System (the “Development Funding”), upon an mutually agreeable budget and timeline with the Seller.
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Additional Funding Obligations. If at any time prior to the Final Payment Date either (i) the short-term unsecured debt rating of TMCC falls below [____] by [__________] or [____] by [__________] (or in either case, such lower ratings as may be permitted by [__________] or [__________], respectively), or (ii) the Holder fails to fund the amount specified in any Draw Request prepared and submitted to the Holder in accordance with Sections 2.1 and 2.3 of this Agreement, then the Indenture Trustee on behalf of the Issuer will have the right to request that the entire Undrawn Amount of the Revolving Liquidity Note be
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Additional Funding Obligations. Notwithstanding any other provision of this Agreement and without prejudice to the Secured Creditors rights hereunder:
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Additional Funding Obligations. If at any time (i) the Loss Ratio (as defined in this Section 3.3(f)) for the Policies exceeds seventy four and two tenths percent (74.2%), which calculation shall be performed within thirty days following the end of each anniversary of the first Underwriting Year, (ii) the Agreement is not renewed at the end of any Underwriting Year or is otherwise terminated, (iii) regulatory action is taken against the General Agent resulting in the loss, cancellation, declination, or suspension of any license or certificate of authority required by the General Agent to perform its obligations hereunder, (iv) there is a Change of Control of the General Agent, as defined in Section 9.5, or (v) the policyholders' surplus for either American Hallmark Insurance Company of Texas or Phoenix Indemnity Insurance Company falls below Eight Million Dollars ($8,000,000), then the General Agent shall immediately cause the Letter of Credit to be increased to, and subsequently maintained at, an amount equal to fifteen and eight tenths percent (15.8%) of Net Written Premium. For purposes of this Section 3.3(f) only, the term "Loss Ratio" means an amount equal to Losses divided by collected and earned Net Net Written Premium, where the term "Losses" is equal to the sum of (a) all losses incurred under the Policies (including outstanding case reserves), plus (b) all allocated and unallocated loss adjustment expenses incurred in connection with such losses (provided that the amount of Legal Loss Adjustment Expenses, as defined in that certain Claims Administration Agreement between the General Agent and the Company, dated August 15, 2001, shall be limited to four percent (4.0%) of Net Written Premium), plus (c) losses incurred but not reported, as determined using the applicable IBNR factor listed in the chart below, provided that if such IBNR factor is less than the expected amount of losses incurred but not reported, as determined by Clarendon's actuaries at their sole reasonable discretion, then the amount of losses incurred but not reported for purposes of this Section 3.3(f) shall be the amount determined by Clarendon rather than the applicable IBNR factor. ----------------------------------------------------------------- IBNR Factors for Calculating the Loss Ratio for Additional Funding Obligations ----------------------------------------------------------------- 13-24 Month Calculation 25.0% of Net Written Premium 25-36 Month Recalculation 15.0% of Net Written Premium 37-48 Month R...
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Additional Funding Obligations. Following the Closing, the Purchaser agrees to fund the testing and development of the Havelide System (the “Development Funding”), upon an mutually agreeable phase I budget and timeline with the Seller. Upon successful completion of the phase I budget, the Purchaser shall fund phase II and phase III budgets upon budgets to be mutually agreed upon.
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Related to Additional Funding Obligations

  • Additional Funding If the General Partner determines that it is in the best interests of the Partnership to provide for additional Partnership funds (“Additional Funds”) for any Partnership purpose, the General Partner may (i) cause the Partnership to obtain such funds from outside borrowings, or (ii) elect to have the General Partner or any of its Affiliates provide such Additional Funds to the Partnership through loans or otherwise.

  • Additional Funds An additional Fund or Funds may become a party to this Agreement after the date hereof by an instrument in writing to such effect signed by such Fund or Funds and the Custodian. If this Agreement is terminated as to one or more of the Funds (but less than all of the Funds) or if an additional Fund or Funds shall become a party to this Agreement, there shall be delivered to each party an Appendix B or an amended Appendix B, signed by each of the additional Funds (if any) and each of the remaining Funds as well as the Custodian, deleting or adding such Fund or Funds, as the case may be. The termination of this Agreement as to less than all of the Funds shall not affect the obligations of the Custodian and the remaining Funds hereunder as set forth on the signature page hereto and in Appendix B as revised from time to time.

  • Additional Funding and Capital Contributions If the Board of the Company or Haimeng at any time or from time to time determines that funding and/ or capital contributions to the Company or Haimeng are necessary to conduct the Company’s or Haimeng’s business activities, then:

  • Additional Funds and Portfolios In the event that any management investment company in addition to those listed on Appendix A hereto desires to have the Custodian render services as custodian under the terms hereof, it shall so notify the Custodian in writing, and if the Custodian agrees in writing to provide such services, such management investment company shall become a Fund hereunder and be bound by all terms and conditions and provisions hereof including, without limitation, the representations and warranties set forth in Section 20.6 below. In the event that any Fund establishes one or more series of Shares in addition to those set forth on Appendix A hereto with respect to which it desires to have the Custodian render services as custodian under the terms hereof, it shall so notify the Custodian in writing, and if the Custodian agrees in writing to provide such services, such series of Shares shall become a Portfolio hereunder.

  • Notional Funding Each Bank shall have the right from time to time, without notice to any Borrower, to deem any branch, Subsidiary or Affiliate (which for the purposes of this Section 11.5 shall mean any corporation or association which is directly or indirectly controlled by or is under direct or indirect common control with any corporation or association which directly or indirectly controls such Bank) of such Bank to have made, maintained or funded any Loan to which the Euro-Rate Option applies at any time, provided that immediately following (on the assumption that a payment were then due from the Borrowers to such other office), and as a result of such change, the Borrowers would not be under any greater financial obligation pursuant to Section 5.5 than they would have been in the absence of such change. Notional funding offices may be selected by each Bank without regard to the Bank’s actual methods of making, maintaining or funding the Loans or any sources of funding actually used by or available to such Bank.

  • Initial Funding The obligation of the Lenders to make the Initial Funding is subject to the receipt by the Agent and the Lenders of all fees payable pursuant to Section 2.04 on or before the Closing Date and the receipt by the Agent of the following documents and satisfaction of the other conditions provided in this Section 6.01, each of which shall be satisfactory to the Agent in form and substance:

  • Additional Funds and Capital Contributions .. 22 Section 4.4 Stock Option Plan................................... 23 Section 4.5 No Interest; No Return.............................. 24 Section 4.6 Conversion or Redemption of Preferred Shares........ 24

  • Additional Financing Except as otherwise provided in this Article V, no Member shall be obligated or permitted to contribute any additional capital to the Company without the consent of the Board of Managers. No interest shall accrue on any contributions to the capital of the Company, and no Member shall have the right to withdraw or to be repaid any capital contributed by it or to receive any other payment in respect of its interest in the Company, including without limitation as a result of the withdrawal or resignation of such Member from the Company, except as specifically provided in this Agreement. The records of the Company shall be adjusted to reflect any additional contributions to the capital of the Company made pursuant to Section 5.2.

  • Special Purpose Funding Vehicles Notwithstanding anything to the contrary contained herein, any Lender (a “Granting Lender”) may grant to a special purpose funding vehicle identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower (an “SPV”) the option to provide all or any part of any Loan that such Granting Lender would otherwise be obligated to make pursuant to this Credit Agreement; provided that (i) nothing herein shall constitute a commitment by any SPV to fund any Loan, and (ii) if an SPV elects not to exercise such option or otherwise fails to make all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof or, if it fails to do so, to make such payment to the Administrative Agent as is required under Section 3.14. Each party hereto hereby agrees that (i) neither the grant to any SPV nor the exercise by any SPV of such option shall increase the costs or expenses or otherwise increase or change the obligations of the Borrower under this Credit Agreement (including its obligations under Section 3.4), (ii) no SPV shall be liable for any indemnity or similar payment obligation under this Credit Agreement for which a Lender would be liable, and (iii) the Granting Lender shall for all purposes, including the approval of any amendment, waiver or other modification of any provision of any Credit Document, remain the lender of record hereunder. The making of a Loan by an SPV hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender. In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Credit Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or other senior debt of any SPV, it will not institute against, or join any other Person in instituting against, such SPV any bankruptcy, reorganization, arrangement, insolvency, or liquidation proceeding under the laws of the United States or any State thereof. Notwithstanding anything to the contrary contained herein, any SPV may (i) with notice to, but without prior consent of the Borrower and the Administrative Agent and with the payment of a processing fee in the amount of $3,500 (unless waived by the Administrative Agent in its sole discretion), assign all or any portion of its right to receive payment with respect to any Loan to the Granting Lender and (ii) disclose on a confidential basis any non-public information relating to its funding of Loans to any rating agency, commercial paper dealer or provider of any surety or Guarantee or credit or liquidity enhancement to such SPV.

  • Additional Capital Contributions and Issuances of Additional Partnership Interests Except as provided in this Section 4.2 or in Section 4.3, the Partners shall have no right or obligation to make any additional Capital Contributions or loans to the Partnership. The General Partner may contribute additional capital to the Partnership, from time to time, and receive additional Partnership Interests in respect thereof, in the manner contemplated in this Section 4.2.

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