Additional Financing Clause Samples
The additional financing clause defines the terms under which a party may seek or obtain extra funding beyond the original agreement. Typically, it outlines the conditions, approval processes, and any limitations or obligations related to securing further capital, such as notifying the other party or maintaining certain financial ratios. This clause is essential for providing flexibility to address unforeseen financial needs during the course of a project or contract, ensuring that both parties understand how new funding will be managed and reducing the risk of disputes over future capital requirements.
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Additional Financing. 2.15.1 In the event that the PIPE Closing does not occur prior to or concurrently with the Closing as a result of the failure of any of the conditions to the PIPE Closing under the Stock Purchase Agreement to have been satisfied or waived or because the Stock Purchase Agreement has been terminated, ECP shall be required to provide $150 million to DYN or the Buyer, as applicable, through one of the following options (provided that if (x) the First Buyout Condition fails to occur (other than in the circumstances described in clause (z) below), ECP can elect either option in its sole discretion, (y) the First Buyout Condition occurs, only the provisions of clause (i) below shall apply and (z) in the event that the First Buyout Condition fails to occur and the PIPE Closing has not occurred or does not occur as a result of the failure of the condition set forth in Section 2.04(g) of the Stock Purchase Agreement, only the provisions of clause (ii) below shall apply): (i) ECP and DYN shall enter into a loan agreement, the specific terms of which shall include the ability of DYN to repay all or a portion of the loan at any time without penalty and shall otherwise be agreed by ECP and DYN, acting reasonably and in good faith, prior to the Closing, pursuant to which ECP shall loan DYN $150 million (the “ECP Loan”), which DYN shall use to fund the Buyer Subsidiary’s obligations under the Purchase Agreement or (ii) (a) ECP’s Commitment shall be increased by $150 million and DYN’s Commitment shall be decreased by $150 million, (b) each Sponsor’s Commitment Percentage shall be increased or decreased, as the case may be, in accordance with the $150 million increase or decrease contemplated by the foregoing clause (a), and (c) ECP shall be required to contribute such additional $150 million to the Buyer at the Closing, subject to the satisfaction or waiver of the conditions set forth in the ECP Equity Commitment Letter; provided that, in each case in the foregoing clauses (i) and (ii), each of DYN and Terawatt shall continue to comply with its obligations set forth in the Stock Purchase Agreement (including effecting the PIPE Closing, subject to the satisfaction or waiver of the conditions set forth in the Stock Purchase Agreement), and provided further that if any of the conditions to the PIPE Closing under the Stock Purchase Agreement are not satisfied or the Stock Purchase Agreement is terminated, in either case due to a material breach of, or material default under, t...
Additional Financing. The parties hereto acknowledge that the Lenders have made no agreement or commitment to provide any financing except as set forth herein.
Additional Financing. The Investor understands that Lenz will -------------------- require additional ▇▇nancing in the figure, that Lenz has no commitments for such financing at this time and has no a▇▇▇▇ances that it will be able to obtain additional financing, or if obtained what price, terms and conditions will be attached to such financing. The Investor acknowledges that Lenz intends to issue substantial shares in several rounds of future ▇▇▇ancings, and that in the course of such issuances, the Investor's percentage ownership in Lenz will be substantially diluted.
Additional Financing. Purchaser further acknowledges that nothing hereunder shall preclude the Company from seeking and/or procuring additional equity and/or debt financing.
Additional Financing. The Borrower hereby covenants and agrees that, except for Permitted Encumbrances and except as otherwise contemplated in the Mortgage, without the prior written consent of the Significant Bondholder, if any, it shall not create, incur, assume or guaranty any financing secured by the Project or other financings except (i) the transactions contemplated in the Subordinate Loan Documents, (ii) the Permitted Encumbrances and as otherwise contemplated in the Mortgage, and (iii) unsecured loans or advances by the Borrower’s partners as contemplated or permitted by the Partnership Agreement.
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.
Additional Financing. Subscriber further acknowledges that nothing hereunder shall preclude the Company from seeking and/or procuring additional equity and/or debt financing.
Additional Financing. (a) The Company shall not be permitted to incur any additional indebtedness which by its terms require repayment of such indebtedness prior to repayment of the Debentures other than any debt arising out of the refinancing or restructuring of the then outstanding principal balance of any currently outstanding indebtedness of the Company to the Bank of Boston, ▇▇▇▇▇ ▇. ▇▇▇▇▇ and his affiliates ("Founders' Debt") which Founders' Debt as at the date hereof is approximately $15,000,000 and which may be secured by any and all of the existing or hereafter acquired assets of the Company. No such refinancing shall cause the Company to incur any indebtedness in excess of the outstanding principal amount at the time of any refinancing. Purchaser shall (i) execute and deliver a Subordination Agreement, the terms of which shall be reasonably consistent with the terms of subordination contained in the Debentures, and (ii) not unreasonably withhold consent to additional terms of such Subordination Agreement not contained in such Debentures, reasonably required by the holders of the Founders' Debt (except for the holders of the Founder's Debt on the date hereof).
(b) Simultaneously with any Borrower Voluntary Conversion (as defined in Debenture #2), the Company will cause a portion of the Founders' Debt equal to the lesser of (a) $7.5 million, and (b) 150% of the balance of Debenture #2 so converted to be contributed to capital of the Company with the issuance of additional Units to the holders of the Founders' Debt. Such Units shall be identical in all respects to the Debenture Purchase Units. The number of Units to be issued upon any conversion of the Founders' Debt shall be determined by dividing the amount of indebtedness converted by the then-applicable Conversion Price (as defined in Debenture #2).
Additional Financing. The parties hereto acknowledge that the Banks have made no agreement or commitment to provide any financing except as set forth herein.
Additional Financing. Nothing herein contained shall prevent the Company from issuing any other securities or rights with respect thereto during the period within which a Warrant is exercisable, upon such terms as the Company may deem appropriate.