Bridge Funding Sample Clauses

Bridge Funding. On the date hereof, PMLS, PLTG, FGMF, FGMF II and BridgePointe (collectively, the “Bridge Lenders”) are advancing to the Company an aggregate of $50,000 (the “Bridge Loan”), with each Bridge Lender advancing the sum set forth opposite such Bridge Lender’s name on Schedule “B” hereto. Each Holder hereby consents to the Bridge Loan up to the specified amount, and waives any right of participation or similar rights with respect thereto (including pursuant to Section 3.19 of the Purchase Agreement) and acknowledges and agrees that the Bridge Loan shall not be deemed to be a “Triggering Issuance” for purposes of the Amendment Agreement. Each Bridge Lender shall be issued a Bridge Note, in substantially the form attached hereto as Exhibit A (collectively, the “Bridge Notes”), to evidence its portion of the Bridge Loan and the Guarantor is entering into a Guaranty (the “Bridge Guaranty”) in favor of the Bridge Lenders guaranteeing repayment of the Bridge Loan to the Bridge Lenders. The Debtors’ obligations under the Bridge Loan and Bridge Guaranty shall be secured by all collateral currently securing the Debentures; provided, that, the Debtors’ obligations under the Bridge Notes (together with all costs of collecting such obligations including attorneys’ fees) shall be deemed senior, in payment and security, to their obligations under the Debentures set forth above but shall be on a parity basis with the Debtors’ obligations under the January Notes. The Debtors hereby ratify and confirm the security interest granted to the Bridge Lenders pursuant to the Security Agreement and the other Transaction Documents and agree that the term “Obligations” under the Security Agreement be deemed to mean and include the obligations under the Bridge Notes and Bridge Guaranty. It is understood and agreed that the Bridge Loans (including all amounts payable under the Bridge Notes) shall, in all events, be paid in full prior to any payment made in respect of the Debentures. Each Holder covenants and agrees to note on the face of each Debenture held by it that such Debenture is subject to the provisions of this Agreement. Each Holder hereby consents to the incurrence by the Debtors of the indebtedness evidenced by the Bridge Notes.
Sample 1
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Bridge Funding. On November 27, 2006, December 15, 2006 and January 4, 2007, respectively, the Company issued to several of the Subscribers an aggregate $866,667.00 in promissory notes (“Initial Funding”). On January 18, 2007 and January 26, 2007, respectively, the Company issued to several of the Subscribers an aggregate $800,000.00 in promissory notes (“Second Funding”). Collectively, the Initial Funding and Second Funding are referred to as the “Bridge Fundings”. Upon the Closing of this Offering and the rollover of the Bridge Funding Notes into the Notes being issued herein, all of the Bridge Fundings Notes shall be deemed cancelled. In consideration of entering into this Agreement, and other good and valuable mutual consideration, receipt of which is acknowledged, the Company and Subscribers agree to the following modifications of the terms of the Bridge Fundings.
Sample 1
Bridge Funding. Xxxx shall provide A-GTech with $50,000 on July 15, 2002, and an additional $50,000 each 30 days until the Closing (the "Bridge Funding"). It is acknowledged that Xxxx has advanced A-GTech a total of $283,000 as of June 30, 2002. Additionally, $1,500,000 of cash is to be advanced prior to the Closing to allow A-GTech fulfill a stock redemption and acquisition agreement with A3 Technologies, Inc and its shareholders.
Sample 1
Bridge Funding. Buyer agrees that if all other conditions to its obligations to consummate the transactions contemplated hereby are satisfied other than the condition set forth in Section 9.3(e), Buyer will request that Banc of America fund the bridge financing under the Bridge Commitment Letter pursuant to the terms thereof.
Sample 1
Bridge Funding. In cases where external funding has been terminated, bridge funding for the compensation of a Research faculty member by the University of up to six (6) months may be available for the Research faculty member who has served six (6) or more consecutive years at the University in a research capacity and has, in the judgment of the xxxx, a history of satisfactory review. Such funding will only be provided if the faculty member has made demonstrable progress towards the attainment of new grant funding, or is named as an expected member of a proposed grant team. In the event that an unexpected cessation of grant funding makes such preparation impossible, a faculty member who would otherwise qualify for bridge funding may be recommended for such funding to the xxxx by the department chair or equivalent. In all cases, the Xxxxxxx shall decide in his or her discretion whether or not to offer bridge funding, and if so, to what extent. As soon as practical after it is known that bridge funding would be needed, and before expiration of the faculty member’s funding, the Research faculty member shall meet with the department chair and xxxx or his or her designee to determine what continuing or alternative duties would best serve the University. Such bridging shall cease when external funding is secured or the period of the bridge funding expires. The application process for such bridging funds shall follow those outlined in Article 14.10.c.ii of the Agreement between The University of Vermont and United Academics (AAUP/AFT) in effect 9/25/08 – 6/30/11.
Sample 1

Related to Bridge Funding

  • Loan Funding The obligation of the Lender to close the transactions contemplated by this Agreement shall be subject to satisfaction of the following conditions, unless waived in writing by the Lender: (a) all legal matters and Loan Documents incident to the transactions contemplated hereby shall be reasonably satisfactory, in form and substance, to Lender's counsel; (b) the Lender shall have received (i) certificates by an authorized officer or representative of Borrower upon which the Lender may conclusively rely until superseded by similar certificates delivered to the Lender, certifying that (1) all requisite action taken in connection with the transactions contemplated hereby has been duly authorized and (2) the names, signatures, and authority of Borrower's authorized signers executing the Loan Documents, and (ii) such other documents as the Lender may reasonably require to be executed by, or delivered on behalf of, Borrower; (c) the Lender shall have received the Notes with all blanks appropriately completed, executed by an authorized signer for Borrower; (d) the Borrower shall have paid to the Lender the fee(s) then due and payable under this Agreement and the other Loan Documents; (e) Borrower and Guarantor shall each have maintained their respective financial condition in a manner satisfactory to the Lender, and no material adverse change shall have occurred in Borrower's or Guarantor's financial condition or prospects; (f) the Lender shall have received the written opinion(s) of legal counsel for the Borrower selected by the Borrower and satisfactory to the Lender, and covering the Loan Documents and such other matter(s) as the Lender may reasonably require; (g) the Lender shall have received written instructions by the Borrower with respect to disbursement of the proceeds of the Loan; and (h) the Lender shall have received all Security Instruments duly executed by all parties thereto.

  • Per-pupil Funding The School's non-facility general fund per-pupil funding shall be as defined in Sec. 302D-28, HRS. The Commission shall distribute the School's per-pupil allocation each fiscal year pursuant to Sec. 302D-28(f), HRS, and shall provide the School with the calculations used to determine the per-pupil amount each year. All funds distributed to the School from the Commission shall be used solely for the School's educational purposes as appropriated by the Legislature, and the School shall have discretion to determine how such funding shall be allocated at the school level to serve those purposes subject to applicable laws and this Contract.

  • 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:

  • Formula Funding Funding equivalent to the level of funding which would be provided through the funding formula of the LA to a maintained school which had all of that Academy's relevant characteristics, including its number of pupils;

  • Supplemental Funding Unless otherwise defined by program rules, Supplemental Funding is the award of additional funds to provide for an increase in costs due to unforeseen circumstances. The State will comply with all Federal program agency policies and procedures for requesting supplemental grant funding. The State will comply with the following guidelines when requesting supplemental funding for the Medical Assistance Program and associated administrative payments (CFDA 93.778): The State must submit a revised Medicaid Program Budget Report (CMS-37) to request supplemental funding. The CMS guidelines and instructions for completing the CMS-37 are provided in Section 2600F of the State Medicaid Manual (SMM). The CMS/CO must receive the revised Form CMS-37 through the Medicaid Budget Expenditure System/Children's Budget Expenditure System (MBES/CBES) no later than 10 calendar days before the end of the quarter for which the supplemental grant award is being requested. Additional guidance on this policy is available from the respective CMS Regional Office, U.S. Department of Health & Human Services. The State will comply with the following guidelines when requesting supplemental funding for TANF (CFDA 93.558), CCDF (CFDA 93.575), CSE (93.563), and the FC/AA (CFDA 93.658 and CFDA 93.659) programs administered by the U.S. Department of Human Services, Administration for Children and Families (HHS/ACF):

  • Fiscal Funding Notwithstanding any other provision of this agreement, the parties hereto agree that the charges hereunder are payable to the Contractor by the District solely from appropriations received by District. In the event such appropriations are determined by the Chief Financial Officer/Comptroller of the District to no longer exist or to be insufficient with respect to the charges payable hereunder, this Agreement shall immediately terminate without further obligation to the District upon notice that such appropriations no longer exist and are insufficient. If this Agreement is so terminated, then the District shall only pay Contractor for goods and/or services provided by Contractor and accepted by the District up to, through, and including the date of termination. Following the termination of this Agreement under this Section, the parties’ duties to one another shall cease except for those obligations that shall survive the termination of this Agreement, including, but not limited to, the District’s payment obligations for goods and/or services accepted by the District before the date of termination, and the Contractor’s duties to insure and/or indemnify the District and to cooperate with any audit. Termination of this Agreement pursuant to this Section shall not limit either of the parties’ remedies for any breach of this Agreement.

  • State Funding (a) This Contract shall not be construed as creating any debt on behalf of the State of Texas and/or the GLO in violation of Article III, Section 49, of the Texas Constitution. In compliance with Article VIII, Section 6, of the Texas Constitution, it is understood that all obligations of the GLO hereunder are subject to the availability of state funds. If such funds are not appropriated or become unavailable, the GLO may terminate this Contract. In that event, the Parties shall be discharged from further obligations, subject to the equitable settlement of their respective interests, accrued up to the date of termination.

  • Research Funding Alnylam will fund 100% of the costs of conducting the Research Program in accordance with the Research Plan (collectively, the “Research Costs”) to the extent that such Research Costs are incurred under the Budget, including without limitation FTEs (whether employed by Isis or Alnylam) plus any out-of-pocket expenses specified in the Research Plan. By [***], 2009 with respect to the second Calendar Quarter of 2009 and thereafter within [***] Days following [***] each Calendar Quarter, Alnylam will pay Isis [***] for the Alnylam-funded Isis FTEs assigned to the Research Program for such Calendar Quarter (a prorated amount shall be payable for any portion of a Calendar Quarter). With respect to any work to be performed in support of the Research Program during the [***] days following the Restatement Date, if the Parties have not agreed on an initial Research Plan, then Alnylam will make [***] payments for such work based on [***] Isis FTEs. No later than [***] days following the end of each Calendar Quarter, Isis will provide Alnylam with a report of the number of FTEs actually assigned to the Research Program with a summary of the FTEs who performed under the Research Program (“Actual FTE Costs”) and a reasonably detailed accounting of all other Research Costs actually incurred by Isis during such Calendar Quarter (“Actual External Costs”). Alnylam shall not be responsible for any Research Costs incurred by Isis that exceed the [***] amount in the Budget for the work specified in the Research Plan to be conducted by Isis (“Excess Amount”), unless the RMC approves an amendment to the Budget to include such Excess Amount. Similarly, (i) Alnylam will promptly provide Isis a summary of the Alnylam FTEs who performed under the Research Program for a given Calendar Quarter and a reasonably detailed accounting of all other Research Costs actually incurred by Alnylam during such Calendar Quarter, and (ii) Research Costs incurred by Alnylam that exceed the total amount in the Budget for the work specified in the Research Plan to be conducted by Alnylam will not reduce the amounts committed in the Budget to fund Isis’ Research Costs. In addition, upon reasonable request, each Party shall provide the other Party with reasonable documentation of Research Costs incurred by such Party during the Research Term and shall grant the other Party reasonable audit rights consistent with the terms set forth in Section 9.3 in connection with such Research Costs.

  • Program Funding Upon entry into force of this Compact in accordance with Section 7.3, MCC will grant to the Government, under the terms of this Compact, an amount not to exceed Four Hundred Xxxxx-Xxxx Xxxxxxx Xxxx Xxxxxxx Xxxxxxxx Xxxxxx Xxxxxx Dollars (US$459,500,000) (“Program Funding”) for use by the Government to implement the Program. The allocation of Program Funding is generally described in Annex II.

  • 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.

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