Facility Financing Clause Samples
Facility Financing. To finance acquisition of the Facility by the Board, the Counties agree to the following financing plan:
1. Each County will make a loan to the Board sufficient to cover its share of the Facility acquisition as determined by the final Asset Purchase Agreement. Ramsey County will contribute 73% (“▇▇▇▇▇▇ Facility Loan”) and Washington County will contribute 27% (“Washington Facility Loan”) of the funds necessary to complete the purchase of the Facility in sufficient time to effect the transaction.
2. The Board is hereby authorized to use the proceeds of the ▇▇▇▇▇▇ Facility Loan and the Washington Facility Loan to acquire the Facility.
3. Each County shall decide the manner by that it will fund its respective Facility Loan, which may include, but not be limited to, the use of existing cash reserves, the issuance of bonds and use of the bond sale proceeds, or a combination thereof. For the avoidance of doubt, a combination may include a cash payment that is replaced with the proceeds from a bond sale taking place after the acquisition of the Facility.
4. The Board shall be obligated to repay the County Facility Loans on terms and conditions that match, or are otherwise consistent with, any terms and conditions of any bonding Ramsey County may elect to use to fund its Facility Loan. Repayment by the Board will be made on a pro-rata basis to each County based on its respective Facility Loan percentages described above. Payments will be made from and included in the Facility Budget.
Facility Financing. Except as set forth herein, BioVectra will be responsible for financing all costs associated with constructing the Facility.
Facility Financing. The Lead Agents intend and reserve the right to obtain third party financing for this Facility and the Term Loans. Each Lead Agent may elect, at any time, upon written notice to the Borrower, to seek such third party financing. Each of CPS and the Borrower agree to use commercially reasonable efforts to assist such Lead Agent in achieving a successful financing and to cooperate in connection with the preparation of information packages regarding the Receivables and otherwise in Lead Agent’s efforts to obtain such financing, and shall provide any potential financing source (either directly or through distribution to applicable Lead Agent), access to its books, records, financial statements, policies, directors, officers and employees, or other information, in each case, as requested by such financing source for the purpose of evaluating and monitoring such financing; provided, however, that in no event shall the Borrower or CPS have any obligation to pay any costs, fees or expenses payable to such financing source for providing such financing, and the payment of any and all costs, fees and expenses payable to any such financing source for providing such financing or incurred by CPS or the Borrower in connection with such cooperation shall be the sole obligation of such Lead Agent. For the avoidance of doubt and without limiting the obligations of CPS and Borrower under this Section 5.14, no Lead Agent’s Term Loan Commitment is conditioned upon the successful completion of any such third party financing.
Facility Financing. The Facility Entity shall have obtained a loan having terms as set forth in Article IV and otherwise reasonably acceptable to CHP.