Financing Commitment. For the period commencing on the date hereof and ending on the fifth anniversary hereof, Atlas America and Resource Energy agree to provide to the MLP funding of up to an aggregate of One Million Five Hundred Thousand Dollars ($1,500,000) per annum to finance the cost of expanding the Gathering System or constructing new additions to the Gathering System. Atlas America and Resource Energy, jointly and severally, commit to provide such funding, upon the MLP's written request therefor, by purchasing Common Units at a price equal to the arithmetic average of the closing prices of the Common Units on the American Stock Exchange, or, if the American Stock Exchange is not the principal trading market for such security, on the principal trading market for such security, for the twenty consecutive trading days ending on the trading day prior to the purchase, or, if the fair market value of the Common Units cannot be calculated for such period on any of the foregoing bases, the average fair market value during such period as reasonably determined in good faith by the members of the managing board of the General Partner.
Financing Commitment. 22 Section 4.7
Financing Commitment. Definitive agreements between one or more financial institutions or other Persons and the Company or the Financing Corporation pursuant to which such financial institutions or other Persons agree, subject to the conditions set forth therein, to lend money to, or purchase securities of, the Company or the Financing Corporation, the proceeds of which shall be used to finance all or a portion of the Facilities.
Financing Commitment. The Lender agrees to provide to Borrower up to £2,000,000 (GBP) in loans (equivalent to approximately US$2,700,000 at the date of this agreement), in one or more tranches at the lenders discretion. Each loan (“Tranche”) shall be evidenced by a “Convertible Note” in the amount of such Tranche, bearing interest at the rate of 6% per annum, payable semi-annually. Each “Convertible Note” shall be due and payable on the 366th calendar day following receipt by the Borrower of each Tranche (“Maturity Date”). On each Maturity Date, the outstanding Convertible Notes shall be automatically converted into shares of Borrower’s common stock at a conversion price equal to the greater of US$0.02 or the average closing price of Borrower’s common stock on the Over-the-Counter Bulletin Board for the prior 60 trading days. Attached hereto as Exhibit “A” and incorporated herein by reference is a copy of the form of “Convertible Note” that will be issued hereunder. In the event of any discrepancy between this Agreement and the “Convertible Notes”, the terms and conditions of the Convertible Notes shall control.
Financing Commitment. By no later than thirty (30) days in advance of the projected Commercial Operation Date notified to Citizens pursuant to Section 4.2.13(b), Citizens shall execute definitive financing documents with financing parties that commit such financing parties (subject to customary conditions that Citizens reasonably believes will be satisfied on or prior to such projected Commercial Operation Date) to provide Citizens with sufficient financing to pay the Prepaid Rent (as defined in the S- Line Incremental Transfer Capability Lease) pursuant to the S- Line Incremental Transfer Capability Lease on such projected Commercial Operation Date.
Financing Commitment. Prior to the expiration of the Due Diligence Period, Buyer shall provide Seller with a financing commitment or commitments, which has or have been accepted by Buyer from one or more equity investors or institutional lenders, to finance the purchase and redevelopment of the Property and adjacent parcels (the “Financing Commitment”). The Financing Commitment shall be consistent with the provisions of Section 4 above. In order to constitute a Financing Commitment, a commitment must be duly authorized by the issuer, and must be in substantially the same form and level of detail typically utilized by a prospective lender or investor in similar transactions, including requirements for Closing and conditions thereof; and, in the case of loan commitments, setting forth the proposed principal amount, interest rate, amortization terms, collateral or guaranty requirements, maturity date, improvements to be constructed, and the expiration date of the commitment.
Financing Commitment. As of the date hereof, Parent has delivered to the Company true and complete copies of an executed commitment letter and fee letter redacted for fees from the Financing Sources identified therein (collectively, the “Financing Commitment,” which includes any offering of debt or equity securities contemplated by the Financing Commitment) to provide, subject to the terms and conditions therein, financing in the amounts set forth therein (being collectively referred to as the “Financing”). As of the date hereof, the Financing Commitment has not been amended or modified, no such amendment or modification is contemplated, and none of the obligations and commitments contained in such letters have been withdrawn, terminated or rescinded in any respect. Parent or Merger Sub has fully paid any and all commitment fees or other fees in connection with the Financing Commitment that are payable on or prior to the date of this Agreement.
Financing Commitment. The Lender shall not sell down, assign or otherwise transfer more than 60% of its aggregate original Commitment with respect to the Facilities at any time without the Borrower’s prior written consent.
Financing Commitment. Parent has received from NationsBank a commitment letter dated December 16, 1996 (a copy of which has been heretofore furnished to the Company) to provide funds necessary for the consummation of the Offer and the Merger which letter has not been revoked. Parent has accepted such commitment pursuant to its terms and has paid all fees due thereunder as of the date hereof.
Financing Commitment. Buyer has sufficient funds to pay the Purchase Price or, alternatively, has secured a financing commitment from a third party in an amount sufficient to pay the Purchase Price.
