Financing Failure Sample Clauses

The Financing Failure clause defines the consequences and procedures if a party is unable to secure the necessary financing for a transaction. Typically, this clause outlines the timeframe within which financing must be obtained and specifies what happens if the financing is not secured, such as allowing either party to terminate the agreement without penalty or requiring notice to the other party. Its core practical function is to allocate risk and provide a clear exit mechanism in situations where the deal cannot proceed due to lack of funding, thereby protecting both parties from being bound to an unworkable agreement.
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Financing Failure. A “Financing Failure” shall be deemed to have occurred in the event that an Indebtedness shortfall and/or the desired reduction in the weighted average cost of the Indebtedness requires a CAW Loan greater than $17,500,000.00 and/or a CAW Credit Line greater than $8,000,000.00 and, within ninety (90) days of determining such requirement exists, the Parties have not agreed upon a means to fund such shortfall or obtain such reduction in the weighted average cost of the Indebtedness.
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Financing Failure. “Financing Failure” shall mean a refusal or other failure, for any reason, on the part of any Person that has executed the Debt Commitment Letter or any definitive financing document relating to the Debt Financing, or on the part of any other Person obligated or expected at any time to provide a portion of the Debt Financing, to provide a portion of such Debt Financing; provided, however, that any such refusal or other failure shall not be deemed to be a “Financing Failure” for purposes of the Agreement if such refusal or other failure results directly from a Willful Breach of any of the Parent Financing Covenants.
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Financing Failure. (A) The conditions set forth in Section 6.1 and Section 6.2 (other than conditions that by their nature are to be satisfied at the Effective Time) have been satisfied or waived by Purchaser, (B) Corporation has delivered a notice to Purchaser pursuant to this Section 7.2(1)(c)(iii), including a statement that the conditions set forth in Section 6.3 (other than conditions that by their nature are to be satisfied at the Effective Time, including Section 6.3(c)) have been satisfied or waived by Corporation, (C) the Corporation is able to pay the Redemption Consideration, and (D) the Arrangement has not been consummated within three Business Days after the delivery of such notice as a result of the failure by Purchaser to complete the transactions contemplated by this Agreement as required by Section 2.9.
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Financing Failure. No Financing Failure has occurred and is continuing.
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Financing Failure. In the event of a Financing Failure, the Purchaser shall, upon the written request of the Seller, promptly commence a litigation proceeding (which such proceeding shall be managed exclusively by the Purchaser, subject to compliance by the Purchaser with its obligations under (x) clause (IV) of the second sentence of Section 5.8(a) and (y) the fourth sentence of Section 5.8(a)) against any breaching financial institution or institutions under the Debt Commitment Letter in which it will use its reasonable best efforts to compel such breaching institution or institutions to provide its portion of such financing as required.
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Related to Financing Failure

  • Payment Failure Any Credit Party (i) fails to pay any principal when due under this Agreement or (ii) fails to pay, within three Business Days of when due, any other amount due under this Agreement or any other Credit Document, including payments of interest, fees, reimbursements, and indemnifications;

  • Equipment Failures In the event of equipment failures beyond the Administrator's control, the Administrator shall take reasonable and prompt steps to minimize service interruptions but shall have no liability with respect thereto. The Administrator shall develop and maintain a plan for recovery from equipment failures which may include contractual arrangements with appropriate parties making reasonable provision for emergency use of electronic data processing equipment to the extent appropriate equipment is available.

  • Lenders’ Failure to Perform All Advances (other than Swing Loans and Agent Advances) shall be made by the Lenders contemporaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Advance (or other extension of credit) hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligations hereunder, and (ii) no failure by any Lender to perform its obligations hereunder shall excuse any other Lender from its obligations hereunder.

  • Power Failure Power Failure means the failure of power or other utility service if the failure takes place off the "residence premises". But if the failure results in a loss, from a Peril Insured Against on the "residence premises", we will pay for the loss caused by that peril.

  • No Failure to Cure Default The Seller has not received a written notice of default of any senior mortgage loan related to the Mortgaged Property which has not been cured;