Fund Indebtedness Sample Clauses

The 'Fund Indebtedness' clause defines and governs the types and limits of debt that a fund is permitted to incur under an agreement. Typically, this clause outlines what constitutes indebtedness for the fund, such as loans, credit facilities, or guarantees, and may set caps on the total amount of debt or specify approved lenders. By clearly delineating permissible borrowing activities, the clause helps manage financial risk and ensures that the fund operates within agreed-upon leverage parameters, thereby protecting the interests of investors and counterparties.
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Fund Indebtedness. In connection with any borrowings by the Fund, the Fund will cause to be delivered to the Custodian by a bank or broker requiring Securities as collateral for such borrowings (including the Custodian if the borrowing is from the Custodian), a notice or undertaking in the form currently employed by such bank or broker setting forth the amount of collateral. The Fund shall promptly deliver to the Custodian a Certificate specifying with respect to each such borrowing: (a) the name of the bank or broker, (b) the amount and terms of the borrowing, which may be set forth by incorporating by reference an attached promissory note duly endorsed by the Fund, or a loan agreement, (c) the date, and time if known, on which the loan is to be entered into, (d) the date on which the loan becomes due and payable, (e) the total amount payable to the Fund on the borrowing date, and (f) the description of the Securities securing the loan, including the name of the issuer, the title and the number of shares or the principal amount. The Custodian shall deliver on the borrowing date specified in the Certificate the required collateral against the lender's delivery of the total loan amount then payable, provided that the same conforms to that which is described in the Certificate. The Custodian shall deliver, in the manner directed by the Fund, such Securities as additional collateral, as may be specified in a Certificate, to secure further any transaction described in this Article VII. The Fund shall cause all Securities released from collateral status to be returned directly to the Custodian and the Custodian shall receive from time to time such return of collateral as may be tendered to it. The Custodian may, at the option of the lender, keep such collateral in its possession, subject to all rights therein given to the lender because of the loan. The Custodian may require such reasonable conditions regarding such collateral and its dealings with third-party lenders as it may deem appropriate.
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Fund Indebtedness. (a) The General Partner shall have the right, at its option, to cause any Fund Entity other than the Partnership to incur or assume Indebtedness from any Person to finance Investments made, directly or indirectly, and to pledge or otherwise encumber assets of any such Fund Entity to secure any such Indebtedness, subject to the following: (i) Following repayment of the NY Trust Mezzanine Loan, the Partnership shall not consent to NY Trust and its subsidiaries incurring any Indebtedness in excess of 55% of the Current Market Value of the Investments held by NY Trust at the time any such Indebtedness is incurred, and, the Partnership will not consent to NY Trust II and its subsidiaries incurring any Indebtedness in excess of 55% of the Current Market Value of 600 Lexington at the time any such Indebtedness is incurred. (ii) The Fund shall not incur any Indebtedness other than the Indebtedness permitted under clause (i) of this Section 3.6(a) unless, after giving effect to such incurrence, (A) the aggregate amount of such other Indebtedness is not more than 50% of the Current Market Value of all Investments other than the Initial Asset Group at the time any such other Indebtedness is incurred (the "Aggregate Debt Limit"); and (B) the total amount of Indebtedness that is secured by any one Investment other than one of the Initial Asset Group shall not exceed 65% of the Current Market Value of such Investment at the time such Indebtedness is incurred (the "Single Asset Debt Limit"). (iii) Notwithstanding clause (ii)(A) of this Section 3.6(a), the General Partner may cause the Partnership to consent to the Fund incurring Indebtedness in excess of the Aggregate Debt Limit, if the General Partner determines that it is advisable to do so in connection with the acquisition by any Operating Company of a new Investment; provided that, at the time such excess Indebtedness is incurred, the General Partner makes a reasonable determination that Fund Indebtedness will be within the Aggregate Debt Limit within one year after the incurrence of such excess Indebtedness. (b) In connection with the incurrence of Indebtedness by any Fund Entity, the General Partner shall have the right, in its discretion, to pledge to the lender the right of the General Partner to issue Capital Calls in respect of the Unfunded Commitments of the Partners, and to enforce the obligations of the Partners to make Capital Contributions in respect thereof, in accordance with the terms and conditions of...
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Fund Indebtedness. 19 SECTION 3.7 Issuance of Units............................................................. 20 SECTION 3.8
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Fund Indebtedness. (a) The Managing General Partner shall have the right, at its option, to cause any Fund Entity other than the Partnership to incur or assume Indebtedness from any Person to finance Investments made, directly or indirectly, and to pledge or otherwise encumber assets of any such Fund Entity to secure any such Indebtedness, subject to the following: (i) The Partnership shall not consent to NY Trust and its subsidiaries incurring any Indebtedness in excess of 55% of the Current Market Value of the Investments held by NY Trust at the time any such Indebtedness is incurred.
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Fund Indebtedness. In connection with any borrowings by the Fund, the Fund will cause to be delivered to the Custodian by a bank or broker requiring Securities as collateral for such borrowings (including the Custodian if the borrowing is from the Custodian), a notice or undertaking in the form currently employed by such bank or broker setting forth the amount of collateral. The Fund
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Related to Fund Indebtedness

  • Investments; Indebtedness PNU shall not, and shall not permit any of its Subsidiaries to, other than in connection with actions permitted by Section 4.1(e), (i) make any loans, advances or capital contributions to, or investments in, any other Person, other than (x) by PNU or a direct or indirect wholly owned Subsidiary of PNU to or in PNU or any direct or indirect wholly owned Subsidiary of PNU, (y) pursuant to any contract or other legal obligation of PNU or any of its Subsidiaries as in effect at the date of this Agreement or (z) in the ordinary course of business consistent with past practice in an aggregate amount not in excess of the aggregate amount specified in Section 4.1(g) of the PNU Disclosure Schedule or (ii) create, incur, assume or suffer to exist any indebtedness, issuances of debt securities, guarantees, loans or advances not in existence as of the date of this Agreement except pursuant to the credit facilities, indentures (but not in excess of amounts authorized for issuance thereunder as of the date of this Agreement) and other arrangements in existence on the date of this Agreement or trade debt and commercial finance in the ordinary course of business consistent with past practice, in each case as such credit facilities, indentures and other arrangements and other existing indebtedness may be amended, extended, modified, refunded, renewed or refinanced after the date of this Agreement which does not increase the aggregate principal amount or amount of the facility, as the case may be.

  • Indebtedness Create, incur, assume, or be liable for any Indebtedness, or permit any Subsidiary to do so, other than Permitted Indebtedness.

  • Company Indebtedness To the extent reasonably requested by Parent, the Company shall, and shall cause its Subsidiaries to, deliver all notices and take all other actions required to facilitate (a) the termination of commitments in respect of the Company Credit Agreement and Zions Facility and the repayment in full of all obligations in respect of any Indebtedness incurred under the Company Credit Agreement or the Zions Facility, and (b) the termination, repayment, redemption or defeasance of any other Indebtedness for borrowed money incurred by any of the Company and its Subsidiaries after the date of this Agreement and the repayment in full of all obligations in respect of such Indebtedness (it being understood that the Company shall promptly and, in any event, no later than ten days prior to the Merger Closing Date notify Parent of the amount of any such Indebtedness incurred or to be incurred and expected to be outstanding on the Merger Closing Date), and the release of any Encumbrances securing any such Indebtedness described in the foregoing clauses (a) and (b) and guarantees in connection therewith on the Merger Closing Date. In furtherance and not in limitation of the foregoing, the Company and its Subsidiaries shall deliver to Parent (A) at least three Business Days prior to the Merger Closing Date, a draft payoff letter and (B) at least one Business Days prior to the Merger Closing Date, executed payoff letters, with respect to the Company Credit Agreement and the Zions Facility (the “Company Payoff Letters”) in form and substance customary for transactions of this type and in all events subject to Parent’s reasonable consent, from the lenders or other applicable third party (or an authorized agent on behalf thereof) to whom such Indebtedness is owed, which Company Payoff Letters together with any related release documentation shall, among other things, include the payoff amount (the “Company Payoff Amounts”) and provide that Encumbrances (and guarantees), if any, granted in connection therewith relating to the assets, rights and properties of the Company and its Subsidiaries securing the Company Credit Agreement and Zions Facility and any other obligations secured thereby, shall, upon the payment of the Company Payoff Amounts at or prior to the Merger Closing, be released and terminated (and, as promptly as possible following the Merger Closing if not delivered prior to such time, as applicable, termination instruments or release filings of all such Encumbrances securing such Indebtedness, in form and substance reasonably satisfactory to Parent).

  • Subordinated Indebtedness The Obligations constitute senior indebtedness which is entitled to the benefits of the subordination provisions of all outstanding Subordinated Indebtedness.

  • Intercompany Indebtedness The Company shall not create, incur, assume or otherwise become or remain directly or indirectly liable with respect to any Indebtedness arising from loans from any Subsidiary to the Company unless (a) such Indebtedness is unsecured and (b) such Indebtedness shall be expressly subordinate to the payment in full in cash of the Obligations on terms satisfactory to the Administrative Agent.