Future Funding Obligations. The Borrower shall not acquire any Contract pursuant to which it may be required to make any future advances or payments.
Future Funding Obligations. Notwithstanding anything to the contrary contained herein (including the provisions of Sections 9.1.1 9.1.8, 10.19 and 10.21 hereof), the parties acknowledge that the obligations of the Lender hereunder to fund the Advances (the “Future Funding Obligations”) will be solely the obligation of Greenwich Capital Financial Products, Inc. and/or any subsequent holder of the Floating Rate Note which, together with its Affiliates, maintains a net worth of at least $50,000,000 (the “Holder”), provided however, in connection with any Securitization of the Floating Rate Loan, no Future Funding Obligation will be transferred or assigned to any Servicer or any trust or trustee or substituted or successor trustee established in connection with any such Securitization. Greenwich Capital Financial Products, Inc. and/or the Holder will have a participation interest in the Floating Rate Note to the extent of any funds advanced pursuant to the Future Funding Obligations. Any funds advanced pursuant to a Future Funding Obligation shall be owing to Greenwich Capital Financial Products, Inc. or the Holder, but in the event that Borrower has insufficient funds to pay both the holder of the Fixed Rate Note and the holder of the Floating Rate Note, the holder of the Fixed Rate Note shall have a prior right to such payment and a prior lien on the Property.
Future Funding Obligations. Notwithstanding anything to the contrary contained herein (including the provisions of Sections 10.1.8, 11.19 and 11.21 hereof), the parties acknowledge that the obligations of the Lender hereunder to fund the Additional Advances (the “Future Funding Obligations”) will be solely the obligation of Greenwich Capital Financial Products, Inc. and, in connection with a Secondary Market Transaction, will not be transferred or assigned to any subsequent holder of the Note (the “Holder”), including the Servicer and any trust or trustee or substituted or successor trustee established in connection with a Secondary Market Transaction. Greenwich Capital Financial Products, Inc. will have a participation interest in the Note to the extent of any funds advanced pursuant to the Future Funding Obligations. Any funds advanced pursuant to a Future Funding Obligation shall be owing to Greenwich Capital Financial Products, Inc., but in the event that Borrower has insufficient funds to pay both the Holder and Greenwich Capital Financial Products, Inc., the Holder shall have a prior right to such payment and a prior lien on the Collateral.
Future Funding Obligations. Each Party acknowledges that upon inclusion of a JVC Product within the scope of the JVC, the JVC should be adequately funded to initiate the Plan and Budget for such JVC Product during the following six (6)-month period. Furthermore, on each six (6)-month anniversary of the Ratification Date for a JVC Product, the JVC should be adequately funded to perform its activities in the following six (6)-month period as set forth in the applicable Semi-annual Plan and Budget. In the event any additional funding is required within any such six (6)-month period, the Operations Committee shall propose an amendment to the applicable Semi-annual Plan and Budget for the Board’s approval. Upon the Board’s approval of such amendment, each Party shall contribute any additional capital required by such amended Semi-annual Plan and Budget in accordance with their respective Ownership Interests. Accordingly, each Party agrees to provide funding to the JVC in accordance with its obligations under each Plan and Budget and each Semi-annual Plan and Budget, and each Party further agrees that neither Party will be required under the terms of this Agreement to provide any further share capital, shareholder loans or other funding to the JVC unless otherwise mutually agreed by the Parties pursuant to the terms and conditions set forth in the applicable Plan and Budget or Semi-annual Plan and Budget.
Future Funding Obligations. Seller may request that Administrative Agent advance additional Purchase Price with respect to amounts funded by Seller in connection with Future Funding Obligation(s). Administrative Agent may advance such additional Purchase Price in its sole and absolute discretion and upon a certification from the Servicer that the conditions to such Future Funding Obligation have been satisfied and such amounts have been advanced. For the avoidance of doubt, in no event shall Administrative Agent advance additional Purchase Price to the extent it would result in the aggregate outstanding Purchase Price to exceed the Maximum Aggregate Purchase Price.
Future Funding Obligations. Notwithstanding anything to the contrary in this Agreement or in any other Loan Document, Borrower acknowledges and agrees that, in the case of any Pledged Asset pledged to Administrative Agent on or subsequent to the date hereof and for which any Pledged Asset Document includes any Future Funding Obligation, (A) Administrative Agent does not hereby assume any liability to make, pay or perform any Future Funding Obligation or otherwise perform any of Borrower’s or its predecessors-in-interest’s obligations in connection therewith, (B) Borrower shall remain solely liable for, and agrees hereby to pay and to perform or to cause to be paid and performed, any such Future Funding Obligation, (C) such Future Funding Obligation shall constitute Secured Obligations of Borrower under this Agreement, and (D) in addition to all other rights and remedies of Administrative Agent hereunder, Borrower and each Guarantor each hereby agrees to indemnify and hold harmless Administrative Agent, each Lender and their respective Affiliates from and against any and all liabilities, losses, damages, judgments, costs and expenses (including, without limitation, reasonable fees and expenses of counsel) (“Costs”) imposed on, incurred by or asserted against Administrative Agent or such Indemnified Party as the result of Borrower’s or any of its predecessors-in-interest’s performance or non-performance of any Future Funding Obligation, including any Costs occasioned by Administrative Agent’s inability to exercise any remedy, or any delay with respect to Administrative Agent’s exercise of any remedy, under or in respect of any Pledged Asset that includes a Future Funding Obligation. In the event that Borrower or any Affiliate of Borrower performs any Future Funding Obligation by extending credit to any Underlying Borrower under any Pledged Asset Document which is secured by a Lien on any Underlying Collateral or Underlying Property all or a portion of which is included in or otherwise the subject of any Collateral File, Borrower shall, at Administrative Agent’s election, deliver to Administrative Agent simultaneously therewith, a subordination and intercreditor agreement in form and substance satisfactory to Administrative Agent, pursuant to which Borrower and Servicer shall subordinate any rights to payment and enforcement thereof as such rights relate to any funded Future Funding Obligation to the rights and remedies of Administrative Agent with respect to such Pledged Asset and to t...
Future Funding Obligations. The Purchaser hereby covenants to notify the Seller if the Purchaser receives notice under the Ocensa Agreement that the shareholders of Ocensa have an opportunity to acquire additional equity shares under the Ocensa Agreement or that any shares of Ocensa capital stock are proposed to be issued under the Ocensa Agreement.
Future Funding Obligations. H. In connection with the Mezzanine A and B Payoff, Lender has agreed to make certain modifications to the Loan, including, inter alia, extending the Maturity Date to the Third Extended Maturity Date (i.e., February 9, 2012), permitting Borrower to repay the Loan at a potential discount, and permitting Borrower to extend the Term of the Loan for another twelve-month period, all as subject to the terms and conditions set forth herein.
Future Funding Obligations. Except for the Series B Obligation and except as disclosed on the Asset Schedule or in the Due Diligence Materials, no Borrower or any related Interested Person has any right to the disbursement of additional loan proceeds in the case of Loans or additional equity contributions in the case of Preferred Equity Interests, as applicable, by such Seller Party with respect to the Assets, and there are no conditions or circumstances which if satisfied or occurring at any time in the future would give rise to a right of such Borrower or any related Interested Person to such a disbursement.
Future Funding Obligations
