Necessary Financing Clause Samples
The Necessary Financing clause defines the requirement for a party, typically the buyer in a transaction, to secure sufficient funds to complete the purchase or fulfill contractual obligations. In practice, this clause may specify deadlines for obtaining financing, outline acceptable sources of funds, or set conditions under which the agreement may be terminated if financing cannot be secured. Its core function is to protect both parties by ensuring that the transaction only proceeds if the necessary financial resources are available, thereby reducing the risk of default or failed completion due to lack of funds.
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Necessary Financing. Within two hundred forty (240) days after the effective date of the this ENA, CSC shall submit evidence reasonably satisfactory to City, including the financing structure and preliminary commitments, demonstrating CSC can and will obtain the necessary financing in an amount sufficient to pay for development, operation and maintenance of the Proposed Project.
Necessary Financing. Parent has available to it funds sufficient to consummate the transactions contemplated by this Agreement, including to pay the aggregate Merger Consideration to the stockholders of the Company and all fees and expenses it and Merger Sub will incur in connection therewith.
Necessary Financing. 28 SECTION 4.08. No Buyer Stockholder Vote..............28
Necessary Financing. Purchaser shall have arranged for debt and equity financing in amounts and on terms and conditions satisfactory to Purchaser in its discretion sufficient (a) to pay the Purchaser Price, (b) provide Purchaser with working capital for Purchaser's operation of the Cellular System after the Closing and (c) for the purchase of the assets and business related to the Cellular System owned by SBC or to construct a comparable self-sufficient cellular system (the "Necessary Financing"), and the proceeds of the Necessary Financing shall be available to Purchaser at the Closing; PROVIDED, HOWEVER, that if Purchaser has not advised Seller in writing prior to October 23, 1996 that the Necessary Financing cannot be obtained, the conditions set forth in this Section 11.07 shall no longer apply and shall have been satisfied.
Necessary Financing. 19 Section 11.08 No Material Adverse Change ............................. 19 Section 11.09
Necessary Financing. Within one hundred eighty (180) days after the effective date of this ENA, EEG shall submit evidence reasonably satisfactory to City, including the financing structure and preliminary commitments, demonstrating EEG can and will obtain the necessary financing in an amount sufficient to pay for development and operation of the Proposed Project. It is anticipated such evidence will include letters of intent from prospective tenants of the office complex.