Subordinated Indebtedness; CAW Financing Sample Clauses

Subordinated Indebtedness; CAW Financing. If any Initial Capital Costs, Pre-Effective Date Costs and Expenses, Preconstruction Development and Permitting Fees and Expenses or Pre-Acceptance Defense Costs are not permitted to be treated as Indebtedness by reason of the rules governing the Indebtedness or the Indebtedness is insufficient to fund the full amount of such costs or, if the Parties determine that the weighted average cost of the Indebtedness might be reduced by the issuance of Indebtedness (for a portion of such costs) which is subordinate to all other Indebtedness (referred to herein as “Subordinated Indebtedness”), then the Parties shall meet and confer to discuss alternative sources and options for financing any such shortfall and/or reducing the weighted average cost of the Indebtedness. If the Parties, after using their diligent efforts to investigate the same, are unable to find less costly alternative financing to fund such shortfall and/or reduce the weighted average cost of the Indebtedness, CAW shall loan (or may arrange for an Affiliate of CAW to loan) on the terms described below, to MCWD and/or MCWRA, as applicable, up to a total of $17,500,000.00 (individually and collectively, a “CAW Loan”) in fixed rate notes; provided, that MCWD or MCWRA, as applicable, has, in the case of a shortfall, provided CAW with reasonable evidence reasonably acceptable to CAW of the subject cost and the basis for its exclusion from or non- inclusion in the Indebtedness and/or, relative to the costs of the Indebtedness, the reduction in the weighted average cost of the Indebtedness that will be realized as a result of the proposed CAW Loan. Any less costly means of providing funding of an Indebtedness shortfall and/or reducing the weighted average cost of the Indebtedness that is proposed by CAW and which is the financial equivalent to the above-described CAW Loan shall be reasonably considered by MCWD and MCWRA as an alternative to a CAW Loan. If Parties are unable to agree on whether the weighted average cost of the Indebtedness will be reduced by the utilization of any CAW Loan on the terms described in this Section 7.1(c), such determination shall be made by the underwriter for the Indebtedness issued by MCWD and MCWRA. In addition, at any time during the Term of this Agreement, CAW shall make available (or may arrange for an Affiliate of CAW to make available) on the terms described in this Section 7.1(c), up to a total of $8,000,000.00 in revolving credit facilities (individually and collec...
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Related to Subordinated Indebtedness; CAW Financing

  • Subordinated Debt (a) Make or permit any payment on any Subordinated Debt, except under the terms of the subordination, intercreditor, or other similar agreement to which such Subordinated Debt is subject, or (b) amend any provision in any document relating to the Subordinated Debt which would increase the amount thereof or adversely affect the subordination thereof to Obligations owed to Bank.

  • Indebtedness Create, incur, assume or suffer to exist any Indebtedness, except:

  • Additional Debt The Borrower will, promptly upon execution thereof, deliver to the Administrative Agent a copy of each Material Debt Financing Document (excluding, for the avoidance of doubt, commitment letters, fee letters and similar letters with respect to the arrangement, establishment, syndication, or underwriting of any additional Debt); provided, that the Borrower shall have the right to redact any provision set forth in such Material Debt Financing Documents to the extent necessary to comply with binding confidentiality obligations or to protect proprietary market information. Each notice pursuant to this Section shall be accompanied by a written statement of an Authorized Officer of the Borrower (x) that such notice is being delivered pursuant to Section 5.03(a), (b) or (c) (as applicable) and (y) in the case of any notice pursuant to Section 5.03(a)(i), (iv), (v) or (vii), setting forth details of the occurrence referred to therein and stating what action the Borrower has taken and proposes to take with respect thereto. Documents required to be delivered hereto (including pursuant to Section 5.02 and Section 5.03) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet at the website address listed in Section 9.01; or (ii) on which such documents are posted on the Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third‑party website or whether sponsored by the Administrative Agent), provided that the Borrower shall notify the Administrative Agent (by hand delivery, facsimile or electronic mail) of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. Notwithstanding anything contained herein, the Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Borrower with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents.

  • Additional Indebtedness This Indenture does not restrict the Corporation from incurring additional indebtedness for borrowed money or other obligations or liabilities (including Senior Indebtedness) or mortgaging, pledging or charging its properties to secure any indebtedness or obligations or liabilities.

  • Payment of Indebtedness Pledgor will pay the principal sum of the Note secured hereby, together with interest thereon, at the time and in the manner provided in the Note.

  • Bank Financing The Buyer’s ability to purchase the Property is contingent upon the Buyer’s ability to obtain financing under the following conditions: (check one) ☐ - Conventional Loan ☐ - FHA Loan (Attach Required Addendums) ☐ - VA Loan (Attach Required Addendums) ☐ - Other:

  • Financing Arrangement 5.2.1 The Developer shall at its own cost, expenses and risk make such financing arrangement as would be necessary to implement the Project and to meet all of its obligations under this Agreement, in a timely manner.

  • Treatment of Indebtedness Failure of Licensee to satisfy the financial obligations of this License Agreement may result in one or more of the following:

  • Debt Due (a) If the LHIN requires the re-payment by the HSP of any Funding, the amount required will be deemed to be a debt owing to the Crown by the HSP. The LHIN may adjust future funding instalments to recover the amounts owed or may, at its discretion direct the HSP to pay the amount owing to the Crown and the HSP shall comply immediately with any such direction.

  • Payment of Debt Borrower will pay the Debt at the time and in the manner provided in the Note and in this Security Instrument.

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