Takeout Financing Sample Clauses
The Takeout Financing clause defines the arrangement by which a short-term loan is replaced or "taken out" by a long-term financing solution, typically once certain project milestones are met. In practice, this clause outlines the conditions under which the initial lender will be repaid by a new lender, often specifying timelines, required approvals, and the nature of the replacement financing. Its core function is to provide assurance to both borrowers and initial lenders that there is a clear plan for transitioning from interim to permanent financing, thereby reducing risk and uncertainty in large-scale projects or real estate transactions.
Takeout Financing. Not later than the Takeout Financing Deadline, the Seller Parties shall effect a Takeout Financing.
Takeout Financing. PNB may also use up to 20% of the ADB funds to buy out qualified solar rooftop loans from other financial institutions under each tranche in order to better consolidate sector assets. Takeout finance may include subprojects that are financially closed or under construction. Any takeout financing would follow prevailing national norms, and comply with the same ADB requirements as applied to any other subprojects funded under the SRIP.
Takeout Financing. In the event that all of the Obligations have not been repaid by the date that is sixty (60) days prior to the Maturity Date, the Borrower shall either (a) notify the Banks that it has sufficient funds to repay the Obligations on or before the Maturity Date and identify the source of those funds, or (b) commence to take all necessary or desirable steps to issue debt securities of the Borrower, in an aggregate amount sufficient that the net proceeds of such sale shall not be less than the amount of the Obligations which remain outstanding as of the time of such sale. The Borrower agrees that such debt securities will be offered and sold at pricing and other terms and conditions recommended by the Banks as necessary and appropriate to effect a sale of such debt securities in an amount sufficient to repay the outstanding Obligations. In connection with such offering and sale, each of the Banks shall be designated a managing underwriter of such offering, and such underwriting shall be done on a best efforts basis and pursuant to documentation acceptable to the Borrower and to each Bank. The net proceeds of such offering shall be used to repay the Obligations to the Banks and, if such proceeds exceed the amount of the outstanding Obligations, any excess shall belong to the Borrower.
Takeout Financing. If, on or prior to the Commitment Termination Date, Leaf I shall enter into and become a borrower under any credit facility with a third-party lender, then Leaf I shall cease to be a Borrower hereunder and any amounts advanced to Leaf I hereunder shall be due in full immediately; provided, however, that if the Bank and the Borrowers other than Leaf I agree that such third-party credit facility is not a permanent financing, then Leaf I shall remain a Borrower hereunder.
Takeout Financing. UBHC shall immediately commence efforts to ------------------ obtain takeout financing in an amount sufficient to satisfy the Final Judgment and shall diligently exercise its best efforts to close on such financing as soon as possible.