Third Party Borrowing Sample Clauses
Third Party Borrowing. In the event Developer incurs Financing Costs on amounts Developer was loaned to finance and pay for Reimbursable Project Costs from a “non-Affiliate” third party in an arms-length transaction, City shall reimburse Developer as a Reimbursable Project Cost the actual Financing Costs incurred and certified pursuant to Section 19 at a rate not to exceed five percent (5%) per annum. For purposes of calculating interest expenses, Developer shall certify its interest expense pursuant to Section 19 as a separate line item expense. For the month in which interest expense is initially incurred with respect to any advance of funds, the interest expense shall accrue from the 15th day of the month incurred for costs certified from the 1st through the 14th day of a month and from the last day of the month incurred for costs certified after the 15th day of a given month.
Third Party Borrowing. Borrow from any source or charge any property until the Borrower's Dues are paid in full.
Third Party Borrowing. In the event City incurs Financing Costs on amounts City was loaned to finance and pay for Reimbursable Project Costs from a "non-Affiliate" third party in an arms-length transaction, the City shall be reimbursed as a Reimbursable Project Cost the actual Financing Costs incurred and certified pursuant to this Section 20.
Third Party Borrowing. In the event Developer incurs Financing Costs on amounts Developer was loaned to finance and pay for Operating Costs and/or CID Reimbursable Project Costs from a "non-Affiliate" third party in an arms-length transaction, the District shall reimburse the Developer as Operating Costs and/or CID Reimbursable Project Cost the actual out-of-pocket Financing Costs incurred and certified pursuant to Section 4.3. For purposes of calculating interest expenses, Developer shall certify its interest expense pursuant to Section 4.3 as a separate line item expense. For the month in which interest expense is initially incurred with respect to any advance of funds, the interest expense shall accrue from the 15th day of the month incurred for costs certified from the 1st through the 14th day of a month and from the last day of the month incurred for costs certified after the 15th day of a given month.
Third Party Borrowing. In the event Developer incurs Financing Costs on amounts Developer was loaned to finance and pay for Reimbursable Project Costs from a “non- Affiliate” third party in an arms-length transaction, City shall reimburse Developer as a Reimbursable Project Cost the actual Financing Costs incurred and certified pursuant to this Article. In no event shall the interest on amounts loaned under this subsection exceed ten percent (10.0%) per annum. Developer shall use best commercially reasonable efforts to obtain annual interest rates on loans under this subsection which are less than or equal to the UMB prime rate plus one percent (1.0%).
Third Party Borrowing. If, in order for a Company, or any of the Project Entities, to borrow money from banks and others on terms acceptable to each Company or the corresponding Project Entity, it is necessary for such borrowings to be wholly or partially guaranteed, the Shareholders may each severally guarantee such borrowings in proportion to the number of Shares then held in the capital of each Company by each Shareholder, provided that such limited several guarantees shall in each case be in such form as the Extraordinary Shareholders’ Meeting of the corresponding Company may approve.
Third Party Borrowing. In the event Developer incurs Financing Costs on amounts Developer was loaned to finance and pay for Reimbursable Project Costs from a "non-Affiliate" third party in an arms-length transaction, City shall reimburse Developer as a Reimbursable Project Cost the actual Financing Costs incurred and certified pursuant to this Section 25, which interest shall not compound; provided, however, in no event shall the amount of reimbursable Developer's interest exceed a rate of Prime Rate plus three percent (3%).