Additional Obligation definition
Examples of Additional Obligation in a sentence
Any portion of the text of any Additional Obligation may be set forth on the reverse or subsequent pages thereof, with an appropriate reference thereto on the face of the Additional Obligation if desired.
The principal amount of the Financing Program set forth in Section 201, may be increased by the Corporation pursuant to Section 1101(m) and a Supplemental Agreement, upon a finding by the Corporation to the effect that Pledged Revenues and any other revenues (including any Additional Obligation Security) are expected to be sufficient to pay the Debt Service Requirements of all Outstanding Obligations and any then proposed Additional Obligations.
If any Priority Claimholder is required in any Insolvency or Liquidation Proceeding, or otherwise, to turn over or otherwise pay to the estate of any Grantor any amount in respect of any Working Capital Obligation, any Term Loan Obligation or any Additional Obligation, as applicable (a “Recovery”), then such Claimholder shall be entitled to a reinstatement of its Obligations with respect to all such recovered amounts.
In addition, the Borrower agrees to pay any present or future stamp, transfer, registration, excise, issue, documentary or other taxes, charges or similar levies which arise from any payment made under this Agreement or the Additional Obligation Loans or in respect of the execution, delivery or registration or the compliance with this Agreement contemplated hereunder other than Excluded Taxes.
Buyer shall own one hundred percent (100%) of the working interest in the ▇▇▇▇ Gas Field Obligation Well and both Additional Obligation ▇▇▇▇▇ and in any other ▇▇▇▇▇ drilled by Buyer in the North Tongue AMI, subject to Seller's retention of an overriding royalty interest equal to the difference between existing leasehold burdens and twenty-five percent (25%), if any.
Prior to the first Drawdown under the Additional Obligation Facilities, the Lenders and the Borrower shall in good faith and acting reasonably negotiate a Drawdown schedule (as amended from time to time in accordance with the provisions hereof, the “Drawdown Schedule”) in respect of the Additional Obligation Loans, to be adjusted quarterly as needed.
On or before December 15th of each tax year, PDC shall compute the amount of the Additional Obligation (each, an “Additional Payment”) by multiplying the applicable debt service payment amount set forth on Exhibit V-1 by a fraction, the numerator of which is the difference between the Target RMV and the Additional RMV and the denominator of which is the Target RMV.
The parties hereby agree that the Obligations, as defined in the Pledge Agreement, shall include the Additional Obligation, which shall be secured by the Pledge Agreement.
Notwithstanding any other provision hereof, effective upon the occurrence of an Event of Default which is continuing, the interest rates then applicable to the Additional Obligation Loans will each increase by 100 bps per annum and such increase will remain in effect for as long as such Event of Default subsists.
The obligations of each Lender hereunder to make Advances under the Additional Obligation Facilities are obligations made only to the other Lender and may only be enforced by the Lenders against each other.