Closing Credit definition

Closing Credit means the aggregate amount of funds, if any, provided by Buyer or any Affiliate thereof to, and actually received by, Seller prior to Closing, in each case upon the request of Seller, specifically for the purpose of defraying the cost of the HRSG Overhaul (it being understood that Buyer shall be responsible for paying or reimbursing Seller for 100% of the actual documented cost of the HRSG Overhaul) and payments by Buyer to Seller under a certain Agreement between Buyer and Seller, dated August 28, 2006, with respect to steam turbine repair prior to Closing (the “Steam Turbine Repair”). Prior to the date hereof, Buyer has paid Seller $4,932,772.73 for the cost of the HRSG Overhaul and it is anticipated that between the date hereof and Closing Buyer will pay an additional $67,227.27 towards the HRSG Overhaul and Buyer has paid Seller zero dollars for the cost of the Steam Turbine Repair and it is anticipated that between the date hereof and Closing Buyer will pay an additional $4,500,000.00 towards the Steam Turbine Repair.
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Closing Credit means, only if a positive number (i.e., if it is not a positive number, the Closing Credit shall be deemed to be zero), an amount equal to 70% of the earnings before interest and taxes of the Business for the period between March 31, 2024 and the Closing, calculated in a manner consistent with Schedule VII.
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Closing Credit has the meaning set forth in the Second Amendment.
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Examples of Closing Credit in a sentence

  • The term "Net Purchase Equity" as used herein shall mean the amount of the Purchase Price for the Property, increased by any closing costs and adjustments, and decreased by the Closing Credit (if applicable) and by the net proceeds of the mortgage used to fund the Purchase Price.

  • At the time of delivery of each Aircraft, Boeing will issue to Customer an Executive closing credit memorandum (Executive Closing Credit Memorandum) in an amount of [*CTR].

  • Boeing will issue to Customer an executive closing credit memorandum (Executive Closing Credit Memorandum) in an amount of [********].

  • As of the date of each Credit Extension other than the Closing Date and the date upon which the ▇▇▇▇▇ Closing Credit Extensions are made, since the date of the Audited Financial Statements, there has been no event or circumstance, either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect.

  • Purchaser shall use the Early Closing Credit and all additional required amounts to pay all of its due diligence, closing and other costs related to this transaction, Purchaser’s attorneys fees and fees and commissions required to be paid to Sperry ▇▇▇ ▇▇▇▇ and any other brokers or agents retained by Purchaser.

  • In consideration of Customer’s purchase of the 737-800 Aircraft, and in recognition of Customer’s purchase of 737 MAX aircraft under ▇▇▇-▇▇-▇▇▇▇▇, ▇▇▇▇▇▇ will issue a multi model closing credit memorandum (Multi Model Closing Credit Memorandum) in the amount of ****.

  • In connection with Closing, Buyer shall repay, or cause to be repaid, on behalf of the Company Group, the Payoff Amount and any other outstanding amount of indebtedness of the Company Group pursuant to the Closing Credit Agreement or other applicable agreement by wire transfer of immediately available funds as provided for in the applicable Payoff Letter.

  • Simultaneously with the Closing, Buyer shall repay, or cause to be repaid, on behalf of the Company Group, the outstanding amount of Indebtedness under the Closing Credit Agreement and any other Indebtedness for borrowed money, including under the GS Note, by wire transfer of immediately available funds pursuant to a Payoff Letter.

  • For purposes of this Agreement, the “Tax Payment Guarantee Termination Date” is five years after the date the Village has received payments from Developer in an amount equal to the Closing Credit through the sum of all of the following: (i) the Village’s portion of the real estate taxes paid by Developer on the portion of the assessed value of the Jump Around Property, plus (ii) payments made under this Section.

  • APS shall have the right to select one of the above-referenced methodologies with respect to such Closing Credit Amount, which amount must be disclosed in writing to Parent on or before the Closing Date.