EXCESS FINANCING COSTS definition

EXCESS FINANCING COSTS means the sum of (a) that portion of the interest expense of the Partnership for each period in which the drawn down portion of the Non-Construction Loan Indebtedness exceeds Thirty-Nine Million Dollars ($39,000,000.00) and which is attributable to such excess, plus (b) the portion of the costs incurred in connection with obtaining, negotiating and closing all Non-Construction Loan Indebtedness which are either (I) agreed by the Partners, or (II) in the absence of such an agreement, equal to the product of (i) all such costs described in clause (b) incurred by the Partnership as a result of such Non-Construction Loan Indebtedness (but only to the extent such costs would not otherwise have been incurred had the Non-Construction Loan Indebtedness not been in excess of the Indebtedness Threshold), and (ii) a fraction, the numerator of which is the excess of (x) the total Non-Construction Loan Indebtedness, over (y) Thirty-Nine Million Dollars ($39,000,000.00) and the denominator of which is the total Non-Construction Loan Indebtedness.
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EXCESS FINANCING COSTS means the sum of (a) that portion of the interest expense of the Partnership for each period in which the drawn down portion of the Non-Construction Loan Indebtedness exceeds the sum of (I) Thirty-Nine Million Dollars ($39,000,000.00) and (II) the Incremental Indebtedness, and which interest portion is attributable to such excess, plus (b) the portion of the costs incurred in connection with obtaining, negotiating and closing all Non-Construction Loan Indebtedness which are either (I) agreed by the Partners, or (II) in the absence of such an agreement, equal to the product of (i) all such costs described in clause (b) incurred by the Partnership as a result of such Non-Construction Loan Indebtedness (but only to the extent such costs would not otherwise have been incurred had the Non-Construction Loan Indebtedness not been in excess of the Indebtedness Threshold), and (ii) a fraction, the numerator of which is the excess of [(x) the total Non-Construction Loan Indebtedness, over (y) the sum of (I) Thirty-Nine Million Dollars ($39,000,000.00) and (II) the Incremental Indebtedness] and the denominator of which is the total Non-Construction Loan Indebtedness. EXISTING REALTY CLAIMS: Those claims which are so defined in the Realty Purchase Agreements.
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Related to EXCESS FINANCING COSTS

  • Financing Costs means for each calendar day the product of:

  • Project financing gap means the part of the total project cost,

  • Broken Funding Costs means for any Purchaser Interest which: (i) has its Capital reduced without compliance by Seller with the notice requirements hereunder or (ii) does not become subject to an Aggregate Reduction following the delivery of any Reduction Notice or (iii) is assigned under Article XIII or terminated prior to the date on which it was originally scheduled to end; an amount equal to the excess, if any, of (A) the CP Costs or Yield (as applicable) that would have accrued during the remainder of the Tranche Periods or the tranche periods for Commercial Paper determined by the Agent to relate to such Purchaser Interest (as applicable) subsequent to the date of such reduction, assignment or termination (or in respect of clause (ii) above, the date such Aggregate Reduction was designated to occur pursuant to the Reduction Notice) of the Capital of such Purchaser Interest if such reduction, assignment or termination had not occurred or such Reduction Notice had not been delivered, over (B) the sum of (x) to the extent all or a portion of such Capital is allocated to another Purchaser Interest, the amount of CP Costs or Yield actually accrued during the remainder of such period on such Capital for the new Purchaser Interest, and (y) to the extent such Capital is not allocated to another Purchaser Interest, the income, if any, actually received during the remainder of such period by the holder of such Purchaser Interest from investing the portion of such Capital not so allocated. In the event that the amount referred to in clause (B) exceeds the amount referred to in clause (A), the relevant Purchaser or Purchasers agree to pay to Seller the amount of such excess. All Broken Funding Costs shall be due and payable hereunder upon demand.

  • Financing Costs Adjustment Date means each of the following days:

  • Non-Financed Capital Expenditures means Capital Expenditures not financed by the seller of the capital asset, by a third party lender or by means of any extension of credit by Lender other than by means of an Advance under the Revolving Credit Facility.