Examples of Financing Arrangement in a sentence
Financing Costs, for the purpose of determining the Actual Equipment Cost, shall be evidenced by (1) providing a statement from the Approved Lender of all incurred or accrued interest charges and related financing costs or charges owing by TBITEC in connection with the Financing Arrangement or (2) if TBITEC uses its own funds, a calculation of accrued interest certified by an officer of TBITEC.
TBITEC shall have the right to assign its right to receive the Acquisition Payment for security, with the prior written consent of the Chief Executive Officer, which consent shall not be unreasonably withheld, to a reputable nationally recognized lender or lending institution ("Approved Lender") in connection with the financing of the TBITEC-Procured Equipment authorized herein (the "Financing Arrangement").
In connection with TBITEC's request for consent to any such Financing Arrangement, TBITEC shall submit for the Chief Executive Officer's prior review and written approval any and all instruments and documents to be executed by, or binding upon, TBITEC in connection therewith (the "Financing Arrangement Documents").
In the event such Financing Arrangement is approved in writing by the Chief Executive Officer and the Acquisition Payment is so assigned, City shall not be bound, nor shall the terms, conditions, and covenants of the TBITEC Lease nor the rights and remedies of City hereunder be in any manner limited, restricted, modified, or affected by reason of the terms or provisions of the Financing Arrangement Documents.
Other than in connection with the Financing Arrangement permitted above, TBITEC shall not otherwise pledge, hypothecate, encumber, or mortgage the TBITEC Lease or its interest in the TBITEC Lease.