Financing Contingency definition

Financing Contingency. This Offer is contingent upon Buyer being able to obtain, within ______ days of acceptance of this Offer, a __________________________ [INSERT LOAN PROGRAM (fixed) (adjustable)] [STRIKE ONE] rate first mortgage loan commitment, in an amount of not less than $____________________ for a term of not less than ______ years, amortized over not less than _______ years. If the purchase price under this Offer is modified, the loan amount, unless otherwise provided, shall be adjusted to the same percentage of the purchase price as in this contingency and the monthly payments shall be adjusted as necessary to maintain the term and amortization stated above. IF FINANCING IS FIXED RATE the annual rate of interest shall not exceed _______% and monthly payments of principal and interest shall not exceed $__________________________. IF FINANCING IS ADJUSTABLE RATE the initial annual interest rate shall not exceed _____%. The initial interest rate shall be fixed for ______ months, at which time the interest rate may be increased not more than _____% per year. The maximum interest rate during the mortgage term shall not exceed _____%. Initial monthly payments of principal and interest shall not exceed $__________________. Monthly payments of principal and interest may be adjusted to reflect interest changes. MONTHLY PAYMENTS MAY ALSO INCLUDE 1/12th of the estimated net annual real estate taxes, hazard insurance premiums, and private mortgage insurance premiums. Buyer agrees to pay a loan fee in an amount not to exceed ______% of the loan. [Loan fee refers to discount points and/or loan origination fee, but DOES NOT include Buyer's other closing costs.] SEE LINES 206 TO 221 FOR ADDITIONAL FINANCING PROVISIONS. _____ SECONDARY OFFER: This Offer is secondary to a prior accepted offer. This Offer shall become primary upon delivery of written notice to Buyer that this Offer is primary. Seller agrees to deliver said notice to Buyer promptly upon Seller's receipt of evidence satisfactory to Seller that the prior offer is null and void. Buyer may declare this Offer null and void by delivering written notice of withdrawal to Seller prior to delivery of Seller's notice that this Offer is primary. Buyer may give notice of withdrawal no earlier than ______ hours from acceptance of this Offer. All other Offer deadlines which are measured from acceptance shall be measured from the time this Offer becomes primary. _____ INSPECTION CONTINGENCY: This Offer is contingent upon a qualified in...
Sample 1
Financing Contingency shall have the meaning set forth in Section 27.2.
Sample 1
Financing Contingency. Period shall mean the period commencing on the Effective Date and ending at 5:00 p.m., Dallas, Texas time, on the 15th day after the end of the Approval Period. Improvements shall mean all improvements and related amenities in and on the Land located at 8055 Xxxx Xxxxxx, Xxx Xxxxxxx, Xxxxx, xxown as the "Castle Oaks Village."
Sample 1

Examples of Financing Contingency in a sentence

  • If the Financing Contingency ends without Buyer terminating this Agreement, Seller shall have the right, but not the obligation, to request that Buyer provide Seller with written evidence of Buyer’s financial ability to purchase the Property (“Evidence”).

  • Example: • Buyer may request a shortened or extended closing date • Buyer may request an Appraisal or Financing Contingency All variations are requests and must be approved by the seller before the registration is confirmed.

  • Buyer shall be deemed to have the ability to obtain the Loan(s) unless prior to the end of the Financing Contingency Period, Buyer: a) notifies Seller that Buyer is terminating the Agreement because Buyer has been turned down for the Loan(s) and b) provides Seller within seven (7) days from the date of such notice a letter of loan denial from a mortgage lender based upon the mortgage lender’s customary and standard underwriting criteria (“Loan Denial Letter”).

  • Notwithstanding any provision to the contrary contained herein, the Loan Denial Letter may be provided to Seller after the Financing Contingency Period has ended if the above-referenced seven (7) day period to provide the Loan Denial Letter falls outside of the Financing Contingency Period.

  • This Agreement is conditioned upon the Property appraising by Purchaser’s lender or an appraiser of Purchaser’s choice at no less than the Purchase Price by the later of the expiration of the Financing Contingency Period or the Inspection Period.

  • Notwithstanding anything to the contrary in this Agreement, Buyer shall have the period commencing on the Effective Date and expiring at 5:00 p.m. (Pacific time) on December 22, 2017 (the “Bond Financing Contingency Period”) to secure bond financing in an amount sufficient to pay the Purchase Price (the “Bond Financing”).

  • Upon the expiration of both the Approval Period and the Bond Financing Contingency Period, the Deposit shall become non-refundable to Buyer, except in the event that (i) Seller fails, refuses, or is unable to perform all of its obligations under this Agreement, or (ii) as otherwise set forth in this Agreement, but will at all times remain applicable to the Purchase Price at the Closing.

  • After the expiration of the Bond Financing Contingency Period, Buyer will require no further consent of any person, administrative body, governmental authority or other party in connection with the performance of its obligations under this Agreement and the instruments referenced herein and the consummation of the transaction contemplated by this Agreement.

  • If Purchaser fails to do so, Purchaser’s right to terminate this Contract on account of the Financing Contingency is waived.

  • Purchaser understands that strict adherence to all timelines and other requirements of any Lender, including Purchaser’s “Notice of Intent to Proceed with Loan” is critical to satisfy this Financing Contingency.


More Definitions of Financing Contingency

Financing Contingency. As stated in the related form.
Sample 1
Financing Contingency means Tenant providing Landlord with written evidence that Tenant has secured additional financing of at least $12,000,000.00.
Sample 1
Financing Contingency shall have the meaning ascribed in Section 4.3(j) of this Agreement.
Sample 1
Financing Contingency means the receipt by the Lessee of all Commitment Letters necessary to fully finance the Project, as determined in the sole and exclusive discretion of the Lessee. The Financing Contingency may be evidenced by Commitment Letters from a tax credit equity investor, first mortgage lender, the Ohio Housing Finance Agency, or such other lenders or investors acceptable to the Lessee in its sole discretion.
Sample 1
Financing Contingency is defined in Section 5.4.
Sample 1
Financing Contingency. The Purchaser’s obligations under this sales contract are NOT conditioned upon Purchaser being able to obtain financing.
Sample 1

Related to Financing Contingency

  • Refinancing Conditions the following conditions for Refinancing Debt: (a) it is in an aggregate principal amount that does not exceed the principal amount of the Debt being extended, renewed or refinanced; (b) it has a final maturity no sooner than, a weighted average life no less than, and an interest rate no greater than, the Debt being extended, renewed or refinanced; (c) it is subordinated to the Obligations at least to the same extent as the Debt being extended, renewed or refinanced; (d) the representations, covenants and defaults applicable to it are no less favorable to Borrowers than those applicable to the Debt being extended, renewed or refinanced; (e) no additional Lien is granted to secure it; (f) no additional Person is obligated on such Debt; and (g) upon giving effect to it, no Default or Event of Default exists.

  • Debt Financing has the meaning set forth in Section 5.7.

  • Debt Financing Documents means the agreements, documents and certificates contemplated by the Debt Financing.

  • Financing Commitment means documentation provided by a third party extending monies for the purpose of supporting the proposed Project in a manner that outlines the terms and conditions of borrowings, grants and other financing instruments. Terms and conditions should be reflective of terms under which all parties are willing to close and fund. There should be no Material Changes to stated terms without documented cause between the issuance of a commitment and closing. Material Changes must be submitted to ADOH for approval in accordance with Section 5.5 of this Plan.

  • Other Financing shall have the meaning assigned to such term in Section 5.6(ii) hereof.

  • Financing Event means the earlier of (i) a public offering by the Company of its Common Stock with aggregate gross proceeds of at least $5 million; or (ii) the listing of the Company’s Common Stock on a National Securities Exchange, as such term is defined under the Exchange Act.

  • Financial Closure or Project Financing Arrangements means the agreements pursuant to which the SPG has sought financing for the Power Project including the loan agreements, security documents, notes, indentures, security agreements, letters of credit and other documents, as may be amended, modified, or replaced from time to time, but without in anyway increasing the liabilities of JDVVNL.

  • Financing Commitments has the meaning set forth in Section 5.7.

  • Project Financing means: (a) one or more loans, leases, equity and/or debt financings, together with all modifications, renewals, supplements, substitutions and replacements thereof, the proceeds of which are used to finance or refinance the costs of the Customer Facility, any alteration, expansion or improvement to the Customer Facility, the purchase and sale of the Customer Facility or the operation of the Customer Facility; (b) a power purchase agreement pursuant to which Interconnection Customer’s obligations are secured by a mortgage or other lien on the Customer Facility; or (c) loans and/or debt issues secured by the Customer Facility.

  • Special Purpose Financing means any financing or refinancing of assets consisting of or including Receivables, Vehicles of the Company or any Restricted Subsidiary that have been transferred to a Special Purpose Entity or made subject to a Lien in a Financing Disposition.

  • Co-financing means the financing referred to in Section 7.02 (h) and specified in the Loan Agreement provided or to be provided for the Project by the Co-financier. If the Loan Agreement specifies more than one such financing, “Co-financing” refers separately to each of such financings.

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

  • PIPE Financing has the meaning set forth in the recitals to this Agreement.

  • New Financing means the Indebtedness incurred or to be incurred by Holdings and its Subsidiaries under the Credit Documents (assuming the full utilization of the Revolving Commitments) and all other financings contemplated by the Credit Documents, in each case after giving effect to the Transaction and the incurrence of all financings in connection therewith.

  • Financing Coordination Fee means the fees payable to the Advisor pursuant to Section 10(e).

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

  • Financing Documents means, collectively, this Agreement, the Note, the Security Documents, the Account Control Agreement and any other agreements, documents or certificates delivered pursuant hereto or thereto.

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

  • Financing Arrangements means the arrangements between the Borrower and the State as per current policy of the Borrower, and acceptable to ADB;

  • Equity Contract means any transaction or instrument that does not convey to Dealer rights, or the ability to assert claims, that are senior to the rights and claims of common stockholders in the event of Counterparty’s bankruptcy.

  • Permitted First Priority Refinancing Debt means any secured Indebtedness incurred by the Borrower in the form of one or more series of senior secured notes or senior secured loans; provided that (i) such Indebtedness is secured by the Collateral on a pari passu basis with the Obligations and is not secured by any property or assets of Holdings and its Subsidiaries other than the Collateral, (ii) such Indebtedness constitutes Credit Agreement Refinancing Indebtedness in respect of Term Loans, (iii) such Indebtedness does not mature prior to the Maturity Date of the Refinanced Debt and such Indebtedness shall have a Weighted Average Life to Maturity that is not shorter than the Refinanced Debt, (iv) to the extent applicable, the security agreements relating to such Indebtedness are substantially the same as the Security Documents (with such differences as are reasonably satisfactory to the Administrative Agent), (v) no Restricted Subsidiary guarantees such Indebtedness unless it is a Subsidiary Guarantor (or becomes a Subsidiary Guarantor substantially concurrently with the incurrence of such Indebtedness); provided that, if, at any time, such Restricted Subsidiary ceases to be a Guarantor, it shall not guarantee such Indebtedness, (vi) the other terms and conditions of such Indebtedness (excluding pricing, fees, rate floors, premiums, optional prepayment or optional redemption provisions) reflect market terms and conditions at the time of incurrence and issuance; provided, that, to the extent such terms and documentation are not substantially identical to the Indebtedness being refinanced, (x) such terms (taken as a whole) shall be less favorable to the providers of such Permitted First Priority Refinancing Debt than those applicable to the Indebtedness being refinanced, except, in each case, for financial or other covenants or other provisions contained in such Indebtedness that are applicable only after the then Latest Maturity Date, or (y) such documentation shall be reasonably acceptable to the Administrative Agent and (vii) a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to a Pari Passu Intercreditor Agreement and the Administrative Agent shall have become a party to the Pari Passu Intercreditor Agreement (or any then-existing Pari Passu Intercreditor Agreement shall have been amended or replaced in a manner reasonably acceptable to the Administrative Agent, which results in such Senior Representative having rights to share in the Collateral as provided in clause (i) above). Permitted First Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.

  • Alternative Financing is defined in Section 6.14(d).

  • Interim Financing means any new financial assistance, provided by an existing or a new creditor, that includes, as a minimum, financial assistance during the stay of individual enforcement actions, and that is reasonable and immediately necessary for the debtor's business to continue operating, or to preserve or enhance the value of that business;

  • Financing Plan means the Republic of Venezuela 1990 Financing Plan dated June 25, 1990, distributed to the international banking community.

  • Refinancing Documents means each of the agreements, documents and instruments entered into in connection with the Refinancing.

  • Special Purpose Financing Fees means distributions or payments made directly or by means of discounts with respect to any participation interest issued or sold in connection with, and other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Special Purpose Financing.