Initial Financing definition

Initial Financing means amounts borrowed by the Company or its subsidiary on the date hereof and/or to be borrowed to finance the acquisition and, if applicable, rehabilitation of the Project by the Company’s subsidiary that owns the Project.

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Initial Financing has the meaning set forth in SECTION 3.1.

Initial Financing means that Financing, to be obtained by the Company to finance the acquisition and ownership of the Buildings (including the acquisition of Building III and the payoff of the Existing Financing, except for the prepayment penalty associated therewith to be paid by DCP), on the following basic terms: (i) principal amount not to be more than $17,900,000.00 nor less than $17,775,000.00; (ii) final maturity date of not less than ten (10) years following Closing and funding thereof; (iii) amortization term of not less than twenty-five (25) years; and (iv) interest rate no greater than eight and one-half percent (8-1/2%).

Examples of Initial Financing in a sentence

Notwithstanding anything to the contrary contained in this Section 9 or the other provisions of this Agreement, the Members agree not to do anything, or cause, permit or suffer anything to be done which is prohibited by, or contrary to, the terms of the loan documents for the Initial Financing or any other loan documents entered into by the Company or its subsidiaries in connection with the financing of the Project.
Payment of the Outstanding Indebtedness shall, where required by the Distribution Licensee, be in exchange for a transfer or assignment to the Distribution Licensee (or its nominees) of all rights, title and interest in the Initial Financing Documents (other than those in respect of the Sponsors Gross Equity Contribution), documented and evidenced to the satisfaction of the Distribution Licensee.
In the case of any refinancing of the vessel, Owners shall negotiate in good faith and use their best efforts to have the refinancing mortgagee agree on, in the sole good faith opinion of the Owners, commercially reasonable terms that are no less favorable to the Charterer than the terms contained in the Initial Financing in terms of the mortgagee’s rights to enforce its mortgage in the event and so long as the Charterer continues to pay the charter hire under this charter.
In addition, for the avoidance of doubt, the Parties confirm that Tenant shall not be relieved of the requirement to comply with the final three (3) sentences of Section 17.1(b)(iii) with respect to Tenant’s Initial Financing or any other financing with a Permitted Leasehold Mortgagee.
The Department acknowledges and agrees that the documents referred to in Schedule B attached hereto are deemed to constitute Initial Financing Documents for purposes of the Agreement.

More Definitions of Initial Financing

Initial Financing means the first, and only the first, financing entered into by one or more of the Company’s subsidiaries and secured by a pledge of such subsidiaries’ assets.

Initial Financing means Licensee’s initial receipt of at least two million dollars ($2,000,000) of cumulative total of cash or cancellation of indebtedness in exchange for the issuance of Equity Securities.

Initial Financing shall have the meaning given to it in Section 3.2.

Initial Financing means the Company's initial debt financing contemplated in Section 3.10.

Initial Financing means the financial indebtedness incurred by Seller or its Affiliates pursuant to the Finance Documents entered into at Financial Closing.

Initial Financing means the completion by the Company of a financing through the sale of its Securities for an aggregate sale price of not less than CAD 500,000 in gross proceeds for the Company;

Initial Financing means the aggregate amount of (i) the Term Loans funded, (ii) the First Lien Loans funded and (iii) the Convertible Third Lien Notes issued, in each case, on the Funding Date.