Market-Based Financing definition

Market-Based Financing means the entrance by the Company or a Subsidiary of the Company into a first lien, senior secured credit facility with one or more commercial banks and pursuant to terms and conditions that would reasonably be considered to be a “market-based” financing; provided that the proceeds of such financing shall be designed, consistent with market- based terms for such financing, to satisfy the obligations of the Company or such applicable Subsidiary of the Company to fund its capital commitment obligations to Double E; and provided further that the terms of such financing shall not expressly prohibit the payment of distributions to which the Series A Preferred Members are entitled under this Agreement or otherwise contain any non-market-based terms that would have the effect of materially and adversely affecting the rights of the Series A Preferred Units.
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Examples of Market-Based Financing in a sentence

  • After FERC Approval and notwithstanding anything to the contrary in this Agreement, so long as any Series A Preferred Units remain outstanding, the Company and its Subsidiaries shall not incur, create, assume or guarantee any Funded Indebtedness, except with Preferred Approval, unless, (a) following such incurrence, creation, assumption or guarantee, the Total Invested Capital Ratio is less than ___% and (b) such Funded Indebtedness is a Market-Based Financing.

  • The Company and its Subsidiaries shall not agree to any terms in a Market-Based Financing that expressly limit the rights, preferences, privileges or powers of the Series A Preferred Units or of any of the Holders thereof under this Agreement relative to a Market-Based Financing.

Related to Market-Based Financing

  • Qualified Financing is a transaction or series of transactions pursuant to which the Company issues and sells shares of its capital stock for aggregate gross proceeds of at least $5,000,000 (excluding all proceeds from the incurrence of indebtedness that is converted into such capital stock, or otherwise cancelled in consideration for the issuance of such capital stock) with the principal purpose of raising capital.

  • Permitted Financing means (i) the Company’s issuance of Common Stock and warrants therefore in connection with a merger and/or acquisition or consolidation, (ii) the issuance of shares of Common Stock or warrants therefore in connection with strategic license agreements so long as such issuances are not for the purpose of raising capital, (iii) the Company’s issuance of Common Stock or the issuance or grants of options to purchase Common Stock pursuant to the Company’s stock option plans and employee stock purchase plans as they now exist, and (iv) the issuance of Common Stock upon the exercise or conversion of any securities outstanding on the date hereof.

  • Qualified Equity Financing means the first sale (or series of related sales) by the Company of its Preferred Stock following the Date of Issuance from which the Company receives gross proceeds of not less than $1,000,000 (excluding the aggregate amount of securities converted into Preferred Stock in connection with such sale or series of related sales).

  • Existing Financing means the financing arrangements that provided for a security interest granted by Company in the Aircraft and that were outstanding on August 3, 2020.

  • 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.