Monaca Power Plant definition
Monaca Power Plant means the Company’s coal-fired steam electric generating plant and related Real Estate and fixtures located in Monaca, Pennsylvania. Mortgages shall mean, collectively, (a) those mortgages and deeds of trust, in form and substance reasonably satisfactory to the Agent, each dated as of even date herewith, each executed by one or more of the Credit Parties, as mortgagors, in favor of CIT, as agent for the Lenders and Contrarian, as mortgagee, to secure the payment and performance of the Obligations and the Contrarian Obligations and encumbering the Real Estate owned by the Credit Parties and located in (i) P▇▇▇▇▇▇▇▇, Pennsylvania, (ii) Monaca, Pennsylvania, (iii) Rockwood, Tennessee, (iv) Calumet, Illinois, and (v) Bartlesville, Oklahoma (other than the portion of such properties constituting Excluded Real Estate), and (b) each mortgage and deed of trust, in form and substance satisfactory to Agent, under which a lien on Real Estate owned by any Credit Party is hereafter granted to the Agent, in each case as such Mortgage may be renewed, amended, restated or supplemented from time to time. Net Availability shall mean, at any time, the amount which the Company is entitled to borrow from time to time as Revolving Loans, such amount being the difference derived when the sum of the principal amount of all outstanding Revolving Loans, plus the undrawn amount of all outstanding Letters of Credit is subtracted from the lesser of (a) Forty-Five Million Dollars ($45,000,000) and (b) the Borrowing Base.
Monaca Power Plant means the Company’s coal-fired steam electric generating plant and related Real Estate and fixtures located in Monaca, Pennsylvania. Mortgages shall mean, collectively, (a) those mortgages and deeds of trust, in form and substance reasonably satisfactory to the Lender, each dated as of even date herewith, each executed by one or more of the Credit Parties, as mortgagors, in favor of CIT, as agent for lenders under the CIT Financing Agreement and Lender, as mortgagee, to secure the payment and performance of the Obligations and the CIT Obligations and encumbering the Real Estate owned by the Credit Parties and located in (i) Palmerton, Pennsylvania, (ii) Monaca, Pennsylvania, (iii) Rockwood, Tennessee, (iv) Calumet, Illinois, and (v) Bartlesville, Oklahoma (other than the portion of such properties constituting Excluded Real Estate), and (b) each mortgage and deed of trust, in form and substance satisfactory to Lender, under which a lien on Real Estate owned by any Credit Party is hereafter granted to the Lender, in each case as such Mortgage may be renewed, amended, restated or supplemented from time to time.
Examples of Monaca Power Plant in a sentence
In addition, the Lender shall have received an appraisal on the Monaca Power Plant, which appraisal shall be by an appraiser acceptable to the Lender and shall indicate a fair market value as a going concern of not less than Twenty Million Dollars ($20,000,000).
In addition, the Agent shall have received an appraisal on the Monaca Power Plant, which appraisal shall be by an appraiser acceptable to the Agent and shall indicate a fair market value as a going concern of not less than Twenty Million Dollars ($20,000,000).