NPI Borrowing definition

NPI Borrowing means any Borrowing by the Borrowers of a Loan in the aggregate principal amount not to exceed $500,000 to the extent such Borrowing is to be used by MSR for the NPI Acquisition.
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Examples of NPI Borrowing in a sentence

  • Each Borrowing (other than the NPI Borrowing) shall be in a principal amount of U.S.$1,000,000 or a whole multiple of U.S.$250,000 in excess thereof; provided that such limits shall not apply to the final Borrowing, which may be in aggregate amount equal to the unused Commitment at such time.

  • The proceeds of the NPI Borrowing shall be used for the NPI Acquisition and the proceeds of all other Loans will be used solely to pay Approved Project Costs.

  • Concurrently with the delivery of the initial Loan Notice (excluding any Loan Notice delivered in respect of the NPI Borrowing) and in each calendar month occurring thereafter, at least seven (7) Business Days prior to the Funds Transfer Date for such calendar month, the Borrowers shall deliver to the Lender, the Independent Engineer and the Offshore Account Holder an Estimated Payment Certificate in respect of the next-occurring or anticipated Funds Transfer Date.

  • The proceeds of the NPI Borrowing shall be deposited into the Onshore Operating Account and may be used by MSR at any time thereafter for the NPI Acquisition.

  • The proceeds of the NPI Borrowing shall be used for the NPI Acquisition and the proceeds of each other Borrowing shall be used to pay Approved Project Costs due and payable within forty-five (45) days of the date of such Borrowing.

  • Use the proceeds of the NPI Borrowing (if any) for the NPI Acquisition and the proceeds of all other Loans solely to pay Approved Project Costs.

Related to NPI Borrowing

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Revolving Borrowing means a Borrowing comprised of Revolving Loans.

  • Canadian Borrowing means a borrowing consisting of simultaneous Canadian Loans of the same Type and, in the case of BA Equivalent Loans or LIBO Loans, having the same Interest Period made by each of the Canadian Lenders pursuant to Section 2.3.