Overfunding definition

Overfunding means, at any time, up to $244,000,000 of the funds raised by the Group from the Term Facilities, the Subordinated Preference Certificates, the subscription for shares in the Company and from cash of the Acquired Group as at the Completion Date which is not used (or to be used) to fund the consideration payable to shareholders of the Target pursuant to the Scheme of Arrangement, the refinancing of the Existing Debt or the Acquisition Costs and which is shown as an overfunding in the Funds Flow Memorandum less any increase (or plus any decrease) in Working Capital from the Completion Date until the end of the most recent Accounting Quarter provided that, if there is a decrease in Working Capital, an amount equal to that decrease is paid in cash into the Overfunding Account by the last day of that Accounting Quarter.
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Overfunding means that the starting funds withheld balance exceeds the present value of the mean of the ultimate outstanding loss, discounted at the
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Examples of Overfunding in a sentence

  • In the event the Company incurs, assumes, guarantees or collateralizes any Financing on a joint and several basis with other Persons, and in connection therewith the Company pays (or collateral pledged by the Company is realized upon to pay) more than the Company’s pro rata share of such Financing (an “Overfunding”), the Company shall have a right (which may be subordinated to such Financing) to be reimbursed by the Persons benefitting from such Overfunding.

  • Overfunding As set forth in Section 4.2.1. Person Any individual, general partnership, limited partnership, limited liability partnership, limited liability company, corporation, joint venture, trust, statutory or business trust, cooperative or association or any governmental body or agency, and the heirs, executors, administrators, legal representative, successors and assigns of such Person where the context so permits.

  • The Overfunding Loans will be convertible into ordinary shares of the post-Business Combination entity at a price of $10.00 per share or repaid in cash upon the closing of the initial Business Combination, at the option of the Sponsor.

  • In the event that the amount of the Overfunding is greater than the aggregate amount of the next four Monthly Citadel Payments which are due, PGLP shall be entitled to a reimbursement of the portion of the Overfunding which is greater than the aggregate amount of such four Monthly Citadel Deposits.

  • Each of the Working Capital Warrants and Overfunding Warrants shall be identical to the Private Placement Warrants.

  • Notwithstanding the foregoing, if the amount of the Monthly Citadel Deposit is reduced below $1,000,000 due to the execution of Approved Subleases and therefore the Prefunded Amount is greater than the amounts which would actually be required for the months of June 2003, July 2003, August 2003 or September 2003 (such excess, the "Overfunding"), PGLP shall be entitled to a credit in the full amount of the Overfunding which shall be applied to the next Monthly Citadel Payment which is due.

  • The Company agrees that the redemption rights provided in Section 6.1 hereof shall not apply to the Private Placement Warrants, Working Capital Warrants, Overfunding Warrants or Post-IPO Warrants (if such Post-IPO Warrants provide that they are non-redeemable by the Company).

  • The Overfunding Loan Warrants and the Working Capital Warrants will be identical to the Private Placement Warrants, including as to exercise price, exercisability and exercise period.

  • In addition, if the Overfunding Unit had funded such amount not through an Advance but through a capital contribution or out of other funds, then a reallocation shall be made to reflect such amount in the applicable Budgets.

  • In addition, the Ordinary Shares issued upon exercise of the Private Placement Warrants, Working Capital Warrants and Overfunding Warrants, may not be transferred, assigned or sold until thirty (30) days after the completion by the Company of an initial Business Combination, except to Permitted Transferees who enter into a written agreement with the Company agreeing to be bound by the transfer restriction in this Agreement.

Related to Overfunding

  • Underfunding the excess of the present value of all accrued benefits under a Plan (based on those assumptions used to fund such Plan), determined as of the most recent annual valuation date, over the value of the assets of such Plan allocable to such accrued benefits.

  • Funding means the amounts of money provided by the LHIN to the HSP in each Funding Year of this Agreement;

  • Project Funding means the funding for the Services;

  • Interfund loan means a loan of cash from one fund to another, subject to future

  • Principal Funding Investment Proceeds means, with respect to each Transfer Date, the investment earnings on funds in the Principal Funding Account (net of investment expenses and losses) for the period from and including the immediately preceding Transfer Date to but excluding such Transfer Date.