Readjustment Date definition
Examples of Readjustment Date in a sentence
The Borrower shall, in the circumstances referred to in Clause 6.4 (Extension of facility), negotiate in good faith with the Facility Agent (acting on behalf of all the Lenders) an adjustment to the Margin which is to apply during each three-monthly period falling in the Extended Tenor (each a "Margin Readjustment Date").
All Success Payments made after the Second Readjustment Date shall be made to each Investor based on the Investor-by-Investor adjustments made to the Success Payment Schedule pursuant to Section 4.2.3.
The Success Payment Schedule shall be revised in good faith by the Parties on the First Readjustment Date to reflect such adjustments and shall be appended to this Agreement.
The “fair market rent” shall be the amount that a ready and willing tenant would pay, as of the applicable Readjustment Date as annual rent for the Demised Premises if the same were exposed for lease on the open market for a reasonable period of time, all in accordance with guidelines and requirements as established by the FAA from time to time.
On each Readjustment Date, the Margin applicable to the Term Facility and the Revolving Facility shall be determined in accordance with paragraph (a) of this clause 7.6.
The City may also establish a Readjustment Date in addition to every five years in the event that ▇▇▇▇▇▇ is awarded a grant by a Governmental Authority for improvements to the Airport upon completion of such improvements.
If an adjustment is agreed between the parties, the Facility Agent will send to the Borrower and the Finance Parties a notice in writing by no later than the date falling 10 days before the Margin Readjustment Date specifying the new Margin which will apply as from the Margin Readjustment Date and the term "Margin" shall be read and construed to mean such amount.
Lessor and Lessee shall instruct the appraiser(s) to complete their determination of fair market rent not later than five (5) months prior to the applicable Readjustment Date.
By way of example, if $35,000,00 in aggregate Fundings are made as of the First Readjustment Date, which is 50% of $70,000,000, each Success Payment on the row entitled “First Orphan Approval” in the Success Payment Schedule shall be reduced by 50%.
All Success Payments made prior to the Second Readjustment Date (as defined below) shall be made to each Investor ratably based on the amount of Funding provided by such Investor compared to the total amount of all Fundings made.