Red Mountain definition
Examples of Red Mountain in a sentence
Borrowers shall have provided evidence reasonably satisfactory to Lender that additional equity has been contributed to Red Mountain in an amount of not less than $5,000,000.00, in form and upon terms reasonably acceptable to Lender.
Red Mountain hereby waives any and all defaults by Cross Border, in respect of the Green Shoe / Little Bay Debt, whether occurring before or after the date hereof.
Within 60 days after the end of each fiscal year of Red Mountain, a budget detailing the projected Capital Expenditures of Borrowers and each of their respective Relevant Subsidiaries for the fiscal year in which such report is provided.
Each representation and warranty made by such Red Mountain Party or its Subsidiaries contained in any Loan Document is true and correct in all respects.
Such Red Mountain Party has the requisite corporate power and authority necessary to own or lease its properties and to carry on its businesses as currently conducted.
Amount funded to date is $14,781,272.00) Assignees: Red Mountain $0.00 Emerald Suites $0.00 Presidio Kauai $0.00 Advances After Agreement ------------------------ Assignors: Red Mountain $1,500,000.00 Emerald Suites $2,800,000.00 Presidio Kauai $16,000,000.00 (Incrementally funded loan.
Actual amount after the agreement will be 52.65% Assignor / 47.35% Assignee based on a principal balance of $14,781,272,00) Advances Before Agreement ------------------------- Assignors: Red Mountain $3,500,000.00 Emerald Suites $6,800,000.00 Presidio Kauai $23,000,000.00 (Incrementally funded loan.
Borrowers shall not permit the ratio of, as of the last day of each fiscal quarter of Red Mountain beginning with the fiscal quarter ending February 28, 2013, Borrowers’ and their consolidated Subsidiaries’ (a) consolidated current assets to (b) consolidated current liabilities, to be less than 1.00 to 1.00.
There is no pending or, to such Red Mountain Party’s knowledge, threatened action, suit, arbitration, mediation, investigation or similar proceeding for the dissolution, liquidation, insolvency or rehabilitation of such Red Mountain Party.
Red Mountain will use a portion of the proceeds of its Advance and cash on hand on the Closing Date to repay in full its existing secured indebtedness in the principal amount of $8,000,000.