Satisfactory Financing definition

Satisfactory Financing means one or more non-recourse first mortgage loans encumbering the properties in the Combined Portfolios, whether short term or long term (a) resulting in net proceeds (after all reasonable fees, expenses, hedging costs, reserves, escrows and holdbacks) to Transferee and/or the purchaser under the Purchase and Sale Agreement of at least $225,000,000.00 less the outstanding principal balance as of the Closing Date of any Existing Mortgage which encumbers a Property which is conveyed to Transferee on the Closing Date and (b) otherwise on commercially reasonable terms and conditions, taking into account all of the terms and conditions of the transactions contemplated by this Agreement (including, without limitation, the requirements of clause (a) above and the fact that Transferee will be investing equity in the Properties in an amount at least equal to the value of the Partnership Interests) and the Purchase and Sale Agreement.
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Examples of Satisfactory Financing in a sentence

  • Notwithstanding the foregoing or any other provision of this Agreement to the contrary, the failure by Transferee to perform Transferee's obligations under Section 5.9 shall not be deemed to be a breach or default by Transferee under this Agreement except if, assuming the use by Transferee of commercially reasonable efforts, a financing which satisfies the requirements of the definition of Satisfactory Financing would have been available to be funded on the Closing Date.

  • Concurrent with the Closing, Transferee shall have closed and funded a financing satisfactory to Transferee (provided, that if, assuming the use of commercially reasonable efforts by Transferor, a financing which satisfies the requirements of the definition of Satisfactory Financing would have been available to be funded on the Closing Date, then this condition shall be deemed to have been satisfied).

Related to Satisfactory Financing

  • Alternative Financing has the meaning specified in Section 7.6(b).

  • Co-financing means the financing referred to in Section 7.02 (h) and specified in the Loan Agreement provided or to be provided for the Project by the Co-financier. If the Loan Agreement specifies more than one such financing, “Co-financing” refers separately to each of such financings.

  • Additional Financing has the meaning set forth in Section 16.3(a).

  • New Financing means the Indebtedness incurred or to be incurred by Holdings and its Subsidiaries under the Credit Documents (assuming the full utilization of the Revolving Commitments) and all other financings contemplated by the Credit Documents, in each case after giving effect to the Transaction and the incurrence of all financings in connection therewith.

  • Cooperative Lien Search A search for (a) federal tax liens, mechanics’ liens, lis pendens, judgments of record or otherwise against (i) the Cooperative Corporation and (ii) the seller of the Cooperative Unit, (b) filings of Financing Statements and (c) the deed of the Cooperative Project into the Cooperative Corporation.