Take-Out Financing definition

Take-Out Financing has the meaning specified in Section 6.16(a).

Take-Out Financing means a long-term loan on property

Take-Out Financing means financing procured by Borrower from a third-party financing source in an amount sufficient to cause all of the Obligations to be Paid in Full at or before the end of the Extension Period.

Examples of Take-Out Financing in a sentence

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• Xxxxxx agrees to enter into with the applicable grantor(s)/lender(s) of such Take-Out Financing Arrangements and Borrower an intercreditor agreement in connection with the closing of each Take-Out Financing Arrangement which shall be in form and substance satisfactory to Lender in all respects and, inter alia, shall not require the release of the Mortgage prior to payment in full in cash of all Obligations (each an “Intercreditor Agreement”).

• The City is (and covenants to remain) in compliance with the requirements and conditions set forth in the Letter of Conditions, and will perform as necessary to ensure that the requisite Take-Out Financing is consummated by the City and USDA as intended herein and in the Letter of Conditions.

• Once operating, the organization is wholly responsible for the collection of rent, resident relations, building maintenance, community relations, and capital planning.Funding Available: Capital Grant: up to $100,000 per housing unit (secured by a 35-year forgivable loan) Interim Construction /Take-Out Financing: up to 100% of construction cost Operating Subsidy: Limited is available.

• Immediately upon receipt by any Borrower SPV of the proceeds of any Permitted Take-Out Financing, such proceeds shall be applied to pay 100 per cent.

More Definitions of Take-Out Financing

Take-Out Financing means any borrowings under any Parent credit facilities or any offering of debt or equity securities by Parent or any of its Affiliates, all or a portion of which will be used to fund the Merger Consideration or any other amounts payable pursuant to this Agreement in lieu of all or a portion of the Debt Financing, and which (x) is subject to conditions no more restrictive than the conditions to the receipt of the Debt Financing set forth in the Commitment Letter (without giving effect to any Restricted Amendment) (or for which proceeds have been received and constitute Escrowed Take-Out Financing Proceeds), (y) would not have terms which would reasonably be expected to delay or prevent the Closing Date and (z) would not reduce the aggregate amount of the Debt Financing, such Take-Out Financing and Parent’s and Merger Sub’s cash and cash equivalents on hand (including any Escrowed Take-Out Financing Proceeds) below the Required Amount.

Take-Out Financing means any debt financing (of whatsoever type or nature), other than the Facilities, made available for refinancing all or part of the Facilities.

Take-Out Financing means a debt financing for the Project in an amount at least equal to the then-outstanding principal amount of the Construction Loans made in respect of the Project, together with all accrued and unpaid interest and other Obligations thereon.

Take-Out Financing means unsecured senior subordinated or subordinated debt notes or securities of the Company or any of its Subsidiaries issued pursuant to an Indenture described in clause (b) of the definition thereof the proceeds of which shall be used as provided in subsection 2.4B(iii)(b).

Take-Out Financing means financing arranged by the Arranger for Borrower to refinance the Term Loans, in an amount sufficient to repay the Term Loans in full on or before the Maturity Date, such financing to be on terms and conditions then prevailing in the credit market place for borrowers comparable to Borrower.

Take-Out Financing means any subsequent refinancing of the Loans that may be provided by the Lenders on or before July 31, 2000, which refinancing each Lender shall provide subject to its sole and absolute discretion after obtaining internal credit approval.

Take-Out Financing means any borrowings under any Parent credit facilities or any offering of debt or equity securities by Parent or any of its Affiliates, all or a portion of which will be used to fund the Merger Consideration or any other amounts payable pursuant to this Agreement in lieu of all or a portion of the Debt Financing, and which (x) is subject to conditions no more restrictive than the conditions to the receipt of the Debt Financing set forth in the Commitment Letter (without giving effect to any Restricted Amendment) (or for which proceeds have been received and constitute Escrowed Take-Out Financing Proceeds), (y) would not have terms which would reasonably be expected to delay or prevent the Closing Date and (z) would not reduce the aggregate amount of the Debt Financing, such Take-Out Financing and Parent’s and Merger Sub’s cash and cash