Approval of Refinancing of Primary Loan Sample Clauses

Approval of Refinancing of Primary Loan. Authority Executive Director shall have the right to review all documents related to and to approve (which approval shall not be unreasonably withheld) or disapprove any refinancing of the Primary Loan and any other debt secured by Developer’s ground leasehold interest in the Site, which refinancing will:
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Approval of Refinancing of Primary Loan. For each Project, Authority Executive Director shall have the right to review all documents related to and to approve or disapprove any refinancing of the Primary Loan or any other debt secured by Xxxxxxxxx’s leasehold interest in the Manchester Site or the Orangewood Site, as applicable, which refinancing will increase the interest rate or increase the outstanding principal amount of such debt or cause or require the release or withdrawal of cash or equity from any part of either Project. For each Project, Authority Executive Director shall reasonably consider any such proposed refinancing based on an economic evaluation conducted by Authority’s economic consultant that analyzes the effect of the proposed refinancing on (i) the availability of Residual Receipts to repay the Authority Subordinate Loan, (ii) the availability of Cost Savings pursuant to Section 311, and (iii) the ability of Developer to repay in full the Primary Loan and any other debt or other liens against the Site as such payment becomes due. In the event Developer refinances either or both Primary Loan(s) (or other debt), subject to and with Authority approval, and Developer withdraws equity from either or both Project(s), any Refinancing Net Proceeds shall be split between Authority and Developer in the same manner as Residual Receipts (eighty-five percent (85%) to Authority and fifteen percent (15%) to Developer).
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Approval of Refinancing of Primary Loan. Authority Executive Director shall have the right to review all documents related to and to approve or disapprove any refinancing of the Primary Loan or any other debt secured by the Site or the Project, which refinancing will increase the interest rate or increase outstanding principal amount of such debt or cause release or withdrawal of cash or equity from the Project. Authority Executive Director shall reasonably consider any such proposed refinancing based on an economic analysis conducted by Authority’s economic consultant which evaluates the effect of the proposed refinancing on (i) the availability of Residual Receipts for full repayment of the Promissory Note and (ii) the ability of Developer to repay in full the Primary Loan and any other debt or other liens against the Site on or before the expiration of the Option Term. In the event Developer refinances the Primary Loan (or other debt), subject to and with Authority approval, and Developer withdraws equity from the Site or the Project, the net proceeds of any refinancing shall be split between Authority and Developer in the same manner as Residual Receipts (fifty percent (50%) to Authority and fifty percent (50%) to Developer).
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Related to Approval of Refinancing of Primary Loan

  • Refinancing Substantially simultaneously with the funding of the Initial Term Loans, the Closing Date Refinancing shall be consummated.

  • Repayment of Loans; Evidence of Debt (a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Loan on the Maturity Date.

  • Repayment of the Loan The Borrower agrees to repay the EMIs/Monthly Instalments and the other Outstanding Dues to BHFL on or before the respective Due Dates by any of the repayment modes as set out in the Loan Agreement or the Top-Up Loan Addendum, or in such manner and at such place, as may be agreed between the Borrower and BHFL. • BHFL may, at the request of the Borrower in writing, agree to change the repayment mode. BHFL may, at any time, in its discretion revise the repayment schedule in its sole and absolute discretion and notify the Borrower in advance accordingly. • The EMI/Monthly Instalment amount shall be arrived at so as to comprise the repayment of the Loan Amount and payment of Interest calculated on the basis of the Interest Rate within the Loan Tenure. The Borrower agrees to continue paying EMIs/Monthly Instalments until all Outstanding Dues under the Loan have been repaid in full to BHFL.

  • Bank Financing The Buyer’s ability to purchase the Property is contingent upon the Buyer’s ability to obtain financing under the following conditions: (check one) ☐ - Conventional Loan ☐ - FHA Loan (Attach Required Addendums) ☐ - VA Loan (Attach Required Addendums) ☐ - Other:

  • Modification of Commitments 1. For a period of 12 months from the date of entry into force of this Agreement, a Member State may adopt any measures or modify any of its reservations made in the Schedule under Article 9 (Reservations) for prospective applications to investors of any other Member States and their investments, provided that such measures or modification shall not adversely affect any existing investors and investments.

  • Refinancing Preparation Advance If the Financing Agreement provides for the repayment out of the proceeds of the Financing of an advance made by the Association or the Bank (“Preparation Advance”), the Association shall, on behalf of the Recipient, withdraw from the Financing Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Financing Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Association shall pay the amount so withdrawn to itself or the Bank, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • Financing Plan The Company shall have a Financing Plan prepared which shall include such provisions as the Company may determine consistent with its commercial requirements and Good Industry Practice. The Company shall be responsible for raising all of the financing necessary to implement the Financing Plan for the Project.

  • Term Loan The Borrower may, upon notice from the Borrower to the Administrative Agent, at any time or from time to time voluntarily prepay the Term Loan in whole or in part together with the applicable Prepayment Premium; provided that (A) such notice must be received by the Administrative Agent not later than 11:00 a.m. (1) three Business Days prior to any date of prepayment of LIBOR Rate Loans and (2) on the date of prepayment of Base Rate Loans; (B) any such prepayment of LIBOR Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); (C) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if less, the entire principal amount thereof then outstanding); and (D) any prepayment of the Term Loan shall be applied in the inverse order of maturity with respect to the remaining amortization payments. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment of a LIBOR Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. On the date of any voluntary prepayment of any Term Loan pursuant to this Section 2.05(a)(ii), the Borrower shall pay to the Administrative Agent, for the benefit of the Lenders, whether before or after an Event of Default, the applicable Prepayment Premium. Subject to Section 2.15, each such prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable Percentages.

  • Refinancing Preparation Advance; Capitalizing Front-end Fee and Interest (a) If the Loan Agreement provides for the repayment out of the proceeds of the Loan of an advance made by the Bank or the Association (“Preparation Advance”), the Bank shall, on behalf of such Loan Party, withdraw from the Loan Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Loan Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Bank shall pay the amount so withdrawn to itself or the Association, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • Withdrawal of Loan Proceeds 1. Except as ADB may otherwise agree, the following provisions of this Schedule shall apply to the withdrawal of Loan proceeds from the Loan Account.

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