Funding Decision Clause Samples
Funding Decision. Each Owner acknowledges that it has, independently and without reliance upon the Administrative Agent, and based on such documents and information as it has deemed appropriate, made its own evaluation and decision to enter into this Agreement and to fund an interest in the Invested Amount. Each Owner also acknowledges that it will, independently and without reliance upon the Administrative Agent or any of their respective Affiliates, and based on such documents and information as it shall deem appropriate at the time, continue to make its own decisions in taking or not taking action under this Agreement or any related agreement, instrument or other document.
Funding Decision. Each Bank may fund each Eurodollar Rate Loan in any manner it sees fit; but for the purposes of this Section all determinations shall be made as if each such Bank funded such Eurodollar Rate Loan through the purchase of deposits having a maturity corresponding to its Interest Period and an interest rate equal to the relevant Eurodollar Base Rate.
Funding Decision. As mentioned above, for the Kentucky plant to proceed, additional funding was required. The timeframe available to secure this funding was limited by the critical path of the project. In the context of this timeframe, ▇▇▇ ▇▇ was unable to secure third party funding and ION Limited became the only realistic source of funds. The following work was done to assist the Administrators in deciding whether ION Limited should provide financial support which would allow the Kentucky plant to proceed: ▪ the Administrators obtained Ford’s views on the plant and established its desire to take the product, with favourable results; ▪ an independent engineering assessment of the plant was completed at the Administrators’ request, which was also favourable; ▪ the Administrators reviewed the financial forecasts for the plant in detail. These were found to be inaccurate in respect of certain key assumptions. However, revised forecasts were prepared which although less buoyant remained positive; and ▪ the Administrators obtained the views of Credit Suisse First Boston (“CSFB”) on the ability to sell the ION US operations and the impact which any such sale might have on the ability to sell other ION Automotive Group business units as a package. It was the Administrators’ judgment that, with Ford’s commitment to the plant, it was in the best interests of creditors of the ION Administration Group to fund the project to Job 1. The Administrators’ advice was that the prospects of a combined wheels business sale (including the ION NZ operations and possibly North Plympton) were greatly enhanced by the completion of the Kentucky plant. Market soundings from potential purchasers were clearly supportive of a wheels business which has the benefit of US presence, market access and growth potential. Accordingly, the investment in the Kentucky plant was seen as having a positive impact on overall sale proceeds for the benefit of creditors of the ION Administration Group as a whole. It should be noted, however, that the ION US entities are not parties to the Deed of Cross Guarantee. As such, creditors of the Pooled Entities cannot rely on the Deed of Cross Guarantee to seek payment of their debts and claims against ION US. However, the ION US entities have each provided guarantees to the Lenders to the ION Consolidated Group and therefore, those Lenders are creditors of ION US. Consequently, any surplus on sale of ION US or their operations, after repayment of the secured loans advanced by...
Funding Decision. California Public Utilities Commission ("CPUC") Decision 96-08-038 (August 2, 1996) as modified by CPUC Decision 96-10-044 (October 25, 1996), as that decision may be modified or superseded. This decision among other things provides for funding of the Work pending establishment of, and assumption of such funding by, the Independent System Operator, and enables a Trustee, a trust advisory committee and independent technical advisors to have oversight over the Work and payments for such Work.
Funding Decision. 46 Section 3.7 Rate of Return Maintenance Covenant.................................
Funding Decision. §7. The call shall be concluded within 6 months of the proposal submission date.
§8. The results of the call shall be announced by way of a decision of the NCN Director.