Required Equity Investment Sample Clauses

Required Equity Investment. The minimum amount of equity investment in the Borrower which shall be maintained by the Originator, in the form of cash, Permitted Investments and/or Eligible Loans having an outstanding principal balance on the date of the initial Advance and at all times thereafter prior to the Termination Date of an amount equal to the greater of (i) $150,000,000 or (ii) the aggregate Advances Outstanding.

Required Equity Investment. Prior to the date of the first Advance and continuing until the Conversion Date, Borrower’s Equity Investment (as hereinafter defined) must be equal to at least the product of the Required Equity Percentage multiplied by the then-current Estimated Project Costs for the Project. As used herein, Borrower’s “Equity Investment” at any one time means the sum of the Project Costs previously paid by Borrower (including any amount being paid concurrently with submission of an application for an Advance but excluding any amounts in the Contingency Reserve Account); provided, however that the funds used by Borrower to pay such Project Costs shall not have been obtained by Borrower pursuant to any loans or other arrangements evidencing Indebtedness of Borrower. Borrower shall promptly notify Lender if Borrower believes changes should be made to the Estimated Project Costs for any reason, including changes in current or future anticipated expenditures. Any such notification shall set forth in reasonable detail the amount and calculations of any such changes. Without limiting the foregoing, it is expressly agreed that Lender may require an analysis by Lender’s Engineer of the Estimated Project Costs at any time, but not more often than monthly. If Lender’s Engineer certifies, following consultation with Borrower, that a change to the Estimated Project Costs is necessary to accurately reflect anticipated or required modifications to the Project Costs, Lender may require such changes. In the event of such modification of Estimated Project Costs: (i) the amount of the “Estimated Project Costs” shall thereafter be deemed to be the modified number; (ii) if the Estimated Project Costs have increased: (A) the Maximum Debt Percentage shall be deemed to be decreased to an amount equal to the Maximum Loan Amount divided by such revised Estimated Project Costs, and (B) the Required Equity Percentage shall be deemed to be increased to an amount equal to One Hundred Percent (100%) minus the revised Maximum Debt Percentage; and (iii) if the Estimated Project Costs have decreased, there shall be no change in the Required Equity Percentage or Maximum Debt Percentage. Without limiting the foregoing, and notwithstanding anything to the contrary herein: (1) in the event the remaining total costs of completing the Project at any time exceeds the remaining amount Lender would be required to advance pursuant to Section 2.02(b) hereof as a result of an increase in Estimated Project Costs (su...

Required Equity Investment. (a) Nextel International shall cause amounts (whether such amounts are contributed by Nextel International or any other Person (other than the Company or a Foreign Affiliate) acquiring an equity interest (an "EQUITY INVESTOR") in the Company or any Foreign Affiliate) which are to be applied by Nextel International or any other entity other than the Company or a Foreign Affiliate as equity investments in the Company or any Majority-Owned Foreign Affiliate as set forth in the then-current Approved Business Plan (the "REQUIRED EQUITY INVESTMENTS") to be deposited on or prior to the due date therefor in the AirLink Receipt Account or the U.S. Receipt Account. (b) On the Initial Funding Date, Nextel International shall have established reserves on its books to be used solely for investing in the System ("SYSTEM RESERVES"). The System Reserves on the Closing Date shall equal $70,291,124.70. The System Reserves may be contributed by Nextel International, the Company or an Equity Investor. Thereafter, Nextel International shall maintain at all times System Reserves of no less than the greater of (i) $70,291,124.70 MINUS all Required Equity Investments made since the Closing Date in accordance with the then-current Approved Business Plan, and (ii) an amount equal to the Required Equity Investment amount due on or prior to the next succeeding fiscal quarter in accordance with the then-current Approved Business Plan.