Required Funding. The Company shall not be required to fund in advance the amounts and benefits payable under this Agreement until a Triggering Event occurs. Upon the occurrence of a Triggering Event, the Company shall immediately contribute an amount to an irrevocable grantor trust, of which Executive is the beneficiary and a third-party is the trustee (a "Trust"), equal to 120% of the amounts that could become payable to Executive under this Agreement.
Required Funding. Payments as of Current Payment Date:
a) Projected Principal Balances and Payments
b) Required Interest Payments
i. Tranche A-1 Bond ii. Tranche A-2 Bond iii. Tranche A-3 Bond
Required Funding. Payments as of Current Payment Date:
a) Projected Principal Balances and Payments Projected Principal Balance Principal Due --------------------------------- -------------------
i. Tranche A-1 ii. Tranche A-2 iii. Tranche A-3 iv. Tranche A-4 v. Total:
Required Funding. Payments as of Current Payment Date: $_________ Principal Principal Due
i. Tranche A-1 $_________
ii. For all Tranches of Securitized Utility Tariff Bonds: $_________
Required Funding. Payments as of Current Payment Date: $9,539,907.24
Required Funding. As soon as practicable fol- lowing each Adjustment Date, but in no event later than fifteen business days thereafter, (i) the Consulting Firm shall xx- xxxxxxx and notify the Company and the Trustee of the Required Funding Amount as of that Adjustment Date, and (ii) the Trustee shall determine and notify the Company and the Consulting Firm of the amounts in the Benefit Contribution Account and the Fee Contribution Account as of that Adjustment Date. If, as of the Adjustment Date, the amount in the Fee Contribution Account is less than One Hundred Thousand Dollars ($100,000), then within ten business days after receiving notice thereof, the Company shall make additional Fee Contributions so as to cause the amount in the Fee Contribution Account to equal or exceed One Hundred Thousand Dollars ($100,000). If, as of any Adjustment Date on which a Potential Change of Control occurs, the amount then held in the Benefit Contribution Account is not equal to at least eighty percent (80%) of the Required Funding Amount ("Minimum Required Funding"), then within thirty days after receiving such notice the Company shall make additional Benefit Contributions and/or the Trustee shall draw down such amount under any Letter of Credit, or a combination thereof, so as to provide funding of the Benefit Contribution Account that will equal or exceed the Minimum Required Funding. Within thirty days after receiving such notice with respect to any other Ad- justment Date, the Trustee may draw from any Letter of Credit such additional amount (if any) as may be necessary to provide the Benefit Contribution Account with the Minimum Required Funding as of that Adjustment Date (or such higher level of funding up to 100% of the Required Funding Amount as of the Adjustment Date as the Trustee in its discretion shall then deem appropriate).
Required Funding. At the Closing, (i) Buyer shall pay, or provide the Company sufficient funds to pay, the amounts required to satisfy the conditions set forth in Section 7.11 hereof and (ii) Buyer shall deliver the number of shares of Buyer Common Stock required to satisfy the condition set forth in Section 7.9 hereof.
Required Funding. Housing providers’ fund needs to cover operational costs are changing. When the mortgage ends, there is no longer a need for a subsidy to cover the mortgage expenses from the Service Manager. While the end of a mortgage represents a significant reduction in operating expenses for housing providers, they still have other operational needs and significant capital repair needs that must be addressed through a new funding approach. Shifting away from a prescribed funding formula means the unique circumstances of each housing provider can be considered through the negotiated financial plans. To support fiscal responsibility and sustainability, funding for housing providers must ensure revenues cover expenses, including projected capital expenditures. Funding will also allow for reasonable accumulated surpluses, which will be informed by the size and type of the building, to ensure housing providers can address unanticipated in-year pressures not addressed in their financial plan. Housing providers that exceed their accumulated surplus amount will be directed to contribute the remaining amount to capital reserves. If capital reserves are sufficiently funded, Regional subsidies may be reduced or reallocated. Housing providers will also be encouraged to evaluate rents for market units to inform their financial plans, which may include increasing rents and/or occupancy charges in line with the Rent Increase Guideline set annually by the Province of Ontario. Specific funding details will be set out in financial plans within the Service Agreement, negotiated individually with each housing provider based on their unique needs and circumstances. This could include ensuring appropriate reserves are available for purposes such as insurance. Under the current provincial funding formula, rents/housing charges for subsidized units are set at a provincial benchmark amount and indexed annually. The tenant/co-operative member pays rent based on 30% of their net income (or a set rent scale, if receiving social assistance), and the Region pays the difference between that amount and the unit’s benchmark rent/housing charge for the unit. Currently, these benchmark rents/housing charges generally fall below 80% of Average Market Rents as determined by Canada Mortgage and Housing Corporation (CMHC).Under the new framework, the benchmark rates no longer apply, as the Region and the housing provider will negotiate the unit rent through the financial plan. Service Managers must continu...
Required Funding. Payments as of Current Payment Date:
i. Projected Tranche [ ] Environmental Control Bond Balance $[________]
ii. Projected Tranche [ ] Environmental Control Bond Balance $[________]
iii. Projected Tranche [ ] Environmental Control Bond Balance $[________]
iv. Projected Tranche [ ] Environmental Control Bond Balance $[________]
v. Projected Environmental Control Bond Balance $[________]
vi. Required Tranche [ ] Coupon ([ ]% per annum rate) $[________]
vii. Required Tranche [ ] Coupon ([ ]% per annum rate) $[________]
viii. Required Tranche [ ] Coupon ([ ]% per annum rate) $[________]
ix. Required Tranche [ ] Coupon ([ ]% per annum rate) $[________]
x. Required Capital Subaccount Funding $[________]
Required Funding. Payments as of Current Payment Date: $22,327,023.95 Series 2021 Periodic Principal Due $9,667,924.00 Da Rate ys in Interest Period2 Principal Balance Interest Due Series 2021 Interest Due 2.97% 180 $795,756,344.00 $11,816,982.00 Required Level Additional Funding Required
