Base Equity Requirement definition

Base Equity Requirement means cash equity funds equal to an amount that, as of the Initial Borrowing Date, together with the Loan Commitment will be sufficient to pay all Project Costs as reflected in the Project Budget delivered by Borrower to Lender pursuant to Section 3.1.24.
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Base Equity Requirement means cash equity funds equal to $96,249,010.70.
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Base Equity Requirement means equity funds equal to $65,000,000.00, which may be contributed by obtaining for Borrower and maintaining on its behalf any letters of credit required under the Project Documents.
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Examples of Base Equity Requirement in a sentence

  • Borrower shall have, and shall have certified and accounted in form and substance acceptable to Lender that Borrower has, received and applied the proceeds of cash equity contributions from Pledgor or Sponsor to the payment of Project Costs in an aggregate amount not less than the Base Equity Requirement.

  • Borrower shall have certified to Administrative Agent and the Lenders (in form and substance satisfactory to Administrative Agent acting at the direction of the Lenders), that B▇▇▇▇▇▇▇ has received the proceeds of cash equity contributions made by its Affiliate, which collectively are in an aggregate amount not less than the Base Equity Requirement.

  • The Base Equity Requirement of an Equity Position shall be equal to the absolute value of the product of (x) 35% and (y) the net market value of such position.

  • The House Margin Requirement for ▇▇▇▇▇▇▇▇’s portfolio of Eligible Securities comprised of Equity Positions shall be determined by Lender as the sum of (i) the Base Equity Requirement and (ii) the Equity Add-On Requirement, as each are set forth below.

  • Borrower shall have certified to the Lead Arrangers (in form and substance reasonably satisfactory to the Lenders) and the Lead Arrangers and the Independent Engineer shall have confirmed, that FEC and MEC have applied the proceeds of cash equity contributions made by Sponsor to the payment of Project Costs in an aggregate amount not less than the Base Equity Requirement.