Excess Refinancing Proceeds definition

Excess Refinancing Proceeds means the amount (if any) of Refinancing Proceeds remaining after payment of the Redemption Price of the Secured Notes and the Refinancing Expenses incurred in connection with the Refinancing.
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Excess Refinancing Proceeds means an amount equal to the sum of (a) the amount of Refinancing Proceeds, if any, generated due to a difference between (1) the rates (yields) actually realized upon the issuance of the New Sewer Warrants, and (2) the rates (yields) assumed to be realized in the Further Amended Financing Plan; and (b) the amount of the excess, if any, when (1) the aggregate amount of the Distributions and other payments actually made under the Plan on account of all Sewer Debt Claims (including as a result of the ultimate Tail Risk resulting from the rescission process for holders of the Series 2003-C-9 Through C-10Sewer Warrants that are deemed to make the Commutation Election), before giving effect to any Distributions made under Section 4.19 of the Plan, is subtracted from (2) the aggregate amount of the Distributions and other payments projected to be made under the Plan on account of all Sewer Debt Claims as set forth in the Further Amended Financing Plan.
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Excess Refinancing Proceeds means the net amount of refinancing proceeds available after full payment of the principal amount of the Borrower's loan under the Bank Loan Documents and any other amounts required to be paid in connection therewith.
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Examples of Excess Refinancing Proceeds in a sentence

  • Upon any refinancing of the Borrower's loan under the Bank Loan Documents, the GDB shall be repaid in whole or in part from Excess Refinancing Proceeds, if any.

  • Upon receipt of an Excess Proceeds Notice, each holder of Series A Preferred Stock shall be entitled to elect, via written notice to the Corporation (a “Redemption Request”), that the Corporation apply such Excess Refinancing Proceeds to redeem (to the extent of funds legally available for such redemption) the number of outstanding shares of Series A Preferred Stock set forth in the Redemption Request (which may include shares of Series A Preferred Stock received as cumulative PIK Dividends).

  • At any time and from time to time on or after the Series A Original Issue Date, when and as the Corporation receives, upon a refinancing of the New Debt, net proceeds from such refinancing in excess of the aggregate outstanding principal and interest amounts of New Debt (the “Excess Refinancing Proceeds”), the Corporation shall promptly provide written notice of the Excess Refinancing Proceeds to each holder of Series A Preferred Stock (an “Excess Proceeds Notice”).

  • TERM SECTION PAGE ---- ------- ---- Affiliates 24.18(a) 28 Alterations 13 10 Bankruptcy Code Exhibit "F" base rent 1.1(e) 1 Building 1.1(d) 1 Commencement Date 1(aa) 1 Condemnation 17 15 Control Affiliates 24.18(aa) 28 Cure Payments 19.5 20 Excess Refinancing Proceeds Add.

  • In the event that a Refinancing Transaction shall be consummated that results in Excess Refinancing Proceeds equal to or greater than $20,000,000 then, subject to Article III, the Company shall make a prepayment in an amount equal to 50% of such Excess Refinancing Proceeds (the "Refinancing Prepayment"), which amount shall forthwith be due and payable to Holder.

  • If the Excess Refinancing Proceeds are not sufficient, on any Mandatory Redemption Date, to redeem all shares of Series A Preferred Stock to be redeemed on the Mandatory Redemption Date, the Corporation shall redeem a pro rata portion of redeemable shares of each holder that timely delivered a Redemption Request, based on the share amounts set forth in the holders’ respective Redemption Requests.


More Definitions of Excess Refinancing Proceeds

Excess Refinancing Proceeds means an amount equal to (1) the aggregate principal amount (or accreted value, if applicable) of any Indebtedness incurred to refinance any Real Property Secured Indebtedness pursuant to a Permitted Refinancing, minus (2) the sum of (i) the aggregate principal amount (or accreted value) of the Real Property Secured Indebtedness which is refinanced pursuant to such Permitted Refinancing, (ii) any premium or penalty paid in connection with such extension, refinancing, renewal, replacement, defeasance or refunding and (iii) any fees or expenses required to be paid by the Companies or any of their Subsidiaries in connection with such extension, refinancing, renewal, replacement, defeasance or refunding.
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Excess Refinancing Proceeds means all of the net proceeds actually distributed to Landlord that are directly traceable to and result from excess proceeds from mortgage refinancing first encumbering the Premises after a No-sale Election if and to the extent that the disbursed principal balance of each such refinancing exceeds: the outstanding principal balance and all accrued and unpaid interest and other charges (including, without limitation, prepayment and "breakage" fees and similar charges) under loan(s) that were repaid by such refinancing; plus any other Liabilities and reserves therefor that were paid with the proceeds of such refinancing. There shall not be deemed to be any Excess Refinancing Proceeds arising from the funding of the financing described in Section 19.4(a).
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Excess Refinancing Proceeds means an amount equal to the excess, if any, of (x) the net proceeds (i.e., gross proceeds reduced by transaction fees and expenses) of any Refinancing Transaction over (y) the aggregate principal amount of any FLAC Holdings Notes repaid or retired in such Refinancing Transaction plus any fees and expenses owing to XLCA in connection with such FLAC Holdings Notes.
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Excess Refinancing Proceeds means the amount (if any) of Refinancing
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Excess Refinancing Proceeds means the excess, if any, of the gross proceeds of a Refinancing less (i) the reasonable costs incurred by Property Owners in connection therewith and (ii) the amount required to repay, in full, the mortgage indebtedness which is being refinanced.
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Excess Refinancing Proceeds means, in connection with the First Refinancing Loan only, the excess, if any, of the proceeds of the First Refinancing Loan over the sum of (i) any amounts necessary to discharge the Construction Loan and the Permanent Loan, (ii) any amounts required to pay any other debts or obligations of the Partnership which are then due (other than Subordinated Loans), (iii) any costs or expenses incurred in connection with the refinancing of the Permanent Loan, including without limitation, loan origination fees, title insurance premiums, commitment fees, brokerage commissions, if any, and attorney's fees, (iv) any amounts required to be paid or set aside for any other purpose in order to satisfy conditions to or established in connection with the funding of the First Refinancing Loan and (v) the Refinance Reserve Amount.
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Related to Excess Refinancing Proceeds

  • Financing Proceeds means the net proceeds from any loan secured by all or any portion of the Partnership's real property (including any refinancing) that remain after the repayment of any indebtedness of the Partnership secured by all or a portion of such real property with such proceeds and all costs related to such loan.

  • Permitted Refinancing Debt means any Debt that Refinances any other Debt, including any successive Refinancings, so long as:

  • Refinancing Debt means Debt that refunds, refinances, renews, replaces or extends any Debt permitted to be Incurred by the Company or any Restricted Subsidiary pursuant to the terms of this Indenture, whether involving the same or any other lender or creditor or group of lenders or creditors, but only to the extent that

  • Refinancing shall have correlative meanings.

  • Refinancing Date The date on which a Current Mortgage Loan or Mortgage Loan is refinanced by Seller or an affiliate thereof.

  • Permitted Refinancing means, with respect to any Person, any modification, refinancing, refunding, renewal, replacement or extension of any Indebtedness of such Person; provided that (a) the principal amount (or accreted value, if applicable) thereof does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness so modified, refinanced, refunded, renewed, replaced or extended except by an amount equal to unpaid accrued interest and premium thereon plus other reasonable amounts paid, and fees and expenses reasonably incurred, in connection with such modification, refinancing, refunding, renewal, replacement or extension and by an amount equal to any existing commitments unutilized thereunder, (b) other than with respect to a Permitted Refinancing in respect of Indebtedness permitted pursuant to Section 7.03(e), such modification, refinancing, refunding, renewal, replacement or extension has a final maturity date equal to or later than the final maturity date of, and has a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended, (c) other than with respect to a Permitted Refinancing in respect of Indebtedness permitted pursuant to Section 7.03(e), at the time thereof, no Event of Default shall have occurred and be continuing and (d) if such Indebtedness being modified, refinanced, refunded, renewed, replaced or extended is Junior Financing, (i) to the extent such Indebtedness being modified, refinanced, refunded, renewed, replaced or extended is subordinated in right of payment to the Obligations, such modification, refinancing, refunding, renewal, replacement or extension is subordinated in right of payment to the Obligations on terms at least as favorable to the Lenders as those contained in the documentation governing the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended, (ii) such modification, refinancing, refunding, renewal, replacement or extension is incurred by the Person who is the obligor of the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended and (iii) if the Indebtedness being modified, refinanced, refunded, renewed, replaced or extended was subject to an Intercreditor Agreement, the holders of such modified, refinanced, refunded, renewed, replaced or extended Indebtedness (if such Indebtedness is secured) or their representative on their behalf shall become party to such Intercreditor Agreement.

  • Permitted Refinancing Indebtedness means any Indebtedness of the Company or any of its Restricted Subsidiaries issued in exchange for, or the net proceeds of which are used to extend, refinance, renew, replace, defease or refund other Indebtedness of the Company or any of its Restricted Subsidiaries (other than intercompany Indebtedness); provided that:

  • Refinancing Notes means any secured or unsecured notes or loans issued by the Borrower or any Subsidiary Loan Party (whether under an indenture, a credit agreement or otherwise) and the Indebtedness represented thereby; provided, that (a) (i) 100% of the Net Proceeds of such Refinancing Notes that are secured on a pari passu basis with the Term B-1 Loans are used to permanently reduce Loans and/or replace Commitments substantially simultaneously with the issuance thereof or (ii) 90% of the Net Proceeds of any other Refinancing Notes are used to permanently reduce Loans and/or replace Commitments substantially simultaneously with the issuance thereof; (b) the principal amount (or accreted value, if applicable) of such Refinancing Notes does not exceed the principal amount (or accreted value, if applicable) of the aggregate portion of the Loans so reduced and/or Commitments so replaced (plus unpaid accrued interest and premium (including tender premiums) thereon and underwriting discounts, defeasance costs, fees, commissions and expenses); (c) the final maturity date of such Refinancing Notes is on or after the Term Facility Maturity Date or the Revolving Facility Maturity Date, as applicable, of the Term Loans so reduced or the Revolving Facility Commitments so replaced; (d) the Weighted Average Life to Maturity of such Refinancing Notes is greater than or equal to the Weighted Average Life to Maturity of the Term Loans so reduced or the Revolving Facility Commitments so replaced, as applicable; (e) in the case of Refinancing Notes in the form of notes issued under an indenture, the terms thereof do not provide for any scheduled repayment, mandatory redemption or sinking fund obligations prior to the Term Facility Maturity Date of the Term Loans so reduced or the Revolving Facility Maturity Date of the Revolving Facility Commitments so replaced, as applicable (other than customary offers to repurchase or mandatory prepayment provisions upon a change of control, asset sale or event of loss and customary acceleration rights after an event of default); (f) the other terms of such Refinancing Notes (other than interest rates, fees, floors, funding discounts and redemption or prepayment premiums and other pricing terms), taken as a whole, are substantially similar to, or not materially less favorable to the Borrower and its Subsidiaries than the terms, taken as a whole, applicable to the Term B-1 Loans (except for covenants or other provisions applicable only to periods after the Latest Maturity Date in effect at the time such Refinancing Notes are issued), as determined by the Borrower in good faith (or, if more restrictive, the Loan Documents are amended to contain such more restrictive terms to the extent required to satisfy the foregoing standard); (g) there shall be no obligor in respect of such Refinancing Notes that is not a Loan Party; and (h) Refinancing Notes that are secured by Collateral shall be subject to the provisions of a Permitted Pari Passu Intercreditor Agreement or a Permitted Junior Intercreditor Agreement, as applicable.