Financing Obligation definition
Examples of Financing Obligation in a sentence
Notwithstanding anything to the contrary, for purposes of this Agreement the term “Non-Contributing/Loan Member” shall include any Member who (i) fails to duly elect to make a proposed Capital Call under Section 4.01 or a proposed loan pursuant to Section 4.02 and (ii) fails to fund such Capital Call or loan, in each case, to the extent necessary to cover the amount of any Matured Financing Obligation that is to become due within [***] Days or that has become due (by acceleration or otherwise).
Notwithstanding anything to the contrary, no Member shall have any obligation to make Capital Contributions in respect of, or otherwise be subject to recourse or liability for, a Matured Financing Obligation under a Financing Commitment relating to a given Series except if such Member holds Membership Interests of such Series.
In addition to the foregoing, in the event of Breach of Commercially Reasonable Efforts Event, Breach of Future Financing Obligation Event, Breach of Confidentiality Obligation Event, or Company Change of Control Event, Licensor shall, to the extent allowed by Law, have a right of first refusal to purchase all of Company’s interest in the Product and the Company Technology in the Territory (the “Right of First Refusal”).
Each party hereto agrees that this Agreement shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any ABL Obligation or Used Truck Financing Obligation is rescinded or must otherwise be restored by the ABL Agent, the Used Truck Lender or any other Secured Party upon the bankruptcy or reorganization of the Company or otherwise.
Funds may be deposited into the Capital Projects Account at the direction of any Repauno Entity from Additional Equity Contributions, the proceeds of Permitted Subordinated Debt or the proceeds of other Permitted Indebtedness to be used to pay the costs of Capital Projects in accordance with the requirements set forth in the applicable Issuer Lease Agreement or other Financing Obligation Document.
Upon adoption of a resolution of the Board indicating its desire to proceed with the issuance of a Financing Obligation, Bond Counsel shall provide the following legal services in connection with the preparation of the resolutions, documents and certifications necessary for the sale and delivery of the Financing Obligations.
The Collateral Agent shall transfer funds from the Capital Projects Account upon request by the applicable Repauno Entity, together with a certificate from a Responsible Officer of such Repauno Entity to the effect that such Capital Project is permitted pursuant to the applicable Issuer Lease Agreement or other Financing Obligation Document, except that following an Enforcement Action, monies in the Capital Projects Account shall be applied in the manner described in Section 9.08.
We hereby agree to purchase a portion (expressed as an undivided interest) of the Leased Assets for a consideration equal to the Financing Obligation Purchase Price on the Financing Obligation Option Payment Date.
However, any discharge of any such Bridge Financing Obligations to the Agent or any Bridge Lender shall, to the same extent, discharge the applicable Borrowers vis-à-vis such other parties, and neither the Bridge nor the Agent shall, by virtue of this Section 44, be entitled to pursue the Borrowers concurrently for the same Bridge Financing Obligation.
Each Repauno Entity agrees that it shall comply with any “use of proceeds” covenant or similar requirement in any Bond Indenture or other Financing Obligation Document applicable to such Repauno Entity.