First Funding definition

First Funding. The making of the first loan under the Revolving Credit.

First Funding. Date shall mean the Business Day on which proceeds of the Revolving Credit Loans are first advanced under this Agreement.

First Funding has the meaning specified in the Stock Purchase Agreement.

Examples of First Funding in a sentence

• Your GMDB Benefit Base is funded as of the PBA First Funding Date.

• Your “PBA First Funding Date” is the Transaction Date that amounts are first contributed or transferred to the PBA.

• Prior to or substantially concurrently with the First Funding Event, all obligations under the TPC Credit Agreement shall have been repaid and any Liens securing such obligations shall have been released and terminated.

• From time to time, prior to the First Funding Event, the Company shall have the right to add Commitments from investors (“Additional Investors”) reasonably acceptable to the Investors who are parties to this Agreement on the date hereof.

• Prior to the commencement of the training,Workplace Training Strategies must sight and retain copies or verify through athird-party provider of the documentation demonstrating (student) eligibility for the tuition fee waiver/exemption to meet the record keeping requirements set out in the Sills First Funding requirements.

More Definitions of First Funding

First Funding has the meaning ascribed thereto in Section 2.2 hereof.

First Funding is defined in Section 3.

First Funding has the meaning set forth in Article 2.2 (First Funding) below.

First Funding and "First Funding Date" shall have the meanings ascribed to them, respectively, in Section 3.3.

First Funding means the funding of a Revolving Loan, the initial extension of credit hereunder, in accordance with the terms and conditions of this Agreement, including, the conditions set forth in Section 3 of this Agreement, and subject to the following additional conditions precedent (i) the proceeds of such Revolving Loan shall be used solely to fund the St. Louis Tax Payment, (ii) Excess Availability, after giving effect to such payment of the St. Louis Tax Payment, the funding of such Revolving Loan, and the payment of all other fees, costs and expenses, if any, required to be paid by Borrowers on or before such date under this Agreement or any other Loan Document, is not less than $1,500,000, and (iii) Borrowers have provided Lender with written confirmation, supported by reasonably detailed calculations, that, on a pro forma basis after giving effect to such Revolving Loan and the St. Louis Tax Payment, the Loan Parties and their Restricted Subsidiaries would have been in compliance with the financial covenants in Section 7 of this Agreement for the fiscal quarter or fiscal month, as applicable, ended immediately prior to the proposed date of consummation of such proposed Revolving Loan and St. Louis Tax Payment.

First Funding. The making (or deemed making, as contemplated by Section 14.22) of the first loan or the issuance (or deemed issuance, as contemplated by Section 14.22) of the first L/C under the Revolving Credit on or after the Effective Date.

First Funding shall have the meaning set forth in Section 2.03(a)(i).