Funding Failure has the meaning set forth in Section 5.7.10.
Funding Failure means the First Funding Failure or a Subsequent Funding Failure, as applicable.
Funding Failure means the occurrence of any of the following:
Examples of Funding Failure in a sentence
Change in structure of funding bodies, and introduction of new priorities), noting that this remained high risk (i.e. rated Red) even after controls, as there were limited controls available to the College, although it could monitor and evaluate the external environment. Risk 8: Funding (Failure to comply with LSC/ The Agency/HEFCE Financial Memorandum and HEFCE conditions of funding.
The Contractor is not entitled to terminate this Agreement under clause 21.6 if the LFC fails to pay any Charges due and payable as a result of an LFC Funding Failure, except to the extent such a right of termination exists under the Shareholders’ Agreement.
In the event of a Default under Article 24 (other than a Funding Failure Default), a Recognized Mortgagee may exercise its rights under Section 11.4 hereof.
After an Event of Default, Landlord may, subject to the rights of any Recognized Mortgagee (unless a Funding Failure Default has occurred), collect rent and all other sums due under any Subleases and apply the net amount collected to the Rental payable by Tenant hereunder.
Timing of Required Notices and Applications for Funding: Failure to provide correct and timely notices can be one of the most expensive mistakes that a subrecipient can make.
More Definitions of Funding Failure
Funding Failure has the meaning set forth in the Purchase Agreement.
Funding Failure means AMID’s inability or failure to make (or obtain funds sufficient to make) the cash payments required to be made pursuant to Section 2.2 and Section 6.3(d) if (a) all conditions to the Closing set forth in Section 6.1 and Section 6.2 have been satisfied or waived by the AMID Entities (other than conditions that, by their nature, are to be satisfied at the Closing), (b) the Closing has not occurred on or prior to the Outside Date after the satisfaction or waiver by the AMID Entities of each condition to the Closing set forth in Section 6.1 and Section 6.2 (other than conditions that, by their nature, are to be satisfied at the Closing) and (c) Holdings LP is prepared to and is able to consummate the Transactions on the terms set forth in this Agreement; provided that a Funding Failure shall not be deemed to have occurred if (x) AMID GP or any of its Affiliates commits to provide any Financing (an “AMID GP Financing”) and Holdings LP or any holders of its Equity Interests or any of their respective Affiliates (including the Guarantors but excluding any Holdings Company) do not commit to provide Financing in an amount equal to the lesser of (i) 20% of the AMID GP Financing and (ii) $15 million at the same time and on the same terms and conditions as the AMID GP Financing (the “Holdings Financing”) and (y) the failure of Holdings LP or any holders of its Equity Interests or any of their respective Affiliates (including the Guarantors but excluding any Holdings Company) to commit to provide, or provide, Holdings Financing is the sole reason for AMID’s inability or failure to make the cash payments required to be made pursuant to Section 2.2 and Section 6.3(d).
Funding Failure means (a) with respect to clause (i) of the definition of Required Funding Date, the failure by the Company to receive at least $87,000,000 pursuant to the Equity Commitment Documents, (b) with respect to clause (ii) of the definition of Required Funding Date, the failure by the Company to receive at least $100,000,000 pursuant to the Equity Commitment Documents (the “April Equity Tranche”), (c) with respect to any other Required Funding Date, the failure by the Company to receive the aggregate cash exercise price payable with respect to a Forced Exercise (assuming full exercise in respect of the Maximum Forced Exercise Share Amount (as such term is defined in the Equity Commitment Document described in clause (b) of such definition) with respect to such Forced Exercise as set forth in the Equity Commitment Documents described in clause (b) of the definition thereof) on such Required Funding Date; provided, that if a Forced Exercise could not occur because of the Company’s failure to satisfy clauses (xi) and (xiii) of the “Equity Conditions” (as such term is defined in the Equity Commitment Document described in clause (b) of such definition) on such date, the Company shall have until the date that is five (5) Trading Days following such Required Funding Date to consummate the Forced Exercise prior to it resulting in a Funding Failure, (d) the failure to satisfy clause (x) of the “Equity Conditions” (as such term is defined in the Equity Commitment Document described in clause (b) of such definition) which continues for a period of 5 Business Days following the date of the failure to satisfy such condition, or (e) a holder of the Equity Commitment Document described in clause (b) of such definition repudiates in writing any of its obligations to purchase equity under the Equity Commitment Documents (including pursuant to a termination or revocation of such obligations).
Funding Failure means the occurrence of any of the following: .1 if, at any time and for whatever reason (including by reason of default by the Contractor or the repair or replacement of any damage or destruction to all or any part of the Project), the estimated cost to complete the Work (including rectifying all known Latent Defects and completing all warranty work) and the Development Services, as determined by the Project Monitor, acting reasonably, is greater than the aggregate amount of all funding available for the Project pursuant to the Craft Loan Agreement, the Syndicate Construction Loan Agreement and, to the extent available, the Craft Cash Collateral, and Terra Firma (or to the extent required or permitted under the Cost Overrun Guarantee, the Contractor and the Syndicate) declines to fund the difference pursuant to the Cost Overrun Guarantee; or .2 if, at any time, a Cost Overrun as defined under the Cost Overrun Guarantee is not funded by Terra Firma as required under the Cost Overrun Guarantee (or by the Contractor or the Syndicate as required or permitted under the Cost Overrun Guarantee).
Funding Failure means Purchaser’s inability or failure for any reason to make (or obtain funds sufficient to make) the Closing Payment if (i) all conditions of Purchaser to Closing have been fulfilled (other than the conditions for which Seller has not been able to fulfill or otherwise satisfy based on Purchaser’s failure to perform or observe its covenants and agreements hereunder and except for any such conditions that by their nature may only be satisfied at or in connection with the occurrence of Closing) and (ii) Seller is ready, willing, and able to close (subject to the preceding parenthetical).
Funding Failure means (a) with respect to clause (i) of the definition of Required Funding Date, the failure by the Company to receive at least
Funding Failure means the failure of ICCMIC to fund at least $3 million of Additional Loans (as defined in the Loan Agreement) pursuant to and in accordance with Section 11 of the Loan Agreement, other than because of a breach by ICCMIC of its obligation, if any, to fund such Additional Loans.