Future Funding Amount definition

Future Funding Amount. With respect to any Purchased Asset for which a Future Funding Transaction has been requested by Seller and approved by Buyer pursuant to Section 3.10, the product of (a) the amount that Seller is funding as a post-closing advance on the related Future Funding Date as required by the related Purchased Asset Documents relating to such Purchased Asset, and (b) the Applicable Percentage for such Purchased Asset; provided, in no event shall the aggregate amount so requested by Seller exceed the amount of future funding set forth on the related Confirmation for the initial Transaction relating to such Purchased Asset, minus all previous Future Funding Amounts funded by Buyer relating to such Purchased Asset.

Future Funding Amount. As defined in the Indenture.

Future Funding Amount. With respect to a Participated Loan, any unfunded future funding obligations of the lender thereunder.

Examples of Future Funding Amount in a sentence

• If Buyer determines not to advance a Future Funding Amount with respect to any Purchased Asset, Seller shall promptly satisfy all future funding obligations with respect to each Purchased Asset as and when required pursuant to the related Purchased Asset Documents, together with the terms of this Agreement.

• Each Future Funding Confirmation shall identify the related Whole Loan and/or Senior Interest, shall identify Buyer and Seller, shall set forth the requested Future Funding Amount, and shall be executed by both Buyer and Seller; provided, however, that Buyer shall not be liable to Seller if it inadvertently acts on a Future Funding Confirmation that has not been signed by a Responsible Officer of Seller.

• Buyer shall be entitled to make a determination, in the exercise of its sole and absolute discretion whether, in the case of a Future Funding Transaction, it shall or shall not advance the Future Funding Amount.

• There are a further 77 houses that appear in the LDP (Local Development Plan) but do not have a date for construction.

• Buyer shall be entitled to make a determination, in the exercise of Buyer’s sole and absolute discretion whether, in the case of a Future Funding Transaction, it shall or shall not advance the requested Future Funding Amount.

More Definitions of Future Funding Amount

Future Funding Amount shall have the meaning specified in Article 3(y)(i).

Future Funding Amount. With respect to any Purchased Asset for which a Future Funding Transaction has been requested by Seller and approved by Buyer pursuant to Section 3.10, the amount funded by Buyer in connection with such Future Funding Transaction; provided that in no event shall a Future Funding Amount exceed the product of (a) the amount that Seller is funding as a post-closing advance on the related Future Funding Date as required by the related Purchased Asset Documents relating to such Purchased Asset, and (b) the Maximum Applicable Percentage for such Purchased Asset; provided, in no event shall the aggregate amount so requested by Seller exceed the amount of future funding set forth on the related Confirmation for the initial Transaction relating to such Purchased Asset, minus all previous Future Funding Amounts funded by Buyer relating to such Purchased Asset.

Future Funding Amount. With respect to any Future Funding Transaction, the additional Purchase Price funded by Buyer to Seller in connection with such Future Funding Transaction.

Future Funding Amount means with respect to any Purchased Loan for which a Future Funding Transaction has been duly requested by Seller pursuant to Section 3(o), the product of (a) the Maximum Original Purchase Percentage for such Purchased Loan and (b) the amount of future funding advances made under the Purchased Loan with respect to which the requested Future Funding Transaction relates; provided, in no event shall the aggregate amount so requested by Seller exceed the amount of future funding set forth on the related Confirmation for the initial Transaction relating to such Purchased Loan, multiplied by the Maximum Original Purchase Percentage for such Purchased Loan, minus all previous Future Funding Amounts funded by Buyer relating to such Purchased Loan.

Future Funding Amount means a portion of the Loan and Senior Loan, as applicable, consisting of Future Advances not to exceed Fifty Million Five Hundred Fifty Thousand and No/100 Dollars ($50,550,000.00), in the aggregate, available to be advanced to Borrower in accordance with the terms and conditions set forth in this Agreement and the Senior Loan Agreement, as applicable, of which $0 has been advanced on the date hereof.

Future Funding Amount means, (i) with respect to any Construction Loan or Senior Mortgage Loan, the amount of additional funding obligations that were expressly identified to and approved by Buyer in connection with the initial Transaction or (ii) with respect to any Purchased Asset where Seller elected to apply a percentage lower than the Advance Rate set forth in Schedule I in connection with the initial Transaction, the amount of additional funds available to be advanced against such Purchased Asset.

Future Funding Amount means the aggregate dollar amount of all unfunded Future Funding Obligations.