Future Funding Obligation definition

Future Funding Obligation means, with respect to a Purchased Asset, any amount required to be advanced by the holder after the first disbursement under such Purchased Asset which as of the date of determination has not yet been advanced.
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Future Funding Obligation shall have the meaning set forth in Section 9.1(d) hereof.
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Future Funding Obligation means, with respect to any Future Funding Asset, the obligation to make one or more Future Advances retained by the Issuer. GAAP has the meaning specified in Section 6.3(k).
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Examples of Future Funding Obligation in a sentence

  • With respect to a Purchased Asset with a Future Funding Obligation, Seller shall have certified that all conditions to such Future Funding Obligation have been satisfied.

  • Any funds advanced pursuant to a Future Funding Obligation shall be owing to Greenwich Capital Financial Products, Inc.

  • The Seller shall have requested an increase to the outstanding Purchase Price with respect to amounts funded under a Future Funding Obligation in accordance with the time frames set forth in Section 3(c); for the avoidance of doubt, Buyer shall determine in its sole good faith discretion whether to advance additional Purchase Price in connection with a funded Future Funding Obligation.

  • After the initial Purchase Date, as part of separate Transactions, Seller may request, and Buyer may fund, subject to the terms and conditions of this Agreement, an increase to the Purchase Price for a Purchased Asset based on an increase in Asset Value solely resulting from the satisfaction, in whole, or in part, of a Future Funding Obligation.

  • After the initial Purchase Date, as part of separate Transactions, Seller may request, and Buyer may fund, in Xxxxx’s sole discretion and subject to the terms and conditions of this Agreement, an increase to the Purchase Price for a Purchased Asset based on an increase in Asset Value solely resulting from the satisfaction, in whole, or in part, of a Future Funding Obligation.

  • In connection with a request to increase the Purchase Price to fund a Future Funding Obligation, Seller shall have certified with respect to the relevant Purchased Asset that all conditions to such Future Funding Obligation have been satisfied.

  • Any funds advanced pursuant to a Future Funding Obligation shall be owing to Greenwich Capital Financial Products, Inc., but in the event that Borrower has insufficient funds to pay both the Holder and Greenwich Capital Financial Products, Inc., the Holder shall have a prior right to such payment and a prior lien on the Property.

  • At such time as Lender has so transferred the entire Future Funding Obligation pursuant to this Section 9.1(d), the named Lender hereunder shall have no Future Funding Obligation hereunder.

  • In furtherance of the foregoing, Borrowers hereby agree that Lender and/or any such assignee or participant may assign, transfer or sell all or any portion of its Future Funding Obligation and shall thereafter be relieved of such Future Funding Obligation, provided that such assignee at the time of assignment assumes such Future Funding Obligation in writing in a manner directly enforceable by, and reasonably acceptable to, Borrowers and a copy of such assumption is delivered to Borrowers.

  • Upon initial purchase of an Future Funding Asset, such Future Funding Obligation shall be treated as part of the purchase price for such Collateral Interest.


More Definitions of Future Funding Obligation

Future Funding Obligation means, with respect to any Pledged Asset, any mandatory agreement, commitment, covenant or obligation of Borrower or any of its predecessors-in-interest to advance funds for any purpose on or subsequent to the Borrowing Date of the Loan secured by such Pledged Asset, whether in connection with any unfunded portion of or future advance regarding, any loan or other invested amount of such Pledged Asset.
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Future Funding Obligation means, with respect to a Purchased Asset any amount to be advanced by the Seller after the first (1st) disbursement under such Purchased Asset and which as of the date of determination has not yet been advanced. For the avoidance of doubt, any earnouts or upfront reserves under or established prior to the first (1st) disbursement under such Purchased Asset that are included in the unpaid principal balance shall not constitute Future Funding Obligations and will be funded as part of the initial Purchase Price.
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Future Funding Obligation. With respect to any Delayed Draw Term Loan, the additional funding obligation related thereto.
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Future Funding Obligation means, with respect to a Purchased Asset any amount to be advanced by the holder after the first disbursement under such Purchased Asset and which as of the date of determination has not yet been advanced.
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Future Funding Obligation means, with respect to (i) a Delayed Draw Loan, the maximum remaining amount that can be borrowed under such Delayed Draw Loan, and (ii) any other Future Funding Investment, the maximum funding obligation (including any funded or unfunded obligations, contingent or otherwise) of the Borrower under such Future Funding Investment.
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Related to Future Funding Obligation

  • Pre-Funding Amount With respect to any date, the amount on deposit in the Pre-Funding Account.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Qualified refunding obligation means an obligation issued or incurred by an authority or by a municipality on behalf of an authority to refund an obligation if the refunding obligation meets both of the following:

  • Outstanding Obligations means, as of any date, and giving effect to making any Extensions of Credit requested on such date and all payments, repayments and prepayments made on such date, the sum of (a) the aggregate outstanding principal amount of all Loans, and (b) all Letter of Credit Usage.

  • Project Funding Agreement means an agreement in the form of Schedule E that incorporates the terms of this Agreement and enables the Funder to provide one-time or short term funding for a specific project or service that is not already described in the Schedules;

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the May 2023 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the November 2023 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.

  • Pre-Funded Amount With respect to any date of determination, the amount on deposit in the Pre-Funding Account.

  • Relevant Funding Agreements means the agreement or agreements entered into by the Company and the Secretary of State under section 1 of the Academies Act 2010 for the establishment of each Academy, including any variation or supplemental agreements thereof;

  • Subordination Deficiency With respect to any Distribution Date, the excess, if any, of (a) the Specified Subordinated Amount applicable to such Distribution Date over (b) the Subordinated Amount applicable to such Distribution Date.

  • CarMax Funding means CarMax Auto Funding LLC, a Delaware limited liability company.

  • Equity Contribution Agreement means the Equity Contribution Agreement, to be dated as of the Closing Date, by and among Guarantor, Borrower and Administrative Agent.

  • Interest Funding Account shall have the meaning specified in subsection 4.2(b).

  • Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.

  • Non-Lead Securitization Note Holder means any holder of a Non-Lead Securitization Note.

  • Escrow Account Pledge Agreement means the pledge agreement entered into between the Issuer and the Agent in respect of a first priority pledge over the Escrow Account and all funds held on the Escrow Account from time to time, granted in favour of the Noteholders.

  • student loan means a loan towards a student’s maintenance pursuant to any regulations made under section 22 of the Teaching and Higher Education Act 1998, section 73 of the Education (Scotland) Act 1980 or Article 3 of the Education (Student Support) (Northern Ireland) Order 1998 and includes, in Scotland, a young student’s bursary paid under regulation 4(1)(c) of the Students’ Allowances (Scotland) Regulations 2007.

  • Initial Mortgage Loan A Mortgage Loan conveyed to the Trust Fund on the Closing Date pursuant to this Agreement as identified on the Mortgage Loan Schedule delivered to the Trustee on the Closing Date.

  • Subordinated Shareholder Funding means, collectively, any funds provided to the Issuer by any Parent, any Affiliate of any Parent or any Permitted Holder or any Affiliate thereof, in exchange for or pursuant to any security, instrument or agreement other than Capital Stock, in each case issued to and held by any of the foregoing Persons, together with any such security, instrument or agreement and any other security or instrument other than Capital Stock issued in payment of any obligation under any Subordinated Shareholder Funding; provided, however, that such Subordinated Shareholder Funding:

  • Original Pre-Funded Amount The amount deposited by the Depositor in the Pre-Funding Account on the Closing Date, which amount is $36,215,225.

  • Lead Securitization Note Holder means the holder of the Lead Securitization Note.

  • Non-Lead Securitization Note means any Note other than the Lead Securitization Note.

  • Existing Obligations means the “Obligations” under and as defined in the Existing Credit Agreement.

  • Liquidity Funding means (a) a purchase made by any Committed Lender pursuant to its Liquidity Commitment of all or any portion of, or any undivided interest in, an applicable Conduit’s Loans, or (b) any Loan made by a Committed Lender in lieu of such Conduit pursuant to Section 1.1.

  • Match funding or “match share” means cash or in-kind (non-cash) contributions provided by the Applicant/Recipient, subcontractors, or other parties that will be used in performance of the proposed project. Match share percentage is calculated by dividing the total match share contributions by the total allowable project cost. “Total allowable project cost” is the sum of the CEC’s reimbursable share and Recipient’s match share of the project costs. Match share expenditures have the following requirements:

  • Principal Funding Account Investment Proceeds shall have the meaning specified in subsection 4.03(a)(ii).

  • Pre-Funding Period means the period beginning on the Closing Date and ending on the earliest of (a) the date on which the amount on deposit in the Pre-Funding Account is less than $10,000, (b) the Funding Termination Date or (c) the date on which an Event of Termination occurs.