Initial Maximum Amount definition
Examples of Initial Maximum Amount in a sentence
The Exit Fee shall be equal to (i) the product of (A) .013 multiplied by (B) seventy percent (70%) of the sum of (1) the Initial Maximum Amount plus (2) the excess of the Additional Maximum Amount over $50,000,000.00 less (ii) the amount of the Loan that is repaid with the proceeds of permanent financing obtained from Lender.
Compensation shall not exceed the Initial Maximum Amount, unless and until ERT notifies Consultant in writing of the approval of ERT’s Board of Directors for Consultant to provide services up to the Final Maximum Amount.
Tranche B shall be reduced in 4 consecutive quarterly amounts; the first reduction will be due 3 months after first drawdown, but at the latest June 30, 2005: 1-3: USD 5,000,000 4: USD 10,000,000 Should the Initial Maximum Amount be less than USD 25 million, the reduction amounts shall be reduced in the inverse order of maturity.
To the extent GMACCM, in its sole discretion, does not commit to this loan, or if after committing, there is a decrease in the projected Approved Project Costs and/or an increase in the projected Construction Loan Amount (either or both of which shall increase the Initial Maximum Amount shown above), until and unless this Schedule I is re-executed by the undersigned, such proposed Mortgage Loan shall not be a part of this schedule, and Guarantor shall have no liability or obligations related thereto.
The Borrowers shall apply the Facility insofar as it relates to the Initial Maximum Amount for the purposes referred to in the Recital and insofar as it relates to the Upsize Amount for the purposes referred to in Clause 2.1.2.