Interim Financing Agreement definition
Examples of Interim Financing Agreement in a sentence
The Company will use good faith, commercially reasonable efforts to maximize the amount of Cash included in the SpinCo Assets, including using good faith commercially reasonable efforts to enter into the Interim Financing Agreement.
The execution, delivery and performance of the Interim Financing Agreement by NaviCyte and the granting of any security interests in the NaviCyte Intellectual Property (as defined in Section 3.15(c)) will not result in any breach of or constitute a default under any material contract to which the Company or NaviCyte is a party.
In the spirit of cooperation Purchaser and Seller each agree to negotiate in good faith to establish an Alternative Interim Financing Agreement to permit Seller to perform or complete any system renovation, upgrade, expansion or acquisition necessary to comply with any existing Contracts or applicable Legal Requirements without utilizing proceeds from the TWDB Bond Debt, including any monies deposited in the Construction Fund.
The execution and delivery of the Interim Financing Agreement and the borrowing of funds thereunder have been duly and validly authorized by all necessary corporate action and no other corporate proceeding on the part of the Company or NaviCyte are necessary to authorize the Interim Financing Agreement.
As soon as practicable following the execution and delivery of this Agreement, Parent and NaviCyte and/or the Company will enter into the Interim Financing Agreement on such commercially reasonable terms as Parent and the Company shall agree; provided that the borrowings under the Interim Financing Agreement will be secured by either the NaviCyte Intellectual Property or assets of the Company of a quality and value reasonably satisfactory to Parent and the Company.
Any security interest granted to the Parent under the Interim Financing Agreement will be perfected under applicable law to the extent possible.
In March 1999, the City, the Padres, the Agency, and CCDC entered into an Interim Financing Agreement in which the Padres agreed to advance to the Agency $8.7 million toward the eventual purchase by the Padres of the Outfield Park Retail Parcels.
The Interim Financing Agreement also provided for an additional $3.5 million advance by the Padres for acreage added to the Outfield Park Retail Parcels, the addition of which had the affect of reducing the size of the Outfield Park.
The Redevelopment Agency will repay to the Padres $4 million; $3.5 million as reimbursement to the Padres for the advance funded under the 1999 Interim Financing Agreement for the incremental increase in the size of the Outfield Park Retail Parcels, and $500,000 as an interest component.