Mandatory Funding definition

Mandatory Funding shall have the meaning ascribed thereto in Section 2.3.
Sample 1Sample 2
Mandatory Funding see Section 2.3.
Sample 1Sample 2

Examples of Mandatory Funding in a sentence

  • If the Company has elected a Mandatory Funding, the mechanics of exercise set forth in Section 1(a) shall apply, to the extent applicable, as if the Company had received from the Holder on the Mandatory Funding Date an Exercise Notice with respect to the Additional Notes being issued pursuant to the Mandatory Funding.

  • If the Company elects to cause an exercise of this AIR pursuant to Section 3(a), then it must simultaneously take the same action in the same proportion with respect to the Other AIRs. All AIRs exercised by the Holder after the Mandatory Funding Notice Date shall reduce the amount of Additional Notes required to be issued on the Mandatory Funding Date.

  • A Negotiated Rate Advance may not be prepaid prior to the last day of the applicable Negotiated Rate Interest Period except for a prepayment funded by a Mandatory Funding.

  • The Company may only deliver one (1) Mandatory Funding Notice pursuant hereto.

  • The Company may exercise its right to require purchase of Additional Notes under this Section 3(a) by delivering within not more than three Trading Days following the end of any such Mandatory Funding Measuring Period a written notice thereof by facsimile and overnight courier to all, but not less than all, of the holders of AIRs (the "MANDATORY FUNDING NOTICE" and the date all of the holders received such notice is referred to as the "MANDATORY FUNDING NOTICE DATE").

  • Except for a Mandatory Funding, each --------------- Revolving Loan Advance shall be in the minimum amount of Three Million Dollars ($3,000,000) (and in multiples of One Million Dollars ($1,000,000) if in excess thereof), provided, however, that any ABR Advance may be in the amount of the -------- ------- unused Revolving Loan Commitments.

  • If an Event of Default does exist pursuant to Section 10.1(f) or (g) at the time of any Mandatory Funding, each payment by a Bank as part of such Mandatory Funding shall be deemed to be such Bank's purchase of a participation interest in the outstanding Swingline Loans.

  • The Agent shall give each Bank notice of such Mandatory Funding by 11:00 a.m. on the date the Mandatory Funding is to be made.

  • Unless an Event of Default exists pursuant to Section 10.1(f) or (g), each such payment by a Bank as part of a Mandatory Funding shall be deemed to be a Base Rate Loan made to the Company pursuant to such Bank's Commitment as part of a Revolving Borrowing of Base Rate Loans to the Company, and the Company hereby irrevocably instructs the Swingline Bank to apply the proceeds of such Mandatory Funding to the payment of the outstanding Swingline Loans.

  • Except for a Mandatory Funding, each Eurodollar Advance shall be in the minimum amount of $5,000,000 and in integral multiples of $1,000,000 (if in excess thereof), and each Floating Rate Advance (other than an Advance under the Swingline) may be in the amount of $1,000,000 or an integral multiple thereof.

Related to Mandatory Funding

  • 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.

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

  • Initial Funding means the funding of the initial Loans or issuance of the initial Letters of Credit upon satisfaction of the conditions set forth in Sections 6.01 and 6.

  • Principal Funding Investment Shortfall means, with respect to each Transfer Date relating to the Controlled Accumulation Period, the amount, if any, by which the Principal Funding Investment Proceeds for such Transfer Date are less than the Covered Amount determined as of such Transfer Date.

  • Principal Funding Investment Proceeds means, with respect to each Transfer Date, the investment earnings on funds in the Principal Funding Account (net of investment expenses and losses) for the period from and including the immediately preceding Transfer Date to but excluding such Transfer Date.

  • Mandatory Tender Date means any date on which a Multi-Modal Bond is subject to mandatory tender in accordance with the Certificate.

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

  • 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:

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

  • Mandatory or “(M)” shall mean the Vendor must comply with the requirement, and the Response will be evaluated on a pass/fail basis.

  • Mandatory Tender with respect to a Mandatory Tender Event, means the mandatory tender of all VRDP Shares by Holders for Remarketing, or, in the event (i) no Remarketing occurs on or before the Purchase Date or (ii) pursuant to an attempted Remarketing, VRDP Shares remain unsold and the Remarketing Agent does not purchase for its own account the unsold VRDP Shares tendered to the Tender and Paying Agent for Remarketing (provided, that the Remarketing Agent may seek to sell such VRDP Shares in a subsequent Remarketing prior to the Purchase Date), for purchase by the Liquidity Provider at the Purchase Price pursuant to Section 2 of Part II of the Articles Supplementary and the VRDP Shares Purchase Agreement.

  • Residual Funding Facility means any funding arrangement with a financial institution or institutions or other lenders or purchasers under which advances are made to the Company or any Subsidiary based upon residual, subordinated or retained interests in Receivables Entities or any of their respective securities, debt instruments or other Indebtedness.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • Funding means the amounts of money provided by the LHIN to the HSP in each Funding Year of this Agreement;

  • Additional Funding has the meaning prescribed to that term in clause 4.3 of this Agreement.

  • Mandatory Tender Event means (a) each failure by the Fund to make a scheduled payment of dividends on a Dividend Payment Date; (b) the occurrence of a Liquidity Provider Ratings Event (which shall constitute a single Mandatory Tender Event upon the occurrence of such Liquidity Provider Ratings Event, whether or not continuing and whether or not such Liquidity Provider Ratings Event also results in a Mandatory Purchase Event; provided that, a subsequent Liquidity Provider Ratings Event, following restoration of the short-term debt ratings to the requisite level, shall constitute a new Mandatory Tender Event); (c) in the event of a failure by the Fund to pay the Liquidity Provider the applicable fee due in advance under the terms of the VRDP Fee Agreement by seven Business Days prior to the beginning of the month to which such payment relates if the Liquidity Provider (in its sole discretion) thereafter provides written notice to the Fund that such failure to pay such fee constitutes a Mandatory Tender Event; (d) the eighth day prior to the scheduled date of the occurrence of an Extraordinary Corporate Event; (e) the Fund shall have obtained and delivered to the Tender and Paying Agent an Alternate VRDP Purchase Agreement by the fifteenth day prior to the Scheduled Termination Date, Liquidity Provider Ratings Event Termination Date or Related Party Termination Date, as the case may be, of the VRDP Purchase Agreement being replaced; (f) the Fund shall have provided a Notice of Proposed Special Rate Period in accordance with this Statement; or (g) in the event of a breach by the Fund of its Effective Leverage Ratio covenant with the Liquidity Provider in the VRDP Fee Agreement and the failure to cure such breach within 60 days from the date of such breach (which 60-day period would include the Effective Leverage Ratio Cure Period), if the Liquidity Provider (in its sole discretion) thereafter provides written notice to the Fund that the failure to timely cure such breach constitutes a Mandatory Tender Event (subject to the Fund curing such breach prior to the delivery date of such notice from the Liquidity Provider).

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

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

  • Principal Funding Account Balance means, with respect to any date of determination during the Controlled Accumulation Period, the principal amount, if any, on deposit in the Principal Funding Account on such date of determination.

  • Special Mandatory Redemption has the meaning provided in Section 3.02(a).

  • 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.

  • Special Mandatory Redemption Date has the meaning set forth in Section 3.02(b) hereto.

  • Mandatory Redemption Date means, in respect of a Mandatory Redemption Event, the date designated as such in accordance with Condition 8.7.

  • Initial Funding Date means the Funding Date on which the first Loan is made pursuant to this Agreement, as specified in the Initial Borrower Funding Request.

  • Special Mandatory Redemption Event has the meaning specified in Section 3.02(a) hereto.

  • Mandatory Redemption means a redemption of ETP Securities in accordance with Condition 8.7.