Material Financing definition

Material Financing means any financing, or series of financings with a common lender or lending group, in favor of Tenant or Guarantor with an aggregate commitment in excess of $50,000,000.

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Material Financing means any obligation of Tenant or any Affiliate of Tenant (including Guarantor) for borrowed money having a principal balance of $1,000,000 or more in the aggregate including any instrument under which any such obligation is created or secured; Failure of the Other Landlords Rent Condition (defined below) for any calendar month. Surrender of Letters of Credit. Effective as of the date hereof and notwithstanding anything in the Master Lease to the contrary, the Letters of Credit held by Landlord pursuant to Article 20 of the Master Lease (the “LCs”) may be drawn by Landlord and the proceeds from such draw are and are deemed to be the property of Landlord, fully earned by Landlord and non-refundable. The draw of the LCs and the application of the proceeds thereof contemplated by this Section 3 shall not reduce or modify Tenant’s obligations under the Master Lease in any respect, including, but not limited to, Tenant’s obligations to pay Impositions and insurance premiums and to make the escrow deposits required by Articles 3 and 4 of the Master Lease from and after April 1, 2020. For greater clarity, the application of proceeds of the drawn LCs under Section 5 hereof does not in any way limit the provisions of this Section 3.

Material Financing means (i) any obligation of Tenant or Guarantor for borrowed money having a principal balance of [***] Dollars ($[***]) or more in the aggregate, and (ii) any obligation of any Affiliate of Guarantor for borrowed money having a principal balance of [***] Dollars ($[***]) or more in the aggregate including in either case any instrument under which any such obligation is created or secured.

Examples of Material Financing in a sentence

• With respect to our opinion in paragraph 4, we inform you that we have not reviewed the covenants in the Material Financing Contracts that contain financial ratios and other similar financial restrictions, and no opinion is provided with respect thereto.

• The copies of all Material Financing Documents provided to the Lender by Borrower are true, correct and complete in all material respects.

• Company shall give Agent written notice of each such event to Agent together with a copy of the fully-signed and delivered Related Agreements for such Material Financing within 10 Business Days after such Material Financing becomes binding on Company or any Restricted Subsidiary.

• No event of default or event that with the passage of time could result in an event of default exists under any Project Documents, Material Financing Agreement (Covenant) or the Series C Repurchase Agreement.

• The execution and delivery by April , 2011 each Opinion Party of the Equity Documents to which it is a party does not, and the performance by it of its obligations thereunder will not, violate, breach or result in a default under any of the Material Financing Contracts.

• Borrower shall perform its obligations under the Project Documents and the Material Financing Agreements (Covenant).

• The occurrence (beyond any applicable grace or cure period) of any default under any agreement or obligation of Borrower under any material Project Document or Material Financing Agreement (Covenant), which default entitles the lessor or lender thereunder to accelerate Borrower’s obligations thereunder or exercise any of the rights of a secured creditor.

• The execution and delivery by each Opinion Party of the Equity Documents to which it is a party does not, and the performance by it of its obligations thereunder will not, violate, breach or result in a default under any of the Material Financing Contracts.

• The execution and delivery by each Opinion Party of the Equity Documents to which it is a party does not, and the performance by it of its obligations thereunder will not, violate, breach or result in a default April , 2011 under any of the Material Financing Contracts.

• Borrower shall not amend, modify or waive any provision or term of any Project Document or any Material Financing Agreement (Covenant), in a manner materially adverse to Lender.

More Definitions of Material Financing

Material Financing means a bona fide equity financing resulting in gross cash proceeds to the Company of $300,000.00 or more.

Material Financing means (i) an equity placement which raises a minimum of $1,500,000 for the Company, at any price greater than $0.25 per share (subject to any Share Adjustment). In the event that a Material Financing is expected to close within 30 business days, the Company will notify the Subscriber of the impending closing and the Subscriber will have the opportunity to subscribe and pay for additional Shares up to the Subscription Proceeds of such Subscriber until the closing of the Material Financing; or (ii) the Company’s capital stock shall begin trading in a U.S. major stock exchange (i.e. Nasdaq, NYSE).

Material Financing means a financing by any Casino or an Affiliate involving a sum greater than $3,000,000. Material Litigation means litigation against any Casino or an Affiliate which must be disclosed to Gaming Authorities.

Material Financing means any obligation of Tenant or any Affiliate of Tenant (including Guarantor) for borrowed money having a principal balance of $1,000,000 or more in the aggregate including any instrument under which any such obligation is created or secured; or Failure of the Other Landlords Rent Condition (defined below) for any calendar month. Surrender of Security Deposit and Escrow Deposits. Effective as of the date hereof and notwithstanding anything in the Master Lease to the contrary, the Security Deposit and all escrow deposits held by Landlord pursuant to Section 3.3 of the Master Lease have been applied to Tenant’s obligations under the Master Lease and shall be deemed fully earned by Landlord and non-refundable. The application of the Security Deposit and such escrow deposits contemplated by this Section 3 shall not reduce or modify Tenant’s obligations under the Master Lease in any respect, including, but not limited to, Tenant’s obligations to pay Impositions and insurance premiums and to make the escrow deposits required by Section 3.3.1 of the Master Lease from and after April 1, 2020.