Member Debt Financing definition
Examples of Member Debt Financing in a sentence
In the event that such other Member has already remitted any amount in respect of its Additional Capital Contribution, the Joint Venture Company shall, upon such other Member’s request and at its option, return such amount or deem all or a portion of such contribution to be Member Debt Financing hereunder.
Other than the Revolver or lease financings, any Member Debt Financing or Member Guaranteed Financing shall be in the form of an amortizing term loan.
In such event, the terms of the Member Debt Financing will be consistent in all material respects with the terms of the Member Guaranteed Financing.
Each Member Debt Financing (a) shall be structured such that interest and principal payments thereon shall be scheduled on the same dates during each relevant fiscal quarter as each other Member Debt Financing and (b) unless the applicable Member or its Affiliates otherwise agrees, shall not have a term that is longer than four (4) years or extends beyond the date that is six (6) years from the Launch Date.
Notwithstanding the foregoing, in the event that one Member or its Affiliates is able to issue a Member Guarantee to a third party to procure its pro rata portion of any Member Guaranteed Financing, then (1) such Member or its Affiliates will be able to do so even if the other Member or its Affiliates is unable to do so and (2) such other Member or its Affiliates must provide Member Debt Financing for its pro rata portion of such financing.
Member or its Affiliates must provide Member Debt Financing for its pro rata portion of such financing.
In the event that such other Member has already remitted any amount in respect of its Additional Capital Contribution, the Joint Venture Company shall, upon such other Member's request (which request must be delivered in writing within fifteen (15) days after the date the Additional Capital Contribution was due) and at its option, (i) return such amount and treat such amount as never having been contributed or (ii) deem all or a portion of such contribution to be Member Debt Financing hereunder.
THE CERTIFICATES SHALL CLEARLY INDICATE THAT THE VENDOR HAS OBTAINED INSURANCE OF THE TYPE, AMOUNT AND CLASSIFICATION REQUIRED BY THE CITY.POLICIES OTHERTHANWORKERS’ COMPENSATION SHALL BE ISSUED BY INSURERS LICENSED AND/OR DULY AUTHORIZED UNDER FLORIDA LAW TO DO BUSINESS IN THE STATE OF FLORIDA AND ALL INSURING COMPANIES ARE REQUIRED TO HAVE A MINIMUM RATING OF “ A” IN THE “ BEST KEY RATING GUIDE” PUBLISHED BY A.M. BEST & COMPANY, INC.
The Board of Managers shall be responsible for determining the type of financing required to fund the operations of the Company, which may include issuing equity to Members or through transactions in public or private markets, or incurring debt from Members or from public, private or bank markets with or without a Member Guarantee; provided, however, that no Member Debt Financing or Member Guarantee shall affect a Member’s respective Membership Interest.
Furthermore, a Funding Member shall not be required to provide Mandatory Member Debt Financing with respect to a [***] Capital Contribution under a [***] that is part of a Disputed Approved Business Plan proposed by the Non-Funding Member.