Outside Funding definition
Examples of Outside Funding in a sentence
Accrued Ticking Fees shall be payable in arrears (i) on the last Business Day of each month, commencing on September 29, 2023, and (ii) on the earlier to occur of (i) the Funding Date and (ii) the Outside Funding Date.
The certification by a Certified Professional Accountant also certifies that the statement has been prepared in accordance with Canadian Generally Accepted Accounting Principles and reflects the FII Project Funding, the Third-Party Project Funding and the Additional Outside Funding, if any, received, and that the costs claimed in respect of the FII Project Funding are Eligible Costs.
This annual financial report will summarize all revenues and expenditure information in connection with the Work including the sources and uses for each of the FII Project Funding, the Third-Party Project Funding and the Additional Outside Funding, if any, and will incorporate a Reconciliation Statement and Certification for Project Expenditures, the template for which can be downloaded from the on-line application system.
The Recipient is required to account for the FII Project Funding, the Third-Party Project Funding and any Additional Outside Funding received (or receivable) by the Recipient.
Within 30 days of receipt of any Additional Outside Funding, the Recipient will provide FII with written notice stating the source, amount and date of receipt of the Additional Outside Funding.
The annual financial report must also include a certification by a Certified Professional Accountant that all the Third-Party Project Funding and the Additional Outside Funding, if any, received by the Recipient in connection with the Work or the Project Proposal has been disclosed to FII and is accurately reflected as the applicable type of funding in the annual financial report.
In the event the Outside Funding Date is extended, the obligation to continue to pay a commitment fee on the unused portion of the Commitment shall be likewise extended.
In the event that Lessee desires to terminate its right to obtain Advances hereunder prior to the Outside Funding Date, Agent and Trustee agree to enter into an amendment to this Agreement and the other Transaction Documents as necessary to terminate the obligation of the Purchasers to advance the unused portion of the Commitment, and after such termination no further commitment fees shall be due.
Upon the Term Loan Outside Funding Date, any remaining undrawn Term B Loan Commitments shall be terminated automatically as provided in Section 2.1 above and no further Unused Term B Fees shall accrue after such date.
B▇▇▇▇▇▇▇ agrees to pay to Lender a fee (a “Ticking Fee”) equal to six percent (6%) per annum on the unfunded amount of the Loan during the period from and including the Closing Date to but excluding the earlier to occur of (i) the Funding Date and (ii) the Outside Funding Date.