Paid in Full Date definition
Paid in Full Date. Borrowers Obligations (other than contingent indemnity and reimbursement obligations not then due and payable and Obligations under or in respect of Specified Swap Agreements and Specified Cash Management Agreements) shall have been satisfied by payment in full, no Letter of Credit shall be outstanding (or all Letters of Credit shall have been fully cash collateralized in accordance with the terms of the Credit Agreement) and the Commitments shall be terminated.
Paid in Full Date means the earlier to occur of (a) the date that is one hundred twenty- three (123) days after the date on which all the Credit Facility Obligations have been satisfied by indefeasible payment in full in cash (unless during such one hundred twenty-three (123) day period (i) any preference or similar claim is made upon Fannie Mae or any lender in respect of any Fannie Mae Credit Facility, or (ii) any Insolvency Proceeding in respect of the Company or any Fannie Mae Borrower is commenced, in any of which events the Paid in Full Date shall be deemed not to have occurred until such claim is resolved to the satisfaction of Fannie Mae or, in the case of any Insolvency Proceeding, such Insolvency Proceeding is completed and any such claim made in connection with such Insolvency Proceeding is resolved to the satisfaction of Fannie Mae); and (b) the date that is one hundred twenty-three (123) days after the date on which the Company and the Fannie Mae Borrowers have received (or deemed to have received) payment in cash from the Investors in respect of proceeds of Equity Draws hereunder in amount equal to $10,000,000 (of which $6,000,000 has been drawn as of the date hereof) pursuant to and strictly in accordance with this Agreement (unless during such one hundred twenty-three (123) day period
Paid in Full Date means the date on which all Obligations under the Credit Agreement, including the Guaranteed Obligations, have been indefeasibly satisfied by payment in full in cash, all Commitments under the Credit Agreement have been terminated and all Letters of Credit Issued under the Credit Agreement have expired, have been discharged, or have been cash collateralized in accordance with the terms of the Credit Agreement.
Examples of Paid in Full Date in a sentence
The obligations of each Qualified ECP Guarantor under this Section 2.8 shall remain in full force and effect until the Paid in Full Date.
More Definitions of Paid in Full Date
Paid in Full Date means the earlier to occur of (a) the date that is one hundred twenty-three (123) days after the date on which all the Credit Facility Obligations have been satisfied by indefeasible payment in full in cash (unless during such one hundred twenty-three (123) day period (i) any preference or similar claim is made upon ▇▇▇▇▇▇ ▇▇▇ or any lender in respect of any ▇▇▇▇▇▇ ▇▇▇ Credit Facility, or (ii) any Insolvency Proceeding in respect of the Company or any ▇▇▇▇▇▇ ▇▇▇ Borrower is commenced, in any of which events the Paid in Full Date shall be deemed not to have occurred until such claim is resolved to the satisfaction of ▇▇▇▇▇▇ ▇▇▇ or, in the case of any Insolvency Proceeding, such Insolvency Proceeding is completed and any such claim made in connection with such Insolvency Proceeding is resolved to the satisfaction of ▇▇▇▇▇▇ ▇▇▇); and (b) the date that is one hundred twenty-three (123) days after the date on which the Company and the ▇▇▇▇▇▇ ▇▇▇ Borrowers have received (or deemed to have received) payment in cash from the Investors in respect of proceeds of Equity Draws hereunder in amount equal to $10,000,000 (of which $6,000,000 has been drawn as of the date hereof) pursuant to and strictly in accordance with this Agreement (unless during such one hundred twenty-three (123) day period (i) any preference or similar claim is made upon ▇▇▇▇▇▇ ▇▇▇ or any lender in respect of any ▇▇▇▇▇▇ ▇▇▇ Credit Facility or this Agreement, or (ii) any Insolvency Proceeding in respect of the Company, any ▇▇▇▇▇▇ ▇▇▇ Borrower or any Investor is commenced, in any of which events the Paid in Full Date shall be deemed not to have occurred until such claim is resolved to the satisfaction of ▇▇▇▇▇▇ ▇▇▇ or, in the case of any Insolvency Proceeding, such Insolvency Proceeding is completed and any such claim made in connection with such Insolvency Proceeding is resolved to the satisfaction of ▇▇▇▇▇▇ ▇▇▇).