Examples of Permitted Borrowing in a sentence
The General Partner shall not be entitled to borrow on behalf of the Limited Partnership, or on its own behalf, or to grant Encumbrances against any of the assets of the Limited Partnership without the prior written approval of the City and OSEG pursuant to the Stadium Shareholder’s Agreement, with the exception of the Permitted Borrowing and as otherwise permitted or required under the Project Agreement or the Stadium Lease.
If the SPV makes changes to the Senior Funding Agreements which have not been approved by the Authority for the purposes of Clause 4.3 they will be disregarded for the purposes of calculating termination sums unless they qualify as Additional Permitted Borrowing.
No amendment, waiver or exercise of a right under any Financing Agreement or Ancillary Document shall have the effect of increasing the Authority's liabilities on early termination of this Agreement unless: the Contractor has obtained the prior written consent of the Authority to such increased liability for the purposes of this clause 54.2; or it is a Permitted Borrowing.
The General Partner shall not be entitled to borrow on behalf of the Limited Partnership, or on its own behalf, or to grant Encumbrances against any of the assets of the Limited Partnership without the prior written approval of the City and OSEG pursuant to the Ottawa 67’s Shareholder’s Agreement, with the exception of the Permitted Borrowing and Encumbrances permitted under Section 8.3(b).
If the calculation referred to in Clause 53.23 above shows that the [senior debt loan life cover ratio] is less than [event of default level] then the amount equal to the lesser of: the insurance proceeds; and the Base Senior Debt Termination Amount, or, if any Additional Permitted Borrowing has been advanced, the Revised Senior Debt Termination Amount, shall be released from the Insurance Proceeds Account to Sub-hubco.