Permitted Project Financing definition

Permitted Project Financing means one or more loans with a Qualified Lender secured by a Leasehold Mortgage, together with all modifications, renewals, supplements, substitutions and replacements thereof, entered into by Tenant for the purpose of financing or refinancing Tenant’s obligations to design, develop and construct the Project Improvements and/or to operate and maintain the Project Improvements in accordance with the terms of this Lease.
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Permitted Project Financing has the meaning given such term in the Purchase Agreement.
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Permitted Project Financing means indebtedness for borrowed money on terms acceptable to the Majority Lenders and which is incurred by one or more Obligors the proceeds of which (if not used to repay the Obligations) will be used solely to pay Project costs; where the amount of such indebtedness is in an aggregate amount of the greater of (i) $[REDACTED – Commercially Sensitive Information.] and (ii) such amount that, together with all other cash on hand held by Obligors for the purpose of funding to completion the development and construction of the Project (in accordance with the feasibility study against which a construction decision is made by the Board of the Borrower), is [REDACTED – Commercially Sensitive Information.]% of that amount which is determined to be sufficient to result in the Project being fully funded to completion.
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Examples of Permitted Project Financing in a sentence

  • Whenever in this Lease, the term Leasehold Mortgagee is used, such term (i) shall be limited to the Permitted Project Financing Holder designated by Tenant as a Leasehold Mortgagee in a Tenant’s Notice of Project Financing delivered to Landlord pursuant to this Section 25.1.2 and (ii) shall not include such designated Permitted Project Financing Holder after there is not any outstanding commitment or unpaid indebtedness with respect to the Permitted Project Financing.

  • Tenant has obtained binding commitments in respect of the Permitted Project Financing on or before December 31, 2019.

  • The Property Insurance Policy shall name Tenant as Loss Payee and the Permitted Project Financing Holders as Mortgagee.

  • Tenant shall provide to Landlord Representative reasonable evidence that Tenant has obtained Permitted Project Financing that, in Landlord Representative’s reasonable discretion, is sufficient to complete Tenant’s Project Improvements Work, which evidence shall be provided to Landlord on or before June 30, 2020.

  • Tenant shall provide to Landlord Representative reasonable evidence that Xxxxxx has obtained Permitted Project Financing that, in Landlord Representative’s reasonable discretion, is sufficient to complete Tenant’s Project Improvements Work, which evidence shall be provided to Landlord on or before May 15, 2023.

  • Tenant shall provide to Landlord Representative reasonable evidence that Xxxxxx has obtained Permitted Project Financing that, in Landlord Representative’s reasonable discretion, is sufficient to complete Tenant’s Project Improvements Work, which evidence shall be provided to Landlord on or before June 30, 2020.

Related to Permitted Project Financing

  • Financing Lease Obligation means, as applied to any Person, an obligation that is required to be accounted for as a financing or capital lease (and, for the avoidance of doubt, not a straight-line or operating lease) on both the balance sheet and income statement for financial reporting purposes in accordance with GAAP. At the time any determination thereof is to be made, the amount of the liability in respect of a financing or capital lease would be the amount required to be reflected as a liability on such balance sheet (excluding the footnotes thereto) in accordance with GAAP.

  • Project Facility means facility being one or more of the following facilities as specified in the Special Conditions of Contract, being developed in accordance with the Project and the Detailed Project Implementation Report and includes all its buildings, equipment, facilities, software and systems and includes without limitation, where the circumstances so require, any expansion thereof from time to time and may include any new location to be separately mentioned in the Special Conditions of Contract.

  • Project Facilities means all the amenities and facilities situated on the Site, as described in Schedule-C;

  • Project means the goods or Services described in the Signature Document or a Work Order of this Contract.