Purchase Money Financing definition
Examples of Purchase Money Financing in a sentence
Notwithstanding anything to the contrary in this Lease, not more than fifty percent (50%) of the value of the Personal Property returned to Landlord as required herein may at the time of such return be subject to Purchase Money Financing, and at the time of such return Tenant shall assign to Landlord all of its right, title and interest in and to such any and all documents evidencing such Purchase Money Financing.
RAIT agrees that it shall not be regarded as a creditor of RPI 49 and will, at the request of the Purchase Money Lender, execute a standstill agreement and such other agreements satisfactory to the Purchase Money Lender in which RAIT will agree to and confirm the terms and conditions regarding the subordination of its Participation Interest (as hereinafter defined) to the Purchase Money Financing.
As long as the Purchase Money Financing shall be outstanding, the Property Manager shall be irrevocably instructed to make all payments due thereon to the Purchase Money Lender prior to making any payments to RAIT or RPI 49.
RPI 49 will administer the Loan, receiving all Net Cash Flow from the Property Manager and/or the Liquidating Agent and holding or distributing the same as required under the Purchase Money Financing documents and this Agreement.
Grantee has as of the date hereof sold certain assets to Grantor and as part of such sale has agreed to finance a portion of the purchase price thereof in an aggregate principal amount of Two Million, Three Hundred Fifty Thousand and No/100 DOLLARS ($2,350,000.00) (the "Purchase Money Financing") pursuant to the provisions of that certain Agreement for Purchase and Sale of Assets dated as of November 8, 2004 between Grantor and Xxx Xxxxxx & Associates, Inc.