Funding Package Clause Samples
A Funding Package clause defines the financial resources or arrangements that will be provided to support a project or transaction. Typically, this clause outlines the total amount of funding, the sources of funds (such as loans, equity, or grants), and the schedule or conditions for disbursement. For example, it may specify that a certain sum will be made available upon reaching project milestones or after fulfilling specific requirements. The core function of this clause is to ensure all parties have a clear understanding of how the project will be financed, thereby reducing uncertainty and helping to allocate financial risk.
Funding Package. Receipt of the complete Funding Package for each such Railcar, including a ▇▇▇▇ of Sale and a Physical Inspection Report (if and to the extent required by Section 6.10), based upon a physical inspection of a representative sampling of such Railcars conducted not earlier than 90 days before the proposed Funding Date. The Independent Appraisal (if required) included within such Funding Package shall be issued and dated within 30 days of the proposed Funding Date.
Funding Package. Receipt of the complete Funding Package for each such Railcar, including ▇▇▇▇ of Sales. The Independent Appraisal included within such Funding Package shall be issued and dated within 60 days prior to the proposed Closing Date.
Funding Package. At least ten (10) Business Days prior to such Transfer Date (or such shorter period as Agent may agree) the Borrower shall have delivered to the Agent a Funding Package for such aircraft to be added to the Portfolio on such Transfer Date, provided that to the extent that any component of a Funding Package (other than the Request, the Independent Appraisals and jurisdiction information) has not been finalized and/or executed, as applicable, at the time such Funding Package is delivered to the Agent, drafts of such documents may be provided; provided, further, that if drafts of the foregoing are submitted, substantially final versions thereof shall be received by the Agent at least three (3) Business Days prior to the applicable Transfer Date (or such shorter period as the Agent may agree).
Funding Package. At least ten (10) Business Days prior to such Funding Date or such shorter period as Administrative Agent may agree (but in no event less than three (3) Business Days), the Borrower shall have delivered to the Administrative Agent a Funding Package for such aircraft to be added to the Portfolio on such Funding Date, provided that to the extent that any component of a Funding Package (other than the Request, the Appraisals, the Physical Inspection Report and jurisdiction information) has not been finalized and/or executed, as applicable, at the time such Funding Package is delivered to the Administrative Agent, drafts of such documents may be included in such Funding Package; provided, further, if drafts of the foregoing are submitted, substantially final versions of such documents shall be received by the Administrative Agent at least three (3) Business Days prior to the applicable Funding Date or such shorter period as the Administrative Agent may agree.
Funding Package. Receipt of the complete Funding Package for each such Initial Portfolio Railcar. The Independent Appraisal included within each such Funding Package shall be issued and dated within 90 days prior to the Closing Date.
Funding Package. The Borrower shall submit to the Administrative Agent a package (a “Funding Package”) prepared by the Borrower or Servicer prior to the Drawdown Date therefore, which shall consist of the following items (it being agreed by the Administrative Agent that the Borrower or Servicer may submit such items to the Administrative Agent in parts and at such time as the Administrative Agent receives the last of the required information, such information, in aggregate, shall constitute a complete Funding Package): (i) each Loan Request in respect of an Asset, which shall specify the following information and be in substantially the form attached hereto as Schedule IV: (A) whether the Asset in relation thereto is an Owned Asset or a Loan Asset and whether such Asset shall be acquired pursuant to the acquisition of an Asset Interest; (B) the amount of the requested Loan and in respect of an Owned Asset or a Loan Asset and the Initial Appraised Value of the Owned Asset or Underlying Asset; (C) the Drawdown Date of such Loan, which shall be a Business Day during the Availability Period; (D) the location and number of the account to which funds are to be disbursed, which shall comply with the requirements of Section 2.04; and - 57 - (E) a complete list in the Annex to such Loan Request of the relevant Owned Assets or Underlying Assets (including the manufacturer, model and manufacturer’s serial number) which comprise the relevant Assets to be acquired, financed or refinanced as of the Applicable Drawdown Date and each Asset Owning Entity that owns or will own such Owned Asset or Loan Asset as of the Applicable Drawdown Date and the details of any Stock Assets also to be acquired; (ii) a copy of the relevant Portfolio Documents; (iii) a copy of the Initial Appraisals; and (i) in the case of an Asset Lease, the amount of the Initial Maintenance Reserve Required Amount for the relevant Asset and a Maintenance Estimate specific to such Asset; (ii) in the case of any Owned Asset, if applicable, copies of the certificate of registration and the certificate of airworthiness for the Owned Asset, in each case issued by the appropriate aviation authority in the State of Registration.