General Financing Provisions Clause Samples
The General Financing Provisions clause outlines the fundamental terms and conditions governing the financial arrangements between the parties in an agreement. It typically addresses matters such as payment schedules, interest rates, disbursement procedures, and the responsibilities of each party regarding funding. For example, it may specify when payments are due, how funds are to be transferred, and what happens in the event of late payments. The core function of this clause is to ensure clarity and predictability in the financial aspects of the contract, thereby reducing the risk of disputes related to payment and funding obligations.
General Financing Provisions. 19 2.3.1 Borrower's Representatives. 19 2.3.2 Use of Proceeds of the Loan. 20 2.3.3 Computation of Interest and Fees. 20 2.3.4 Maximum Interest Rate. 20 2.3.5 Payments. 20 2.3.6 Liens; Setoff. 21 2.3.7 Requirements of Law. 21 2.3.8 Hedge Transactions. 22
General Financing Provisions. Section 4.1 Conditions Precedent to Credit Facility Closing and Addition of Deeds of Trust.
(a) Conditions Precedent to Credit Facility Closing. The following shall be conditions precedent to the Credit Facility Closing or to the addition of an Additional Borrower and/or the addition of an Eligible Project to the Borrowing Base (each a "Facility Closing"):
(i) The Master Guaranty, this Agreement and all applicable Notes shall have been properly executed and delivered to the Administrative Agent.
(ii) The Administrative Agent shall have received and approved a copy of each Borrower's fully executed Partnership Agreement (if a limited partnership), Operating Agreement and Articles of Organization (if a limited liability company) and a certified copy of the recorded Certificate of Limited Partnership (if a limited partnership) or Articles of Organization (if a limited liability company). In connection with the addition of an Additional Borrower, the Administrative Agent shall have received and approved copies of all organizational documents, including certified copies of all documents on record with the State in which such entity is organized.
(iii) The Administrative Agent shall have received and approved a certificate executed by all of the general and limited partners or members of the Borrowers authorizing the execution and delivery of this Agreement or any other the Financing Documents being delivered in connection herewith and consenting to the Loan and similar authority certificates or resolutions of any Additional Borrower. 37 44
(iv) The Administrative Agent shall have received and approved a current certificate of good standing or certificate of fact from the State in which any Borrower is formed.
(v) The Administrative Agent shall have received and approved an opinion of counsel for the Borrowers as to the Borrowers' good standing, form, powers and authority and as to the validity, binding effect and enforceability of the Financing Documents and such an opinion shall be issued in connection with the execution and delivery of each Joinder Agreement.
(vi) The Borrowers under the Master Credit Facility shall have paid all fees then due pursuant to any fee letter between the Administrative Agent and the Borrowers and/or the Master Guarantor.
(vii) The Master Credit Facility restructure shall have closed.
(b) Conditions Precedent to Accepting an Eligible Project:
(i) The Credit Facility Closing shall have been completed.
(ii) The Administrative Agent sh...
General Financing Provisions. Conditions Precedent to Credit Facility Closing and Addition of Deeds of Trust
General Financing Provisions. 37 2.4.1 Lender Authorizations.......................................37 2.4.2 Use of Proceeds of the Loans................................37 2.4.3 Closing Fee.................................................37 2.4.4 Collateral Management Fee...................................37 2.4.5 Computation of Interest and Fees............................38 2.4.6 Payments....................................................38 2.4.7 Liens; Setoff...............................................38 2.4.8 Requirements of Law.........................................38 2.4.9 Funds Transfer Services.....................................39
General Financing Provisions. 36 Section 4.1 Conditions Precedent to Credit Facility Closing and Addition of Deeds of Trust................36 Section 4.2 Conditions Precedent to Determining Availability Under Borrowing Base.........................40 Section 4.3 Conditions Under Which an Eligible Project is a Completed Facility............................41 Section 4.4 Computation of Interest and Fees..............................................................42 Section 4.5 Liens; Setoff...............................................................................42 Section 4.6 Payment and Performance of Obligations........................................................42 Section 4.7 Payments to Others for the Account of the Borrowers...........................................42 Section 4.8 Prepayment....................................................................................43 Section 4.9 Requisitions for the Operating Reserve........................................................43 Section 4.10 Assignments..................................................................................43 Section 4.11 Liability of the Lenders.....................................................................44 Section 4.12
General Financing Provisions. Section 4.1 Conditions Precedent to Credit Facility Closing and Addition of Eligible Projects The following requirements, along with the applicable requirements set forth in Section 4.2, Section 4.3 or Section 4.4, shall be conditions precedent to the Credit Facility Closing or to the addition of an Eligible Project to the Borrowing Base (a "Facility Closing"):
(a) The Notes, this Agreement, the Guaranty, or the assignments of any applicable Assigned Notes and the related Note Collateral (the "Synthetic Lease Assignment"), the other Security Documents and the other Financing Documents in connection with the Loan shall have been properly executed and delivered to the Agent. Any applicable Deeds of Trust or Synthetic Lease Assignments shall have been acknowledged and recorded in the appropriate
General Financing Provisions. 27 2.3.1 Borrowers' Representatives. 27 2.3.2 Computation of Interest and Fees. 29 2.3.3 Commitment Fee. 29 2.3.4 Extension Fee. 29 2.3.5 Payments. 29 2.3.6 Liens; Setoff. 29 2.3.7
General Financing Provisions. 44
2.4.1 Communications and Inter-Company Advances. 44 2.4.2 Use of Proceeds of the Loan. 44 2.4.3 Field Examination Fees. 44 2.4.4 Computation of Interest and Fees. 45 2.4.5 Payments. 45 2.4.6 Liens; Setoff. 45 2.4.7
General Financing Provisions. 46 2.7.1 Consideration; Obligors' Representative. 46
General Financing Provisions. 37 Section 4.1 Conditions Precedent to Credit Facility Closing and Addition of Deeds of Trust.....................37 Section 4.2 Conditions Precedent to Determining Availability Under Borrowing Base..............................41