Sources of Financing Clause Samples

Sources of Financing. The Purchaser has available to it sufficient cash resources, a firm, unconditional equity commitment and/or a firm, unconditional financing commitment in an aggregate amount not less than the aggregate Cash Consideration to be paid by Purchaser pursuant to this Agreement.

Sources of Financing. The County and the Borrower anticipate that acquisition and rehabilitation shall be financed with a combination of funds; loan proceeds from the HOME Program funds provided to the Borrower in the form of the County HOME Loan and the County NSP Loan to be provided pursuant to a separate agreement between the County and the Borrower.

Sources of Financing. The Acquisition and Development Costs shall be financed with a combination of “Sources of Financing” Developer anticipates will likely include some of the following sources: federal and state Low Income Housing Tax Credits and related equity, private (bank) construction and permanent financing (which may include bond financing), Project Based Vouchers, soft loans from the San Diego Housing Commission, funding from the State of California Department of Housing and Community Development (which may include MHP and AHSC financing), Innovative Housing Trust Funds, Affordable Housing Program Funds and other gap financing sources. Developer shall use best efforts to procure the above referenced Sources of Financing or portions thereof needed to allow for a financially feasible development of the Project in accordance with the Schedule of Performance. For purposes of this Section, “best efforts” means Developer has submitted an application for each of the Sources of Financing by each of the deadlines required by (i) those respective Sources of Financing and (ii) the Schedule of Performance, and has used diligent efforts to submit applications that are complete and responsive. Developer shall not have any obligation to apply for any of the Sources of Financing until such time as Developer reasonably determines that the Project meets the threshold criteria for such financing and will be competitive in any application for such financing. In the event that the Developer is not able to obtain the Sources of Financing, despite its best efforts, or in the event the Developer reasonably determines that the Project is infeasible, despite Developer’s best efforts, Developer may terminate this Agreement pursuant to Section 508, and upon such termination, neither County nor Developer shall have any further remedies against the other for termination of this Agreement. The Sources of Financing listed here and in the Schedule of Performance may be revised from time to time by the Developer, subject to the approval of the County which will not be unreasonably withheld, conditioned, or delayed. SECTION 212 Structuring to Facilitate Financial Feasibility. Developer intends to obtain awards of 4% and/or 9% Low Income Housing Tax Credits to finance the Project. In order to implement this financing, the County will, in its reasonable discretion, make amendments and/or modifications to the DDA, including its attachments, that are reasonably necessary for such financing, including, but ...

Sources of Financing. The parties anticipate that the costs of developing and constructing the Improvements on the Property related to the Affordable Family Housing Units (the “Development Costs” or "Family Development Costs") shall be financed with a combination of loans, grants and equity, as set forth in the following chart and as described below, which chart shall be updated if the costs of developing and constructing the Improvements change, or if the financing changes, all subject to the reasonable approval of the Agency Executive Director (as updated, the “Sources of Financing” or “Family Sources of Financing”): Senior Loan $28,000,000 $3,590,682 Bridge/Gap Loan $587,386 $0 HCD ▇▇▇ Loan $0 $7,150,000 MHSA Loan $1,462,000 $1,462,000 Agency Loan $9,255,000 $9,255,000 Housing Commission Loan $500,000 $500,000 Prop 1C ▇▇▇ ▇▇▇▇▇ $3,636,109 $3,636,109 Prop 1C Infill Infrastructure Grant $7,659,715 $7,659,715 SANDAG Grant $701,238 $701,238 Ca. Pollution Control Grant $1,287,552 $1,287,552 Limited Partnership Equity $1,000,000 $20,437,626 General Partner Equity $20,438 $20,438 Deferred Interest $283,076 $283,076 Deferred Owner Fee $0 $488,818 TOTALS $54,392,5131 $56,472,254

Sources of Financing. In addition to the Senior Loan as previously obtained for the acquisition of the Site, Developer and City anticipate the following funding sources to be obtained for the Project and utilized by Developer in addition to the City Loan. The final sources and amounts of funding for the Project as well as the final cost estimates with respect to the acquisition of the Site, Construction and operation of the Proj ect shall be set forth in the Final Budget which is required to be submitted to City as a Condition Precedent pursuant to Section 401.

Sources of Financing. The parties anticipate that the costs of acquiring the Property and developing and constructing the Improvements on the Housing Parcel and Retail Parcels (the “Acquisition and Development Costs”) shall be financed with a combination of loans and Owner's equity, as set forth in the following chart and as described below: Tax Credit Assistance Program (TCAP) $10,518,309 $14,024,415 Permanent Loan $2,565,000 Construction Loan (Less Interim Repayment) $13,085,000 ($4,627,363) Agency Land Purchase $5,265,000 $5,265,000 Agency Loan $3,294,900 $3,661,000 Multifamily Housing Program $3,301,191 Mental Health Services Act Program $2,752,000 $2,752,000 Cal ReUSE Remediation Grant $94,330 $94,330 Deferred Developer Fee $1,000,000 $140,093 Income During Lease-Up $51,348 $51,824 Deferred Funding of Reserves $421,329 Agency Garage Payment $1,344,000 $1,344,000 TOTAL $33,198,853 $33,198,853 2.1 PURCHASE OF THE PROPERTY Owner shall purchase the Property from Seller in accordance with the terms and conditions of the Squier/Seller Purchase Agreement. In accordance with and subject to all the terms, covenants and conditions of the DDA, Owner agrees to sell the Property to Agency, and Agency agrees to purchase the Property from Owner, for an amount not to exceed Six million three hundred fifty eight thousand dollars ($6,358,000) (the “Agency Purchase Price”). Agency will own the Property from the First Closing until the Second Closing, at which time (and after satisfaction of all conditions precedent) Agency shall convey a Leasehold in the Leasehold Parcels to Owner, and Agency shall retain fee title to the Chapel Parcel. The allocated land cost of the Chapel Parcel is $1,093,000. After recordation of the Parcel Map and at the time set forth in the Schedule of Performance, the Ground Lease will be terminated with respect to the Agency Garage Parcel and the Leasehold Parcels will be the Housing Parcel and the Retail Parcels.

Sources of Financing. We have already received and are evaluating proposals from major lending institutions for ABL and real estate financing. Nevertheless, we and our affiliates have more than $3.5 billion of equity capital under management. Sun Capital affiliates acquire controlling interests in companies through Sun Capital's private equity fund, Sun Capital Partners IV, LP, with $1.5 billion of committed equity capital and invests in non-controlling stakes in equity, debt, and other securities of companies through its securities fund, Sun Capital Securities Fund, with more than $1.2 billion of committed equity capital. Sun Capital affiliates can invest more than $800 million of capital in any one transaction and bridge the entire purchase price. Therefore, this offer is not subject to any financing contingency. Timing & Process. Upon receipt of your acknowledgment below relating to the "Exclusivity Period," Sun Capital will immediately work towards (i) signing a definitive agreement and (ii) closing the Acquisition as quickly as possible after signing a definitive agreement. Operating Plan for ▇▇▇▇▇. While Sun Capital's affiliates have a number of retail investments, it is our intention to operate ▇▇▇▇▇ as a stand alone company and we look forward to working with management and the employees of ▇▇▇▇▇ to maximize the potential of the Company.

Sources of Financing. All investments for the acquisition will be made using the Bank’s internal funds.

Sources of Financing. 1. The import of vehicles will be financed through a credit line of up to €150 million, provided by the UCAR Group or another designated entity. 2. Battery-swapping stations intended for proprietary operation will be directly financed by the UCAR Group. 3. Vehicles will be sold with the support of local credit lines, and the payments received will be used to settle the company’s financial commitments.