The Financing Sample Clauses
The Financing clause defines the terms and conditions under which funds will be provided for a particular transaction or project. It typically outlines the amount of financing, the source of funds, repayment schedules, interest rates, and any conditions precedent to the disbursement of funds. For example, it may specify that a lender will provide a loan upon the borrower meeting certain milestones or delivering specific documentation. The core function of this clause is to ensure both parties have a clear understanding of how the financial aspects of the agreement will be managed, thereby reducing uncertainty and allocating financial risk.
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The Financing. Section 2.01. The Association agrees to make available to the Borrower, on the terms and conditions set forth or referred to in this Agreement:
(a) an amount in various currencies equivalent to thirty million two hundred thousand Special Drawing Rights (SDR 30,200,000) (the Credit); and
(b) an amount in various currencies equivalent to twenty million one hundred thousand Special Drawing Rights (SDR 20,100,000) (the Grant).
(a) The amount of the Credit may be withdrawn from the Credit Account and the amount of the Grant may be withdrawn from the Grant Account, in accordance with the provisions of Schedule 1 to this Agreement, for expenditures made (or, if the Association shall so agree, to be made) in respect of the reasonable cost of goods, works, services, and Cash Grants required for the Project and to be financed out of the proceeds of the Financing.
Section 2.03. The Closing Date shall be September 30, 2008, or such later date as the Association shall establish. The Association shall promptly notify the Borrower of such later date.
(a) The Borrower shall pay to the Association: (i) a commitment charge on the principal amount of the Credit not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, such rate not to exceed the rate of one-half of one percent (1/2 of 1%) per annum; and (ii) a commitment charge on the principal amount of the Grant not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, such rate not to exceed the rate of one-half of one percent (1/2 of 1%) per annum.
(b) Each commitment charge shall accrue: (i) from the date sixty (60) days after the date of this Agreement (the accrual date) to the respective dates on which amounts shall be withdrawn by the Borrower from the Credit Account or the Grant Account (as the case may be), or canceled; and (ii) at the respective rate set as of the June 30 immediately preceding the accrual date and at such other rates as may be set from time to time thereafter pursuant to paragraph (a) above. The respective rate set as of June 30 in each year shall be applied from the next date in that year specified in Section 2.06 of this Agreement.
(c) Each commitment charge shall be paid: (i) at such places as the Association shall reasonably request; (ii) without restrictions of any kind imposed by, or in the territory of, the Borrower; and (iii) in the currency specified in this Agreement for the purposes of Section 4.02 of the ...
The Financing. Section 2.01. The Association agrees to make available to the Borrower, on the terms and conditions set forth or referred to in this Agreement:
(a) an amount in various currencies equivalent to four million nine hundred thousand Special Drawing Rights (SDR 4,900,000) (the Credit); and
(b) an amount in various currencies equivalent to five million eight hundred thousand Special Drawing Rights (SDR 5,800,000) (the Grant).
(a) The amount of the Credit may be withdrawn from the Credit Account and the amount of the Grant may be withdrawn from the Grant Account, in each case, in accordance with the provisions of Schedule 1 to this Agreement for expenditures made (or, if the Association shall so agree, to be made) in respect of the reasonable cost of goods and services required for the Project and to be financed out of the proceeds of the Financing.
(b) The Borrower shall open and maintain in Taka, three separate special deposit accounts, for Power Cell (Power Cell Special Account), for ERC (ERC Special Account), and for Petrobangla (Petrobangla Special Account), all in a commercial bank, on terms and conditions satisfactory to the Association, including appropriate protection against set-off, seizure and attachment. Deposits into, and payments out of, each Special Account shall be made in accordance with the provisions of Schedule 5 to this Agreement.
Section 2.03. The Closing Date shall be December 31, 2008 or such later date as the Association shall establish. The Association shall promptly notify the Borrower of such later date.
(a) The Borrower shall pay to the Association (i) a commitment charge on the principal amount of the Credit not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, but not to exceed the rate of one-half of one percent (1/2 of 1%) per annum; and (ii) a commitment charge on the amount of the Grant not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, such rate not to exceed the rate of one-half of one percent (1/2 of 1%) per annum.
(b) The commitment charge shall accrue: (i) from the date sixty days after the date of this Agreement (the accrual date) to the respective dates on which amounts shall be withdrawn by the Borrower from the Credit Account or the Grant Account (as the case may be), or canceled; and (ii) at the rate set as of the June 30 immediately preceding the accrual date and at such other rates as may be set from time to time thereafter ...
The Financing. (a) Grey Wolf will use its commercially reasonable efforts to arrange and obtain the Financing on the terms and conditions described in the Commitment Letter. Each of Grey Wolf and Basic will use its commercially reasonable efforts (i) to enter into and to cause Holdings and each of the Subsidiaries of Grey Wolf or Basic, as the case may be, to enter into definitive agreements with respect to the Financing on the terms and conditions reflected in the Commitment Letter; (ii) to satisfy on a timely basis all conditions applicable to it and to Holdings in such definitive agreements no later than the Closing; and (iii) to consummate the Financing no later than the Closing. If any Party becomes aware that the Financing is not available to consummate the transactions contemplated by this Agreement, then that Party shall promptly notify each of the other Parties, and each Party shall use its commercially reasonable efforts to obtain, and each of the other Parties shall use commercially reasonable efforts to assist the other Parties in obtaining, alternative financing on terms (taken in the aggregate) that are no less favorable to Holdings than those set forth in the Commitment Letter and in an amount (when added to cash of Basic and Grey Wolf forecast to be on hand immediately prior to the Mergers) that is adequate to pay the Basic Cash Consideration and the Grey Wolf Cash Consideration and all fees and expenses associated with the transactions contemplated by this Agreement, to make any other payments necessary to consummate the transactions contemplated by this Agreement (the "Alternative Financing”).
(b) Each Party shall provide, and shall cause its Subsidiaries and the directors, officers, employees, consultants, advisors, legal counsel, accountants and other agents of it and each of its Subsidiaries to provide, all cooperation in connection with the Parties’ efforts to obtain the Financing or the Alternative Financing as may reasonably be requested by any of the other Parties or by the Joint Lead Arrangers, including, without limitation, (i) participating on a timely basis in meetings, drafting sessions, due diligence sessions and other presentations, including presentations with potential lenders and with rating agencies; (ii) furnishing to the Joint Lead Arrangers and to each other Party as promptly as reasonably practicable all financial statements, pro forma statements, financial projections, business plans, budgets and other reasonably pertinent data an...
The Financing. Section 2.01. C-PACE Financing of Energy Efficiency or Renewable Energy Improvements; Assessment Lien 2 Section 2.02. Absolute Obligation; Evidence of Indebtedness 2 Section 2.03. Material Terms of Financing 3 Section 2.04. Security/Collateral for the C-PACE Financing 3 Section 2.05. Funding 3 Section 2.06. C-PACE Financing Payments 3 Section 2.07. Excess Funds 5 Section 3.01. Organization and Authority 5 Section 3.02. Financial Statements 5 Section 3.03. No Litigation 6 Section 3.04. Title 6 Section 3.05. Compliance With Laws 6 Section 3.06. Marijuana and Environmental Matters 6 Section 3.07. Approval of Plans and Budgets 6 Section 3.08. Compliance With Documents 7 Section 3.09. No Misrepresentation or Material Nondisclosure 7 Section 3.10. Insurance 7 Section 3.11. No Conflict 7 Section 3.12. Incorporation of Representations and Warranties 7 Section 3.13. Commercial Purpose 7
The Financing. Section 2.01. The Association agrees to make available to the Borrower, on the terms and conditions set forth or referred to in the Development Financing Agreement, the Financing consisting of: an amount in various currencies equivalent to eighteen million eight hundred thousand Special Drawing Rights (SDR 18,800,000) (the Credit); and an amount in various currencies equivalent to seven million eight hundred thousand Special Drawing Rights (SDR 7,800,000) (the Grant).
(a) Subject to the provisions of paragraphs (b) and (c) of this Section, the Borrower shall be entitled to withdraw the proceeds of the Financing from the Financing Accounts in support of the Program.
(b) Except as the Association may otherwise agree: (i) all withdrawals from the Financing Accounts shall be deposited by the Association into an account in Euros designated by the Borrower and acceptable to the Association; and (ii) the Borrower shall ensure that upon each deposit of an amount of the Financing into said account, an equivalent amount is accounted for in the Borrower’s budget management system, in a manner acceptable to the Association
(c) The Borrower undertakes that the proceeds of the Financing shall not be used to finance expenditures excluded pursuant to the provisions of Schedule 1 to this Agreement. If the Association determines at any time that an amount of the Financing was used to make a payment for an expenditure so excluded, the Borrower shall, promptly upon notice from the Association, refund an amount equal to the amount of said payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.
Section 2.03. The Closing Date shall be March 31, 2006 or such later date as the Association shall establish. The Association shall promptly notify the Borrower of such later date.
(a) The Borrower shall pay to the Association a commitment charge on the principal amount of the Financing not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, but not to exceed the rate of one-half of one percent (1/2 of 1%) per annum.
(b) The commitment charge shall accrue: (i) from the date sixty days after the date of this Agreement (the accrual date) to the respective dates on which amounts shall be withdrawn by the Borrower from the Financing Accounts or cancelled; and (ii) at the rate set as of the June 30 immediately preceding the accrual date and at such other rates as may be set from time to time thereafter pu...
The Financing. Section 2.01. The Association agrees to make available to the Borrower, on the terms and conditions set forth or referred to in this Agreement:
(a) an amount in various currencies equivalent to twelve million four hundred thousand Special Drawing Rights (SDR 12,400,000) (the Credit); and
(b) an amount in various currencies equivalent to two million three hundred thousand Special Drawing Rights (SDR 2,300,000) (the Grant).
(a) The amount of the Credit may be withdrawn from the Credit Account and the amount of the Grant may be withdrawn from the Grant Account, in each case in accordance with the provisions of Schedule 1 to this Agreement, for expenditures made (or, if the Association shall so agree, to be made) in respect of the reasonable cost of goods, works and services required for the Project and to be financed out of the proceeds of the Financing.
(b) The Borrower may, for the purposes of the Project, open and maintain in Dollars, a special deposit account, in the National Bank of Cambodia, or a commercial bank on terms and conditions satisfactory to the Association, including in the case of a commercial bank, appropriate protection against set-off, seizure or attachment: PPWSA Special Account for Part B of the Project. Deposits into, and payments out of said Special Account shall be made in accordance with the provisions of Schedule 4 to this Agreement.
Section 2.03. The Closing Date shall be June 30, 2011 or such later date as the Association shall establish. The Association shall promptly notify the Borrower of such later date.
(a) The Borrower shall pay to the Association: (i) a commitment charge on the principal amount of the Credit not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, such rate not to exceed the rate of one-half of one percent (1/2 of 1%) per annum; and (ii) a commitment charge on the principal amount of the Grant not withdrawn from time to time at a rate to be set by the Association as of June 30 of each year, such rate not to exceed the rate of one-half of one percent (1/2 of 1%) per annum.
(b) Each commitment charge shall accrue: (i) from the date sixty days after the date of this Agreement (the accrual date) to the respective dates on which amounts shall be withdrawn by the Borrower from the Credit Account or the Grant Account (as the case may be), or canceled; and (ii) at the respective rate set as of June 30 immediately preceding the accrual date and at such other rates as may be...
The Financing. (a) Following the Wireless Stockholders Meeting and consummation of the Closing on the Closing Date, Wireless shall undertake to consummate the sale of not less than $1,250,000 of convertible notes, shares of convertible Wireless Preferred Stock and/or shares of Wireless Common Stock (collectively, the "WIRELESS SECURITIES") all upon such terms and conditions as shall be determined prior to the Closing, disclosed in the Proxy Statement and otherwise reasonably acceptable to the Company Stockholders. The $1,500,000 of gross proceeds realized by Wireless and its Company subsidiary from (i) the $250,000 Financing Deposit referred to in Section 2.07 above, and (ii) the sale of the Securities is hereinafter referred to as the "FINANCING."
(b) The parties hereto shall, in good faith, undertake to consummate the Financing by a date which shall be not later than ninety (90) days following the Closing Date.
(c) The shares of Wireless Common Stock issued or issuable in connection with the Financing shall be registered for resale under the Securities Act of 1933, as amended, pursuant to an effective registration statement on Form S-1 (separate from the Proxy Statement); provided, that such registration statement shall not be filed with or declared effective by the SEC unless and until all of the Securities relating to such Financing shall have been sold and the proceeds thereof either received by Wireless or funded to an escrow account on behalf of Wireless, pending the effectiveness of such registration statement.
The Financing. Upon execution of this Agreement and compliance with its terms, including, without limitation, the conditions precedent set forth in Sections 13.1, 13.2 and 13.3 hereof, Lender agrees to make available to Borrower the Revolving Line of Credit and to make the Term Loan, in each case, on the following terms and conditions:
The Financing. Section 2.01. The Association agrees to make available to the Borrower, on the terms and conditions set forth or referred to in this Agreement:
(a) an amount in various currencies equivalent to nine million five hundred thousand Special Drawing Rights (SDR 9,500,000) (the Credit); and
(b) an amount in various currencies equivalent to five million two hundred thousand Special Drawing Rights (SDR 5,200,000) (the Grant).
Section 2.02. (a) (i) The amount of the Credit may be withdrawn from the Credit Account in accordance with the provisions of Schedule 1 to this Agreement for expenditures made (or, if the Association shall so agree, to be made) in respect of the reasonable cost of works, goods and services required for Parts C and D of the Project and to be financed out of the proceeds of the Credit; and
The Financing. On the Closing Date, the Company shall consummate the Financing and shall borrow an amount equal to the Financing Proceeds in order to consummate the Redemption.