Common use of Accelerated Equity Contributions Clause in Contracts

Accelerated Equity Contributions. (a) Promptly upon delivery by the Loan Servicer to the Equity Contributors at any time prior to the Operational Completion Date of a notice in the form of Exhibit A hereto demanding an Accelerated Equity Contribution pursuant to Section 8.2(f) of the Common Agreement, without further notice of default, presentment or demand for payment, protest or notice of non-payment or dishonor, or other notices or demands of any kind, all such notices and demands being waived, and without limiting the Sponsor’s obligations under Section 2.2.1, but subject to each Equity Contributor’s maximum Individual Base Equity Commitment Balance (as the same may have been reduced on account of prior Base Equity Contributions), each Equity Contributor shall, on the date specified therefor, deposit into the Equity Funding Account an amount of cash equal to the excess, if any, of (x) its Base Equity Percentage of such Aggregate Base Equity Amount over (y) the amount of Base Equity Contributions made by such Equity Contributor prior to the date of the Accelerated Equity Contribution. (b) The right of the Loan Servicer to demand an Accelerated Equity Contribution (including from BrightSource Ivanpah pursuant to Section 7.3.3) shall not limit any other right or remedy of DOE, the Loan Servicer or any other Credit Party under any Loan Document or the Governmental Rules, nor shall any Credit Party be obligated to pursue any right or remedy or proceed against, or elect or exhaust any remedies with respect to, any other Person or any Collateral Security. Each Equity Contributor hereby irrevocably waives any defense of a guarantor or surety to which such Equity Contributor might be entitled under any Governmental Rules with respect to any Accelerated Equity Contribution.