Additional Project Debt Sample Clauses

Additional Project Debt. Other than the permanent mortgage encumbering the Project, if any, without the prior written consent of Grantee, no other indebtedness of the Applicant or the Project may have a lien priority senior to that of the Loan; no other indebtedness of the Applicant or any other person or entity may be secured by the Project; and, other than Operating Expenses, no indebtedness of the Applicant (whether secured or unsecured) may be payable except from Surplus Cash distributed to Applicant. (f)
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Additional Project Debt. The first paragraph of Section 5.06(c) of the Original Agreement is amended in its entirety to read as follows: “The issuance of Senior Project Debt (other than the Series 2010 Project Debt, the Series 2011 Project Debt as provided in Section 5.06(a), the Additional Senior Project Debt as provided in this Section 5.06(c) and Refunding Bonds under the circumstances described in Section 5.06(b)) is not permitted. Additional Senior Project Debt in one or more series bearing interest at a fixed rate and with a final maturity no longer than 2 years after the final maturity of the 2010 Senior Project Debt, but in no event longer than 40 years after the execution of the Original Agreement, may be issued by the Borrower at one time or from time to time but only to finance the costs relating to the Project Capacity Improvements in principal amounts that will produce net proceeds in an aggregate amount not to exceed $53,302,298, plus an amount sufficient to pay the costs of issuance of such Additional Senior Project Debt (the “Aggregate Maximum Principal Amount”); provided that prior to the issuance of such Additional Senior Project Debt Borrower shall first use funds on deposit in the Construction Fund, the Capital Expenditures Reserve Fund, and the General Fund, in that order of priority, to pay such costs of the Project Capacity Improvements. If the Borrower issues Additional Senior Project Debt to pay for the Project Capacity Improvements, the Borrower shall not be entitled to obtain advances under the Toll Equity Loan Commitment to also pay for the cost of the Project Capacity Improvements if the principal amount of the Additional Senior Project Debt and the amount of such advance would exceed $53,302,298.”
Sample 1
Additional Project Debt. Other than the senior mortgage encumbering the Project, if any, without the prior written consent of LHC, no other indebtedness of the Applicant or the Project may have a lien priority senior to that of the Gap Financing Loan; no other indebtedness of the Applicant or any other person or entity may be secured by the Project; and no other unsecured indebtedness of the Applicant (excluding operating expenses for the Project incurred in the ordinary course of business) may be payable except from the Applicant’s share of Surplus Cash.
Sample 1

Related to Additional Project Debt

  • Overall Project Schedule The Construction Progress Schedule that is approved by the Owner.

  • Construction Progress Schedule; Overall Project Schedule The Contractor shall submit for review by the Design Professional and approval by the Owner a Construction Progress Schedule based upon the Design Professional’s Preliminary Design and Construction Schedule and prepared using a CPM (Critical Path Method) process within sixty days after the Effective Date of the Contract, utilizing a full-featured software package in a form satisfactory to the Design Professional and Owner, showing the dates for commencement and completion of the Work required by the Contract Documents, including coordination of mechanical, plumbing, and electrical disciplines, as well as coordination of the various subdivisions of the Work within the Contract. Milestones must be clearly indicated and sequentially organized to identify the critical path of the Project. The Construction Schedule will be developed to represent the CSI specification divisions. It shall have the minimum number of activities required to adequately represent to the Owner the complete scope of Work and define the Project’s (and each Phase’s if phased) critical path and associated activities. The format of the Construction Progress Schedule will have dependencies indicated on a monthly grid identifying milestone dates such as construction start, phase construction, structural top out, dry-in, rough-in completion, metal stud and drywall completion, equipment installation, systems operational, inspections for Material Completion and Occupancy Date, and Final Completion Date. The Contractor shall submit, along with the Construction Progress Schedule, the Submittal Schedule for approval by the Design Professional, correlating the associated approval dates for the documents with the Construction Progress Schedule. Upon recommendation by the Design Professional and approval by the Owner, the Construction Progress Schedule shall become the Overall Project Schedule, which shall be utilized by the Design Professional, Owner and Contractor. The Contractor must provide the Design Professional and the Owner with monthly updates of the Overall Project Schedule indicating completed activities and any changes in sequencing or activity durations, including approved change orders. See also Article 3.3.5.

  • Additional Facilities If the CAISO determines that it requires Operational Control over additional transmission lines and associated facilities not then constituting part of the CAISO Controlled Grid in order to fulfill its responsibilities in relation to the CAISO Controlled Grid then the CAISO shall apply to FERC pursuant to Section 203 of the Federal Power Act, and shall make all other regulatory filings necessary to obtain approval for such change of control and shall serve a copy of all such applications on the affected Participating TO and the owner of such lines and facilities (if other than the Participating TO). In the event that a Party invokes the dispute resolution provisions identified in Section 15 with respect to the transfer of Operational Control over a facility, such facility shall not be transferred while the dispute resolution process is pending except pursuant to Section 4.5.2.

  • Project Costs Simultaneously with the execution of this Agreement, the Company shall disclose to the Department all of the Project Costs which the Company seeks to include for purposes of determining the limitation of the amount of the Credit pursuant to Section 5-30 of the Act and provide to the Department a Schedule of Project Costs in the form as attached hereto as Exhibit C.

  • Project Construction Budget The project construction cost allowance specifically stated in writing as the ‘revised’ or ‘current’ ‘Project Construction Budget’ by the Trustees at each applicable phase of plan development.

  • Payment of Project Costs The Grantee agrees that it will provide for payment of its full share of Project costs and that all costs connected with the Project will be paid by the Grantee on a timely basis.

  • Additional Work If changes in the work seem merited by Consultant or the City, and informal consultations with the other party indicate that a change is warranted, it shall be processed in the following manner: a letter outlining the changes shall be forwarded to the City by Consultant with a statement of estimated changes in fee or time schedule. An amendment to this Agreement shall be prepared by the City and executed by both Parties before performance of such services, or the City will not be required to pay for the changes in the scope of work. Such amendment shall not render ineffective or invalidate unaffected portions of this Agreement.

  • Additional Indebtedness This Indenture does not restrict the Corporation from incurring additional indebtedness for borrowed money or other obligations or liabilities (including Senior Indebtedness) or mortgaging, pledging or charging its properties to secure any indebtedness or obligations or liabilities.

  • Sub-projects 1. The Participating Bank shall make Sub-loans to Beneficiaries and appraise, review, approve, and supervise Sub-projects in accordance with the criteria, conditions and procedures set forth in the Operations Manual, including, inter alia, the following eligibility criteria:

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