Base Equity Account Sample Clauses

Base Equity Account. (a) On the Financial Closing Date, the Borrower shall deposit in the Collateral Account, and the Collateral Agent shall transfer from the Collateral Account to the Base Equity Account, all Base Equity that has not previously been invested in the Project and approved and valued by DOE. (b) Prior to the Physical Completion Date, all monies on deposit in the Base Equity Account shall be applied to Equity Advances in accordance with, and in the amounts determined under, Sections 2.1(b) and 2.4.2 of the Common Agreement. (c) From and after the Physical Completion Date, at the request of the Borrower, provided that no Potential Default or Event of Default shall then exist, the Collateral Agent shall cause any monies on deposit in the Base Equity Account to be disbursed to the Borrower for distribution to the Equity Owners of the Borrower without regard to the limitations set forth in Section 7.10 of the Common Agreement (except for Section 7.10(a)(ii) thereof). The Collateral Agent shall cause such amounts to be deposited in the account specified by the Borrower in the notice referred to in the preceding sentence within two (2) Business Days after receipt of such notice.