Base Equity; Available Equity Sample Clauses

Base Equity; Available Equity. The Loan Servicer shall have received evidence that the Base Equity Commitment (including the amounts set forth in the Development Costs Statement and certified by the Independent Engineer's audit) has been contributed in cash by Holdco or the Sponsor to the Borrower or, at the Sponsor's option, by a combination of cash contributed to the Borrower and the delivery of one or more Base Equity Letters of Credit to the Collateral Agent (provided that the maximum amount of the Base Equity Commitment that can be satisfied by delivery of Base Equity Letters of Credit shall not exceed in the aggregate the Base Equity LC Amount).