Biennial True-Up. In addition to performing the Annual True-Up for each Contract Year, Lender will also perform a biennial true-up, the first to take place at the end of the second Contract Year and then every two Contract Years thereafter (the “Biennial True-Up”). Lender will (a) calculate the Actual Loan Balance at the end of the second Contract Year (after giving effect to any payment required under the Annual True-Up for the current Contract Year) and
Appears in 2 contracts
Samples: Solar Loan Agreement, Solar Loan and Security Agreement
Biennial True-Up. In addition to performing the Annual True-Up for each Contract Year, Lender Xxxxxx will also perform a biennial true-up, the first to take place at the end of the second Contract Year and then every two Contract Years thereafter (the “Biennial True-Up”). Lender will (a) calculate the Actual Loan Balance at the end of the second Contract Year (after giving effect to any payment required under the Annual True-Up for the current Contract Year) and
Appears in 2 contracts
Samples: Solar Loan Agreement, Solar Loan and Security Agreement