Completion Account. 23 4.9 Peaker Collateralization Account................................... 23 4.10 Major Maintenance Reserve Account.................................. 24 4.11 Corporate Services Payment Account................................. 25 4.12
Completion Account. 2.1 The Purchaser shall as soon as reasonably practicable and in any event within sixty (60) 138 days after Completion prepare or procure the preparation of accounts for the Company in accordance with the provisions of this Schedule for the period from 1 April 2006 to the Completion Accounts Date. The Vendors shall supply promptly all such information and provide access to all such records and personnel as the Purchaser shall reasonably require for this purpose.
Completion Account. Account Funds in the Completion Account shall be used only (i) to make payments for the purpose of effectuating Completion of the Rockford II Project or the Bayou Cove Project or (ii) to pay for any costs, damages or other liabilities in connection with the Bayou Cove EPC Agreement (Electric Interconnection Facility). The Issuer may request disbursements of Account Funds from the Completion Account by submitting a Disbursement Request for such purpose to the Collateral Agent (with a copy to the Depositary Agent) at least 5 Business Days prior to the proposed date of the requested disbursements specifying the disbursements to be made. Upon receipt of such Disbursement Request ,the Collateral Agent shall direct the Depositary Agent to withdraw such Account Funds from the Completion Account to make the disbursements as and when specified in such Disbursement Request (and shall provide an executed copy of such Disbursement Request to the Depositary Agent as part of such direction) so long as no Issuer Event of Default has occurred and is continuing at the time the disbursements are made. The Collateral Agent shall direct the Depositary Agent to disburse Account Funds remaining on deposit in the Completion Account following the Completion of the Rockford II Project and the Bayou Cove Project to NRG Energy or any Affiliate thereof as directed by the Issuer.
Completion Account. On a Transfer Date, the Escrow Agent shall transfer, from the cash available in the Completion Account, to the Managing General Partner, an amount, certified in a certificate of a Responsible Officer of the Managing General Partner (which shall be delivered to GEPFC and the Owner Trustee together with copies of any invoices or other evidence of any such amounts so certified) and accompanied by a certificate of such Responsible Officer to the effect that no Special Event has occurred and is continuing, as being set forth in the Completion Budget and as being equal to the excess of (i) the Partnership's estimated amounts payable for the month commencing with such Transfer Date in respect of expenses set forth in the Completion Budget, over (ii) the amount of any funds previously transferred to the Managing General Partner pursuant to this Section 4.04 that remain unspent. On the date on which the Facility shall have been completed and all expenses required to be paid by the Managing General Partner or the Partnership and set forth in the Completion Budget shall have been paid, as certified by a certificate of a Responsible Officer of the Managing General Partner and accompanied by a certificate of such Responsible Officer to the effect that no Special Event shall have occurred and be continuing, the Escrow Agent shall transfer the balance of the Completion Account to the Revenue Account; provided however that $1,000,000 or, if less, the balance of the Completion Amount shall remain in the Completion Account until (x) Exxon and the Partnership shall have executed and recorded an amendment to the Site Lease Agreement setting forth the metes and bounds description of the easement between the two parcels of the Site on which the Project is located and (y) Chicago Title Insurance Company shall have issued an endorsement to the Partnership's title insurance policy insuring such easement.
Completion Account. Section 4.04 of the Security Deposit Agreement is hereby amended by deleting clause (i) of the first sentence thereof in its entirety and substituting, in lieu thereof, the following new clause (i):
Completion Account. 9 SECTION 3.10 Loss Proceeds Account...................................... 10 SECTION 3.11
Completion Account. (a) On the Closing Date, the Capital Budget Subaccount shall be funded with monies transferred pursuant to Section 5.18(a)(iii) of the Indenture. Such monies shall be applied to the payment, or reimbursement to the extent the same have been paid or satisfied by the Company, of Project Costs in accordance with the Capital Budget.
Completion Account. The Security Agent shall pay Certified Construction Costs described in the Completion Budget on account of which amounts have been deposited in the Completion Account out of cash available in the Completion Account as such Certified Construction Costs become due and payable in the amounts and as set forth in Item 8 of the Project Certificate. Upon receipt of a certificate from the Independent Engineer, countersigned by a Responsible Officer of the Agent and the GE Capital Limited Partner, stating that the Project is complete and all items described in the Completion Budget have been completed in accordance with the Construction Contract, the Security Agent shall distribute all remaining amounts in the Completion Account directly to SECI in partial payment of the Success Fee.
Completion Account. 9 SECTION 4.2 Revenue Account--Monthly Transfers After the Lease Closing Date 10 SECTION 4.3 Revenue Account--Quarterly Transfers After the Lease Closing Date 11 SECTION 4.4 Supplemental Rent 12 SECTION 4.5 Rent Reserve Account 13 SECTION 4.6 Operation and Maintenance Reserve Account 13 SECTION 4.7 Release of Excess Amounts 14 SECTION 4.8 Special Payment Account 14 SECTION 4.9 Partnership Security Account. 14 SECTION 4.10 Distribution Reserve Account 15 SECTION 4.11 Insurance and Condemnation Proceeds Account 15 SECTION 4.12 Warranty Maintenance Reserve Account 18 SECTION 4.13 Current Account 18 SECTION 4.14 Defaults 18 SECTION 4.15 Certain Payments 19 SECTION 4.16 Interest Hedging Account 19 SECTION 4.17 Delivery of Officer's Certificates; Timing of Payments 20 SECTION 4.18 Payments under Lease 20 SECTION 4.19 LOC Fee Account 20 ARTICLE V Investment 21 SECTION 5.1 Investment 21 ARTICLE VI Security Agent 22
Completion Account. The Security Agent shall, upon receipt by it of a monthly certificate signed by an Authorized Officer of the Partnership in substantially the form of Exhibit A (and countersigned by the Independent Engineer, the Administrative Agent and the Owner Participant) instructing it to do so, apply cash available in the Completion Account to the payment of the Project Costs specified in such certificate or to such other costs or amounts or purposes as may be specified in such certificate. So long as no Lease Default or Lease Event of Default shall have occurred and be continuing, (a) on the date of final acceptance under the Construction Contract, the Security Agent shall transfer from amounts on deposit in the Completion Account to the Partnership an amount equal to 66 2/3% of the excess of (i) all funds on deposit therein and (ii) all remaining Project Costs (including amounts in respect of any remaining dispute under the Construction Contract) not yet paid (such excess at any time, the "Completion Contingency"), (b) upon the release of all liens relating to all matters listed on the Contractor's final release provided by Xxxxxx Construction Company (other than any claims relating to the XxXxxxxx dispute) the Security Agent shall transfer from amounts on deposit in the Completion Account to the Partnership an amount equal to 10% of the sum of the (i) Completion Contingency and (ii) the amounts transferred to the Partnership, if any, pursuant to clause (a) above and (c) after transfers have been made pursuant to clauses (a) and (b) above, on each date on which it receives a monthly certificate pursuant to this Section 4.1, the Security Agent shall transfer from amounts on deposit in the Completion Account to the Partnership an amount equal to the "Applicable Percentage" of the remaining Completion Contingency, all as certified by an authorized officer of the Partnership and countersigned by the Independent Engineer, the Administrative Agent and the Owner Participant. The "Applicable Percentage" as of any such date on which a monthly certificate is delivered pursuant to this Section 4.1 is a percentage equal to the ratio that the Project Costs set forth in such certificate bears to all remaining Project Costs.
