Construction Budget; Operating Forecasts and Base Case Projections Clause Samples

Construction Budget; Operating Forecasts and Base Case Projections. (a) The Construction Budget, the Operating Forecast (to the extent delivered), the Operating Plan (to the extent delivered) and the Base Case Projections, as amended or supplemented by Approved Construction Changes or otherwise in accordance with this Loan Guarantee Agreement, (i) are complete and based on reasonable assumptions, (ii) are consistent with the provisions of the Project Documents, (iii) have been prepared in good faith and with due care, and (iv) fairly represent the Borrower's expectation as to the matters covered thereby as of the date of the representation. (b) The Construction Budget, as amended or supplemented by Approved Construction Changes or otherwise in accordance with this Loan Guarantee Agreement, represents the Borrower's best estimate of all costs and expenses anticipated by the Borrower to be incurred to construct the Project in the manner contemplated by the Transaction Documents. (c) The Borrower's good faith estimate and belief as of the Financial Closing Date and the Initial Advance Date is that (i) Physical Completion and Operational Completion will occur no later than the Anticipated Completion Date, (ii) Total Project Costs will not exceed Base Project Costs, and (iii) each of Total Project Costs, Base Project Costs, Eligible Base Project Costs and Ineligible Base Project Costs will not exceed the respective amounts therefor set forth in the Financial Plan. Nothing has occurred to cause the Borrower to believe that the Base Case Projections, as amended or supplemented by Approved Construction Changes, are unreasonable in any material respect.