Common use of Cost Reduction Clause in Contracts

Cost Reduction. If the total cost of the Investment at completion by the final date specified in the Technical Description falls below the figure stated in Recital (A) so that the amount of the Credit exceeds 50% (fifty per cent.) of such total cost, the Bank may forthwith, by notice to the Borrower, cancel the undisbursed portion of the Credit and/or demand prepayment of the Loan Outstanding up to the amount by which the Credit exceeds 50% (fifty per cent.) of the total cost of the Investment.

Appears in 5 contracts

Sources: Finance Contract (Brenmiller Energy Ltd.), Finance Contract, Finance Contract (Immunic, Inc.)

Cost Reduction. If the total cost of the Investment at completion by the final date specified in the Technical Description falls below the figure stated in Recital (A) so that the amount of the Credit exceeds 50% (fifty per cent.) of such total cost, the Bank may forthwith, by notice to the Borrower, cancel the undisbursed portion of the Credit and/or demand prepayment of the Loan Outstanding up to the amount by which the Credit exceeds 50% (fifty per cent.) of the total cost of the Investment.

Appears in 2 contracts

Sources: Finance Contract (Nanobiotix S.A.), Finance Contract (Nanobiotix S.A.)

Cost Reduction. If the total cost of the Investment at completion by the final date specified in the Technical Description falls below the figure stated in Recital (A) so that the amount of the Credit exceeds 50% (fifty per cent.) of such total cost, the Bank may forthwith, by notice to the Borrower, cancel the undisbursed portion of the Credit and/or demand prepayment of the Loan Outstanding up to the amount by which the Credit exceeds 50% (fifty per cent.) of the total cost of the Investment.. \\1076678 ▇▇▇▇-▇▇▇▇-▇▇▇▇ v7 Hogan Lovells

Appears in 1 contract

Sources: Amendment Agreement (Nanobiotix S.A.)

Cost Reduction. If the total cost of the Investment at completion by the final date specified in the Technical Description falls below the figure stated in Recital (A) 0 so that the amount of the Credit exceeds 50% (fifty per cent.) of such total cost, the Bank may forthwith, by notice to the Borrower, cancel the undisbursed portion of the Credit and/or demand prepayment of the Loan Outstanding up to the amount by which the Credit exceeds 50% (fifty per cent.) of the total cost of the Investment.

Appears in 1 contract

Sources: Finance Contract (Evotec SE)