Common use of Economic Reinstatement Test During Construction Clause in Contracts

Economic Reinstatement Test During Construction. If prior to the Service Commencement Date the Facility suffers damage or destruction that is likely to cost more than $5 million, Index Linked, to repair, replace and restore, and on the forecast Service Commencement Date following such reinstatement there would be a breach of the Senior Loan Life Cover Ratio test contained in Section 8.39(a) of the Senior Financing Agreements, Project Co may, by notice to the Authority, terminate this Agreement in which case the Authority will pay compensation to Project Co in accordance with Section 5 [No-Fault Termination] of Schedule 9 [Compensation on Termination].

Economic Reinstatement Test During Construction. ‌ If prior to the Service Commencement Date the Facility Building or Buildings suffers damage or destruction that is likely to cost more than $5 million, (Index Linked), to repair, replace and restore, and on the forecast Service Commencement Date following such reinstatement there would be a breach of the Senior Loan Life Cover Ratio LLCR test contained in Section 8.39(a11.1(r) of the credit agreement forming part of the Senior Financing Agreements, Project Co may, by notice to the Authority, terminate this Agreement in which case the Authority will pay compensation to Project Co in accordance with Section 5 [No-Fault Termination] of Schedule 9 [Compensation on Termination].

Economic Reinstatement Test During Construction. If prior to the Service Commencement Date the Facility suffers damage or destruction that is likely to cost more than $5 million5,000,000, (Index Linked), to repair, replace and restore, and on the forecast Service Commencement Date following such reinstatement there would be a breach of the Senior Loan Life Cover Ratio test contained in Section 8.39(a12.1(t) of the Senior Financing AgreementsNote Indenture, Project Co may, by notice to the AuthorityProvince, terminate this Agreement in which case the Authority Province will pay compensation to Project Co in accordance with Section 5 4 [No-Fault Termination] of Schedule 9 [Compensation on Termination].

Economic Reinstatement Test During Construction. If prior to the Service Commencement Date the Facility suffers damage or destruction that is likely to cost more than $5 million, million (Index Linked, ) to repair, replace and restore, and on the forecast Service Commencement Date following such reinstatement there would be a breach of the Senior Loan Life Cover Ratio test contained in Section 8.39(a12.1(t) of the Senior Financing AgreementsNote Indenture, Project Co may, by notice to the Authority, terminate this Agreement in which case the Authority will pay compensation to Project Co in accordance with Section 5 [No-Fault Termination] 4 of Schedule 9 [Compensation on Termination].

Economic Reinstatement Test During Construction. If prior to the Service Commencement Date the Facility suffers damage or destruction that is likely to cost more than $5 million, Index Linked, to repair, replace and restore, and on the forecast Service Commencement Date following such reinstatement there would be a breach of the Senior Loan Life Cover Ratio test contained in Section 8.39(a15.1(28) of the Senior Financing Agreements, Project Co may, by notice to the Authority, terminate this Agreement in which case the Authority will pay compensation to Project Co in accordance with Section 5 [No-Fault Termination] of Schedule 9 [Compensation on Termination].