Evidence of Project Costs Sample Clauses

Evidence of Project Costs. If requested by the Administrative Agent, the Administrative Agent and the Independent Engineer shall have received (i) a copy of all monthly invoices issued under any Construction Contract and invoices and related documentation in connection with any other Project Costs which the Borrower intends to pay with such Term Loan and (ii) projections of invoices expected to be received (A) in respect of all Term Loan Borrowings except the Final Term Loan Borrowing, within forty-five (45) days after the date of the applicable Loan Borrowing Certificate or (B) in respect of the Final Term Loan Borrowing, within the period from the date of the applicable Loan Borrowing Certificate until Final Completion under any Construction Contract and projections, invoices and related documentation in connection with any other Project Costs which the Borrower intends to pay with such Term Loan, in each case not less than five (5) Business Days prior to the date of the Notice of Borrowing, as applicable, as evidence of the Project Costs related to the applicable Loan Borrowing Certificate; provided, that the Borrower shall (x) submit evidence, satisfactory to the Administrative Agent and certified by the Independent Engineer, demonstrating that all amounts borrowed pursuant to the preceding Loan Borrowing Certificate were used to pay Project Costs, (y) certify that Term Loan Borrowings made pursuant to the preceding Loan Borrowing Certificate, as applicable, and all equity not yet expended as previously projected shall be expended during the next forty-five (45) days, as certified by the Independent Engineer or (z) reduce the amount of the Term Loans requested pursuant to the current Notice of Borrowing, as applicable, in an amount equal to the Term Loan proceeds and equity not previously expended and not contemplated to be spent pursuant to clause (y) above; provided, that in no event shall the Borrowing be reduced below $1,000,000.
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Evidence of Project Costs. (i) Except in relation to an initial borrowing made within one month of the Closing Date, at least fifteen (15) days prior to such Construction Loan, the Administrative Agent and the Independent Engineer shall have received a Construction Progress Report, together with a statement of the payments to be made pursuant to the Backhaul Agreements and/or to the Contractor pursuant to the Construction Contract with the proceeds of such Construction Loans, together with other documentation reasonably requested by and satisfactory to the Administrative Agent and with respect to all other items of Project Costs to be paid or advanced with the proceeds of such Construction Loans. (ii) Each Construction Progress Report delivered pursuant to Section 4.2(b) may provide for an additional amount for payments required to be made prior to the next Borrowing Date but which are not specified in such Construction Progress Report in an amount not to exceed $5,000,000 per calendar month plus any payments of value added taxes which are expected to become payable prior to the next Borrowing Date and $15,000,000 in the aggregate plus any payments of value added taxes which are expected to become payable prior to the next Borrowing Date at any time (the "ADDITIONAL BORROWING AMOUNT") which amounts shall be placed into the Current Account; PROVIDED, HOWEVER, that the immediately succeeding Construction Progress Report shall specify in reasonable detail to what payments the Additional Borrowing Amount has been applied.
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Evidence of Project Costs. At least fifteen (15) days prior to such Equity Withdrawal, the Administrative Agent and the Independent Engineer shall have received a Construction Progress Report, together with a statement of the payments to be made pursuant to the Backhaul Agreements and/or to the Contractor pursuant to the Construction Contract with the proceeds of such Equity Withdrawal, together with other documentation reasonably requested by and satisfactory to the Administrative Agent and with respect to all other items of Project Costs to be paid or advanced with the proceeds of such Equity Withdrawal.
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Evidence of Project Costs. The Administrative Agent and the Independent Engineer shall have received (i) a copy of all invoices and related documentation issued under the EPC Contract (or other invoices and supporting documentation in connection with the payment of any other Project Costs) which the Borrower intends to pay with such Loan, (ii) projections of invoices expected to be received (A) in respect of all Borrowings except the final Borrowing, within forty-five (45) days after the date of the applicable Borrowing Certificate or (B) in respect of the final Borrowing, within the period from the date of the applicable Borrowing Certificate until the Project Completion Date, in connection with Project Costs which the Borrower intends to pay with such Loan, in each case not less than five
Sample 1
Evidence of Project Costs. Furnish to the Administrative Agent and the Technical and Environmental Consultant, within thirty (30) days after the end of each fiscal quarter of the Borrower (for purposes of this Section, “Applicable Quarter”), a certificate dated as of such date certifying and attaching the following: (i) (A) evidence demonstrating that all amounts borrowed pursuant to the Advances made during such Applicable Quarter were used to pay Project Costs, including a copy of all invoices paid excluding amounts related to interest payments from the proceeds of each Advance made during such Applicable Quarter and related documentation in connection with any other Project Costs which the Borrower paid with such Advance, each to the extent that the related Project Cost was in individually in excess of Two Million Dollars ($2,000,000), (B) certification that Advances made during to the Applicable Quarter and all capital contributions not yet expended as previously projected shall be expended during the next thirty (30) days, or (C) in the event that (B) cannot be satisfied, reduce the amount of the Advance immediately following such certification in an amount equal to the amounts not previously expended and not contemplated to be spent pursuant to clause (B) above; provided that in no event shall the Borrowing be reduced below $1,000,000.
Sample 1

Related to Evidence of Project Costs

  • Project Costs Simultaneously with the execution of this Agreement, the Company shall disclose to the Department all of the Project Costs which the Company seeks to include for purposes of determining the limitation of the amount of the Credit pursuant to Section 5-30 of the Act and provide to the Department a Schedule of Project Costs in the form as attached hereto as Exhibit C.

  • Existence; Maintenance of Properties The Obligors will do or cause to be done all things necessary to preserve and keep in full force and effect its existence as corporations under the jurisdiction of their incorporation. The Obligors will do or cause to be done all things necessary to preserve and keep in full force all of its rights and franchises and those of their Subsidiaries, except for the Inactive Subsidiaries. The Obligors, except with respect to the Inactive Subsidiaries (i) will cause all of its properties and those of their Subsidiaries used or useful in the conduct of its business or the business of their Subsidiaries to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment, (ii) will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the Obligors may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times, and (iii) except as provided below, will, and will cause each of its Subsidiaries to, continue to engage primarily in the businesses now conducted by them and in related businesses. The Obligors (i) shall not make any loans or advances to, or transfer any assets to, any Inactive Subsidiary, nor allow any Inactive Subsidiary to engage in any business activity, other than such activity which may be required in connection with the dissolution and/or deregistration of such Inactive Subsidiary, and (ii) shall dissolve all Inactive Subsidiaries, which are Domestic Subsidiaries, on or before ninety (90) days from the date hereof, and shall endeavor in good faith and use its reasonable efforts to dissolve or deregister all Inactive Subsidiaries, which are not Domestic Subsidiaries as soon as possible, but in no event, not later than one (1) year from the date hereof. In the event that any Inactive Subsidiary has not been dissolved or deregistered in accordance with the provisions of the preceding sentence, the parent of such Inactive Subsidiary shall execute and deliver to the Agent, within thirty (30) days of the Agent's request, a stock pledge, in form and substance reasonably satisfactory to the Agent, to pledge the stock of such Inactive Subsidiary to the Agent for the ratable benefit of the Lenders and such other documents, instruments and agreements which the Agent may reasonably require in connection therewith.

  • Maintenance of Properties; Insurance The Borrower will, and will cause each of its Subsidiaries to, (a) keep and maintain all property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, and (b) maintain, with financially sound and reputable insurance companies, insurance in such amounts and against such risks as are customarily maintained by companies engaged in the same or similar businesses operating in the same or similar locations.

  • Maintenance of Property; Insurance (a) Keep all property useful and necessary in its business in good working order and condition, ordinary wear and tear excepted and (b) maintain with financially sound and reputable insurance companies insurance on all its property in at least such amounts and against at least such risks (but including in any event public liability, product liability and business interruption) as are usually insured against in the same general area by companies engaged in the same or a similar business.

  • Operation and Maintenance of Properties The Borrower will, and will cause each of its Subsidiaries to: (a) operate its Oil and Gas Properties and other material Properties or cause such Oil and Gas Properties and other material Properties to be operated in a careful and efficient manner in accordance with the practices of the industry and in compliance with all applicable contracts and agreements and in compliance with all Governmental Requirements, including, without limitation, applicable proration requirements and Environmental Laws, and all applicable laws, rules and regulations of every other Governmental Authority from time to time constituted to regulate the development and operation of its Oil and Gas Properties and the production and sale of Hydrocarbons and other minerals therefrom, except, in each case, where the failure to comply could not reasonably be expected to have a Material Adverse Effect. (b) keep and maintain all Property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted preserve, maintain and keep in good repair, working order and efficiency (ordinary wear and tear excepted) all of its material Oil and Gas Properties and other material Properties, including, without limitation, all material equipment, machinery and facilities. (c) promptly pay and discharge, or make reasonable and customary efforts to cause to be paid and discharged, all delay rentals, royalties, expenses and indebtedness accruing under the leases or other agreements affecting or pertaining to its Oil and Gas Properties and will do all other things necessary to keep unimpaired their rights with respect thereto and prevent any forfeiture thereof or default thereunder. (d) promptly perform or make reasonable and customary efforts to cause to be performed, in accordance with industry standards and in all material respects, the obligations required by each and all of the assignments, deeds, leases, sub-leases, contracts and agreements affecting its interests in its Oil and Gas Properties and other material Properties. (e) to the extent the Borrower or one of its Subsidiaries is not the operator of any Property, the Borrower shall use reasonable efforts to cause the operator to comply with this Section 8.06.

  • Maintenance of Properties (a) Maintain, preserve and protect all of its material properties and equipment necessary in the operation of its business in good working order and condition, ordinary wear and tear excepted; (b) make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) use the standard of care typical in the industry in the operation and maintenance of its facilities.

  • Amendment costs If (a) the Borrower requests an amendment, waiver or consent or (b) an amendment is required pursuant to Clause 27.9 (Change of currency), the Borrower shall, within three Business Days of demand, reimburse the Agent for the amount of all costs and expenses (including legal fees) reasonably incurred by the Agent in responding to, evaluating, negotiating or complying with that request or requirement.

  • Construction Costs Under no circumstances shall the Consultant be liable for extra costs or other consequences due to unknown conditions or related to the failure of contractors to perform work in accordance with the plans and specifications. Consultant shall have no liability whatsoever for any costs arising out of the Client’s decision to obtain bids or proceed with construction before the Consultant has issued final, fully-approved plans and specifications. The Client acknowledges that all preliminary plans are subject to substantial revision until plans are fully approved and all permits obtained.

  • Maintenance of Properties, Etc Maintain and preserve, and cause each of its Subsidiaries to maintain and preserve, all of its properties that are used or useful in the conduct of its business in good working order and condition, ordinary wear and tear excepted.

  • Maintenance of Hazard Insurance; Property Protection Expenses (a) The Master Servicer shall cause to be maintained for each Home Equity Loan hazard insurance naming the Master Servicer or related Subservicer as loss payee thereunder providing extended coverage in an amount which is at least equal to the lesser of (i) the maximum insurable value of the improvements securing such Home Equity Loan from time to time or (ii) the combined Loan Balance owing on such Home Equity Loan and any mortgage loan senior to such Home Equity Loan from time to time; provided, however, that such coverage may not be less than the minimum amount required to fully compensate for any loss or damage on a replacement cost basis. The Master Servicer shall also cause to be maintained on property acquired upon foreclosure, or deed in lieu of foreclosure, of any Home Equity Loan, fire insurance with extended coverage in an amount which is at least equal to the amount necessary to avoid the application of any co-insurance clause contained in the related hazard insurance policy. Amounts collected by the Master Servicer under any such policies (other than amounts to be applied to the restoration or repair of the related Mortgaged Property or property thus acquired or amounts released to the Mortgagor in accordance with the Master Servicer's normal servicing procedures) shall be deposited in the Custodial Account to the extent called for by Section 3.02. In cases in which any Mortgaged Property is located at any time during the life of a Home Equity Loan in a federally designated flood area, the hazard insurance to be maintained for the related Home Equity Loan shall include flood insurance (to the extent available). All such flood insurance shall be in amounts equal to the lesser of (i) the amount required to compensate for any loss or damage to the Mortgaged Property on a replacement cost basis and (ii) the maximum amount of such insurance available for the related Mortgaged Property under the national flood insurance program (assuming that the area in which such Mortgaged Property is located is participating in such program). The Master Servicer shall be under no obligation to require that any Mortgagor maintain earthquake or other additional insurance and shall be under no obligation itself to maintain any such additional insurance on property acquired in respect of a Home Equity Loan, other than pursuant to such applicable laws and regulations as shall at any time be in force and as shall require such additional insurance. If the Master Servicer shall obtain and maintain a blanket policy consistent with its general mortgage servicing activities insuring against hazard losses on all of the Home Equity Loans, it shall conclusively be deemed to have satisfied its obligations as set forth in the first sentence of this Section 3.04, it being understood and agreed that such policy may contain a deductible clause, in which case the Master Servicer shall, in the event that there shall not have been maintained on the related Mortgaged Property a policy complying with the first sentence of this Section 3.04 and there shall have been a loss which would have been covered by such policy, deposit in the Custodial Account the amount not otherwise payable under the blanket policy because of such deductible clause. Any such deposit by the Master Servicer shall be made on the last Business Day of the Collection Period in the month in which payments under any such policy would have been deposited in the Custodial Account. In connection with its activities as servicer of the Home Equity Loans, the Master Servicer agrees to present, on behalf of itself, the Issuer and the Indenture Trustee, claims under any such blanket policy.

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