Common use of Evidence of Project Costs Clause in Contracts

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.

Evidence of Project Costs. (i) Except in In relation to an initial borrowing made within one month of the Closing DateConstruction Loans only, at least fifteen (15) days Business Days prior to the Borrowing Date for such Construction Loan, the Administrative Administra tive 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 in respect of Project Costs with the proceeds of such Construction Loans, together with the draft Borrowing Notice and 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.