Common use of Evidence of Project Costs Clause in Contracts

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.

Evidence of Project Costs. If requested by the Administrative Agent, the Administrative The Agent and the Independent Engineer shall have received (i) a copy of all monthly invoices issued under any Construction the EPC Contract and all invoices and related documentation in connection with any other Project Costs and Operation and Maintenance Expenses which the Borrower intends to pay with such Loan and (ii) projections of invoices expected to be received within 30 days after the date of the applicable Borrowing Certificate under the EPC Contract and 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 (xA) 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 which were expended were used to pay Project CostsCosts or, in respect of any disputed amounts, deposited to the Escrow Account or retained in the Construction Account pending resolution of the dispute, (yB) certify that Term Loan Borrowings made proceeds borrowed pursuant to the preceding Loan Borrowing Certificate, as applicable, Certificate and all equity not yet expended as previously projected shall be expended during the next forty-five (45) days30 days or, in respect of any disputed amounts, deposited to the Escrow Account or retained in the Construction Account pending resolution of the dispute, as certified by the Independent Engineer or (zC) reduce the amount of the Term Loans requested pursuant to the current Notice of Borrowing, as applicable, Borrowing in an amount equal to the Term Loan proceeds and equity not previously expended or, in respect of any disputed amounts, deposited to the Escrow Account or retained in the Construction Account pending resolution of the dispute and not contemplated to be spent pursuant to clause (yB) above; provided, that in no event shall the Borrowing borrowing be reduced below $1,000,0002,000,000.

Evidence of Project Costs. If requested by the Administrative Agent, the Administrative The Agent and the Independent Engineer shall have received (i) a copy of all monthly invoices issued under any the Phase 1 EPC Contract , each Phase 2 Construction Contract and all invoices and related documentation in connection with any other Phase 1 Project Costs, Phase 2 Project Costs and Operation and Maintenance Expenses which the Borrower intends to pay with such Loan, (ii) projections of invoices expected to be received within 30 days after the date of the applicable Borrowing Certificate under the Phase 1 EPC Contract, each Phase 2 Construction Contract and any other Phase 1 Project Costs or Phase 2 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 Phase 1 Project Costs or Phase 2 Project Costs related to the applicable Loan Borrowing Certificate; provided, that the Borrower shall (xA) 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 which were expended were, in the case of a Phase 1 Loan, used to pay Phase 1 Project CostsCosts (or Debt Service) or, in respect of any disputed amounts, deposited to the Escrow Account or retained in the Phase 1 Construction Account pending resolution of the dispute or, in the case of a Phase 2 Loan, used to pay Phase 2 Project Costs (or Debt Service), or in respect of any disputed amounts, retained in the Phase 2 Construction Account pending resolution of the dispute, (yB) certify that Term Loan Borrowings made proceeds borrowed pursuant to the preceding Loan Borrowing Certificate, as applicable, Certificate and all equity not yet expended as previously projected shall be expended during the next forty-five (45) days30 days or, in respect of any disputed amounts, in the case of a Phase 1 Loan, deposited to the Escrow Account or retained in the Phase 1 Construction Account or, in the case of a Phase 2 Loan, retained in the Phase 2 Construction Account, in each case pending resolution of the dispute, as certified by the Independent Engineer or (zC) reduce the amount of the Term Loans requested pursuant to the current Notice of Borrowing, as applicable, Borrowing in an amount equal to the Term Loan proceeds and equity not previously expended or, in respect of any disputed amounts, in the case of a Phase 1 Loan, deposited to the Escrow Account or retained in the Phase 1 Construction Account or, in the case of a Phase 2 Loan, retained in the Phase 2 Construction Account, in each case pending resolution of the dispute and not contemplated to be spent pursuant to clause (yB) above; provided, that in no event shall the Borrowing borrowing be reduced below $1,000,0002,000,000.