Finance-Based Success Fee Sample Clauses

Finance-Based Success Fee. The Contractor shall reimburse to USTDA the total amount of the Disbursed Grant Funds if, in connection with the initial financial closing (involving funding in the form of debt and/or equity) with respect to the Project or any related project that is based substantially upon the Activity or that derived benefit from the Activity (“Financial Closing”), the Contractor or any of its parent(s), subsidiary(ies) or other affiliate(s) (each a “Contractor Party”, and collectively, the “Contractor Parties”): (i) takes an equity position in the Project or such related project; (ii) commits its own financial resources (as evidenced by an outlay of implementation funds) for the Project or such related project; or (iii) whether or not such Contractor Party is a principal or equity holder in the Project or such related project, the Contractor Party receives proceeds from a drawdown of funds from a public or private financial institution, or other person or entity acting as a financier (the occurrence of any of the events in the foregoing subclauses (i) through (iii) collectively, a “Financing Event”). Reimbursement by the Contractor of the total amount of Disbursed Grant Funds must be made regardless of the amount or value of any such equity position, outlay of funds or drawdown occurring in connection with a Financing Event.