Financing Documents; Interest Margin Savings Clause Samples

Financing Documents; Interest Margin Savings. (a) In case the Termination Notice is issued, the Seller shall deliver to AEDB copies of the Financing Documents and all amendments thereto (duly certified by the Agent as to accuracy and completeness) and including the originally executed principal repayment schedule at Financial Closing together with all revisions thereto that provides for debt repayment, the maximum principal amounts and interest (or markup) rate or rates and any schedules or formulae included in the Financing Documents for the computation of principal and interest (or markup), fees and charges payable to the Lenders upon the winding up for early termination of the loans under the Financing Documents, and identifying the actual equity contributions, individually and in total, of the Investors. The Seller covenants that each loan agreement constituting part of the Financing Documents will provide that any liquidated damages received by the Seller from its EPC Contractor for capacity or other testing shortfalls shall be used either to reduce or pay the outstanding amount of debt under such loan agreement or in an effort to remedy such shortfalls or to make payments required under the Energy Purchase Agreement, if any. (b) If the actual interest margin over LIBOR or KIBOR (or other interest rate indices) contracted by the Seller under the Financing Documents at Financial Closing is lower than the Reference Interest Margin or if the margin over LIBOR or KIBOR (or other interest rate indices) under the Financing Documents (including by re-financing) is subsequently reduced below the Reference Interest Margin (“Interest Margin Savings”), the Seller shall forthwith and without delay notify the Interest Margin Savings in writing to AEDB and the Purchaser and thereupon: (i) the Interest Charges Component shall be reduced by an amount that represents sixty percent (60%) of the Interest Margin Savings; (ii) the Energy Purchase Agreement shall be amended to reflect such reduction in the Interest Charges Component to the extent relevant or applicable to all payment obligations of the Purchaser under the Energy Purchase Agreement (including, without limitation, under Article VI, Article VIII, Article XV and Schedule 1 of the Energy Purchase Agreement); and (iii) any payment obligations of the GOP under this Agreement and the Guarantee, including the obligation to pay Compensation Amounts under Article XV and Schedule 2 of this Agreement, shall be based on and shall reflect such reduction in the Inter...