Financing of Lump Sum Payment Amounts. If the Authority is obligated to compensate, reimburse or otherwise pay Project Co and exercises its discretion to do so by a lump sum payment in accordance with Section 10.1 (Payments), at the Authority’s request Project Co will use all reasonable efforts to obtain the financing required to make such payment on the best terms reasonably available and, to the extent that Project Co is able to obtain such financing, there will be a corresponding increase made to the Service Payments in accordance with Section 10.3 (Adjustments to Service Payments). The Authority will:
(a) promptly pay to Project Co an amount equal to the reasonable out-of-pocket expenses incurred by Project Co in seeking such financing provided that the Authority approved such expenses prior to Project Co incurring them; and
(b) provide concurrent interim financing of any expenditures and costs to be incurred by Project Co until the earlier of the date on which such financing is obtained or payment is made pursuant to Section 10.1 (Payments). The Authority acknowledges that the Senior Lenders have no obligation to provide the financing referred to in this Section 10.2 or to subordinate or share their security.
Financing of Lump Sum Payment Amounts. If by the terms of this Agreement BC Hydro is obligated to compensate, reimburse or otherwise pay Project Co in a lump sum payment, at BC Hydro’s request Project Co will use all reasonable efforts to obtain the financing required to fund such payment amount on the best terms reasonably available and, to the extent that Project Co is able to obtain such financing, there will be a corresponding increase made to the Availability Payments in accordance with Section 10.3 [Adjustments to Availability Payments]. BC Hydro will:
(a) promptly pay to Project Co an amount equal to the reasonable out-of-pocket expenses incurred by Project Co in seeking such financing provided that BC Hydro approved such expenses prior to Project Co incurring them; and
(b) provide concurrent interim financing of any expenditures and costs to be incurred by Project Co until the earlier of the date on which such financing is obtained or payment is made pursuant to Section 10.1 [Lump Sum Payments]. BC Hydro acknowledges that the Senior Creditors have no obligation to provide the financing referred to in this Section 10.2 [Financing of Lump Sum Payment Amounts] or to subordinate or share their security.
Financing of Lump Sum Payment Amounts. If the Province is obligated to compensate, reimburse or otherwise pay Project Co and exercises its discretion to do so by a lump sum payment in accordance with Section 10.1 [Payments], at the Province’s request Project Co will use all reasonable efforts to obtain the financing required to make such payment on the best terms reasonably available and, to the extent that Project Co is able to obtain such financing, there will be a corresponding increase made to the Service Payments in accordance with Section 10.3 [Adjustments to Service Payments]. The Province will
(a) promptly pay to Project Co an amount equal to the reasonable out-of-pocket expenses incurred by Project Co in seeking such financing provided that the Province approved such expenses prior to Project Co incurring them; and
(b) provide concurrent interim financing of any expenditures and costs to be incurred by Project Co until the earlier of the date on which such financing is obtained or payment is made pursuant to Section 10.1 [Payments]. The Province acknowledges that the Senior Lenders have no obligation to provide the financing referred to in this Section 10.2 [Financing of Lump Sum Payment Amounts] or to subordinate or share their security.
Financing of Lump Sum Payment Amounts. If the Authority is obligated to compensate, reimburse or otherwise pay Project Co and exercises its discretion not to do so by a lump sum payment in accordance with Section 10.1, at the Authority’s request, Project Co will use commercially reasonable efforts to obtain the financing required to make such payment on the best terms reasonably available and, to the extent that Project Co is able to obtain such financing, there will be a corresponding increase made to the Availability Payments in accordance with Section 10.3. The Authority will:
(a) promptly pay to Project Co an amount equal to the reasonable out-of-pocket expenses incurred by Project Co in seeking such financing provided that the Authority approved such expenses prior to Project Co incurring them; and
(b) provide concurrent interim financing of any expenditures and costs to be incurred by Project Co until the earlier of the date on which such financing is obtained or payment is made pursuant to Section 10.1. The Authority acknowledges that the Senior Secured Creditors have no obligation to provide the financing referred to in this Section 10.2 or to subordinate or share their security.
Financing of Lump Sum Payment Amounts. If PUC is obligated to compensate, reimburse or otherwise pay Project Co and exercises its discretion to do so by a lump sum payment in accordance with Section 10.1 (Lump Sum Payments), at PUC’s request Project Co will use all reasonable efforts to obtain the financing required to make such payment on the best terms reasonably available and, to the extent that Project Co is able to obtain such financing, there will be a corresponding increase made to the Monthly Payment in accordance with Section 10.3 (Adjustments to Monthly Payment). PUC will:
(a) promptly pay to Project Co an amount equal to the reasonable out-of-pocket expenses incurred by Project Co in seeking such financing; and
(b) provide concurrent interim financing of any expenditures and costs to be incurred by Project Co until the earlier of the date on which such financing is obtained or payment is made pursuant to Section 10.1 (Lump Sum Payments). PUC acknowledges that the Senior Lenders have no obligation to provide the financing referred to in this Section 10.2 or to subordinate or share their security.
Financing of Lump Sum Payment Amounts. If the Province is obligated to compensate, reimburse or otherwise pay Project Co and exercises its discretion to do so by a lump sum payment in accordance with Section 10.1, at the Province’s request Project Co will use all reasonable efforts to obtain the financing required to make such payment on the best terms reasonably available and, to the extent that Project Co is able to obtain such financing, there will be a corresponding increase made to the Service Payments in accordance with Section 10.3. The Province will:
(a) promptly pay to Project Co an amount equal to the reasonable out-of-pocket expenses incurred by Project Co in seeking such financing provided that the Province approved such expenses prior to Project Co incurring them; and
(b) provide concurrent interim financing of any expenditures and costs to be incurred by Project Co until the earlier of the date on which such financing is obtained or payment is made pursuant to Section 10.1. The Province acknowledges that the Senior Lenders have no obligation to provide the financing referred to in this Section 10.2 or to subordinate or share their security.
