Common use of Financing Services Clause in Contracts

Financing Services. SERI shall exercise commercially reasonable efforts to assist MESC or the Cogen Subsidiary in arranging for the Cogen Project Financing, so that such Cogen Project Financing shall be available as soon as practical after the Bankruptcy Court issues the Confirmation Order with respect to MESC. SERI shall, in accordance with Section 2.15, (i) solicit proposals from a selected number of banks and other financial institutions for the Cogen Project Financing, (ii) select an appropriate lender or lenders, and (iii) negotiate a term sheet and definitive agreements with such lender or lenders for the Cogen Project Financing. SERI shall, in accordance with Section 2.15, also negotiate credit agreements, select advisors and perform or arrange for the performance of such other services as may be necessary to assist MESC in obtaining such Cogen Project Financing in accordance with the terms of this Agreement.