Common use of Financing Term Sheet Clause in Contracts

Financing Term Sheet. 12.1.1 Prior to Financial Close, the Concessionaire shall deliver to FBR and the Independent Auditor a schedule or a copy of the term sheet reflecting the proposed material terms of the Financing Documents, and setting forth a principal repayment schedule that provides for financing repayment that is not greater than the aggregate of the financing component set out in the Financial Model using the assumptions of the Financial Model, together with the maximum principal amounts and interest (or markup) rate or rates and any schedules or formulae that will be included in the Financing Documents for the computation of principal and interest (or markup), fees and charges payable to the Financiers upon the winding up for early termination of the Financing under the Financing Documents, and shall also identify the equity commitments, individually and in total, of the Sponsor (the Specific Term Sheet Parameters). 12.1.2 FBR and the Independent Auditor will evaluate the Specific Term Sheet Parameters to ensure that the principal financial terms are not greater than the aggregate of the financing component set out in the Financial Model using the assumptions of the Financial Model, and to evaluate the impact on FBR’s obligations upon any Termination of this Agreement. 12.1.3 If FBR and/or the Independent Auditor has any objections to the terms specified in such term sheet or schedule, it shall inform the Concessionaire thereof within thirty (30) days of its receipt thereof; otherwise, the Independent Auditor shall be deemed not to have objected to those terms (the Financing Term Sheet) and the Concessionaire shall be entitled thereafter to execute the Financing Documents, consistent with those terms and a principal repayment schedule of the specified term or a shorter term without further notice to or review by FBR and/or the Independent Auditor. 12.1.4 The Concessionaire shall provide FBR, the Independent Engineer and the Independent Auditor with a copy of the Financing Documents no later than fifteen (15) business days of its execution (provided that, to the extent that the commercial terms of these executed Financing Documents do not materially deviate from the Financing Term Sheet, FBR and the Independent Auditor shall have no further right to raise any objection in respect of these Financing Documents). Any amendments to the financing term sheet shall only be made with the approval of Independent Auditor.