Funding of Equity. (a) Notwithstanding any other provision of this Agreement to the contrary, Borrower shall have the right to, at any time, make a Contribution into the Construction Account or any sub-account therein and have such funds applied to the payments of Costs in accordance with Section 7.1.2 so long as (i) at least 10 Banking Days prior to the requested disbursement of funds from the Construction Account, Borrower shall have provided Administrative Agent with a certificate, dated the date of the proposed disbursement and signed by Borrower, substantially in the form of Exhibit C-6 or C-8, as the case may be, in respect of the Project or Turbine for which the disbursement is being requested and (ii) at least 4 Banking Days prior to the date of the requested disbursement of funds from the Construction Account, the Independent Engineer shall have provided Administrative Agent with a certificate, substantially in the form of Exhibit C-7 or C-9, as the case may be, relating to such disbursement; provided, however, that in the case of a Project (rather than a Turbine) such certificates need not certify as to whether the amount of Project Costs incurred by the Project for which the disbursement is being requested are in excess of the amounts set forth in the corresponding Project Budget, and the funds deposited by Borrower into the Construction Account with respect to Projects shall be released regardless of whether or not the requested disbursement is in excess of the amounts set forth in the corresponding Project Budget; provided, further, that until the funding of the initial Loans with respect to a given Project or Turbine, funds deposited by Borrower into the Construction Account with respect to such Project or Turbine shall be released notwithstanding failure to satisfy the conditions set forth in (i) Sections 3.3, 3.4.5, 3.4.7, 3.4.8, 3.4.9, 3.4.11, 3.4.12, 3.4.14, 3.4.15, 3.4.17, 3.4.18 (as it relates to such Project), 3.4.19 and 3.4.20 with respect to such Project, or (ii) Sections 3.5, 3.6.5, 3.6.7, 3.6.8, 3.6.10, 3.6.11 (as it relates to such Turbine), and 3.6.12 (with respect to such Turbine).
(b) In the event that Borrower makes a Contribution with respect to a Project as contemplated in paragraph (a) above or otherwise with respect to a Project which is in excess of the Base Equity and Additional Borrower Equity which Borrower is required to contribute or cause to be contributed under this Agreement, then Borrower shall, at any time (i) prior to the Complet...
Funding of Equity. The Company shall have certified in the Company's Closing Certificate (as confirmed by the Construction Consultant to the extent set forth in the Construction Consultant's Closing Certificate) that (a) the amounts on deposit in the Project Liquidity Reserve Account have been irrevocably and unconditionally contributed to the Company and (b) in addition thereto, cash or property in the amount of Four Hundred Forty One Million One Hundred Forty Nine Thousand Eight Hundred Twenty One Dollars ($441,149,821) has been irrevocably and unconditionally contributed to Xxxx Las Vegas and applied to the payment of Project Costs and (c) cash in the amount of One Hundred Thirty One Million Two Hundred Twenty-Seven Thousand Six Hundred Ten Dollars ($131,227,610) has been irrevocably and unconditionally contributed to Xxxx Las Vegas and deposited into the Company's Funds Account and (d) net proceeds of the initial public offering of Wynn Resorts, Limited in the amount of Three Hundred Ninety Million Four Hundred Sixty Five Thousand Three Hundred Fifty Dollars ($390,465,350) has been irrevocably and unconditionally contributed to Xxxx Las Vegas (which amount does not include $40 million of the net proceeds of such initial public offering associated with the Macau project), $383,578,773.70 of which, after giving effect to the Closing Payments, have been deposited in the Company's Funds Account.
Funding of Equity. Each of the Bank Agent, the Representatives of the Underwriters and the FF&E Agent shall have become reasonably satisfied that the amounts on deposit in the Company's Funds Account and the Project Liquidity Reserve Account have been irrevocably and unconditionally contributed to the Company and that, in addition thereto, cash or property in the amount of $[ ] has been irrevocably and unconditionally contributed to Xxxx Las Vegas and applied to the payment of Project Costs, as certified to by the Construction Consultant in the Construction Consultant's Closing Certificate.
Funding of Equity. Solely with respect to the initial Advance of funds from the Second Mortgage Notes Proceeds Account, the Construction Consultant has certified that cash or property in the amount of $ [ ] has been applied to the payment of Project Costs, as set forth in the Construction Consultant's Advance Certificate.
Funding of Equity. Solely with respect to the initial Advance of funds from the Second Mortgage Notes Proceeds Account, the Company has certified (and the Construction Consultant has confirmed to the extent set forth in the Construction Consultant's Advance Certificate) that cash or property in the amount equal to Nine Hundred Two Million Three Hundred Seventy Seven Thousand Three Hundred Ninety ($902,377,390).
Funding of Equity. The Company shall have certified in the Company's Closing Certificate (as confirmed by the Construction Consultant to the extent set forth in the Construction Consultant's Closing Certificate) that (a) the amounts on deposit in the Project Liquidity Reserve Account have been irrevocably and unconditionally contributed to the Company; and (b) in addition thereto, cash or property in an amount not less than Four Hundred Million Dollars ($400,000,000.00) has been irrevocably and unconditionally contributed to the Company.
Funding of Equity. 51 3.11 No Approval of Work................................................52 3.12 Waiver of Funding; Adjustment of Drawdown Requests.................52
Funding of Equity. 10.1.1 The GoS hereby undertakes to fund from time to time the GoS Base Equity Amount through subscription in cash in Pak Rupees for Class B Shares in accordance with the Equity Funding & Utilization Agreement.
10.1.2 The Concessionaire hereby undertakes to procure funding by the Sponsor from time to time of the Sponsor Base Equity Amount through subscription in cash in Pak Rupees for Class A Shares by the Sponsors in accordance with the Equity Funding & Utilization Agreement.
10.1.3 All Base Equity Amounts shall be funded and utilized from time to time in accordance with the Equity Funding & Utilization Agreement.
Funding of Equity. Any amount payable by any Partner or Partner Obligor under the Equity Agreement shall not be paid when due (provided, that, a failure by the Xxxxxxxxxxxx Partner or Xxxxxxxxxxxx to pay any amount payable by it pursuant to Sections 2(a), 2(c) (in respect of the Rova I Virginia Power Letter of Credit), 2(g), 2(h) and 2(i), 3(b) (in respect of its obligations under Sections 2(a), 2(c) (in respect of the Rova I Virginia Power Letter of Credit), 2(g), 2(h) and 2(i)) and 4(b) (in respect of its obligations under Sections 2(a), 2(c) (in respect of the Rova I Virginia Power Letter of Credit), 2(g), 2(h) and 2(i)) thereof shall not be an Event of Default hereunder).
Funding of Equity. Delivery to the Phase II Mall Agent of evidence reasonably satisfactory to the Phase II Mall Agent and the Construction Consultant that the Phase II Mall Intercompany Loan has been applied (or will be applied on the Initial Mall Advance Date) to the payment of Project Costs (exclusive of costs related to the acquisition and/or leasing of any portion of the Phase II Mall Air Space where any Loan Party is the tenant or the Phase II Hotel/Casino Retail Store Space) allocated pursuant to the Project Budget to the Phase II Mall, as certified to by the Construction Consultant in the Construction Consultant’s Advance Certificate.
