Funds to Complete Sample Clauses

Funds to Complete. (a) Prior to Completion, the Shareholder shall provide (or cause to be provided) Shareholder funding, at such times and in such amounts as may be necessary (taking into account all Advances made and those to be made to the Borrower under the Credit Agreement in accordance with the terms thereof) in order to pay when required or due all costs and expenses incurred by or on behalf of the Borrower in connection with the construction, development, design, engineering, acquisition, financing, outfitting, testing, start-up and completion of the Plant, including the cost of Plant equipment and each of the following (such funding being the "FUNDS TO COMPLETE"): (i) all amounts payable by the Borrower to its contractors, suppliers and subcontractors pursuant to the Construction Documents; (ii) the costs and expenses of all engineering, legal, accounting and other professional advisers properly incurred by the Borrower in connection with and attributable to the Plant; (iii) costs of Required Insurance; (iv) administration and maintenance costs incurred during the construction period; and (vi) value-added tax, other taxes and customs charges payable in respect of any of the above. (b) The Funds To Complete shall be paid by the Shareholder in the form of either (i) the subscription to additional shares of common stock of the Borrower or other additional contributions to the owners' equity of the Borrower or (ii) the lending of such funds to the Borrower, PROVIDED that (A) on the date of such lending no event shall have occurred and shall be continuing, or would result from such lending, that constitutes a Default and (B) the obligation of the Borrower to repay such funds (and interest thereon) is duly subordinated in right of payment, in writing and upon terms (including, without limitation, terms regarding maturity) satisfactory to the Lender, to the obligations of the Borrower under the Credit Agreement and the Notes. (c) The Shareholder agrees punctually to pay all Funds To Complete.

Funds to Complete. In the opinion of the Department, the Borrower has sufficient funds to pay all unpaid costs of completing the Project specified in the Project Budget.

Funds to Complete. If Lender estimates, at any time, and from time to time, that the amount necessary to assure final completion of the construction of the Improvements, including but not limited to interest and other soft or non-construction budget items, during the term of the Loan (the "Total Budget") shall exceed the amount of the undisbursed Loan proceeds plus the total amount of all equity investments made or scheduled to be made by Borrower, then Lender shall have the option to require Borrower (a) to immediately deposit with Lender the amount of any such difference, in cash or other form satisfactory to Lender, which amount shall be disbursed toward the Total Budget costs prior to any advance, or any further advance, by Lender under the Loan, or (b) to expend the amount of any such difference for items included in the Total Budget with satisfactory evidence of such expenditure being provided to Lender prior to any advance, or any further advance, by Lender of the Loan funds. Lender shall be assured at all times, to its satisfaction, that the undisbursed Loan funds are sufficient to complete the Improvements in accordance with the Total Budget and in accordance with the Plans and Specifications and this Agreement. Lender reserves the right of continual verification of adequate equity investment made by Borrower as herein set forth. Any deposit made by the Borrower as required by this Agreement shall be disbursed before any or any other Loan disbursements will be made, and shall be advanced as construction progresses. Upon request of Lender, Borrower shall furnish Lender a statement of the amounts remaining to be paid to the Borrower's contractor or contractors for the completion of the Improvements.

Funds to Complete. 3 SECTION 2.02

Funds to Complete. In the opinion of the Department, the 9 ----------------- undisbursed amount of the Loan and the total remaining funds available from each Participating Party specified in the Project Budget are sufficient to pay all unpaid costs of completing the Project.