Long-Term Financing for Capital Projects Sample Clauses

Long-Term Financing for Capital Projects. Should Customer desire financing to satisfy its Short Term Repayment Obligation for a Capital Project, the Customer may apply for long-term financing through the financing products offered by the Authority to convert Customer’s Short-Term Repayment Obligation to a Long-Term Repayment Obligation. The Authority at its sole discretion may make a long-term financing option available to the Customer. This is a fixed rate long-term financing product provided by the Authority in collaboration with a third-party. General parameters include: • Rates will be based on a fixed rate (Authority borrowing rate or equivalent) adjusted for customer’s credit, term of agreement or other factors as appropriate; • Available for the period after project acceptance and closing; and • Funding is contingent on the execution of appropriate financing documentation containing customary terms and conditions including representations, warranties, covenants, legal opinions and other conditions precedent. The Authority will endeavor to provide options for the Customer to make financing payments as a monthly billing surcharge to the Customer’s electrical supply bill under the then-effective power supply agreement between the Customer and Authority (it being understood if a Customer is not served by the Authority, such monthly billing will not be a surcharge but rather a separate invoice for the repayment amount due). The Authority from time to time may modify its financing offer and/or develop/offer new Project or program financing mechanisms to Customers. Details on future financing products will be provided and agreed on a Project- or program-specific basis either through a separate document or amendment to this agreement. Regardless of whether the Customer elects to utilize any of the Authority’s available financing products, the Customer is responsible for satisfying its Short Term Repayment Obligation within the time constraints set forth herein. If the Customer elects to apply for Long Term Financing, it shall submit a loan application a minimum of 90-days prior to anticipated Final CPC execution. If Customer’s application for long- term financing is approved by the Authority, the Parties’ obligations with respect to such financing will be set out in an amendment to this agreement, the CPC, or as a separate agreement, with terms and conditions agreed to by the Parties.
Sample 1
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Related to Long-Term Financing for Capital Projects

  • Term The term of this Agreement will be ten (10) years from the Effective Date (as such term may be extended pursuant to Section 4.2, the “Term”).

  • WHEREAS the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

  • Miscellaneous The Vendor acknowledges and agrees that continued participation in TIPS is subject to TIPS sole discretion and that any Vendor may be removed from the participation in the Program at any time with or without cause. Nothing in the Agreement or in any other communication between TIPS and the Vendor may be construed as a guarantee that TIPS or TIPS Members will submit any orders at any time. TIPS reserves the right to request additional proposals for items or services already on Agreement at any time.

  • Indemnification In the event any Registrable Securities are included in a Registration Statement under this Agreement:

  • Definitions As used in this Agreement, the following terms shall have the following meanings:

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Confidentiality (a) Subject to Section 7.15(c), during the Term and for a period of three

  • Entire Agreement This DPA and the Service Agreement constitute the entire agreement of the Parties relating to the subject matter hereof and supersedes all prior communications, representations, or agreements, oral or written, by the Parties relating thereto. This DPA may be amended and the observance of any provision of this DPA may be waived (either generally or in any particular instance and either retroactively or prospectively) only with the signed written consent of both Parties. Neither failure nor delay on the part of any Party in exercising any right, power, or privilege hereunder shall operate as a waiver of such right, nor shall any single or partial exercise of any such right, power, or privilege preclude any further exercise thereof or the exercise of any other right, power, or privilege.

  • General All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by the Borrower hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the Administrative Agent’s Office in Dollars and in immediately available funds not later than 2:00 p.m. on the date specified herein. The Administrative Agent will promptly distribute to each Lender its Applicable Percentage (or other applicable share as provided herein) of such payment in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by the Administrative Agent after 2:00 p.m. shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be.

  • Notice Any notice required or permitted to be given by either party to the other shall be deemed sufficient if sent by registered or certified mail, postage prepaid, addressed by the party giving notice to the other party at the last address furnished by the other party to the party giving notice: if to the Issuer, at 00 Xxxxxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx, and if to Distributors, at 00 Xxxxxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx.

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