Pre-Closing Project Costs Report Clause Samples
The Pre-Closing Project Costs Report clause requires the preparation and delivery of a detailed report outlining all project-related costs incurred prior to the closing date of a transaction. Typically, this report includes itemized expenses, supporting documentation, and may be subject to review or approval by the other party. Its core function is to ensure transparency and accountability regarding financial obligations before the transaction is finalized, helping to prevent disputes over cost allocation and ensuring both parties have a clear understanding of pre-closing expenditures.
Pre-Closing Project Costs Report. DOE shall have received: (a) a detailed description, with supporting documents as reasonably requested by DOE, of expenditures for Project Costs incurred and paid by the Borrower or any Affiliate of the Borrower prior to the Guarantee Issuance Date, which description shall specify those expenditures for which the Borrower seeks credit to be applied toward Base Funding; and (b) a certificate from the Lender’s Engineer and a certificate from the Borrower, each certifying that such Project Costs have been applied in accordance with the Construction Budget.
Pre-Closing Project Costs Report. An update to the report delivered pursuant to Section 4.1.2(a)(iv) which shall be a detailed description, with supporting documents as reasonably requested by DOE, (A) of Project Costs (including all development costs) incurred and paid to third parties prior to the date of the Master Advance Notice delivered with respect to the first Advance prepared by the Borrower and reviewed by the Independent Engineer for costs of a technical nature and (B) specifying those Project Costs for which the Borrower, the Sponsors or any Affiliate thereof seeks credit to be applied toward Base Equity and certifying that such amounts are Eligible Project Costs and have been applied in accordance with the Construction Budget.