Common use of Proceeds of Loans; Letter of Credit Clause in Contracts

Proceeds of Loans; Letter of Credit. Unless otherwise applied by Administrative Agent pursuant to this Financing Agreement, proceeds of the Loans shall be applied by Security Agent and the Securities Intermediary in the order and manner set forth in more detail in Article 9 and the Account Control Agreement. The proceeds of the Term Loans and the Bridge Loans shall be used solely for (i) the payment in full to the lenders under the Existing Stetson I Facilities, (ii) the payment in full to the lenders of the loans corresponding to each Stetson II Project Turbine under the Stetson II Turbine Supply Loan, (iii) payment of construction costs in accordance with the Construction Budget and Schedule, and (iv) payment of transaction costs, fees and expenses related to this Financing Agreement. The Letters of Credit and the proceeds of the LC Loans shall be used solely in the manner set forth in this Financing Agreement.