Project Credit Support Sample Clauses

The PROJECT CREDIT SUPPORT clause establishes the requirement for financial backing or guarantees to support a project's obligations. Typically, this involves the provision of instruments such as letters of credit, parent company guarantees, or performance bonds by one or more parties involved in the project. These forms of credit support ensure that, in the event of default or non-performance, there are sufficient financial resources available to cover losses or fulfill contractual commitments. The core function of this clause is to mitigate financial risk and provide assurance to stakeholders that the project's obligations will be met even if unforeseen issues arise.
Project Credit Support. Capital Members and their Affiliates may, from time to time, to the extent requested by the Board, provide credit support for or on behalf of the Company and its Subsidiaries to support their respective obligations to third parties in connection with the development, construction, financing and operation of the Red River Project, Supply Company, Five Forks, the Vortex Project and ACS Land Company, in each case in the form (e.g., letters of credit, cash deposits) and amount as determined by the Board and such Capital Member. Unless otherwise agreed in writing among the Capital Members, any such credit support shall be provided by the ADA-ES Side, on the one hand, and the ECP Side, on the other hand, based on their respective Capital Percentage Interests. With respect to the letters of credit required by Section 2.1.4 of the EPC Contract, as supplemented by the Second Letter Agreement, dated as of September 30, 2008, the ECP Members shall not be obligated to: (a) increase the stated amount of such letter of credit or extend the maturity date thereof at any time or (b) replenish the stated amount of any such letter of credit to the extent drawn.
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Project Credit Support. Members and their Affiliates may, from time to time, to the extent requested by the Board, provide credit support for or on behalf of the Company and its Subsidiaries to support their respective obligations to third parties in connection with the development, construction, financing and operation of the Red River Project, in each case in the form (e.g., letters of credit, cash deposits) and amount as determined by the Board and such Member. Unless otherwise agreed in writing among the Members, any such credit support shall be provided by the ADA-ES Side, on the one hand, and the ECP Side, on the other hand, based on their respective Percentage Interests. With respect to the letters of credit required by Section 2.1.4 of the EPC Contract, as supplemented by the Second Letter Agreement, dated as of September 30, 2008, (i) ADA-ES shall at all times maintain, or cause to be maintained, letters of credit as necessary to cover $6,600,000 of the stated amount of such required letters of credit until such time as ADA-ES is required to make Capital Contributions pursuant to Section 3.3(c)(ii), and (ii) subject to clauses (ii) and (iii) of the Funding Conditions and compliance with Section 2.1(b) of the Reimbursement Agreement, the ECP Members shall cause the aggregate stated amount of such letters of credit to equal the amount from time to time set forth in the table below, less, during any period in which the ADA-ES letter of credit referred to above is required to be issued in accordance with this Section, $6,600,000; provided that the ECP Members shall not be obligated to: (a) increase the stated amount of such letter of credit or extend the maturity date thereof at any time on or after the occurrence of an ADA-ES Triggering Event or a Material Default by ADA-ES or at any time during which a default or event of default has occurred and is continuing under the Effective Date Credit Support Documents; (b) replenish the stated amount of any such letter of credit to the extent drawn; or (c) increase the stated amount of any such letter of credit or extend the maturity date thereof at any time on or after February 28, 2009. October 1, 2008 to October 30, 2008 $ 15,710,000.00 November 1, 2008 to November 30, 2008 $ 19,280,000.00 December 1, 2008 to December 31, 2009 $ 16,040,000.00 January 1, 2009 to January 31, 2009 $ 17,670,000.00 February 1, 2009 and thereafter $ 21,350,000.00
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Project Credit Support. Lessee shall provide and maintain all credit support required under the Project Documents and the Project Governmental Approvals to the extent not required nor elected to be provided and maintained by Lessor pursuant to Section 8.3(c); provided, however, that in no event shall Lessee be required to fund or pay any debt owing by Lessor to a Financing Party.
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Project Credit Support. Beginning on the Effective Date and throughout the remainder of the Lease Term, and subject to the last sentence of this Section 8.3(c), (i) Lessor shall provide and maintain all credit support required under the Assigned Project Documents and the Assigned Project Governmental Approvals and (ii) Lessor shall have the option (but not the obligation) to provide and maintain any credit support required of Lessee or its Affiliates under any of the other Project Documents or Project Governmental Approvals on behalf of Lessee or its Affiliates. Notwithstanding the foregoing, Lessee shall pay the actual costs incurred by Lessor to provide and maintain any credit support required of Lessee or its Affiliates pursuant to the Project Documents or the Project Governmental Approvals.
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Project Credit Support 
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Related to Project Credit Support

  • Credit Support A Credit Support Document between the Parties may apply to obligations governed by the Agreement. If the Parties have executed a Credit Support Document, such Credit Support Document shall be subject to the terms of the Agreement and is hereby incorporated by reference in the Agreement. In the event of any conflict between a Credit Support Document and the Agreement, the Agreement shall prevail, except for any provision in such Credit Support Document in respect of governing law.

  • Credit Support Obligations (i) Delivery Amount, Return Amount and Credit Support Amount.

  • Credit Support Provider Credit Support Provider means in relation to Party A: (1) Party A in its capacity as a party to the Credit Support Document and (2) the guarantor under any Eligible Guarantee, and in relation to Party B, Party B in its capacity as a party to the Credit Support Document.

  • Certain Credit Support Events If (i) the L/C Issuer has honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing, (ii) as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, (iii) the Borrower shall be required to provide Cash Collateral pursuant to Section 2.05 or 8.02(c), or (iv) there shall exist a Defaulting Lender, the Borrower shall immediately (in the case of clause (iii) above) or within one (1) Business Day (in all other cases) following any request by the Administrative Agent or the L/C Issuer, provide Cash Collateral in an amount not less than the applicable Minimum Collateral Amount (determined in the case of Cash Collateral provided pursuant to clause (iv) above, after giving effect to Section 2.15(a)(iv) and any Cash Collateral provided by the Defaulting Lender).

  • Child Support Obligation Under Section 231.006(d) of the Texas Family Code regarding child support, Contractor certifies that the individual or business entity named in this Contract and any related Solicitation Response is not ineligible to receive the specified payment and acknowledges that the Contract may be terminated and payment may be withheld if this certification is inaccurate. If the certification is shown to be false, Contractor may be liable for additional costs and damages set out in 231.006(f).