Project Document Amounts Clause Samples

Project Document Amounts. Upon the receipt by a Specified Borrower Entity (or the Sponsor or any of its Subsidiaries on behalf of a Specified Borrower Entity) of (A) any amount as a result of the termination or repudiation of any Major Project Document that exceeds $ **** after deducting therefrom the reasonable out-of-pocket costs incurred by a Borrower Entity (or any Sponsor Controlled Affiliate of a Borrower Entity) to replace such Major Project Document or (B) any amount as a result of a breach of any Major Project Document (other than termination or repudiation) that exceeds $**** after deducting therefrom the amount reasonably necessary to remedy the breach (in either case, the amount of such excess being the “Project Document Excess Amount”), the Borrower shall deliver to DOE within **** a Prepayment Election Notice specifying that it elects to apply the Project Document Excess Amount to prepay the principal amount and, if applicable, capitalized interest of one or more Advances and pay all accrued interest (other than capitalized interest) and other amounts due and payable in connection with such prepayment and shall make such prepayment on the date specified in such Prepayment Election Notice, which shall be no later than **** following delivery of such Prepayment Election Notice; provided that (x) if such Major Project Document solely relates to Block 1, the Borrower shall first apply such prepayment to Note A Advances and second, any excess to Note B Advances, (y) if such Major Project Document solely relates to Block 2, the Borrower shall first apply such prepayment to Note B Advances and second, any excess to Note A Advances; and (z) that, the Borrower shall not be required to use, for prepayment under this paragraph, such portion of the Project Document Excess Amount that: (A) the Borrower and DOE reasonably determine is necessary or will be applied (1) to repair, replace or modify the Project or any portion thereof, to eliminate or mitigate any operational underperformance by the Project to which such Project Document Excess Amount is directly related, or (2) otherwise, to pay any other Project Costs to which such Project Document Excess Amounts are directly related, and (B) to the extent such amounts are used for such purposes within the twelve months following the receipt thereof. If any portion of the Project Document Excess Amounts that is not applied to prepay the principal amount of one or more Advances or interest or other amounts thereon, pursuant to the prov...