Common use of Project Equity Clause in Contracts

Project Equity. The Administrative Agent shall have received evidence satisfactory to the Administrative Agent that (A) the net cash proceeds of the Project Equity have been contributed to the Borrower or (B) to the extent such net cash proceeds of the Project Equity have not been contributed to the Borrower, the Borrower shall have received an irrevocable letter of credit securing the irrevocable obligation of the equityholders to make such contribution, which letter of credit shall be in form and substance satisfactory to the Administrative Agent.

Project Equity. The Administrative Agent shall have received evidence satisfactory to the Administrative Agent that (Ai) the net cash proceeds of the Project Equity have been contributed to the Borrower or (Bii) to the extent such net cash proceeds of the Project Equity have not been contributed to the Borrower, the Borrower shall have received an irrevocable letter of credit securing the irrevocable obligation of the equityholders to make such contribution, which letter of credit shall be in form and substance satisfactory to the Administrative Agent.

Project Equity. The Administrative Agent shall have received evidence satisfactory to the Administrative Agent that (Ai) the net cash proceeds of the Project Equity have been contributed to the Borrower or (Bii) to the extent such net cash proceeds of the Project Equity have not been contributed to the Borrower, the Borrower shall have received an irrevocable letter of credit securing the irrevocable obligation of the equityholders to make such contribution, which letter of credit shall be in form and substance satisfactory to the Administrative AgentAgent .

Project Equity. The Administrative Agent shall have received evidence satisfactory to the Administrative Agent that (i) (A) the net cash proceeds of the Project Equity have been contributed to the Borrower or (B) to the extent such net cash proceeds of the Project Equity have not been contributed to the Borrower, the Borrower shall have received an irrevocable letter of credit securing the irrevocable obligation of the equityholders to make such contribution, which letter of credit shall be in form and substance satisfactory to the Administrative AgentAgent and (ii) and $6,005,518.54 has been deposited in the Equity Account.