PROJECT FINANCING AGREEMENT Sample Clauses

PROJECT FINANCING AGREEMENT. (Schedule 1-3 to the PDA) The parties to the Project Financing Agreement are: • Wuskwatim Partnership, as the borrower, and • Hydro, as the lender Background In simple terms, the Project Financing Agreement deals with how and under what terms and conditions Hydro will lend money to the Wuskwatim Partnership to fund (together with the capital contributions of the limited partners), the construction and operation of the Wuskwatim Project, and how the Wuskwatim Partnership will repay those loans. The various agreements between Hydro, TPC and NCN contemplate that, immediately prior to initial closing, the PDA will be signed and construction will start shortly afterwards. As construction proceeds and costs are incurred, the Wuskwatim Partnership (or Hydro, as the manager of the project on its behalf) will pay the bills and keep a running total. Hydro and NCN have agreed that the Wuskwatim Partnership will borrow funds to finance the Wuskwatim Project from Hydro up to a level that is 75% of the total debt and equity financing of the project (with that debt ratio being permitted to be increased to up to 85% in the first ten years). The balance of any capital required by the Wuskwatim Partnership must come from the two limited partners. By way of example, if the Wuskwatim Project costs a total of $1 billion, 75 percent, or $750 million, of this will be borrowed by the Wuskwatim Partnership from Hydro. The remaining $250 million is the equity of the limited partners. Hydro will own 66.99 percent of the Wuskwatim Partnership and must put in 66.99 percent of the equity, or $167.475 million. NCN, through TPC, will own 33 percent of the Wuskwatim Partnership and must put in up to 33 percent or $82.5 million of the equity. TPC will pay the General Partner $1 million in cash on initial closing, and will eventually borrow a portion of the rest from Hydro. (See summary of TPC Financing Agreement). The amount borrowed by the Wuskwatim Partnership from Hydro is the amount secured by the Project Financing Agreement. The Project Financing Agreement does not deal with loans made to TPC or NCN, which are covered by the TPC Financing Agreement and the NCN Financing Agreement respectively. The General Partner will contribute the remainder so that under this scenario the partners would fund $250 million.
Sample 1
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PROJECT FINANCING AGREEMENT. (Schedule 1-3 to the PDA) The parties to the Project Financing Agreement are: • Wuskwatim Partnership, as the borrower, and • Hydro, as the lender Background In simple terms, the Project Financing Agreement deals with how and under what terms and conditions Hydro will lend money to the Wuskwatim Partnership to fund (together with the capital contributions of the limited partners), the construction and operation of the Wuskwatim Project, and how the Wuskwatim Partnership will repay those loans. The various agreements between Hydro, TPC and NCN contemplate that, immediately prior to initial closing, the PDA will be signed and construction will start shortly afterwards. As construction proceeds and costs are incurred, the Wuskwatim Partnership (or Hydro, as the manager of the project on its behalf) will pay the bills and keep a running total. Hydro and NCN have agreed that the Wuskwatim Partnership will borrow funds to finance the Wuskwatim Project. The previous formula was 75% debt and 25% equity from the Limited Partners except during the first 10 years of operations of the Project. This Agreement was amended to state that no Distributions can be made by the Limited Partnership while there are moneys owing under the Loan Documents, if the Distributions would cause the Debt Ratio to exceed 75% unless Hydro agrees. The amount borrowed by the Wuskwatim Partnership from Hydro is the amount secured by the Project Financing Agreement. The Project Financing Agreement does not deal with loans made to TPC or NCN, which are covered by the TPC Financing Agreement and the NCN Financing Agreement respectively.
Sample 1

Related to PROJECT FINANCING AGREEMENT

  • Project Financing B.1. The Foundation hereby agrees to fund, by Conditional Grant, the implementation of the Proposal in the maximum sum of $ or 50% of the actual expenditures on the Project, as contemplated in the Approved Project Budget, whichever is less, and at the times and as may otherwise be set forth in Annex B hereto.

  • Financing Agreements The School shall comply with Ch. 37D, HRS, relating to financing agreements. “Financing agreement” means any lease purchase agreement, installment sale agreement, loan agreement, line of credit or other agreement of the department or, with the approval of the director, and any agency, to finance the improvement, use or acquisition of real or personal property that is or will be owned or operated by one or more agencies of the State, the department or any agency, or to refinance previously executed financing agreements including certificates of participation relating thereto. The School shall not act as a guarantor of any such financing agreement.

  • Financing Arrangement 5.2.1 The Developer shall at its own cost, expenses and risk make such financing arrangement as would be necessary to implement the Project and to meet all of its obligations under this Agreement, in a timely manner.

  • Management Agreement The Management Agreement is in full force and effect and there is no default thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder.

  • Financing Arrangements (a) The Owner will obtain the Project Loan which shall be sufficient, together with the Owner's equity contributions, to pay the full amount of the costs to construct the Project in accordance with the development budget. The Owner and the Developer also contemplate that the Property and the Project, together with all fixtures, furnishing, equipment, and articles of personal property now owned or hereafter acquired by the Owner which are or may be attached to or used in connection with the Property or the Project, together with any and all replacements thereto and substitutions therefor, and all proceeds thereof; and all present and future rents, issues, leases, and profits of the Property and the Project will serve as security for the payment obligations to any lenders relating to the Project Loan or otherwise, and that the Owner will be the principal obligor for the repayment of all financial obligations thereunder after the transfer of title to the Owner. The Owner therefore, agrees to execute and deliver all commitments, promissory notes, mortgages, collateral assignments, documents, certificates, affidavits, and other writings required to be executed by any lender in connection with such financing.

  • Operating Agreement You haves received and read a copy of the Company’s Operating Agreement (the “Operating Agreement”) and agree that your execution of this Agreement constitutes your consent to and execution of the Operating Agreement, and, that upon acceptance of this Agreement by the Company, you will become a member of the Company as a holder of Shares. When this Agreement is countersigned by the Company, the Operating Agreement shall be binding upon you as of the closing date.

  • Arrangement Agreement This Plan of Arrangement is made pursuant to, and is subject to the provisions of, the Arrangement Agreement, except in respect of the sequence of the steps comprising the Arrangement, which shall occur in the order set forth herein.

  • Student Agreement The acceptable and unacceptable uses of the Charter School network and the Internet are described in this “Student Acceptable Use Agreement." By signing this agreement, I acknowledge that I have read, understand and agree to abide by the provisions of the attached Student Acceptable Use Policy. I understand that any violations of the above could result in the immediate loss of electronic computing and may result in further disciplinary and/or legal action, including but not limited to suspension, or referral to legal authorities. I also agree to report any misuse of the Charter School network to school site teacher or administrator. Misuse can come in many forms but can be viewed as any messages sent or received that indicate or suggest pornography, unethical or illegal solicitation, racism, sexism, inappropriate language, and other issues described under the unacceptable uses in this Acceptable Use Policy. I realize that all the rules of conduct described in this Charter School Acceptable Use Policy, procedures, and handbooks apply when I am using the Charter School network. Student Name: Student Signature: Date: PARENT OR GUARDIAN AGREEMENT: (Students under the age of 18 must have a parent or guardian who has read and signed this Acceptable Use Contract.) As a parent or guardian of this student, I have read this Acceptable Use Policy and understand that the use of the Charter School network is designated for educational purposes only. I understand that it is impossible for the Charter School to restrict access to all controversial materials, and I will not hold the Charter School, responsible for materials acquired on the Charter School network or Internet. I also agree to report any misuse of these electronic resources to the school administrator. I accept full responsibility for my child should they use remote connections when available to the Charter School network in a non- school setting. I hereby give my permission to issue an account for my child to use the Charter School network and Internet. I release the Charter School, its affiliates and its employees from any claims or damages of any nature arising from my child or dependent’s access and use of the Charter School network. I also agree not to hold the Charter School responsible for materials improperly acquired on the system, or for violations of copyright restrictions, user’s mistakes or negligence, or any costs incurred by users. This agreement shall be governed by and construed under the laws of the United States and the State of California. Student Name: Parent/Legal Guardian Name: Parent/Legal Guardian Signature: Date:

  • PROJECT FINANCING AND EXPENSES SCHEME The Recipient further designates the Project's estimated financial resources and estimated costs certified to the OPWC under this Agreement for the Project as defined and described in Appendix A of this Agreement to consist of the following components:

  • Pre-financing Pre-financing is intended to provide the beneficiary with a float. Where required by the provisions of Article I.4 on pre-financing, the beneficiary shall furnish a financial guarantee from a bank or an approved financial institution established in one of the Member States of the European Union. The guarantor shall stand as first call guarantor and shall not require the Commission to have recourse against the principal debtor (the beneficiary). The financial guarantee shall remain in force until final payments by the Commission match the proportion of the total grant accounted for by pre-financing. The Commission undertakes to release the guarantee within 30 days following that date.

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