Refinancing Process Sample Clauses
Refinancing Process. If Project Co intends to undertake a Qualifying Refinancing or a Planned Refinancing, Project Co will notify the Authority of such intention at least 120 days (or such later date agreed by the Authority, acting reasonably) before the anticipated completion date of such Refinancing and will include with such notice all applicable information then available to Project Co (including any of the information set out below in this Section 5.4 if and to the extent available to Project Co at that time). Project Co will keep the Authority informed of the progress of the proposed Refinancing, will provide the Authority with additional information as it is available, and will consult with and reasonably take into account the views of the Authority during the Refinancing process. Without limiting the foregoing, as soon as reasonably available, and in any event no later than 30 days (or such later date agreed by the Authority, acting reasonably) before the anticipated completion date of such Refinancing, Project Co will provide to the Authority (not necessarily all at the same time):
(a) all proposed revisions to the Senior Financing Agreements;
(b) a copy of the proposed updated Financial Model both before and after the Refinancing;
(c) the basis for the assumptions and calculations used in the proposed updated Financial Model;
(d) particulars of:
(1) any increase in the principal amount of all funding for the Project committed under the Senior Financing Agreements that will result from the proposed Refinancing;
(2) the nature (and estimated amount if reasonably capable of being calculated or estimated) of any increase in any liability or potential liability of the Authority, including on early termination of this Agreement, that would be reasonably likely to arise from the proposed Refinancing;
(3) any effect on Project Co’s ability to perform its obligations under this Agreement;
(4) the terms of the proposed Refinancing;
(5) the lenders and other parties proposed to be involved in the proposed Refinancing; and
(6) the financing instruments to be used to carry out the proposed Refinancing and their key attributes (especially as to those attributes that would or could affect the liability of the Authority on any early termination of this Agreement);
(e) a statement setting out Project Co’s estimate of the resulting Refinancing Gain (if any in the case of a Planned Refinancing), including the Authority’s share thereof expressed in terms of:
(1) the payment described in...
Refinancing Process. If Project Co intends to undertake a Refinancing, Project Co will notify Operations Co of such intention before the anticipated completion date of such Refinancing and will include with such notice all applicable information then available to Project Co in connection therewith. Project Co will promptly provide all other documents and information related to the proposed Refinancing as Operations Co may reasonably request. Project Co will pay to Operations Co the reasonable and proper costs that Operations Co directly incurs in relation to the Refinancing, together with a fee to be agreed, provided that such costs and fee, when aggregated with any costs incurred by either Project Co or the Authority in relation to the Refinancing, do not exceed an amount equal to 2% of the par amount of the redeemed Bonds. For clarity, the amounts payable by Project Co to Operations Co pursuant to this Section 5.4 will be deducted from the amount of the Refinancing Gain payable to the Authority in accordance with Section 5.7 of the Project Agreement.
Refinancing Process. 22.29.1 The Borrower shall:
(a) use commercially reasonable efforts to begin negotiations within one (1) month following the Effective Date with one or more banks or financial institutions for the purpose of obtaining new Financial Indebtedness, the proceeds of which shall be applied to the prepayment and cancellation in full of the Facilities;
(b) use commercially reasonable efforts to conclude the negotiations described in paragraph (a) above, execute all documentation necessary to obtain such new Financial Indebtedness and apply the proceeds therefrom to the prepayment and cancellation in full of the Facilities within three (3) months following the Effective Date; provided that if the Borrower fails to conclude such negotiations, execute such documentation and prepay the Facilities within such three (3) month period, it shall continue to use commercially reasonable efforts to conclude such negotiations, execute such documentation and prepay the Facilities within as short a time as possible; and
(c) promptly provide to the Agent such information relating to the status of the negotiations described in paragraph (a) above as the Agent shall, from time to time, reasonably request.
22.29.2 To satisfy its obligation to use commercially reasonable efforts, the Borrower shall not be required to enter into any agreement for Financial Indebtedness (a) the terms of which provide that the Borrower shall pay interest at a maximum blended average rate greater than LIBOR plus four per cent. (4%) per annum, (b) that contains other terms which are commercially unreasonable or (c) with any Lender.
Refinancing Process. If Project Co intends to undertake a Refinancing, Project Co will notify the Authority of such intention before the anticipated completion date of such Refinancing and will include with such notice all applicable information then available to Project Co in connection therewith. Project Co will promptly provide all other documents and information related to the proposed Refinancing as the Authority may reasonably request.