Common use of Release of Amounts in Supplemental Base Equity Funding Account Clause in Contracts

Release of Amounts in Supplemental Base Equity Funding Account. On the date that the Borrower has funded the Debt Service Reserve Account in an amount equal to or exceeding the amount shown in the Base Case Projections as of the Financial Closing Date as being the highest projected semi-annual payment of Debt Service during the term of the Guaranteed Loan (the “Supplemental Base Equity Commitment Security Release Date”), the Supplemental Base Equity Commitment shall terminate and (i) DOE shall promptly take all action required to release all Supplemental Base Equity Commitment Balance Security, and (ii) DOE shall instruct the Collateral Agent in accordance with the Common Agreement to pay to BrightSource Ivanpah any remaining balance in the Supplemental Base Equity Funding Account.

Appears in 7 contracts

Samples: Equity Funding Agreement, Equity Funding Agreement (BrightSource Energy Inc), Equity Funding Agreement (BrightSource Energy Inc)

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