Common use of Requests for Funding Clause in Contracts

Requests for Funding. (a) In order to receive a First Disbursement or Subsequent Disbursement, the Recipient must submit a Request for Funding to the IESO as required by Section 5.3. (b) Requests for Funding may be submitted no more frequently than quarterly or as otherwise provided for in Schedule “D”. (c) The IESO may approve or refuse a Request for Funding, in its sole and absolute discretion. (d) Without limiting the generality of Section 5.2(c), in the event that the Recipient is in Default under any other agreement, if any, between the Recipient and any of the IESO, its predecessor entities, or any of their third party funds managers, whether entered into before or after the Contract Start Date, the IESO may refuse a Request for Funding, in its sole and absolute discretion, and may continue to refuse such Request for Funding on this basis until such Default is cured in accordance with such other agreement. (e) If the Request for Funding is not approved by the IESO, the IESO will use commercially reasonable efforts to notify the Recipient of the IESO’s refusal of the Request for Funding within a reasonable time of receipt of the Request for Funding. Should the IESO refuse the Request for Funding, the Recipient must comply with any instructions from the IESO, amend its Request for Funding, and, unless otherwise instructed by the IESO, re-submit it to the IESO within ten (10) Business Days of receiving such instructions from the IESO. (f) If the IESO approves the Request for Funding, the IESO will endeavour to provide the Recipient with the Disbursement pursuant to Section 5.3 within a reasonable time following receipt of the Request for Funding.

Requests for Funding. (a) In order to receive a First Disbursement or Subsequent Disbursement, the Recipient must submit a Request for Funding to the IESO and any supporting documentation as required by Section Sections 5.3. (b) , 5.4 and 5.5, as applicable. Requests for Funding may be submitted no more frequently than quarterly or as otherwise provided for in Schedule “D”. (c) . The IESO may approve or refuse a Request for Funding or any portion of a Request for Funding, in its sole and absolute discretion. (d) . Without limiting the generality of Section 5.2(c), in the event that the Recipient is in Default under any other agreement, if any, between the Recipient and any of the IESO, its predecessor entities, or any of their third party funds managers, whether entered into before or after the Contract Start Date, the IESO may refuse a Request for Funding, in its sole and absolute discretion, and may continue to refuse such Request for Funding on this basis until such Default is cured in accordance with such other agreement. (e) . If the Request for Funding is not approved by the IESO, the IESO will use commercially reasonable efforts to notify the Recipient of the IESO’s refusal of the Request for Funding within a reasonable time of receipt of the Request for Funding. Should the IESO refuse the Request for Funding, the Recipient must comply with any instructions from the IESO, amend its Request for Funding, and, unless otherwise instructed by the IESO, re-submit it to the IESO within ten (10) Business Days of receiving such instructions from the IESO. (f) . If the IESO approves the Request for Funding, the IESO will endeavour to provide the Recipient with the Disbursement pursuant to Section 5.3 Sections 5.3, 5.4 and 5.5 within a reasonable time following receipt of the Request for Funding. If the IESO provides funds to the Recipient prior to the Recipient’s immediate need for the funds, the Recipient must place the funds in a chequing account in the name of the Recipient at a Canadian financial institution and must not use the funds for any purpose other than as expressly set out in this Funding Agreement.