Common use of SPE Equity Owner Requirements Clause in Contracts

SPE Equity Owner Requirements. (i) If “Required” is selected in the SPE Equity Owner table in Section 1.02, then Borrower will be required to maintain an SPE Equity Owner in its organizational structure during the term of the Loan and this Section 6.13(b) will apply. If, however, “Not applicable” is selected in the SPE Equity Owner table in Section 1.02, then Borrower will not be required to maintain an SPE Equity Owner in its organizational structure during the term of the Loan and all references to SPE Equity Owner in this Loan Agreement are not applicable.

SPE Equity Owner Requirements. (i) If “Required” is selected in the SPE Equity Owner table in Section 1.02, then Borrower will be required to maintain an SPE Equity Owner in its organizational structure during the term of the Project Loan and this Section 6.13(b) will apply. If, however, “Not applicable” is selected in the SPE Equity Owner table in Section 1.02, then Borrower will not be required to maintain an SPE Equity Owner in its organizational structure during the term of the Project Loan and all references to SPE Equity Owner in this Loan Continuing Covenant Agreement are not applicable.