Common use of System Financing Clause in Contracts

System Financing. Within sixty (60) calendar days of the Effective Date, Licensee shall submit to the Judicial Council and the SPWB evidence of pending or planned financing sought by Licensee to be secured by the System. In addition, prior to any refinancing or restructuring of the financing arrangements, Licensee shall comply with the requirements of this SLA. Any financing to be secured by any personal property interest in the SLA or the SPPA shall be subject to approval by the Judicial Council and the SPWB, which approval shall not be unreasonably withheld. The Judicial Council and the SPWB shall use reasonable efforts to complete its review and approval of the proposed form of financing within thirty (30) days of receipt of the details of the planned financing. As a part of the submittal, Licensee shall submit an executed Lender Estoppel Certificate. If the Judicial Council or the SPWB do not approve such financing for any reason, this SLA and the SPPA may be cancelled by the Judicial Council or Licensee if Licensee is unable to resolve the concerns for the disapproval; the canceling Party must notice the other Party or Parties in writing within thirty (30) calendar days of the notice of disapproval of the financing transaction in order for cancellation to be effective.

System Financing. 5.3.1 Within sixty (60) calendar days of the Effective Date, Licensee shall submit to the Judicial Council and the SPWB evidence of pending or planned financing sought by Licensee to be secured by the System. In addition, prior to any refinancing or restructuring of the financing arrangements, Licensee shall comply with the requirements of this SLA. . 5.3.2 Any financing to be secured by any personal property interest in the SLA or the SPPA Lease shall be subject to approval by the Judicial Council and the SPWB, which approval shall not be unreasonably withheld. The Judicial Council and the SPWB shall use reasonable efforts to complete its review and approval of the proposed form of financing within thirty (30) days of receipt of the details of the planned financing. As a part of the submittal, Licensee shall submit an executed Lender Estoppel Certificate. If the Judicial Council or the SPWB do not approve such financing for any reason, this SLA and the SPPA Lease may be cancelled by the Judicial Council or Licensee if Licensee is unable to resolve the concerns for the disapproval; the canceling Party must notice the other Party or Parties in writing within thirty (30) calendar days of the notice of disapproval of the financing transaction in order for cancellation to be effective.

System Financing. 5.3.1. Within sixty (60) calendar days of the Effective Date, Licensee shall submit to the Judicial Council and the SPWB evidence of pending or planned financing sought by Licensee to be secured by the System. In addition, prior to any refinancing or restructuring of the financing arrangements, Licensee shall comply with the requirements of this SLA. 5.3.2. Any financing to be secured by any personal property interest in the SLA or the SPPA shall be subject to approval by the Judicial Council and the SPWB, which approval shall not be unreasonably withheld. The Judicial Council and the SPWB shall use reasonable efforts to complete its review and approval of the proposed form of financing within thirty (30) days of receipt of the details of the planned financing. As a part of the submittal, Licensee shall submit an executed Lender Estoppel Certificate. If the Judicial Council or the SPWB do not approve such financing for any reason, this SLA and the SPPA may be cancelled by the Judicial Council or Licensee if Licensee is unable to resolve the concerns for the disapproval; the canceling Party must notice the other Party or Parties in writing within thirty (30) calendar days of the notice of disapproval of the financing transaction in order for cancellation to be effective.