AGREEMENT PROVIDING THE KEY TERMS AND CONDITIONS FOR THE ADDITIONAL FEDERAL LOAN GUARANTEE BY HER MAJESTY THE QUEEN IN RIGHT OF CANADA FOR THE LOWER CHURCHILL PROJECTSFederal Loan Guarantee Agreement • March 30th, 2017 • Newfoundland and Labrador
The Lower Churchill Projects (the "Projects" as defined in Section 1.1 below) rely in part on third-party debt financing for purposes of funding the construction costs of the Projects. In 2013, the Federal Government provided a Federal Loan Guarantee (the "FLG") to support the construction and operation of the Projects in view of the national and regional significance, economic and financial merit of the Projects and their contribution to significantly reducing greenhouse gas emissions once they are completed and thereby significantly enhanced the credit quality of the FLG Debt (as hereinafter defined).
FEDERAL LOAN GUARANTEE BY HER MAJESTY THE QUEEN IN RIGHT OF CANADA FOR THE DEBT FINANCING OF THE LOWER CHURCHILL RIVER PROJECTSFederal Loan Guarantee Agreement • December 3rd, 2012 • Newfoundland and Labrador
Nalcor Energy (“Nalcor”), Emera Inc. (“Emera”), the Province of Newfoundland and Labrador (“NL”), and the Province of Nova Scotia (“NS”) have informed Her Majesty the Queen in Right of Canada (“Canada”) (all collectively called the “Parties”) that Nalcor and Emera or their affiliates intend to develop, construct and operate, with the support of NL and NS, the Muskrat Falls Generation Facility, Labrador Transmission Assets, Labrador Island Link, and Maritime Link Projects (the “Projects”). Canada, NL, and NS subsequently signed a Memorandum of Agreement to support the Projects on August 19, 2011 (the “MOA”).
