Advance Model means a model in the form of Exhibit E forecasting the Net Cash Flows to the Borrower, in each case: (a) calculated in accordance with and adjusted for the assumptions set forth in Appendix 9, (b) adjusted to exclude Excluded Revenues, (c) accounting for the applicable System Information and (d) calculated in accordance with the Sizing Parameters, in form and substance satisfactory to the Lenders, in consultation with the Borrower. In addition, the Advance Model will be updated on the first Borrowing Date when such model is delivered and on each subsequent Borrowing Date to reflect any modifications required due to changes in System Information of the Borrower Projects comprising the requested Loans or revised Net Cash Flow based on the System Information for the Borrower Projects.
Advance Model means a model in respect of all Tax Equity Funds and the Wholly-Owned Subsidiaries in the form of Exhibit C (which Exhibit C may be updated from time to time with the addition of new Tax Equity Funds or Solar Assets in accordance with this Agreement), forecasting the Net Cash Flows to each Managing Member related to each Tax Equity Fund (including in the case of a Partnership Flip Structure, before and after the expected “Flip Date” and in the case of an Inverted Lease Structure, before and after the expiration of the Master Lease Agreement) and to each Wholly-Owned Subsidiary, and all items necessary to calculate the Borrowing Base (including Scheduled Host Customer Payments, Scheduled PBI Payments, Allocated Services Provider Fees and Scheduled Tax Equity Investor Distributions), in each case: (i) calculated in accordance with and adjusted for the Assumptions, (ii) excluding Excluded Revenues, (iii) accounting for the applicable System Information and (iv) with respect to each Tax Equity Fund and each Wholly-Owned Subsidiary financed pursuant to this Agreement on and after the Closing Date, in form and substance reasonably satisfactory to the Administrative Agent, the Lenders and the Borrower. For the avoidance of doubt, each Advance Model will be updated as of the date such Advance Model is delivered (A) to reflect any modifications required due to changes in System Information, (B) to remove any Solar Assets that are not Eligible Solar Assets, and (C) to reflect changes to the expected Tax Equity Investor Distributions, as reflected in the most recent tracking models delivered to the Tax Equity Investors under the Tax Equity Opco LLC Agreements. In addition, if any Tax Equity Fund is party to a Non-Performing Breach Sweep Tax Credit Sale Contract, the Advance Model shall be updated as of the date each such Advance Model is delivered, without duplication of any update pursuant to clause (C) of the preceding sentence, to reflect changes to the expected Tax Equity Investor Distributions assuming the occurrence of a Limited Step-Up Event arising from the breach by the Tax Credit Purchaser party to such Non-Performing Breach Sweep Tax Credit Sale Contract (irrespective, in the case of a Non-Performing Breach Sweep Tax Credit Sale Contract described in clause (i) thereof that such Tax Credit Purchaser may be performing its purchase obligations under such Non-Performing Breach Sweep Tax Credit Sale Contract). For the avoidance of doubt, for purposes of an upd...
Advance Model has the meaning set forth in Appendix 2.
Examples of Advance Model in a sentence
The next table shows the difference between expected loss and observed loss resulting from the Internal Advance Model for Credit Cards from 1Q19.
The Borrower shall have delivered an updated Advance Model (reasonably acceptable to the Administrative Agent) and Data Tape File, incorporating each Solar Asset owned by a Wholly-Owned Subsidiary or Tax Equity Fund as of such date, in form and substance reasonably satisfactory to the Administrative Agent.
The Administrative Agent shall have received a true and complete Target Fund Matrix, Advance Model and Tax Equity Model for the Initial Tax Equity Fund and such other information related to the Initial Tax Equity Fund (including the Solar Assets owned by the Initial Tax Equity Fund) and any other Borrower Subsidiaries as the Administrative Agent may reasonably request.
The strobe shall be a System Sensor SpectrAlert Advance Model SR listed to UL 1971 and shall be approved for fire protective service.
The Borrowing Notice, as well as the applicable Borrowing Base Certificate and the Advance Model, shall be delivered to the Administrative Agent in accordance with Section 2.1(a).
More Definitions of Advance Model
Advance Model means a model in the form of Exhibit E forecasting the Net Cash Flows to the Borrower, in each case:
Advance Model means a model in respect of all Subject Funds in the form of Schedule 1.01(H) (which Schedule 1.01(H) may be updated from time to time with the addition of new Subject Funds or Generation Systems in accordance with this Agreement), forecasting the Net Cash Flows to each Manager Subsidiary under each Subject Fund (including in the case of a Partnership Flip Structure, before and after the expected "Flip Date," and in the case of an Inverted Lease Structure, before and after the expiration of the master lease), and the net cash flows from Hedged SRECs and Unhedged SRECs to the Borrower and each Manager Subsidiary, in each case: (i) calculated in accordance with and adjusted for the Assumptions, (ii) adjusted to exclude Excluded Revenues, (iii) accounting for the applicable System information, and (iv) with respect to each Subject Fund established after the Effective Date, in form and substance consistent with the “Advance Model” used in connection with the Aggregation Facility as in effect on the Effective Date. Each Advance Model delivered hereunder will be updated as of the date such model is delivered to reflect any modifications required due to changes in System Information or Revised Net Cash Flow. Each Advance Model shall identify Generation Systems that have become Defaulted Systems and Subject Funds that have become Watched Funds.
Advance Model means a model in respect of all Subject Funds in the form of Exhibit H (which Exhibit H may be updated from time to time with the addition of new Subject Funds or Systems pursuant to Section 2.10, 3.3(a), or in accordance with Section 9.12(a)), forecasting the Net Cash Flows to each Managing Member under each Subject Fund (including in the case of a Partnership Flip Structure, before and after the expected “Flip Date,” and in the case of an Inverted Lease Structure or Modified Inverted Lease Structure, before and after the expiration of the master lease), in each case: (i) calculated in accordance with and adjusted for the Assumptions, (ii) adjusted to exclude Excluded Revenues, (iii) accounting for the applicable System Information, (iv) adjusted for a Tax Loss Policy reserve (if applicable), and (v) with respect to each Subject Fund financed pursuant to the Loan Agreement after the Closing Date, in form and substance reasonably satisfactory to the Administrative Agent as determined in consultation with the Lenders and the Second AR Loan Agreement – Appendices [***] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND FILED SEPARATELY WITH THE COMMISSION. Borrower. In addition, each Advance Model will be updated as of the date such model is delivered to reflect any modifications required due to changes in System Information or Revised Net Cash Flow. Each Advance Model shall identify Systems that have become Defaulted Systems and Subject Funds that have become Watched Funds.
Advance Model means a model in respect of all Tax Equity Funds and the Solar Asset Subsidiaries in the form of Exhibit C (which Exhibit C may be updated from time to time with the addition of new Tax Equity Funds, TPO Solar Projects or [***] in accordance with this Agreement), forecasting the Net Cash Flows to each Solar Asset Subsidiary and, the Net Cash Flows to each Managing Member related to each Tax Equity Fund (including in the case of a Partnership Flip Structure, before and after the expected “Flip Date,” and in the case of an Inverted Lease Structure, before and after the expiration of the master lease), and all items necessary to calculate the Borrowing Base (including Scheduled Host Customer Payments, Allocated Services Provider Fees, and Scheduled Tax Equity Investor Distributions), in each case: (i) calculated in accordance with and adjusted for the Assumptions, (ii) excluding Excluded Revenues, (iii) accounting for the applicable System Information and (iv) with respect to each Tax Equity Fund and each Solar Asset Subsidiary financed pursuant to this Agreement after the Closing Date, in form and substance reasonably satisfactory to the Administrative Agent, the Lenders and the Borrower. For the avoidance of doubt, each Advance Model will be updated as of the date such model is delivered (A) to reflect any modifications required due to changes in System Information, (B) to remove any Solar Assets that are not Eligible Solar Assets, and (C) to reflect changes to anticipated Tax Equity Investor Share of TPO ADSAB as reflected in the most recent tracking models.
Advance Model means a model in respect of all Subject Funds in the form of Exhibit H (which Exhibit H may be updated from time to time with the addition of new Subject Funds or Systems pursuant to Section 2.10, 3.3(a), or in accordance with Section 9.12(a)), forecasting the Net Cash Flows to each Managing Member under each Subject Fund (including in the case of a Partnership Flip Structure, before and after the expected “Flip Date,” and in the case of an Inverted Lease Structure or Modified Inverted Lease Structure, before and after the expiration of the master lease), in each case: (i) calculated in accordance with and adjusted for the Assumptions, (ii) adjusted to exclude Excluded Revenues, (iii) accounting for the applicable System Information and (iv) with respect to each Subject Fund financed pursuant to the Loan Agreement after the Closing Date, in form and substance reasonably satisfactory to the Administrative Agent as determined in consultation with the Lenders and the Borrower. In addition, each Advance Model will be updated as of the date such model is delivered to reflect any modifications required due to changes in System Information or Revised Net Cash Flow. Each Advance Model shall identify Systems that have become Defaulted Systems and Subject Funds that have become Watched Funds. [***] DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT FILED SEPARATELY WITH THE COMMISSION.
Advance Model means the model (delivered by the Borrower to the Administrative Agent and the Lenders from time to time) in respect of all Financing Funds and SAP, forecasting the Net Cash Flows to each Managing Member related to each Financing Fund (including before and after the expected “flip date”) and with respect to the SAP Solar Assets, and all items necessary to calculate the Borrowing Base (including Scheduled Hedged SREC Payments, Scheduled Host Customer Payments, Scheduled Managing Member Distributions, Scheduled PBI Payments, Scheduled Tax Equity Investor Distributions and Tax Equity Investor Distribution Reduction Amounts), in each case: (i) calculated in accordance with and adjusted for the assumptions agreed to by the Borrower and the Administrative Agent and (ii) in form and substance reasonably satisfactory to the Administrative Agent, the Lenders and the Borrower. For the avoidance of doubt, each Advance Model will be updated as of the date such Advance Model is delivered (A) to remove any Solar Assets that are not Eligible Solar Assets and (B) to reflect changes to the expected Tax Equity Investor Distributions, as reflected in the most recent tracking or latest final “true-up” models delivered to (and, in the case of true-up models, agreed to in writing by) the Tax Equity Investors under the Financing Fund LLCAs. In addition, if any Financing Fund is a party to an ITC Purchase Agreement, the Advance Model shall assume that (i) (x) with respect to any ITCs that were sold, such ITCs were sold at the actual price therefor under the related ITC Purchase Agreement and (y) any as-of-yet unsold ITCs are sold to the related purchaser at the lowest possible price and on the latest possible date, in each case, as set forth in and for each such ITC Purchase Agreement, but taking into account any backstop commitments to purchase such ITCs from the related Tax Equity Investor or other Person and (ii) to the extent Scheduled Managing Member Distributions can be reduced as a result of provisions provided in a Tax Equity Financing Document (including any Tax Purchase Agreement) and the event that would cause such reduction has occurred, the related Scheduled Managing Member Distributions will reflect those reductions irrespective of whether or not the reductions pursuant to such provisions shall have occurred thereunder and without giving effect to any cure periods or required notices related thereto; provided, however, for purposes of an update to the Advance Model,...
Advance Model means a model in respect of all Subject Funds in the form of Exhibit H (which Exhibit H may be updated from time to time with the addition of new Subject Funds or Systems pursuant to Section 2.10, 3.3(a), or in accordance with Section 9.12(a)), forecasting the Net Cash Flows to each Managing Member under each Subject Fund (including in the case of a Flip Structure, before and after the expected “Flip Date,” and in the case of an Inverted Lease Structure, before and after the expiration of the master lease), in each case: (i) calculated in accordance with and adjusted for the Assumptions, (ii) adjusted to exclude Excluded Revenues, (iii) accounting for the applicable System Information and (iv) with respect to each Subject Fund financed pursuant to the Loan Agreement after the Closing Date, in form and substance reasonably satisfactory to the Administrative Agent as determined in consultation with the Lenders and the Borrower. In addition, each Advance Model will be updated as of the date such model is delivered to reflect any modifications required due to changes in System Information or Revised Net Cash Flow. Each Advance Model shall identify Systems that have become Defaulted Systems and Subject Funds that have become Watched Funds.