Base Financial Model definition

Base Financial Model is amended by deleting it in its entirety and replacing it with the following:

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Base Financial Model means the financial model generated and computed by spreadsheet software as submitted in the Developer’s Proposal and subsequently replaced in this Agreement, pursuant to the Project Agreement Amendment, a copy of which replacement model is attached as Schedule 26 (Base Financial Model).”

Base Financial Model means, at any particular time prior to the review by the Independent Technical Consultant and the Required Lenders of an updated Base Financial Model, the initial Base Financial Model Project dated June 5, 2014 with file name EDC Financial Model June52014.xls as emailed by ▇▇. ▇▇▇▇ ▇▇▇▇▇▇▇ to Ms. ▇▇▇▇▇▇ ▇▇▇▇ on June 19, 2014 at 11:45 a.m. and, thereafter, the most recently updated Base Financial Model delivered by the Borrower to the Agent which has been reviewed by the Independent Technical Consultant and the Required Lenders. The Base Financial Model shall be a fully functional Excel-based computer financial model for the Project which is a comprehensive capital and cash flow forecast reflecting the economic terms of the Material Project Documents for the design, construction, engineering, commissioning, start-up, maintenance and operation of the Project, and shall include forecasts and projection of revenues, expenses, maintenance costs, interest, fees and principal repayments arising under the Loan Facility, financial covenant calculations (including demonstrating that the underlying economics of the Material Project Documents are able to satisfy the Debt Service Coverage Ratio for each year therein), and is accompanied by details of all assumptions, calculations and methodology used in their compilation and any other documentation necessary or desirable to operate the Base Financial Model.

Examples of Base Financial Model in a sentence

The Base Financial Model attached in digital format to Schedule 26 (Base Financial Model) to the Project Agreement is deleted it in its entirety and replaced with the financial model attached in digital format as Exhibit A to this Amendment.
As part of this process the Base Financial Model shall be solved for the lowest possible change in the Base CPP that does not result in a breach of any of the Key Ratios.
The Base Financial Model (including the accuracy of the financial inputs and assumptions), shall be acceptable to the Lenders.
The Custodian shall hold all copies of the Base Financial Model delivered in accordance with Clause 2.1 in safe custody and stored in a vault or secure deposit facility.
The Base Financial Model shall demonstrate that the underlying economics of the Material Project Documents are able to satisfy at all times on and after the Commercial Operation Date a Debt Service Coverage Ratio equal to or greater than 1.90:1.
The statements of opinion or belief, projections and forecasts in the Base Financial Model, and the assumptions on which they are based and the values given to those assumptions, were arrived at in good faith by the Borrower, after due and careful consideration and enquiry and based on reasonable grounds consistent with the proposal submitted by or on behalf of the Borrower to the Lenders in respect of the Project, and were fair and reasonable in the circumstances prevailing at the time of preparation.
The Parties shall use the Base Financial Model to calculate the changes contemplated by Sections 2 and 3 of this Annex A, positive or negative, in the Base CPP.
Prior to the initial delivery and any subsequent delivery of the Base Financial Model to the Custodian by the Contractor in accordance with Clause 86 of the Project Agreement the Councils and the Contractor will verify the identity of two copies of the then current Base Financial Model on disc and 2 hard copies which shall be copies of the Base Financial Model which can be found at Schedule 13 of the Project Agreement (as amended from time to time) in accordance with the terms of the Project Agreement.
The updated Base Financial Model shall be adjusted for any performance shortfalls as demonstrated by the applicable performance test results, and the actual annualized operating expenses incurred, including the updated estimate for all Taxes, if any, and forecasted major maintenance requirements which will be based on that actual operating availability through the commissioning period as confirmed by the Independent Technical Consultant.
The Borrower shall not change the Base Financial Model without the consent of the Agent (acting on the instructions of the Required Lenders) after consultation with and approval by the Independent Technical Consultant of such change, except for a change that is specifically contemplated in this Agreement.

More Definitions of Base Financial Model

Base Financial Model means, at any particular time prior to the review by the Independent Technical Consultant and the Required Lenders of an updated Base Financial Model, the initial Base Financial Model Project dated June 5, 2014 with file name EDC Financial Model June52014.xls as emailed by Ms. Anne Waddell to Ms. Ashley Glen on June 19, 2014 at 11:45 a.m. and, thereafter, the most recently updated Base Financial Model delivered by the Borrower to the Agent which has been reviewed by the Independent Technical Consultant and the Required Lenders. The Base Financial Model shall be a fully functional Excel-based computer financial model for the Project which is a comprehensive capital and cash flow forecast reflecting the economic terms of the Material Project Documents for the design, construction, engineering, commissioning, start-up, maintenance and operation of the Project, and shall include forecasts and projection of revenues, expenses, maintenance costs, interest, fees and principal repayments arising under the Loan Facility, financial covenant calculations (including demonstrating that the underlying economics of the Material Project Documents are able to satisfy the Debt Service Coverage Ratio for each year therein), and is accompanied by details of all assumptions, calculations and methodology used in their compilation and any other documentation necessary or desirable to operate the Base Financial Model.

Base Financial Model means a financial model in a form and substance substantially similar to the model delivered by the Sponsor to the Trustee on or prior to the Issue Date contemplating the issuance of each of the Notes.