Commercially Feasible Basis means that, following an Event of Loss or an Expropriation Event, (i) the sum of the proceeds of business interruption insurance, any funds available to be applied to the rebuilding, repair or restoration pursuant to subsection 2.5.3(e), any amounts that the shareholders of all the Joint Venture Companies are irrevocably committed to contribute and the anticipated revenues of the Project during the estimated period of rebuilding, repair or restoration will be sufficient to pay all Debt Service and O&M Costs of the Project during the estimated period of rebuilding, repair or restoration and (ii) the Project upon being rebuilt, repaired or restored can reasonably be expected to produce revenues adequate to pay all Debt Service and O&M Costs of all Joint Venture Companies pursuant to each such Joint Venture Company's respective Shareholder Loan Agreement over the remaining terms of the Loans outstanding of each Joint Venture Company, taking into account any change in projected operating results due to the impairment of any portion of the Project, all without materially affecting the Borrower's Debt Service Coverage Ratio.
Commercially Feasible Basis means that, following a Luannan Event of Loss or an Luannan Expropriation Event, (i) the sum of the proceeds of the business interruption insurance, the moneys held in the Debt Service Fund, any amounts that the Issuer and its Affiliates and the County Partners are irrevocably committed to contribute and the anticipated revenues of the Luannan Facility during the estimated period of rebuilding, repair or restoration will be sufficient to pay all facility restoration costs, Debt Service and O&M Costs of the Luannan Facility during the estimated period of rebuilding, repair or restoration and (ii) the Luannan Facility upon being rebuilt, repaired or restored can reasonably be expected to produce revenues adequate to pay all Debt Service and O&M Costs over the remaining terms of the Securities Outstanding having the longest Stated Maturity, taking into account any change in projected operating results due to the impairment of any portion of the Luannan Facility.
Commercially Feasible Basis means that, following an Event of Loss, an Event of Eminent Domain or Title Event, (i) the sum of the proceeds of business interruption insurance, moneys held in the Debt Service Fund, any amounts that the Partners are irrevocably committed to contribute and anticipated Project Revenues during the estimated period of rebuilding, repair or restoration will be sufficient to pay all Debt Service and Operating Expenses during such estimated period and (ii) the Project upon being rebuilt, repaired or restored can be reasonably expected to produce Project Revenues adequate to pay all Debt Service and Operating Expenses over the term of the VEPCO Power Purchase Agreement taking into account any change in projected operating results due to the impairment of any portion of the Project and any reduction in Debt Service.
Examples of Commercially Feasible Basis in a sentence
The Redemption Date shall be any date during the ninety (90) day period following the date of the Partnership's determination that (x) the Project cannot be rebuilt, repaired or restored to permit operation of the entire Project or a portion thereof on a Commercially Feasible Basis pursuant to Section 6.10(d)(i) or (y) not to rebuild, repair or restore pursuant to Section 6.10(f), as the case may be, (taking into account the notice requirements set forth in Section 7.4).
More Definitions of Commercially Feasible Basis
Commercially Feasible Basis means that, following an Event of Loss or an Event of Eminent Domain, the Project upon being rebuilt, repaired or restored can be reasonably expected to produce Project Revenue adequate to pay all Debt Service and Operating Expenses over the remaining term of the Bonds Outstanding having the longest Stated Maturity, taking into account any change in projected operating results due to the impairment of any portion of the Project and any reduction in Debt Service due to any partial redemption of the Bonds pursuant to Section 7.3(c).
Commercially Feasible Basis means that, following an Event of Loss, an Event of Eminent Domain or Title Event, (i) the sum of the proceeds of the business interruption insurance, the moneys held in the Debt Service Fund, any amounts that the Partners are irrevocably committed to contribute and the anticipated Project Revenues during the estimated period of rebuilding, repair or restoration will be sufficient to pay all Debt Service and Operating Expenses during the estimated period of rebuilding, repair or restoration and (ii) the Project upon being rebuilt, repaired or restored can be reasonably expected to produce Project Revenues adequate to pay all Debt Service and Operating Expenses over the remaining terms of the Bonds Outstanding having the longest Stated Maturity, taking into account any change in projected operating results due to the impairment of any portion of the Project.
Commercially Feasible Basis means that, following an Event of Loss or an Expropriation Event, (i) the sum of the proceeds of business interruption insurance, any funds available to be applied to the rebuilding, repair or restoration pursuant to subsection 2.6.3(e), any amounts that the shareholders of all the Joint Venture Companies are irrevocably committed to contribute and the anticipated revenues of the Facility during the estimated period of rebuilding, repair or restoration will be sufficient to pay all Facility restoration costs, Debt Service and O&M Costs of the Facility during the estimated period of rebuilding, repair or restoration and (ii) the Facility upon being rebuilt, repaired or restored can reasonably be expected to produce revenues adequate to pay all Debt Service and O&M Costs of all Joint Venture Companies pursuant to each such Joint Venture Company's respective JV Shareholder Loan Agreement over the remaining terms of the Loans outstanding of each Joint Venture Company, taking into account any change in projected operating results due to the impairment of any portion of the Facility, all without materially affecting the ability of the Joint Venture Companies to repay their Shareholder Loan or the ability of the Borrower to repay the Loans.
Commercially Feasible Basis means that, following an Event of Loss, (i) the sum of the proceeds of business interruption insurance and revenues of the Issuer during the estimated period of rebuilding, repair or restoration will be sufficient to make all payments, if any, of principal, interest and fees required to be made in respect of Senior Debt during the estimated period of rebuilding, repair or restoration and (ii) the Facilities, after the Affected Property has been rebuilt, repaired or restored, can be expected to perform in a manner consistent with their performance prior to the Event of Loss.
Commercially Feasible Basis means that, following a Casualty --------------------------- Event, an Expropriation Event or a Title Event, (i) the Casualty Proceeds, the Expropriation Proceeds or the Title Proceeds, as the case may be, together with any other amounts that the Issuer is irrevocably committed, or irrevocably commits, to contribute to Restoring all or a portion, as the case may be, of the Project, will be sufficient to permit such Restoration of the Project, (ii) the sum of (a) the proceeds of the business interruption insurance which the Issuer shall have received, (b) the moneys available in the O&M Account, (c) any amounts that the Issuer is irrevocably committed, or irrevocably commits, to contribute (without duplication of such amounts referred to in clause (i) above) and (d) the anticipated Operating Revenues during the estimated period of Restoration will be sufficient to pay all Debt Service and O&M Costs (taking into account the limitation on the use of such funds set forth in the Deposit and Disbursement Agreement) during the estimated period of Restoration, and (iii) the Issuer shall reasonably believe that the Project can be operated in accordance with the provisions of the Project Documents that are then in effect or that are expected to be in effect after the completion of the Restoration.
Commercially Feasible Basis means that, following a Casualty Event, an Expropriation Event or a Title Event, (i) the Casualty Proceeds, the Expropriation Proceeds or the Title Proceeds, as the case may be, together with any other amounts that the Partnership is or the partners of the Partnership are irrevocably committed to contribute pursuant to support arrangements to Restoring all or a portion, as the case may be, of the Project, will be sufficient to permit such Restoration of the Project, (ii) the sum of (a) the proceeds of the business interruption insurance which the Partnership shall have received, (b) the moneys available in the Construction Account and the O&M Account, (c) any amounts that the Partnership is or the partners of the Partnership are irrevocably committed to contribute pursuant to support arrangements (without duplication of such amounts referred to in clause (i) above) and (d) the anticipated Operating Revenues during the estimated period of Restoration will be sufficient to pay all Senior Debt Service and O&M Costs (taking into account the limitation on the use of such funds set forth in the Common Agreement) during the estimated period of Restoration, (iii) the Project upon being Restored can be reasonably expected to produce Operating Revenues adequate to maintain (x) a Projected Senior Debt Service Coverage Ratio, for the period of four consecutive complete fiscal quarters of the Partnership commencing with the fiscal quarter of the Partnership beginning on or most recently after the projected date of Restoration, equal to or greater than 1.3 to 1.0 during the 100% PPA Period and the Two-Thirds PPA Period and 1.75 to 1.0 during the One-Third PPA Period and the Merchant Period, and (y) a Projected Senior Debt Service Coverage Ratio, for each complete Fiscal Year commencing with the Fiscal Year beginning on or most recently after the projected date of Restoration, equal to or greater than 1.4 to 1 during the 100% PPA Period and the Two-Thirds PPA Period and 2.0 to 1.0 during the One-Third PPA Period and the Merchant Period, in each case taking into account any change in projected operating results due to the impairment of any portion of the Project and any reduction in Debt Service due to any partial redemption of the Bonds pursuant to Section 6.3 of this Indenture or any partial prepayment of the amounts outstanding under the VEPCO L/C Agreement, and (iv) the Partnership shall reasonably believe that the Project can be operated in accordance with the provis...