Cost Overrun Facility definition

Cost Overrun Facility means any committed credit facility made available to the Company for the purposes of funding capital cost overruns and which has been made available on terms and conditions, and pursuant to documentation, acceptable to the Collateral Agent (acting on the instructions of the Majority Purchasers).
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Cost Overrun Facility has the meaning specified in the preliminary statements to this Agreement.
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Cost Overrun Facility or “COF” means the $25 million cost overrun facility, which was subsequently amended to
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Examples of Cost Overrun Facility in a sentence

  • The debt elements of the funding package include Convertible Loan Notes (US$65 million), a Cost Overrun Facility (US$25 million) and a Senior Debt Facility (US$346.2 million).Based on current commitments entered into by the Group, and following the satisfaction of all material conditions precedent, the funds from the convertible loan notes and the royalty are expected to be drawn down in March 2022.

  • Each Borrowing of Loans shall be in a principal amount of (x) with respect to the Project Finance Facility, U.S.$2,000,000 or a whole multiple of U.S.$500,000 in excess thereof or (y) with respect to the Cost Overrun Facility, U.S.$1,000,000 or a whole multiple of U.S.$500,000 in excess thereof; provided that such limits shall not apply to the final Borrowing under a Debt Facility and such final Borrowing may be in an aggregate amount equal to the unused Commitments under such Debt Facility at such time.

  • During the period ended March 31, 2013 the Company mandated Nedbank Capital (“Nedbank”) and Rand Merchant Bank (“RMB”) to arrange a Project Debt Finance Facility of up to US$100 million, together with an associated US$8 million Cost Overrun Facility (together “the Facilities”), to support the development of the Company’s New Liberty Gold Project.

  • The Company has a Term Loan Facility and a Cost Overrun Facility in place to construct the Gahcho Kué Project The Company's ability to achieve and maintain profitability and positive cash flow is dependent upon the Company's ability to develop and achieve profitable operations at the Gahcho Kué mine.

  • The $20 million available under the Senior Secured Loan, Tranche B forms part of a $48 million cost over-run facility, $28,000,000 of which is no longer available as a result of the Corporation and CDPQ terminating the COF as of December 31, 2016 (see also “Unsecured Cost Overrun Facility with COF Warrants” below), which SDCI can use only for construction and development costs at the Renard Diamond Mine, subject to certain conditions precedent.

  • As set out in Section 3.10 below, to the extent the capital cost of the Kwale Project increases as a consequence of variations in the A$:US$ exchange rate, it is expected the increase will be covered within the US$20 million capital cost contingency which will be funded (if required) by the US$20 million Cost Overrun Facility (see details in Section 8.3 of this Prospectus).

  • The Cost Overrun Facility has the following key terms:  To be repaid (if drawn) pro-rata with Tranche A. To carry an additional 0.5% per annum margin over the Senior Debt Facility on drawn amounts. The same upfront fee as the Senior Debt Facility (being a 2.5% upfront fee payable in various stages, the first being 60 days following the receipt of credit approvals). Commitment fees of 2.0% per annum payable on undrawn amounts from the signing date of the loan documents.

  • The Cost Overrun Facility will be used to fund qualifying capital cost overruns in the development and construction of the Kwale Project.

  • Interest The interest on each facility is based on the Secured Overnight Financing Rate (SOFR) plus a margin as set out below: Term Loan Facility Prior to Project Completion: SOFR + 8% Post Project Completion: SOFR + 6.5% Revolving Credit Facility SOFR + 6% Cost Overrun Facility SOFR + 9.25% Bank Guarantee fees 1.5% of the aggregate outstanding amount of each Bank Guarantee.

  • Senior Project Finance A Project Finance facility of up to US$625m together with a Cost Overrun Facility of US$40m, both to be provided by a syndicate of international banks (“the Project Finance Lenders”) which shall benefit from a first ranking security package in respect of the assets of MMB and related equity and subordinated debt.


More Definitions of Cost Overrun Facility

Cost Overrun Facility means the $25 million cost overrun facility;
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Cost Overrun Facility means the cost overrun facility agreement in the amount of US$25 million to be entered into by the Company and Orion;
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Cost Overrun Facility means the dollar cost overrun facility referred to in Section 2.2 (Grant of the Cost Overrun Facility).
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Related to Cost Overrun Facility

  • Cost Overrun means an obligation exceeding the maxi- mum capital expenditure authorized by an approval.

  • Project Costs means the costs of the construction, acquisition or equipping of the Project, as further described in the Project Budget, and such other costs as may be approved in writing by the Department, provided such costs are permitted by the Act.

  • L/C Facility means the letter of credit facility established pursuant to Article III.

  • Production facility means a facility in California at which gasoline or CARBOB is produced. Upon request of a producer, the executive officer may designate, as part of the producer's production facility, a physically separate bulk storage facility which (A) is owned or leased by the producer, and (B) is operated by or at the direction of the producer, and (C) is not used to store or distribute gasoline or CARBOB that is not supplied from the production facility.

  • Construction Debt means debt incurred to fund (a) all or a portion of a Capital Improvement, (b) interest payments (including periodic net payments under related interest rate swap agreements) and related fees on other Construction Debt or (c) distributions (including incremental Incentive Distributions) on Construction Equity.

  • Solar PV Project means the solar Photo Voltaic Power project that uses sunlight for direct conversion into electricity through Photo Voltaic technology.

  • LNG facility means a terminal which is used for the liquefaction of natural gas or the importation, offloading, and re-gasification of LNG, and includes ancillary services and temporary storage necessary for the re-gasification process and subsequent delivery to the transmission system, but does not include any part of LNG terminals used for storage;

  • Generating Facility means the Generating Unit(s) comprising Seller’s power plant, as more particularly described in Section 1.02 and Exhibit B, including all other materials, equipment, systems, structures, features and improvements necessary to produce electric energy and thermal energy, excluding the Site, land rights and interests in land.

  • Project Facility means facility being one or more of the following facilities as specified in the Special Conditions of Contract, being developed in accordance with the Project and the Detailed Project Implementation Report and includes all its buildings, equipment, facilities, software and systems and includes without limitation, where the circumstances so require, any expansion thereof from time to time and may include any new location to be separately mentioned in the Special Conditions of Contract.

  • Production Facilities (7 9) means "production equipment" and specially designed software therefor integrated into installations for "development" or for one or more phases of "production".

  • Generation Interconnection Facilities Study means a Facilities Study related to a Generation Interconnection Request.

  • Capital Improvement Project means the acquisition, construction, reconstruction, improvement, planning and equipping of roads and bridges, appurtenances to roads and bridges to enhance the safety of animal-drawn vehicles, pedestrians, and bicycles, wastewater treatment facilities, water supply systems, solid waste disposal facilities, and storm water and sanitary collection, storage and treatment facilities including real property, interests in real property, facilities, and equipment related or incidental to those facilities.

  • Eligible Project Costs means such portion of the Project costs disbursed and loaned from the OPWC to the Recipient for the sole and express purpose of acquiring, constructing, reconstructing, expanding, improving, engineering and equipping the Project, other direct expenses, and related financing costs thereto.

  • Original Project Cost means the capital expenditure incurred by the Generating Company or the Transmission Licensee, as the case may be, within the original scope of the project up to the cut-off date as admitted by the Commission;

  • Expansion Capital Expenditures means cash expenditures for Acquisitions or Capital Improvements. Expansion Capital Expenditures shall include interest (including periodic net payments under related interest rate swap agreements) and related fees paid during the Construction Period on Construction Debt. Where cash expenditures are made in part for Expansion Capital Expenditures and in part for other purposes, the General Partner shall determine the allocation between the amounts paid for each.

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.

  • Construction project means the same as that term is defined in Section 38-1a-102.

  • Project Loan means the loan made by the Governmental Lender to the Borrower pursuant to the Project Loan Agreement in the original principal amount of $[AMOUNT], as evidenced by the Project Note.

  • Existing Facility means a facility in existence on any given date, newly constructed or altered.

  • Dry cleaning facility means an establishment with one or more dry cleaning systems.

  • As-built drawings, as used in this clause, means drawings submitted by the Contractor or subcontractor at any tier to show the construction of a particular structure or work as actually completed under the contract. “As-built drawings” shall be synonymous with “Record

  • Refinancing Facility has the meaning specified in Section 2.16(a).

  • Infrastructure facility means a building; structure; or networks of buildings, structures, pipes, controls, and equipment, or portion thereof, that provide transportation, utilities, public education, or public safety services. Included are government office buildings; public schools; courthouses; jails; prisons; water treatment plants, distribution systems, and pumping stations; wastewater treatment plants, collection systems, and pumping stations; solid waste disposal plants, incinerators, landfills, and related facilities; public roads and streets; highways; public parking facilities; public transportation systems, terminals, and rolling stock; rail, air, and water port structures, terminals, and equipment.

  • Cogeneration facility means a power plant in which the heat or steam is also used for industrial or commercial heating or cooling purposes and that meets Federal Energy Regulatory Commission standards for qualifying facilities under the Public Utility Regulatory Policies Act of 1978 (16

  • generation facility means a facility for generating electricity or providing ancillary services, other than ancillary services provided by a transmitter or distributor through the operation of a transmission or distribution system, and includes any structures, equipment or other things used for that purpose;

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.