Examples of Equity Contribution Date in a sentence
BrightSource Ivanpah irrevocably commits (i) to provide to the Borrower, directly or indirectly, 100% of the Supplemental Base Equity Amount, and (ii) to pay amounts up to the Supplemental Base Equity Commitment Balance from time to time on any Supplemental Base Equity Contribution Date.
Notwithstanding the foregoing, with respect to the portion of any Equity Contribution used to pay any of the 25% Progress Payments for Systems to be deployed in the subsequent quarter, the fulfillment by the Project Company, on or before the applicable Equity Contribution Date, of each of the conditions set forth in Sections 4.4(a), (e), (f), (h)(i) and (h)(iii) must be satisfied.
In the event that any Sponsor Equity Contribution is not made on the related Equity Contribution Date, the amount of such delinquent Sponsor Equity Contribution shall bear interest at the Default Rate (computed on the basis of a 365 or 366 day year, as the case may be, and the actual days elapsed) until such time as such Sponsor Equity Contribution is made.
For avoidance of doubt, it is understood that, if (i) the Senior Note Indenture does not permit the funding of the full amount of the Equity Contribution on the Equity Contribution Date and (ii) the Equity Contributor has not redeemed or defeased all of the Senior Notes on or prior to the Equity Contribution Date, then the Equity Contributor will be in violation of Section 4.2(e) hereof.
If, due to the Limitation Sentence, the full amount of the Equity Contribution cannot be made on the Equity Contribution Date, then, on each subsequent Measurement Date, the Equity Contributor shall make an additional portion of the Equity Contribution in an amount equal the lesser of (i) the theretofore unfunded portion of the Equity Contribution, (ii) the amount available under the RP Baskets on such Measurement Date and (iii) the Debt Incurrence Amount as of such Measurement Date.