Excess Advance Amount definition

Excess Advance Amount means, on any date of determination with respect to any Advance under a Note, an amount equal to the total proceeds of such Advance that were applied by the Borrower to reimburse itself for applicable Project Costs incurred and paid but which did not constitute Eligible Project Costs relating to the Note for which such Advance was sought as set forth in the most recent review performed and reports provided in accordance with Section 8.02(d) (Independent Accounting Review).

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Excess Advance Amount means, on any date of determination with respect to each Advance under any Note, an amount equal to the total proceeds of such Advance that were not applied by the Borrower to pay Eligible Project Costs relating to the Project for which such Advance was sought as set forth in the most recent Agreed-Upon Procedures Report.

Excess Advance Amount has the meaning set forth in Section 10.2(g). “Exchange” has the meaning set forth in Section 4.7.

Examples of Excess Advance Amount in a sentence

• Venture shall remit to Sublicensee (a) the Venture Excess Advance Amount if no Venture Objection is made by Venture during the Venture Objection Period, (b) the amount of the mutually agreeable resolved Venture Excess Advance Amount if Venture submits a Venture Objection within the Venture Objection Period, upon the mutually agreeable resolution as described above.

• Upon the expiration of such Owner Objection Period, Owner shall be deemed to have accepted, and shall be bound by, such Owner Statement and the amount of such Owner Excess Advance Amount, unless Owner shall have informed Sublicensee in writing of its disagreement with such Owner Excess Advance Amount prior to the expiration of the applicable Owner Objection Period (the “Owner Objection”), setting forth in reasonable detail the basis for each such dispute (each, an “Owner Disputed Item”).

• Owner shall remit to Sublicensee (a) the Owner Excess Advance Amount if no Owner Objection is made by Owner during the Owner Objection Period, (b) the amount of the mutually agreeable resolved Owner Excess Advance Amount if Owner submits an Owner Objection within the Owner Objection Period, upon the mutually agreeable resolution as described above.

• If Owner and Sublicensee are able to negotiate a mutually agreeable resolution of each Owner Disputed Item, and each signs a certificate to that effect, the Owner Statement and the calculation therein of the Owner Excess Advance Amount, as adjusted to reflect such resolution, shall be deemed final, non-appealable and binding for purposes of this Agreement.

• If Venture and Sublicensee are able to negotiate a mutually agreeable resolution of each Venture Disputed Item, and each signs a certificate to that effect, the Venture Statement and the calculation therein of the Venture Excess Advance Amount, as adjusted to reflect such resolution, shall be deemed final, non-appealable and binding for purposes of this Agreement.

• Upon the expiration of such Venture Objection Period, Venture shall be deemed to have accepted, and shall be bound by, such Venture Statement and the amount of such Venture Excess Advance Amount, unless Venture shall have informed Sublicensee in writing of its disagreement with such Venture Excess Advance Amount prior to the expiration of the applicable Venture Objection Period (the “Venture Objection”), setting forth in reasonable detail the basis for each such dispute (each, a “Venture Disputed Item”).

• Concurrently herewith, the Borrower shall be deemed to have borrowed the Excess Advance Amount under the Credit Agreement and satisfied its obligation to repay such amount pursuant to Section 2.02(b)(ii) under the Tax Sharing Agreement, such simultaneous borrowing and repayment to occur through book entry rather than transfer of funds.

• The initial book entry advance of the Excess Advance Amount hereunder shall be a Eurodollar Loan with an Interest Period of one month.

More Definitions of Excess Advance Amount

Excess Advance Amount means, on any date of determination with respect to any Advance under the FFB Notes, an amount equal to the total proceeds of such Advance that were (a) applied by the Borrower to reimburse itself for applicable Project Costs incurred and paid but which did not constitute Eligible Project Costs relating to the FFB Notes for which such Advance was sought; or (b) not applied by the Borrower to pay or reimburse itself for Eligible Project Costs incurred and invoiced relating to the FFB Notes for which such Advance was sought unless the date for the projected payment or reimbursement, identified at the time such Advance was sought, for those Eligible Project Costs has not yet occurred.

Excess Advance Amount means, on any date of determination with respect to each Advance under any Note, an amount equal to the total proceeds of such Advance that were not applied by the Borrower to pay, or be reimbursed for, Eligible Project Costs relating to the Project for which such Advance was sought as set forth in the most recent Agreed-Upon Procedures Report (other than any such proceeds which have not yet been applied within the applicable 30-day period contemplated by Sections 2.3(b)(v) and 5.3(h) and (k), provided that any such proceeds not so applied within such period shall be taken into account as an Excess Advance Amount on the next date of determination).