Financial Closing definition

Financial Closing means the execution of the Financing Documents by all the parties thereto, and the fulfillment of all conditions precedent thereunder necessary to permit the advance of funds to pay amounts due under this Agreement.

Financial Closing means (a) the execution and delivery of the Financing Documents between the Company and Lenders (with copies of the Financing Documents having been delivered to BPDB) that (together with equity commitments) evidence sufficient financing for the construction, testing, completion, and Commissioning of the Facility and evidence of commitments for such equity as is required by the Company to satisfy the requirements of the Lenders, (b) the satisfaction of all conditions precedent for the initial availability of funds under the Financing Documents; provided, that, with BPDB’s written approval, “Financial Closing” shall be deemed to have occurred upon the occurrence of (a) Construction Start, (b) delivery to BPDB of written assurance satisfactory to BPDB demonstrating that the Company has the financial resources available to it necessary to complete the construction of the Facility without interruption.

Financial Closing means the fulfillment of each of the following conditions:

Examples of Financial Closing in a sentence

• Upon Financial Closing, Owner shall promptly provide to Design-Builder an officer’s certificate certifying that Financial Closing has occurred and such Owner’s officer’s certificate shall constitute evidence satisfactory to Design-Builder that Owner has adequate funds available and committed to fulfill its obligations under the Contract Documents for all purposes hereunder.

• If Seller terminates this Agreement because of an Event of Default by Buyer prior to the Financial Closing Date, the Termination Payment due to Seller shall be equal to all of Seller’s out-of-pocket expenses incurred in connection with the development and construction of the Facility prior to such termination.

• Owner shall pay on the date of Financial Closing all costs of obtaining such bond, plus pay Design-Builder a fee of seven and one half percent (7.5%) for obtaining such bond, such fee to be calculated by multiplying seven and one half percent (7.5%) times the cost of the Performance Bond.

• Owner agrees to pay all documented costs incurred by Design-Builder incurred prior to and at Financial Closing, and thereafter during the term of this Agreement, in connection with satisfying the requirements of Owners’ financing arrangements including all documented attorney’s fees.

• The number and location of turbines included in the Facility will be based on the final turbine model selected prior to the Financial Closing Date.

More Definitions of Financial Closing

Financial Closing. – means (a) the execution and delivery of the Financing Documents between the Company and Lenders (with copies of the Financing Documents having been delivered to BPDB) that (together with equity commitments) evidence sufficient financing for the construction, testing, completion, and Commissioning of the Facility and evidence of commitments for such equity as is required by the Company to satisfy the requirements of the Lenders, and (b) the satisfaction of all conditions precedent for the initial availability of funds under the Financing Documents; provided, that, with BPDB’s written approval, “Financial Closing” shall be deemed to have occurred upon the occurrence of (a) Construction Start, (b) delivery to BPDB of written assurance satisfactory to BPDB demonstrating that the Company has the financial resources available to it necessary to complete the construction of the Facility without interruption, and (c) the delivery to BPDB of the Performance Security Deposit.

Financial Closing bears the meaning ascribed thereto in Section 1 of the Power Purchase Agreement; “Financial Closing Date” means the date on which Financial Closing occurs;

Financial Closing means the signing of the Loan, and/or grant/subsidy Documents and the fulfilment of all conditions precedent to the initial availability of funds thereunder.

Financial Closing bears the meaning ascribed thereto in Section 1 of the Power Purchase Agreement;

Financial Closing means when the Board determines, in its sole discretion, that the Company has closed on the debt and equity financing necessary to construct the Company’s proposed ethanol plant and provide working capital at plant start-up.

Financial Closing. The signing of the Loan Agreements for financing of the Facility.

Financial Closing means the execution of financing documents with a lender providing for the construction financing or permanent financing of the System, on terms and conditions satisfactory to System Owner, in System Owner’s sole discretion, and the fulfillment of all conditions precedent to the initial availability of funds thereunder; or