Financial Completion definition

Financial Completion is deemed to have occurred when: --------------------
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Financial Completion has the meaning assigned to such term in Section 8.20.
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Financial Completion shall be deemed to have occurred on the first date when each of the following statements shall be true, in each case, to the satisfaction of the Senior Lenders:
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Examples of Financial Completion in a sentence

  • For example, a guideline to licensees, local governments and inspectors could include a direction to interpret a provision in the code requirements in a particular way.

  • Please refer to the Welcome Back Fund Grant Funding Agreement which states:• “Agreed Financial Completion Date" means the date specified as such in the Project Specific Conditions and being the date that all of the expenditure will have been defrayed.• "Agreed Activity End Date" means the date specified as such in the Project Specific Conditions and being the date that all of the Project Activities shall be finished and complete including the Works.

  • Completion reports include, but are not limited to: Tenant Profile; a Project Completion audit or other audit required under tax credit requirements or other affordable funder performed by an independent certified public accountant identifying the sources and uses of all Project funds; Project Financial Completion Report (sources and uses of funding), which shows the total of all funds expended for the Project.

  • Upon completion of the project, Contractor shall provide the following reports depending on the Project type and in a format provide by DOH: Tenant Profile; and Project Financial Completion Report, which shows the total of all funds expended for the Project.

  • Records showing the basis for determining the value of donated material assigned to the Project shall be submitted by the Grantee with the Financial Completion Report as described below.

  • If it fails to achieve Substantial Financial Completion within that timeframe, the TSOs terminate the contract, and may re-tender for alternative capacity.

  • From the date of Substantial Completion ten (10) calendar days to Financial Completion.

  • At present, and until repayment of the loan, a mechanism is foreseen to support the repayment of the TAP outstanding financial debt (the so-called "Debt Payment Undertaking") which would be activated, unlike the guarantee on first demand, released upon reaching the "Financial Completion Date" on 31 March 2021, upon the occurrence of specific and determined conditions linked to exceptional events of an extraordinary nature.

  • The Termination Fee will be payable if the project:• fails to deliver the Substantial Financial Completion milestones by the given date; or• fails to achieve Substantial Completion by the Long Stop Date; or• submits false or misleading information in the Qualification process.

  • Financial Guarantee backing from banks under VEFA regulationAs per GoM Regulation, all residential developments under PDS Schemes (targeted for international clients) should be under VEFA Regulation (Vente en État Futur d’Achèvement) – governed by Civil Law of Mauritius and requires a Financial Completion Guarantee (GFA) from a reputed Bank.


More Definitions of Financial Completion

Financial Completion means project’s ability to produce below a certain unit cost or minimum traffic volume above a certain level or compliance of any similar conditionality for a specified period of time, such as six months; to have a minimum level of working capital and achieve a certain current ratio; and to achieve a minimum debt-service coverage ratio or debt-to-equity ratio for a certain period, such as one year as per the Financial Agreement(s).
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Financial Completion has the meaning assigned to such term in Section 8.20 of the Common Agreement. DIRECT AGREEMENT
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Financial Completion means fulfillment of any one or more of the conditions listed below:
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Financial Completion means when:
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Financial Completion means that each of the following conditions has been satisfied, as determined by XXX (in consultation with the Independent Engineer) and confirmed by XXX in writing:
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Related to Financial Completion

  • Final Completion means the date determined and certified by A/E and Owner on which the Work is fully and satisfactorily complete in accordance with the Contract.

  • Substantial Completion means the stage in the progress of the work as determined and certified by the Contracting Officer in writing to the Contractor, on which the work (or a portion designated by the Government) is sufficiently complete and satisfactory. Substantial completion means that the property may be occupied or used for the purpose for which it is intended, and only minor items such as touch-up, adjustments, and minor replacements or installations remain to be completed or corrected which:

  • Construction Completion means physical construction of a cleanup action component is complete.

  • Project Completion means the date, as determined by the Division after consultation with the Recipient, that operation of the Project is initiated or is capable of being initiated, whichever comes first.

  • Construction Completion Date means the Completion Date of the Construction as specified in the Statutory Declaration of Completion for the Project;

  • Substantial Completion Date means the date on which Substantial Completion occurs.

  • Tests on Completion means the tests which are specified in the Contract or agreed by both Parties or instructed as a Variation, and which are carried out under Clause 9 [Tests on Completion] before the Works or a Section (as the case may be) are taken over by the Procuring Entity.

  • Virtual Completion means the premise is in the opinion of the Employer fit for occupation.

  • Testson Completion means the tests which are specified in the Contractor agreed by both Parties or instructed as a Variation, and which are carried out under Clause 9 [Tests on Completion] before the Works or a Section (as the case may be) are taken over by the Procuring Entity.

  • Project Completion Date means the date on which the Completion Certificate is issued;

  • Final Completion Date means the date on which Final Completion occurs.

  • Time of Completion means the time for completing the execution of and passing the Tests on Completion of the Works of any section or part thereof as stated in the Contract (or as extended under Clause...) calculated from the Commencement Date

  • Tests after Completion means the tests (if any) which are specified in the Contract and which are carried out in accordance with the Specification after the Works or a Section (as the case may be) are taken over by the Procuring Entity.

  • Mechanical Completion means that (a) all components and systems of the Project have been properly constructed, installed and functionally tested according to EPC Contract requirements in a safe and prudent manner that does not void any equipment or system warranties or violate any permits, approvals or Laws; (b) the Project is ready for testing and commissioning, as applicable; (c) Seller has provided written acceptance to the EPC Contractor of mechanical completion as that term is specifically defined in the EPC Contract.

  • Study Completion means the database for the Study has been locked and all Essential Documents have been provided to the Sponsor, including a copy of the letter from the Reviewing HREC acknowledging receipt of the final report and/or closure letter from the Principal Investigator.

  • Practical Completion means the completion of the Project where the building is fit for occupancy and/or purpose.

  • Substantial compliance means a level of compliance with these rules where any deficiencies pose no greater risk to resident health or safety than the potential for causing minor harm.

  • The Completion Date means the date of completion of the Works as certified by the Employer’s Representative.

  • Test on Completion means such tests as prescribed in the Contract to be performed by the Contractor before the work is Taken Over by TSECL.

  • Improvement completion assurance means a surety bond, letter of credit,

  • Commercial Operations Date or "COD": The date on which Facility first achieves Commercial Operations.

  • Commercial Operations Upon satisfaction of the following conditions, the Facility shall be considered to have achieved Commercial Operations on the Day specified in Seller's written notice described below: (i) the Acceptance Test has been passed, (ii) all generating units have passed Control System Acceptance Tests, (iii) the Transfer Date has occurred, (iv) Seller has (1) provided to Company the Required Models (as defined in Section 6(a) (Seller's Obligation to Provide Models) of Attachment B (Facility Owned by Seller)) in the form of Source Code, (2) placed the current version of the Source Code for the Required Models with the Source Code Escrow Agent as required in Section 6(b)(i)(A) (Establishment of Source Code Escrow) of Attachment B (Facility Owned by Seller), or (3) if Seller is unable to arrange for the placement of the appropriate Source Code into the Source Code Escrow account, placed the required funds with the Monetary Escrow Agent as required in Section 6(b)(ii)(A) (Establishment of Monetary Escrow) of Attachment B (Facility Owned by Seller), and (v) Seller provides Company with written notice that (aa) Seller is ready to declare the Commercial Operations Date and (bb) the Commercial Operations Date will occur within 24 hours (i.e., the next Day).

  • Successful Completion means that in the reasonable opinion of the Customer, Deliverables completed by the Supplier are fit for purpose, completed on time and otherwise meet all the criteria defined under this Contract;

  • Completion means the fulfilment of the Related Services by the Supplier in accordance with the terms and conditions set forth in the Contract.

  • project completion period means the period of sixty (60) months commencing from and expiring on for the construction and obtaining of Temporary Occupation Permit or Permits for the whole of the Development as provided in clause 3.3;

  • Financial Closure means compliance with the requirements under Article 3.1 of this Agreement;