Financial Completion definition

Financial Completion means when:
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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 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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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.

  • 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.

  • Project documentation, therefore, may include a Financial Completion Agreement (FCA), which specifies, in contract form, the initial financial projections of the project against which creditors and investors are willing to invest funds.

  • Gigawatt Global Rwanda Ltd (ASYV)The loan agreement includes financial covenants requiring that the borrower must ensure that on each Calculation Date from the Financial Completion Date: Historic Audited DSCR and Historic Unaudited DSCR must exceed 1.10 : 1; and Projected Minimum DSCR must exceed 1.10 : 1.

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

  • Shorter duration Substantial Financial Completion dates will only apply in T-1, T-2 or T-3 auctions, and only to new capacity awarded a one-year contract.

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

  • Density Functional Theory (DFT) is the workhorse of electronic structure theory.

  • The proposal aims to change section J.2.1.3 of the CMC, modifying a number of Implementation Plan milestones for DSUs / AGUs, to provide an alternative route for achieving Substantial Financial Completion by electing to voluntarily increase the Termination Charge payable (and associated Performance Security) based on the next upcoming termination charge rate (€/MW).

  • 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.


More Definitions of Financial Completion

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 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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Financial Completion is deemed to have occurred when: --------------------
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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 completion of the Redevelopment in accordance with this Agreement to the state where the whole of the Morley Shopping Centre, as so redeveloped, is capable of occupation for its intended purpose;

  • Construction Completion Date means the date by which the overall development of the Project is completed in accordance with the provisions of this Agreement and when the Construction Completion Certificate is issued by the Independent Engineer as per Article 14.1.

  • 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 that stage in the execution of a Named Project when the Works have been completed in accordance with the terms of the relevant Building Contract and/or the terms of this Agreement such that the AHP Dwellings comprised within the Named Project are fit for beneficial occupation as a residential development in accordance with applicable NHBC or equivalent requirements current at the date of inspection subject only to the existence of minor defects and/or minor omissions at the time of inspection which are capable of being made good or carried out without materially interfering with the beneficial use and enjoyment of the Named Project and which would be reasonable to include in a snagging list, and Practically Complete shall be construed accordingly; Process has the meaning ascribed to it in the DPA; Procurement Law means (as the case may be):

  • 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;