Project Indebtedness means any Indebtedness to finance or refinance a Project where the recourse of the creditors thereof is limited to any or all of (i) the relevant Project (or the concession or assets related thereto), (ii) the share capital of, or other equity contribution to, the Project Company or Project Companies developing, financing or otherwise directly involved in the relevant Project, and/or (iii) other credit support (including, without limitation, completion guarantees and contingent equity obligations) customarily provided in support of such indebtedness.

Project Indebtedness means (i) Indebtedness of any Kwidzyn Entity or (ii) Indebtedness of the Company, IPISA or Aussedat Rey that constitutes Indebtedness of such Person due solely to the pledge, on a non-recourse basis, by such Person of Indebtedness or capital stock of any Kwidzyn Entity held by such Person to secure Indebtedness of any Kwidzyn Entity to any other Person or Persons or (iii) Indebtedness of the Company or any Subsidiary incurred to finance the acquisition, construction or development of Project Assets (as defined in Section 6.07(h)); provided in the case of this clause (iii) that (x) such Indebtedness is non-recourse to any other assets and (y) the aggregate principal amount of such Indebtedness may at no time exceed $200,000,000.

Project Indebtedness is defined in Section 6.12(c) hereof.

Examples of Project Indebtedness in a sentence

The Option granted by this Agreement and the rights of Kite Realty hereunder are and shall be subordinate to the Project Indebtedness and any Entity Indebtedness.
Each Member owns beneficially and of record, free and clear of any Encumbrances, and has full power and authority to convey free and clear of any Encumbrances, the Member Interests listed on Exhibit B hereto as owned by such Member, except (i) Encumbrances created in favor of Kite Realty by the transactions contemplated hereby, (ii) Encumbrances that are extinguished at or prior to the Closing Date, and (iii) Encumbrances relating to the Project Indebtedness or any Entity Indebtedness.
Optionor covenants and agrees not to encumber the LLC Interest during the Option Term except in connection with the Project Indebtedness and any Entity Indebtedness.
The City agrees that all Net Available Increment and any interest earnings thereon shall be irrevocably pledged by the Agency, as a first pledge where applicable, for the payment of the Project Indebtedness of the Agency.
Optionor hereby grants to Kite Realty an option to acquire all right, title and interest of Optionor in and to the LLC Interest free and clear of any encumbrances on the LLC Interest (other than encumbrances with respect to the Project Indebtedness (as defined in Section 3.1) or any Entity Indebtedness (as defined in Section 5.2)) on the terms and conditions set forth herein (the “Option”).

More Definitions of Project Indebtedness

Project Indebtedness is defined in Section 3.2(a). “Project Site” is defined in the DDA.

Project Indebtedness means (i) any unsubordinated indebtedness incurred by the Company specifically for the purpose of construction and development of the San Xxxxxxxxx Project which is secured by the property, property assets or other assets of the Company or any of its Subsidiaries, and (ii) any guarantee of the indebtedness described in (i) by the Company, its Affiliates or its Subsidiaries, for the period such guarantee is in effect.

Project Indebtedness means Indebtedness of the Parent or any Subsidiary incurred to finance the acquisition, construction or development of Project Assets (as defined in Section 6.7(h)); provided that (x) such Indebtedness is non-recourse to any other assets and (y) the aggregate principal amount of such Indebtedness may at no time exceed $425,000,000.

Project Indebtedness means secured Indebtedness incurred solely by a Project Subsidiary for the specific purpose of development, construction and/or commission of the specific wind energy power project of such Project Subsidiary, which secured Indebtedness is secured solely by, and lent solely against, such specific project and as to which neither the Company nor any other Subsidiary is a guarantor or is otherwise responsible or obligated.

Project Indebtedness has the meaning set forth in Section 3.4.

Project Indebtedness means Indebtedness of any Project Finance Subsidiary, including inverted leases and back leverage relating to residential leases, securitizations, Sale and Lease Back Transactions and other similar financing structures, as to which the holders of such Indebtedness have recourse only to such Project Finance Subsidiary and any other Project Finance Subsidiaries, including such Project Finance Subsidiaries' assets, but without recourse to any Loan Party or any of their respective Subsidiaries which are not Project Finance Subsidiaries, including any of their assets other than the Equity Interests in Project Finance Subsidiaries.