Replacement Project Document definition

Replacement Project Document means any Project Document entered into by any Co-Borrower with a Replacement Obligor in replacement of a Major Project Document in form and substance reasonably satisfactory to the Required Lenders.

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Replacement Project Document means any contract entered into in replacement of an existing Material Project Document.

Replacement Project Document means, in respect of any Material Project Document, one or more binding replacement Project Documents (i) that are Additional Material Project Documents entered into in accordance with Section 6.09(a)(iii), (ii) that, in the case of any Project Document replacing a Material Project Document (other than any Material Construction Contract, the Vitol S&O Agreement or the Vitol S&S Agreement), are (A) on terms (take as a whole) that are substantially similar to, or more favorable to the applicable Loan Party than, the terms and conditions of the Material Project Document being replaced, (B) is with a counterparty that is as creditworthy (measured as of the date of such counterparty enters into such replacement Material Project Document) as the Material Project Counterparty under the Material Project Document being replaced (measured as of the date of such Material Project Counterparty entered into the Material Project Document being replaced) and (C) has pricing and economic terms (taken as a whole) consistent with, or better than, the Material Project Document being replaced or (iii) otherwise on terms and conditions acceptable, and with a counterparty of credit acceptable, to the Administrative Agent, acting at the reasonable direction of the Required Lenders.

Examples of Replacement Project Document in a sentence

The commencement of an Insolvency Proceeding against any Obligor or any Major Project Participant and such proceeding continues undismissed for at least 30 days, unless, in the case of any Major Project Participant, the Borrower Entities are diligently proceeding in good faith to replace the Major Project Document to which such Major Project Participant is a party and such Major Project Document is replaced with an Acceptable Replacement Project Document within 60 days of such event.
The Borrower shall not permit the Project Company to enter into or become a party to any Additional Project Document, Additional Offtake Agreement or Replacement Project Document, except (i) with the prior written consent of the Required Lenders, not to be unreasonably withheld, conditioned or delayed, (ii) in the name of the Project Company and (iii) upon delivery to the Administrative Agent of the documents required pursuant to Section 6.24.
After the entry into any Additional Project Document, Additional Offtake Agreement or Replacement Project Document and receipt of a copy of such by the Borrower, deliver a copy of such Additional Project Document, Additional Offtake Agreement or Replacement Project Document to the Administrative Agent.
The dissolution of any Obligor or any Major Project Participant, unless, in the case of any Major Project Participant, the Borrower Entities are diligently proceeding in good faith to replace the Major Project Document to which such Major Project Participant is a party and such Major Project Document is replaced with an Acceptable Replacement Project Document within 60 days of such dissolution.

More Definitions of Replacement Project Document

Replacement Project Document means any Additional Project Document in replacement of a Material Project Document which is entered into with a Replacement Project Party and either (i) has economic terms which are no less favorable to the Company than those in the Material Project Document being replaced and has other terms and conditions which, in the case of such other terms and conditions, taken as a whole, are not materially less favorable to the Company than those in the Material Project Document being replaced or (ii) is in form and substance satisfactory to Ormat, acting reasonably.

Replacement Project Document means, (a) in respect of the Construction Agreement, Coreweave Lease, and the Master Easement Agreement, a binding replacement contract entered into with a counterparty and on terms and conditions acceptable to the Administrative Agent (acting at the written direction of all Lenders) and (b) with respect to all other Material Project Documents not covered by the preceding clause (a), a binding replacement contract entered into with a counterparty and on terms and conditions acceptable to the Administrative Agent (acting at the written direction of Required Lenders, acting reasonably).

Replacement Project Document means (i) with respect to any Ground Lease, an Acceptable Replacement Ground Lease and (ii) with respect to any other Project Document, an Acceptable Replacement Project Document.

Replacement Project Document has the meaning given such term in the Term Credit Agreement.

Replacement Project Document means any contract or agreement in form and substance reasonably satisfactory to the Required Lenders entered into by either Borrower with any Replacement Project Participant subsequent to the date of this Agreement in substitution for any Project Document that has been terminated (other than by virtue of scheduled expiration in the ordinary course in accordance with its terms).

Replacement Project Document means, in respect of any Material Project Document, one or more binding replacement Project Documents (i) that are Additional Material Project Documents entered into in accordance with Section 6.09(a)(iii), (ii) that, in the case of any Project Document replacing a Material Project Document (other than any Material Construction Contract or the ExxonMobil Offtake Agreement), are (A) on terms (take as a whole) that are substantially similar to, or more favorable to the applicable Loan Party than, the terms and conditions of the Material Project Document being replaced, (B) is with a counterparty that is as creditworthy (measured as of the date of such counterparty enters into such replacement Material Project Document) as the Material Project Counterparty under the Material Project Document being replaced (measured as of the date of such Material Project Counterparty entered into the Material Project Document being replaced) and (C) has pricing and economic terms (taken as a whole) consistent with, or better than, the Material Project Document being replaced or (iii) on otherwise on terms and conditions acceptable, and with a counterparty of credit acceptable, to the Administrative Agent, acting at the reasonable direction of the Required Lenders.

Replacement Project Document means any contract, agreement or other instrument entered into in accordance with Section 6.06 in replacement of an existing Material Project Document (a) with (i) substantially similar or terms more economically favorable to the Project Company than the Material Project Document it replaces, (ii) substantially similar or more favorable non-economic terms (taken as a whole) than the Material Project Document it replaces, as confirmed by the Administrative Agent (acting in consultation with the Lenders’ Technical and Environmental Consultant) (such confirmation not to be unreasonably withheld, conditioned or delayed) and (iii) a replacement Material Project Party of a comparable or better standing than the Material Project Party it replaces, as confirmed by the Administrative Agent (such confirmation not to be unreasonably withheld, conditioned or delayed) or (b) otherwise satisfactory to the Required Lenders.