Wellbeing Project Financing definition

Wellbeing Project Financing means Indebtedness incurred by Holdings, so long as (a) the proceeds thereof are used (or, in the case of sub-clause (iv) below, deemed used) solely to (i) finance the construction, start-up and operational deficits of the Wellbeing Project (including any “cost overruns” on the construction of the Wellbeing Project), (ii) make an Investment in, and/or repay an intercompany loan owing to, Intermediate Holdco, the proceeds of which are, in turn, used by Intermediate Holdco to make an Investment in, and/or repay an intercompany loan owing to the Borrower, (iii) “finance” customary expenses which are (x) incurred by lenders providing such Indebtedness and treated as “protective advances” under the documentation governing such Indebtedness (e.g., advances for the payment of real estate taxes, insurance premiums, ground rent and maintenance and repair costs) and (y) deemed added as additional Indebtedness of Holdings under such documentation (it being understood, however, that Indebtedness incurred by Holdings under this clause (iii) may be in the form of a guarantee by Holdings of additional Indebtedness incurred by the Unrestricted Wellbeing Joint Venture for the purposes described above in this clause (iii) rather than in the form of direct incurrence by Holdings), (iv) pay accrued but unpaid interest on the principal of Indebtedness described in this definition, together with reasonable transaction fees incurred in connection with the incurrence thereof and/or (v) extend, renew and/or refinance any Indebtedness theretofore incurred pursuant to this definition, (b) such Indebtedness does not require any scheduled principal repayments prior to the final stated maturity thereof, (c) such Indebtedness does not require any mandatory repayments prior to the final stated maturity thereof other than in connection with (x) a “change of control” (which “change of control” shall not include triggers any tighter than those contained in the definition of “Change of Control” in this Agreement) or (y) issuances of equity by, or capital contributions to, Holdings, (d) such Indebtedness does not provide for guaranties or security from, or require any representation, warranty, event of default or covenant to be applicable to, any Subsidiary of Holdings, (e) such Indebtedness provides for an “interest reserve” covering all interest which will accrue on such Indebtedness over the term thereof, which interest may be in the form of a committed but initially unfunded portion of su...
Sample 1
Wellbeing Project Financing means Indebtedness incurred by Holdings, so long as (a) the proceeds thereof are used (or, in the case of sub-clause (iv) below, deemed used) solely to (i) finance the construction, start-up and operational deficits of the Wellbeing Project (including any “cost overruns” on the construction of the Wellbeing Project), (ii) make an Investment in, and/or repay an intercompany loan owing to, Intermediate Holdco, the proceeds of which are, in turn, used by Intermediate Holdco to make an Investment in, and/or repay an intercompany loan owing to, the U.S. Borrower,
Sample 1

Related to Wellbeing Project Financing

  • Project Financing means: (a) one or more loans, leases, equity and/or debt financings, together with all modifications, renewals, supplements, substitutions and replacements thereof, the proceeds of which are used to finance or refinance the costs of the Customer Facility, any alteration, expansion or improvement to the Customer Facility, the purchase and sale of the Customer Facility or the operation of the Customer Facility; (b) a power purchase agreement pursuant to which Interconnection Customer’s obligations are secured by a mortgage or other lien on the Customer Facility; or (c) loans and/or debt issues secured by the Customer Facility.

  • Project financing gap means the part of the total project cost,

  • Non-recourse Project Financing means any Indebtedness incurred in connection with the financing of all or part of the costs of the acquisition, construction or development of any project, provided that: (i) any Security Interest given by the Bank or the relevant Subsidiary is limited solely to assets of the project; (ii) the Person or Persons providing such financing expressly agrees to limit their recourse to the project financed and the revenues derived from such project as the principal source of repayment for the moneys advanced; and (iii) there is no other recourse to the Bank or the relevant Subsidiary in respect of any default by any Person under the financing; and

  • Sub-project means a specific development project to be carried out by a Beneficiary utilizing the proceeds of a Sub-loan;

  • Solar PV Project means the solar Photo Voltaic Power project that uses sunlight for direct conversion into electricity through Photo Voltaic technology.

  • Construction project means the same as that term is defined in Section 38-1a-102.

  • Cooperative Project With respect to any Cooperative Loan, all real property and improvements thereto and rights therein and thereto owned by a Cooperative Corporation including without limitation the land, separate dwelling units and all common elements.

  • Project Finance Debt means Debt of any Subsidiary of the Borrower (i) that is (A) not recourse to the Borrower other than with respect to Liens granted by the Borrower on direct or indirect equity interests in such Subsidiary to secure such Debt and limited Guaranties of, or equity commitments with respect to, such Debt by the Borrower, which Liens, limited Guaranties and equity commitments are of a type consistent with other limited recourse project financings, and other than customary contractual carve-outs to the non-recourse nature of such Debt consistent with other limited recourse project financings, and (B) incurred in connection with the acquisition, development, construction or improvement of any project, single purpose or other fixed assets of such Subsidiary, including Debt assumed in connection with the acquisition of such assets, or (ii) that represents an extension, renewal, replacement or refinancing of the foregoing, provided that, in the case of a replacement or refinancing, the principal amount of such new Debt shall not exceed the principal amount of the Debt being replaced or refinanced plus 10% of such principal amount.

  • Project Finance Entity means: (a) a holder, trustee or agent for holders, of any component of Project Financing; or (b) any purchaser of capacity and/or energy produced by the Customer Facility to which Interconnection Customer has granted a mortgage or other lien as security for some or all of Interconnection Customer’s obligations under the corresponding power purchase agreement. Provisional Interconnection Service:

  • New Project means (a) each facility which is either a new facility, branch or office or an expansion, relocation, remodeling or substantial modernization of an existing facility, branch or office owned by the Borrower or its Subsidiaries which in fact commences operations and (b) each creation (in one or a series of related transactions) of a business unit to the extent such business unit commences operations or each expansion (in one or a series of related transactions) of business into a new market.

  • Project means the goods or Services described in the Signature Document or a Work Order of this Contract.

  • Infrastructure project means any construction or acquisition of treatment works,

  • Project Finance Indebtedness means any present or future indebtedness incurred to finance the ownership, acquisition, development and/or operation of an asset, whether or not an asset of a member of the Group:

  • Project Property means the real property on or for which preconstruction service or construction work is or will be provided.

  • Project Financing Subsidiary means any Restricted Subsidiary of the Borrower (or any other Person in which Borrower directly or indirectly owns a 50% or less interest) whose principal purpose is to incur Project Financing or to become an owner of interests in a Person so created to conduct the business activities for which such Project Financing was incurred, and substantially all the fixed assets of which Subsidiary or Person are those fixed assets being financed (or to be financed) in whole or in part by one or more Project Financings.

  • Large project means, for purposes of the Soft Cost Ratio limitation in Section 3.F, a Project with more than 24 Housing Credit units.

  • Construction Debt means debt incurred to fund (a) all or a portion of a Capital Improvement, (b) interest payments (including periodic net payments under related interest rate swap agreements) and related fees on other Construction Debt or (c) distributions (including incremental Incentive Distributions) on Construction Equity.

  • Demonstration project means one of the following projects:

  • Financing Costs means for each calendar day the product of:

  • Construction Plant means appliances, machinery with necessary supply to up keep and maintenance of the works or temporary works but dose not include materials or other things intended to form part of the permanent work.

  • Project Company means Company incorporated by the bidder as per Indian Laws in accordance with Clause no 3.5.

  • Project Facility means facility being one or more of the following facilities as specified in the Special Conditions of Contract, being developed in accordance with the Project and the Detailed Project Implementation Report and includes all its buildings, equipment, facilities, software and systems and includes without limitation, where the circumstances so require, any expansion thereof from time to time and may include any new location to be separately mentioned in the Special Conditions of Contract.

  • Pilot project means an innovative environmental project that covers one or more designated facilities, designed and implemented in the form of an EMSA. (See Section 52.3 of the Act.)

  • Permanent Financing means long-term debt (with a term of no less than fifteen (15) years) including a mortgage or other financing evidenced by a lien against the property. Permanent sources of financing identified on Page 7 of Form 3 to cover development costs (including capitalized operating and replacement reserves) may not include letters of credit, cash from operations, the lease up reserve or other non-cash contributions to the Project.