Financial Closing definition

Financial Closing means the execution of the Financing Documents by all the parties thereto, and the fulfillment of all conditions precedent thereunder necessary to permit the advance of funds to pay amounts due under this Agreement.

Financial Closing means (a) the execution and delivery of the Financing Documents between the Company and Lenders (with copies of the Financing Documents having been delivered to BPDB) that (together with equity commitments) evidence sufficient financing for the construction, testing, completion, and Commissioning of the Facility and evidence of commitments for such equity as is required by the Company to satisfy the requirements of the Lenders, (b) the satisfaction of all conditions precedent for the initial availability of funds under the Financing Documents; provided, that, with BPDB’s written approval, “Financial Closing” shall be deemed to have occurred upon the occurrence of (a) Construction Start, (b) delivery to BPDB of written assurance satisfactory to BPDB demonstrating that the Company has the financial resources available to it necessary to complete the construction of the Facility without interruption.

Financial Closing. – means (a) the execution and delivery of the Financing Documents between the Company and Lenders (with copies of the Financing Documents having been delivered to BPDB) that (together with equity commitments) evidence sufficient financing for the construction, testing, completion, and Commissioning of the Facility and evidence of commitments for such equity as is required by the Company to satisfy the requirements of the Lenders, and (b) the satisfaction of all conditions precedent for the initial availability of funds under the Financing Documents; provided, that, with BPDB’s written approval, “Financial Closing” shall be deemed to have occurred upon the occurrence of (a) Construction Start, (b) delivery to BPDB of written assurance satisfactory to BPDB demonstrating that the Company has the financial resources available to it necessary to complete the construction of the Facility without interruption, and (c) the delivery to BPDB of the Performance Security Deposit.

Examples of Financial Closing in a sentence

• If Seller terminates this Agreement because of an Event of Default by Buyer prior to the Financial Closing Date, the Termination Payment due to Seller shall be equal to all of Seller’s out-of-pocket expenses incurred in connection with the development and construction of the Facility prior to such termination.

• The GOB shall, at Financial Closing, execute and deliver to the Company the Guarantee.

• In the event of a termination of this Agreement prior to the occurrence of Financial Closing due to a GOB Event of Default or BPDB Event of Default, as the case may be, the GOB shall, promptly, upon such termination, procure the return of the Performance Security Deposit by BPDB (without any drawings thereon) to the Company.

• The Performance Security shall be forfeited without any notice, demand, or other legal process if the Project Sponsor or the Company fails to achieve the Financial Closing on or before the Required Financial Closing Date upon termination of the PPA due to Company Event of Default.

• The Company shall provide the GOB with a copy of the loan agreements executed on the date of the Financial Closing Date not later than 15 (fifteen) Business Days after Financial Closing.

More Definitions of Financial Closing

Financial Closing means the signing of the Loan, and/or grant/subsidy Documents and the fulfilment of all conditions precedent to the initial availability of funds thereunder.

Financial Closing bears the meaning ascribed thereto in the Power Purchase Agreement; “Financial Closing Date” means the date on which the Financial Closing occurs;

Financial Closing means the fulfillment of each of the following conditions:

Financial Closing bears the meaning ascribed thereto in Section 1 of the Power Purchase Agreement;

Financial Closing means when the Board determines, in its sole discretion, that the Company has closed on the debt and equity financing necessary to construct the Company’s proposed ethanol plant and provide working capital at plant start-up.

Financial Closing means the execution of financing documents with a lender providing for the construction financing or permanent financing of the System, on terms and conditions satisfactory to System Owner, in System Owner’s sole discretion, and the fulfillment of all conditions precedent to the initial availability of funds thereunder; or

Financial Closing. The meaning ascribed thereto in the Implementation Agreement.