Common use of Base Case Financial Model Clause in Contracts

Base Case Financial Model. DOE shall have received either: (i) a certificate from a Financial Officer of the Sponsor, in form and substance satisfactory to DOE, to the effect that (A) there are no material changes to the Original Base Case Financial Model; and (B) there are no material changes to the assumptions therein; or (ii) an updated Base Case Financial Model, certified by a Financial Officer of the Sponsor, demonstrating compliance with financial ratios equal to or better than the Original Base Case Financial Model, accompanied by (A) a certificate from a Financial Officer of the Sponsor, in form and substance satisfactory to DOE, that includes a written explanation from the Sponsor of all variances from the Original Base Case Financial Model; and (B) a report from the Financial and Market Advisor confirming (1) the mathematical accuracy of the computations therein; (2) the consistency in all material respects of the Effective Date Base Case Financial Model with the Construction Budget, Project Milestone Schedule and Project Construction Schedule; (3) that the underlying assumptions are reasonable and are consistent in all material respects with the applicable provisions of the Transaction Documents; and (4) that the Effective Date Base Case Financial Model demonstrates, on a projected basis, compliance with Section 7.10 (Financial Covenants).