Common use of Base Case Financial Model Clause in Contracts

Base Case Financial Model. Receipt by DOE of either: (i) a certification from the Borrower that: (A) there are no material changes to the Original Base Case Financial Model, or updated Base Case Financial Model, as applicable; (B) there are no material changes to the assumptions therein, accompanied by a certificate from the Financial Advisor concurring with the Borrower’s assessment and assumptions set out in its certification; and (C) calculations demonstrating that both before and after giving effect to the Advance, (1) the Debt to Equity Ratio does not exceed the Maximum Debt to Equity Ratio and (2) the Borrower is in compliance with the Debt Sizing Parameters; or (ii) a certified updated Base Case Financial Model demonstrating the Debt Sizing Parameters equal to or better than the then-current Base Case Financial Model for each consecutive twelve (12) month period ending on each Calculation Date set out therein, accompanied by: (A) a certificate from the chief financial officer or similar officer of the Borrower that includes a written explanation from the Borrower of all variances from the Base Case Financial Model then in effect; and (B) a letter from the Financial Advisor confirming: (1) the mathematical accuracy of the computations therein; (2) the consistency in all material respects of the Base Case Financial Model with the Construction Budget and the Project Milestone Schedule; and (3) that such updated Base Case Financial Model demonstrates the required financial ratios as set forth above; and (4) calculations demonstrating that both before and after giving effect to the Advance, (I) the Debt to Equity Ratio does not exceed the Maximum Debt to Equity Ratio and (II) the Borrower is in compliance with the Debt Sizing Parameters.

Base Case Financial Model. Receipt by DOE of either: (i) a certification from the Borrower that: (A) there are no material changes to the Original Base Case Financial Model, or updated Base Case Financial Model, as applicable; (B) there are no material changes to the assumptions therein, accompanied by a certificate from the Financial Advisor concurring with the Borrower’s assessment and assumptions set out in its certification; and (C) calculations demonstrating that both before and after giving effect to the Advance, (1) the Debt to Equity Ratio does not exceed the Maximum Debt to Equity Ratio and (2) the Borrower is in compliance with the Debt Sizing Parameters; or (ii) a certified updated Base Case Financial Model demonstrating the Debt Sizing Parameters equal to or better than the then-current Base Case Financial Model for each consecutive twelve (12) month period ending on each Calculation Date set out therein, accompanied by: (A) a certificate from the chief financial officer or similar officer of the Borrower that includes a written explanation from the Borrower of all variances from the Base Case Financial Model then in effect; and (B) a letter from the Financial Advisor confirming: (1) the mathematical accuracy of the computations therein; (2) the consistency in all material respects of the Base Case Financial Model with the Construction Budget and the Project Milestone Schedule; and; (3) that such updated Base Case Financial Model demonstrates the required financial ratios as set forth above; and (4) calculations demonstrating that both before and after giving effect to the Advance, (I) the Debt to Equity Ratio does not exceed the Maximum Debt to Equity Ratio and (II) the Borrower is in compliance with the Debt Sizing Parameters.