Base Case Projections. Administrative Agent shall have received detailed financial projections covering the period from the Execution Date through and including the 2022 fiscal year (the “Base Case Projections”), including therein projections of revenues, operating expenses, cash flow, debt service and other related items, in form and substance reasonably satisfactory to Administrative Agent and the Independent Engineer.
Base Case Projections. The Administrative Agent shall have received the Base Case Projections, updated as of a date reasonably satisfactory to the Administrative Agent, including therein projections of revenues, operating expenses, cash flows, and other related items, which shall show a Projected Interest Coverage Ratio as of each Calculation Date occurring on or after the Effective Date and on or prior to December 31, 2013 greater than 3.50 to 1.00 and a Projected Leverage Ratio of less than 6.60:1.00, together with a certification as of the Effective Date by a Responsible Officer of the Borrower that the Base Case Projections have been prepared in good faith based upon reasonable assumptions. The Administrative Agent shall have received a report of the Model Auditor reasonably satisfactory to the Administrative Agent restating the Model Auditor's audit of the Computer Model as of the Effective Date and shall have received a disk containing the Computer Model.
Base Case Projections. The Administrative Agent shall have received the Base Case Projections.
Base Case Projections. The Company shall have delivered to each of the Purchasers the Base Case Projections, in substantially the form of Schedule 4.1.27, which Base Case Projections shall be satisfactory to the Purchasers.
Base Case Projections. Delivery to Administrative Agent of the Base Case Projections, in form and substance satisfactory to each Lender.
Base Case Projections. The Administrative Agent shall have received base case projections with mutually agreed assumptions, demonstrating certain agreed minimum coverage levels, as certified by the Independent Engineer.
Base Case Projections. The Base Case Projections, meeting the Debt Sizing Criteria, together with a certificate of an Authorized Officer of the Borrower stating that such projections and supporting documents were prepared in good faith by the Borrower and are based upon assumptions which the Borrower considers to be reasonable, it being understood that such Base Case Projections are not to be viewed as facts and are subject to uncertainties and contingencies, many of which are beyond the control of the Borrower, that no assurance can be given that the Base Case Projections will be realized, that actual results may differ and such differences may be material.
Base Case Projections. The Administrative Agent and the Loan Insurer shall have received the Base Case Projections (as confirmed by the Independent Engineer) demonstrating minimum Debt Service Coverage Ratio during each year of the Facilities after Term-Conversion of no less than 1.37:1.0 and the average Debt Service Coverage Ratio during the scheduled term of the Facilities after Term-Conversion of no less than 1.53:1.0.
Base Case Projections. Exhibit 1.13 to the Commercial Agreement is deleted in its entirety and replaced by Exhibit 1.13 to this Amendment.
Base Case Projections. The Base Case Projections (a) have been prepared with due care, (b) fairly present the Issuer’s good faith expectations as at the Closing Date as to the matters covered thereby based on the best information available to the Issuer at the time of such Closing, (c) are based on reasonable assumptions as to the factual and legal matters material to the estimates therein and (d) are consistent with the Material Project Documents.
