Common use of Construction Progress Reports Clause in Contracts

Construction Progress Reports. Prior to the Completion Date, the Borrower shall deliver to the Administrative Agent (who shall promptly deliver to the Lenders) and the Independent Engineer (within thirty days after the end of each calendar quarter): (a) to the extent provided to a FLNG2 Subsidiary by a Material Project Counterparty, a copy of any construction reports provided to the FLNG2 Subsidiaries under the EPC Contracts and the MSA; and (b) an updated Construction Budget and Schedule based on assumptions materially consistent with the Closing Base Case Model Assumptions, showing achievement of applicable milestones, cash spend to date in respect of Project Costs, details of any expected delays to achievement of the Completion Date and details of any material deviations from the Construction Budget and Schedule delivered for the previous period.

Construction Progress Reports. Prior to the Completion Date, the Borrower shall deliver to the Administrative Agent (who shall promptly deliver to the Lenders) and the Independent Engineer (within thirty days after the end of each calendar quarter): ): (a) to the extent provided to a FLNG2 Subsidiary by a Material Project Counterparty, a copy of any construction reports provided to the FLNG2 Subsidiaries under the EPC Contracts and the MSA; and and (b) an updated Construction Budget and Schedule based on assumptions materially consistent with the Closing Base Case Model Assumptions, showing achievement of applicable milestones, cash spend to date in respect of Project Costs, details of any expected delays to achievement of the Completion Date and details of any material deviations from the Construction Budget and Schedule delivered for the previous period.. Section 5.18 IE