Construction Reports. (a) Prior to Substantial Completion with respect to each train of the Project, as soon as available and in any event within (i) twenty (20) days of the end of each month, a short form version of the monthly Construction Report from the EPC Contractor together with the then-current version of the Summary Milestone Schedule, substantially in a form acceptable to the Independent Engineer (provided, however, that the Borrower shall, within each such twenty (20) day period, also deliver a full version of the monthly Construction Report from the EPC Contractor and the then-current version of the Summary Milestone Schedule to the Independent Engineer), and (ii) thirty (30) days of the end of each month, monthly Construction Reports as to the Project and the Pipeline Improvements from the Independent Engineer; provided that the failure to provide the Construction Report from the Independent Engineer pursuant to clause (a)(ii) above within thirty (30) days of the end of each month that is not the last month of a Fiscal Quarter (other than as a result of an act or omission by the Borrower or its Affiliates) shall not constitute a Default or an Event of Default. (b) If Expansion Debt has been incurred and prior to Substantial Completion (as defined in the engineering, procurement and construction contract to be entered into with respect to the expansion development) of the additional liquefaction trains funded through the incurrence of such Expansion Debt, as soon as available and in any event within twenty (20) days of (A) each month-end, monthly construction progress reports from the contractor under the engineering, procurement and construction contract to be entered into with respect to the expansion development of such additional liquefaction trains, and (B) the end of each Fiscal Quarter, quarterly construction progress reports with respect to expansion development of such additional liquefaction trains from the Independent Engineer. (c) With respect to clause (a) above, such Construction Report shall set forth in reasonable detail: (i) estimated dates on which Ready for Start Up, First LNG Cargo, Ready for Performance Testing and Substantial Completion shall be achieved; (ii) the Borrower’s then-current estimate of anticipated Project Costs through Ready for Start Up, Ready for Performance Testing and Substantial Completion as compared to the Construction Budget and Schedule and reasons for material variances, and in the event of a material variance, the reasons therefor, and such other information reasonably requested by the Common Security Trustee; (iii) any occurrence of which the Borrower is aware that could reasonably be expected to (A) increase the total Project Costs above those set forth in the Construction Budget and Schedule, (B) delay Substantial Completion beyond the Guaranteed Substantial Completion Date or (C) have a Material Adverse Effect; (iv) if Substantial Completion is not anticipated to occur on or before the Guaranteed Substantial Completion Date, the reasons therefor (and a schedule recovery plan); (v) the status of construction of the Project, including progress under each of the EPC Contracts (and a description of any material defects or deficiencies with respect thereto) and the proposed construction schedule for the following ninety (90) days, including a description, as compared with the Construction Budget and Schedule of engineering, procurement, construction, commissioning, and testing status (including actual percentage complete versus planned percentage complete, document status, significant activities accomplished and planned and a summary of milestones planned and actually completed); (vi) the status of the Government Approvals necessary for the Development, including the dates of applications submitted or to be submitted and the anticipated dates of actions by Government Authorities with respect to such Government Approvals; and (vii) a listing of reportable environmental, health and safety incidents as well as any unplanned related impacts, events, accidents or issues that occurred during the report period and the compliance with Environmental Laws. (d) With respect to clause (b) above, such construction progress reports shall set forth in reasonable detail matters similar to those described in clause (c) above to the extent relevant in connection with the expansion of the additional liquefaction trains funded through the incurrence of the Expansion Debt or as otherwise acceptable to the Independent Engineer.
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Sources: Common Terms Agreement (Cheniere Energy Partners, L.P.)
Construction Reports. (a) Prior to Substantial the Project Phase 2 Completion with respect to each train of the ProjectDate, as soon as available and in any event within event:
(i) twenty (20) within 30 days of the end of each month, a short form version of the monthly Construction Report from the EPC Contractor together with the then-current version of the Summary Milestone Schedule, substantially in a form acceptable to the Independent Engineer (provided, however, that the Borrower shall, within each such twenty (20) day period, also deliver a full version of the monthly Construction Report from the EPC Contractor and the then-current version of the Summary Milestone Schedule to the Independent Engineer), and (ii) thirty (30) days of the end of each month, monthly Construction Reports as to the Project and the Pipeline Improvements from the Independent Engineer; provided that the failure to provide the Construction Report from the Independent Engineer pursuant to clause (a)(ii) above within thirty (30) days of following the end of each month that (or if such date is not a Business Day, the last month following Business Day), the Borrower shall deliver to the Intercreditor Agent, each Facility Agent and the Independent Engineer:
(A) each of the construction reports provided to the Obligors by the contractors identified in Annex 1 of Exhibit A to the EPC Contracts and the Pipeline Construction Contracts for the subject month;
(B) the executive summary report prepared by the Sponsor and provided to the Obligors for the subject month;
(C) progress curves for the component parts and the consolidated Phase 1 Project Facilities and the Phase 2 LNG Facility showing the planned and actual progress for the Phase 1 Project Facilities and the Phase 2 LNG Facility and such progress curves for the consolidated Project shall be based on the agreed weightings for each component part of the Project Phase 1 Development and Project Phase 2 Development (such progress curve to be broken out to show progress in respect of each of (x) the Phase 1 Project Facilities and (y) the Phase 2 LNG Facility);
(D) a Fiscal Quarter table showing the Construction Budget and Schedule as of the Upsize Closing Date, cash spend to date under each contract identified in Annex 1 of Exhibit A to the EPC Contracts and the Pipeline Construction Contracts, and the then-projected final cost of each contract identified in Annex 1 of Exhibit A to the EPC Contracts and the Pipeline Construction Contracts and the overall Project, the forecast of which shall be updated no less frequently than semi-annually with qualitative associated cost trend reports issued no less frequently than three times a year; and
(E) to the extent not already included in the reports described in clauses (a)(i)(A) through (D) above, a listing of reportable environmental, health and safety incidents, any material unplanned related impacts, events, accidents or issues, and any material non-compliance with Environmental Laws during the report period, and any amendments, modifications or updates to the Environmental and Social Management Plan and Equator Principles Action Plan that occurred during the report period (such information under clauses under sub-clauses (a)(i)(A) through (E), the “Supplied Reporting Data”);
(ii) by the fifteenth Business Day following receipt of the Supplied Reporting Data, a report outlining and detailing any exceptions or issues with the Supplied Reporting Data issued by the Independent Engineer regarding any material concern with respect to the Supplied Reporting Data; provided that, the failure to provide such by-exception report pursuant to this sub-clause (ii) by the fifteenth Business Day following receipt of such Supplied Reporting Data (other than as a result of an act or omission by the Borrower or its Affiliates) shall not constitute a an Unmatured Loan Facility Event of Default or an a Loan Facility Event of Default.
(b) If Expansion Debt has been incurred and prior to Substantial Completion (as defined in On not less than a quarterly basis, the engineeringIndependent Engineer shall attend the Manager’s monthly meeting with, procurement and construction contract to be entered into with respect at a minimum, the contractors party to the expansion development) of Material Construction Contracts, visit and inspect the additional liquefaction trains funded through Project Facilities and prepare a detailed quarterly construction report. Such quarterly construction report prepared by the incurrence of such Expansion Debt, as soon as available and in any event Independent Engineer shall be issued within twenty (20) days of (A) each month-end, monthly construction progress reports from the contractor under the engineering, procurement and construction contract to be entered into with respect to the expansion development of such additional liquefaction trains, and (B) 15 Business Days after the end of each Fiscal Quarter, quarterly construction progress reports with respect to expansion development of such additional liquefaction trains from the Independent Engineer.
(c) With respect to clause (a) above, such Construction Report site visit and shall set forth the following in reasonable detail:
(i) the estimated dates date on which Ready for Start Up, First the Independent Engineer expects the Borrower to load its first LNG Cargo, Ready for Performance Testing tanker with LNG produced at the Project;
(ii) the estimated date on which the Project Phase 1 Completion Date and Substantial the Project Phase 2 Completion Date shall be achieved;
(iiiii) the Borrower’s estimate of overall completion at the end of the subject quarter together with the Independent Engineer’s observations on same;
(iv) the then-current estimate of anticipated Project Costs through Ready for Start Up, Ready for Performance Testing and Substantial the Project Phase 2 Completion Date as compared to the then current Construction Budget and Schedule and reasons for material variances, and in the event of a material variancevariance (more than five percent (5%)), the reasons therefor, and such other information reasonably requested by the Common Security Trustee;
(iiiv) any event or circumstance the occurrence of which the Borrower is aware that could reasonably be expected to to:
(A) increase the total Project Costs materially (more than five percent) above those set forth in the then current Construction Budget and Schedule, ;
(B) delay Substantial the Project Phase 1 Completion Date beyond the Guaranteed Substantial Phase 1 LNG Facility Date Certain or delay the Project Phase 2 Completion Date or beyond the Phase 2 LNG Facility Date Certain (as reasonably anticipated by the Borrower as of such time); or
(C) have a Material Adverse Effect;
(ivvi) if Substantial the Project Phase 1 Completion Date is not anticipated to occur on or before the Guaranteed Substantial Phase 1 LNG Facility Date Certain or the Project Phase 2 Completion DateDate is not anticipated to occur on or before the Phase 2 LNG Facility Date Certain, the reasons therefor (and a discussion of the schedule recovery planplan and status of preparation and implementation);
(vvii) the status of construction of the ProjectProject Facilities, including progress under each contract identified in Annex 1 of the Exhibit A to each EPC Contracts Contract (and a description of any material defects or deficiencies with respect thereto) ), observations on the general appearance of the Project Facilities and the proposed construction schedule for the following ninety (90) days90 days of the Project Facilities, including a description, as compared with the then current Construction Budget and Schedule Schedule, of the status, as applicable, of engineering, procurement, construction, commissioning, commissioning and testing status (including actual percentage complete versus planned percentage complete, document status, significant activities accomplished and planned and a summary of milestones planned and actually completed)testing;
(viviii) the status of construction of the Government Approvals necessary for CP Express Pipeline, the Development, including condition of the dates right-of-way and environmental compliance;
(ix) the status of applications submitted or to be submitted and construction of the anticipated dates interconnection facilities being constructed in accordance with each of actions the Gas Transportation Agreements;
(x) a copy of any filing made by Government Authorities an Obligor with:
(A) FERC with respect to such Government Approvalsthe Development; andor
(viiB) a listing of reportable environmental, health and safety incidents as well as any unplanned related impacts, events, accidents or issues that occurred during the report period and the compliance DOE with Environmental Laws.
(d) With respect to clause (b) above, such construction progress reports shall set forth in reasonable detail matters similar to those described in clause (c) above to the extent relevant in connection with export of LNG from the expansion of the additional liquefaction trains funded through the incurrence of the Expansion Debt or as otherwise acceptable to the Independent Engineer.Project Facilities;
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Construction Reports. (a) Prior to Phase 1 Substantial Completion with respect to each train of the ProjectCompletion, as soon as available and in any event within (i) twenty (20) days of the end of each month, a short form version of the monthly Construction Report from the EPC Contractor together with the then-current version submission of each Borrowing Certificate, the Summary Milestone ScheduleBorrower shall deliver to the Agent a Construction Report, substantially in a the form acceptable of Exhibit G-1 or Exhibit G-2, as applicable, in form and substance satisfactory to the Independent Engineer (provided, however, that the Borrower shall, within each such twenty (20) day period, also deliver a full version of the monthly Construction Report from the EPC Contractor Agent and the then-current version of the Summary Milestone Schedule to the Independent Engineer), and (ii) thirty (30) days accompanied by a certificate of an Authorized Officer of the end of each month, monthly Construction Reports as to the Project and the Pipeline Improvements from the Independent Engineer; provided that the failure to provide the Construction Report from the Independent Engineer pursuant to clause (a)(ii) above within thirty (30) days of the end of each month that is not the last month of a Fiscal Quarter (other than as a result of an act or omission by the Borrower or its Affiliates) shall not constitute a Default or an Event of Default.
(b) If Expansion Debt has been incurred and prior to Substantial Completion (as defined in the engineering, procurement and construction contract to be entered into with respect to the expansion development) of the additional liquefaction trains funded through the incurrence of such Expansion Debt, as soon as available and in any event within twenty (20) days of (A) each month-end, monthly construction progress reports from the contractor under the engineering, procurement and construction contract to be entered into with respect to the expansion development of such additional liquefaction trains, and (B) the end of each Fiscal Quarter, quarterly construction progress reports with respect to expansion development of such additional liquefaction trains from the Independent Engineer.
(c) With respect to clause (a) above, such Construction Report shall set setting forth in reasonable detail:
(a) in the case of a Borrowing Certificate for a Phase 1 Loan:
(i) estimated dates on which Ready for Start Up, First LNG CargoCool Down, Ready for Performance Testing and Phase 1 Substantial Completion shall be achieved;,
(ii) the Borrower’s then-current estimate of anticipated Phase 1 Project Costs through Ready for Start UpCool Down, Ready for Performance Testing and Phase 1 Substantial Completion as compared to the Phase 1 Construction Budget and Schedule and reasons for material variances, and in the event of a material variance, the reasons therefor, and such other information reasonably requested by the Common Security Trustee;Agent,
(iii) any occurrence of which the Borrower is aware that could reasonably be expected to (Ai) increase the total Phase 1 Project Costs above those set forth in the Phase 1 Construction Budget and Schedule, (Bii) delay Phase 1 Substantial Completion beyond the Guaranteed Substantial Completion Date or (Ciii) have a Material Adverse Effect;,
(iv) if Phase 1 Substantial Completion is not anticipated to occur on or before the Guaranteed Substantial Completion DateDate (as such term is defined in the Phase 1 EPC Contract), the reasons therefor (and a schedule recovery plan);,
(v) the status of construction of the ProjectPhase 1, including progress under each of the Phase 1 EPC Contracts Contract (and a description of any material defects or deficiencies with respect thereto) and the proposed construction schedule for the following ninety (90) days, including a description, as compared with the Construction Budget and Schedule of engineering, procurement, construction, commissioning, and testing status (including actual percentage complete versus planned percentage complete, document status, significant activities accomplished and planned and a summary of milestones planned and actually completed);month,
(vi) the status of the Government Approvals necessary for the Development, including the dates of applications submitted or to be submitted and the anticipated dates of actions by Government Authorities with respect to such Government Approvals; , and
(vii) a listing of reportable environmental, health and safety incidents as well as any unplanned related impacts, events, accidents or issues that occurred during the report period and the compliance with or liabilities under Environmental Laws.;
(d) With respect to clause (b) above, such construction progress reports in the case of a Borrowing Certificate for a Phase 2 Loan:
(i) the estimated date on which Phase 2 Completion shall set forth in reasonable detail matters similar to those described in clause be achieved,
(cii) above the Borrower’s then-current estimate of anticipated Phase 2 Project Costs for the following 360 days as compared to the extent relevant Phase 2 Construction Budget and Schedule and reasons for material variances, and in connection with the expansion event of a material variance, the reasons therefor, and such other information reasonably requested by Agent,
(iii) any occurrence of which the Borrower is aware that could reasonably be expected to have a Material Adverse Effect,
(iv) the status of construction of Phase 2, including progress under each of the additional liquefaction trains funded through Phase 2 Construction Contracts,
(v) the incurrence status of the Expansion Debt Government Approvals necessary for the Development, including the dates of applications submitted or to be submitted and the anticipated dates of actions by Government Authorities with respect to such Government Approvals, and
(vi) a listing of reportable environmental, health and safety incidents as otherwise acceptable well as any unplanned related impacts, events, accidents or issues that occurred during the report period and the compliance with or liabilities under Environmental Laws; If during any fiscal quarter of the Borrower prior to Term Conversion Date there are no Loans requested, by the final Business Day of the month following the end of such fiscal quarter the Borrower shall deliver to the Independent EngineerAgent each of the above-referenced Construction Reports and certificates.
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Construction Reports. (a) Prior to Substantial the Project Phase 2 Completion with respect to each train of the ProjectDate, as soon as available and in any event within event:
(i) twenty (20) within 30 days of following the end of each monthmonth (or if such date is not a Business Day, a short form version of the monthly Construction Report from following Business Day), the EPC Contractor together with the then-current version of the Summary Milestone Schedule, substantially in a form acceptable Borrower shall deliver to the Independent Engineer Engineer:
(provided, however, that the Borrower shall, within A) each such twenty (20) day period, also deliver a full version of the monthly construction reports provided to the Obligors under the Material Construction Report from Contracts and Site Work Contracts during the EPC Contractor prior month;
(B) a consolidated progress curve showing the overall planned and actual progress for the Project based on the agreed weightings for each component part of the Project (such progress curve to be broken out to show progress in respect of each of (x) the Phase 1 Project Facilities and (y) the Phase 2 LNG Facility);
(C) a summary table showing the Construction Budget and Schedule as of the Upsize Closing Date, cash spend to date under each contract, and the then-current version projected final cost of each Material Construction Contract and Site Works Contract and the Summary Milestone Schedule overall Project, the forecast of which shall be updated no less frequently than semi-annually with qualitative cost trend reports no less frequently than three times a year;
(D) to the Independent Engineer)extent not already included in the reports described in clauses (a)(i)(A) through (C) above, a listing of reportable environmental, health and safety incidents, any material unplanned related impacts, events, accidents or issues, and any material non-compliance with Environmental Laws during the report period, and any amendments, modifications or updates to the Environmental and Social Management Plan and Equator Principles Action Plan that occurred during the report period; and
(ii) thirty (30) days by the fifteenth Business Day of the end of each monthmonth following the month in sub-clause (i) above, a monthly Construction Reports as to construction report prepared by the Independent Engineer regarding the Project and the Pipeline Improvements from the Independent EngineerFacilities; provided that the failure to provide the Construction Report from the Independent Engineer such construction report pursuant to this sub- clause (a)(iiii) above within thirty (30) days of by the fifteenth Business Day following the end of each such month that is not the last month of a Fiscal Quarter (other than as a result of an act or omission by the Borrower or its Affiliates) shall not constitute a an Unmatured Loan Facility Event of Default or an a Loan Facility Event of Default.
(b) If Expansion Debt has been incurred and prior to Substantial Completion (as defined in the engineering, procurement and construction contract to be entered into with respect to the expansion development) of the additional liquefaction trains funded through the incurrence of such Expansion Debt, as soon as available and in any event within twenty (20) days of (A) each month-end, The monthly construction progress reports from the contractor under the engineering, procurement and construction contract to be entered into with respect to the expansion development of such additional liquefaction trains, and (B) the end of each Fiscal Quarter, quarterly construction progress reports with respect to expansion development of such additional liquefaction trains from report prepared by the Independent Engineer.
(c) With respect to clause (a) above, such Construction Report Engineer shall set forth the following in reasonable detail:
(i) estimated dates on which Ready for Start Up, First LNG Cargo, Ready for Performance Testing and the LPS1 Substantial Completion Date, the LPS2 Substantial Completion Date, the LPS3 Substantial Completion Date (each as defined in the Phase 1 EPC Contract), the LPS5 Substantial Completion Date (as defined in the Phase 2 EPC Contract), each Commercial Operation Date, the Project Phase 1 Completion Date and the Project Phase 2 Completion Date shall be achieved;
(ii) the Borrower’s estimate of overall completion at the end of the subject month together with the Independent Engineer’s observations on same;
(iii) then-current estimate of anticipated Project Costs through Ready for Start Up, Ready for Performance Testing and Substantial the Project Phase 2 Completion Date as compared to the then current Construction Budget and Schedule and reasons for material variances, and in the event of a material variance, the reasons therefor, and such other information reasonably requested by the Common Security Trustee;
(iiiiv) any event or circumstance the occurrence of which the Borrower is aware that could reasonably be expected to to:
(A) increase the total Project Costs materially above those set forth in the then current Construction Budget and Schedule, ;
(B) delay Substantial the Project Phase 1 Completion Date beyond the Guaranteed Substantial Phase 1 LNG Facility Date Certain or the Project Phase 2 Completion Date or beyond the Phase 2 LNG Facility Date Certain (as reasonably anticipated by the Borrower as of such time); or
(C) have a Material Adverse Effect;
(ivv) if Substantial the Project Phase 1 Completion Date is not anticipated to occur on or before the Guaranteed Substantial Phase 1 LNG Facility Date Certain or the Project Phase 2 Completion DateDate is not anticipated to occur on or before the Phase 2 LNG Facility Date Certain, the reasons therefor (and a discussion of the schedule recovery plan);
(vvi) the status of construction of the ProjectProject Facilities, including progress under each of the EPC Contracts Material Construction Contract and Site Works Contract (and a description of any material defects or deficiencies with respect thereto) ), and the proposed construction schedule for the following ninety (90) days90 days of the Project Facilities, including a description, as compared with the then current Construction Budget and Schedule Schedule, of the status of engineering, procurement, construction, commissioning, commissioning and testing status (including actual percentage complete versus planned percentage complete, document status, significant activities accomplished and planned and a summary of milestones planned and actually completed)testing;
(vivii) the status of construction of the Government Approvals necessary for Gator Express Pipeline;
(viii) the Development, including status of construction of the dates interconnection facilities being constructed in accordance with each of applications submitted or to be submitted and the anticipated dates Gas Transportation Agreements;
(ix) a copy of actions any filing made by Government Authorities an Obligor with:
(A) FERC with respect to such Government Approvalsthe Development; andor
(viiB) a listing of reportable environmental, health and safety incidents as well as any unplanned related impacts, events, accidents or issues that occurred during the report period and the compliance DOE with Environmental Laws.
(d) With respect to clause (b) above, such construction progress reports shall set forth in reasonable detail matters similar to those described in clause (c) above to the extent relevant in connection with export of LNG from the expansion of the additional liquefaction trains funded through the incurrence of the Expansion Debt or as otherwise acceptable to the Independent Engineer.Project Facilities,
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Construction Reports. (a) Prior to Substantial the Project Phase 1 Completion with respect to each train of the ProjectDate, as soon as available and in any event within event:
(i) twenty (20) within 30 days of the end of each month, a short form version of the monthly Construction Report from the EPC Contractor together with the then-current version of the Summary Milestone Schedule, substantially in a form acceptable to the Independent Engineer (provided, however, that the Borrower shall, within each such twenty (20) day period, also deliver a full version of the monthly Construction Report from the EPC Contractor and the then-current version of the Summary Milestone Schedule to the Independent Engineer), and (ii) thirty (30) days of the end of each month, monthly Construction Reports as to the Project and the Pipeline Improvements from the Independent Engineer; provided that the failure to provide the Construction Report from the Independent Engineer pursuant to clause (a)(ii) above within thirty (30) days of following the end of each month that (or if such date is not a Business Day, the last month following Business Day), the Borrower shall deliver to the Intercreditor Agent, each Facility Agent and the Independent Engineer:
(A) each of the construction reports provided to the Obligors by the contractors identified in Annex 1 of Exhibit A to the Phase 1 EPC Contract and the Phase 1 Pipeline Construction Contracts for the subject month;
(B) the executive summary report prepared by the Sponsor and provided to the Obligors for the subject month;
(C) progress curves for the component parts and the consolidated Phase 1 LNG Facility showing the planned and actual progress for the Project and such progress curves for the consolidated Phase 1 LNG Facility shall be based on the agreed weightings for each component part of the Project;
(D) a Fiscal Quarter table showing the Construction Budget and Schedule as of the Closing Date, cash spend to date under each contract identified in Annex 1 of Exhibit A to the Phase 1 EPC Contract and the Phase 1 Pipeline Construction Contracts, and the then-projected final cost of each contract identified in Annex 1 of Exhibit A to the Phase 1 EPC Contract and the Phase 1 Pipeline Construction Contracts and the overall Project, the forecast of which shall be updated no less frequently than semi-annually with qualitative associated cost trend reports issued no less frequently than three times a year; and
(E) to the extent not already included in the reports described in clauses (a)(i)(A) through (D) above, a listing of reportable environmental, health and safety incidents, any material unplanned related impacts, events, accidents or issues, and any material non-compliance with Environmental Laws during the report period, and any amendments, modifications or updates to the Environmental and Social Management Plan and Equator Principles Action Plan that occurred during the report period (such information under clauses under sub-clauses (a)(i)(A) through (E), the “Supplied Reporting Data”);
(ii) by the fifteenth Business Day following receipt of the Supplied Reporting Data, a report outlining and detailing any exceptions or issues with the Supplied Reporting Data issued by the Independent Engineer regarding any material concern with respect to the Supplied Reporting Data; provided that, the failure to provide such by-exception report pursuant to this sub-clause (ii) by the fifteenth Business Day following receipt of such Supplied Reporting Data (other than as a result of an act or omission by the Borrower or its Affiliates) shall not constitute a an Unmatured Loan Facility Event of Default or an a Loan Facility Event of Default.
(b) If Expansion Debt has been incurred and prior to Substantial Completion (as defined in On not less than a quarterly basis, the engineeringIndependent Engineer shall attend the Manager’s monthly meeting with, procurement and construction contract to be entered into with respect at a minimum, the contractors party to the expansion development) of Phase 1 Material Construction Contracts, visit and inspect the additional liquefaction trains funded through Project Facilities and prepare a detailed quarterly construction report. Such quarterly construction report prepared by the incurrence of such Expansion Debt, as soon as available and in any event Independent Engineer shall be issued within twenty (20) days of (A) each month-end, monthly construction progress reports from the contractor under the engineering, procurement and construction contract to be entered into with respect to the expansion development of such additional liquefaction trains, and (B) 15 Business Days after the end of each Fiscal Quarter, quarterly construction progress reports with respect to expansion development of such additional liquefaction trains from the Independent Engineer.
(c) With respect to clause (a) above, such Construction Report site visit and shall set forth the following in reasonable detail:
(i) the estimated dates date on which Ready for Start Up, First the Independent Engineer expects the Borrower to load its first LNG Cargo, Ready for Performance Testing and Substantial tanker with LNG produced at the Project;
(ii) the estimated date on which the Project Phase 1 Completion Date shall be achieved;
(iiiii) the Borrower’s estimate of overall completion at the end of the subject quarter together with the Independent Engineer’s observations on same;
(iv) the then-current estimate of anticipated Project Costs through Ready for Start Up, Ready for Performance Testing and Substantial the Project Phase 1 Completion Date as compared to the then current Construction Budget and Schedule and reasons for material variances, and in the event of a material variancevariance (more than five percent (5%)), the reasons therefor, and such other information reasonably requested by the Common Security Trustee;
(iiiv) any event or circumstance the occurrence of which the Borrower is aware that could reasonably be expected to to:
(A) increase the total Project Costs materially (more than five percent) above those set forth in the then current Construction Budget and Schedule, ;
(B) delay Substantial the Project Phase 1 Completion Date beyond the Guaranteed Substantial Completion Phase 1 LNG Facility Date or Certain (as reasonably anticipated by the Borrower as of such time); or
(C) have a Material Adverse Effect;
(ivvi) if Substantial the Project Phase 1 Completion Date is not anticipated to occur on or before the Guaranteed Substantial Completion DatePhase 1 LNG Facility Date Certain, the reasons therefor (and a discussion of the schedule recovery planplan and status of preparation and implementation);
(vvii) the status of construction of the ProjectProject Facilities, including progress under each contract identified in Annex 1 of Exhibit A to the Phase 1 EPC Contracts Contract (and a description of any material defects or deficiencies with respect thereto) ), observations on the general appearance of the Project Facilities and the proposed construction schedule for the following ninety (90) days90 days of the Project Facilities, including a description, as compared with the then current Construction Budget and Schedule Schedule, of the status, as applicable, of engineering, procurement, construction, commissioning, commissioning and testing status (including actual percentage complete versus planned percentage complete, document status, significant activities accomplished and planned and a summary of milestones planned and actually completed)testing;
(viviii) the status of construction of the Government Approvals necessary for CP Express Pipeline, the Development, including condition of the dates right-of-way and environmental compliance;
(ix) the status of applications submitted or to be submitted and construction of the anticipated dates interconnection facilities being constructed in accordance with each of actions the Phase 1 Gas Transportation Agreements;
(x) a copy of any filing made by Government Authorities an Obligor with:
(A) FERC with respect to such Government Approvalsthe Development; andor
(viiB) a listing of reportable environmental, health and safety incidents as well as any unplanned related impacts, events, accidents or issues that occurred during the report period and the compliance DOE with Environmental Laws.
(d) With respect to clause (b) above, such construction progress reports shall set forth in reasonable detail matters similar to those described in clause (c) above to the extent relevant in connection with export of LNG from the expansion of the additional liquefaction trains funded through the incurrence of the Expansion Debt or as otherwise acceptable to the Independent Engineer.Project Facilities;
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