Common use of FINANCIAL CLOSURE Clause in Contracts

FINANCIAL CLOSURE. The Project shall achieve Financial Closure within 09 (Nine) months from the Effective Date of the signing of PPA (for e.g. if if Effective date of PPA signing is 07.03.2020,, then scheduled Financial Closure date shall be 07.12.2020). At this stage, the SPDs shall report tie-up of Financing Arrangements for the Projects. In this regard, the SPD shall submit a certificate from all financing agencies regarding the tie-up of funds indicated for the Project. Additionally, the SPD shall furnish documentary evidence towards the following: - a. The orders placed/ agreements entered into, for supply of plants and equipment for the Project.

FINANCIAL CLOSURE. The Project shall achieve Financial Closure within 09 07 (NineSeven) months from the Effective Date of the signing of PPA (for e.g. if if Effective date of PPA signing is 07.03.2020,, then scheduled Financial Closure date shall be 07.12.202007.10.2020). At this stage, the SPDs shall report tie-up of Financing Arrangements for the Projects. In this regard, the SPD shall submit a certificate from all financing agencies regarding the tie-up of funds indicated for the Project. Additionally, the SPD shall furnish documentary evidence towards the following: - a. The orders placed/ agreements entered into, for supply of plants and equipment for the Project.