Financing Condition. It is understood that, subject to reimbursement (see section 4.1.2.2), PJM will be required to make initial expenditures to cover Capitalized Expansion Costs as defined herein (see section 4.1. 2.1). It is agreed that, except for the development of the Project Implementation Plan, PJM shall not be required to incur any Capitalized Expansion Costs until and unless one or more financial closings have occurred under which PJM has obtained financing in a total amount no less than that specified in section 4.1.2.1.
Appears in 3 contracts
Sources: PJM South Implementation Agreement, PJM South Implementation Agreement (Virginia Electric & Power Co), PJM South Implementation Agreement (Dominion Resources Inc /Va/)