Increase in Facility Size Sample Clauses
The "Increase in Facility Size" clause allows for the expansion of the total amount available under a loan or credit facility. Typically, this clause outlines the conditions under which the borrower can request an increase, such as obtaining lender consent, meeting certain financial covenants, or paying additional fees. Its core practical function is to provide flexibility for the borrower to access additional funds as their financing needs grow, while ensuring that the lender retains control over the terms and risk exposure associated with the increased facility size.
Increase in Facility Size. To the extent that Seller has constructed the Facility in accordance with Good Utility Practice, and met all other requirements under Section 3.4(b) of this Agreement, if the Independent Engineer’s certification provides that the Actual Facility Size exceeds the Proposed Facility Size as provided in Exhibit A, the Buyer’s Percentage Entitlement will be recalculated and replaced by the percentage derived by dividing the Contract Maximum Amount by the Actual Facility Size.
Increase in Facility Size. To the extent that Seller has constructed the Facility in accordance with Good Utility Practice, and met all other requirements under Section 3.4(b) of this Agreement, if the Independent Engineer’s certification pursuant to Section 3.4(b)(xiv)(A) or 3.3(b) provides that the Actual Facility Size exceeds the “Proposed Facility Size” as provided in Exhibit A, Buyer’s Percentage Entitlement will not be recalculated or otherwise affected but the Contract Maximum Amount, Operating Period Security and Default Credit Support requirements under Section 9.2 will be automatically and permanently increased by an amount to reflect Buyer’s Percentage Entitlement of the numerical difference between the Actual Facility Size and such “Proposed Facility Size,” which increased Contract Maximum Amount, Operating Period Security and Default Credit Support requirements shall be stated in a notice from Seller to Buyer, which notice shall be binding absent manifest error. The Total Actual Facility Size shall not in any event exceed .
Increase in Facility Size. To the extent that Seller has constructed the Facility in accordance with Section 3.3(a), and met all other requirements under Section 3.4(b) of this Agreement, if the Independent Engineer’s certification provides that (i) the Actual Facility Size exceeds MW but is equal to or less than MW, the Buyer’s Percentage Entitlement will remain unchanged and the Contract Maximum Amount will be recalculated and replaced by the amount derived by multiplying Buyer’s Percentage Entitlement by the Actual Facility Size, and (ii) the Actual Facility Size exceeds MW, the Contract Maximum Amount will remain unchanged and the Buyer’s Percentage Entitlement will be recalculated and replaced by the percentage derived by dividing the Contract Maximum Amount by the Actual Facility Size.