Common use of Loan Commitment Amount Reductions Clause in Contracts

Loan Commitment Amount Reductions. The Borrower may, on not less than thirty (30) days’ prior written notice to DOE and upon the satisfaction of any consent requirement or other applicable provisions of this Agreement and each other Financing Document, permanently reduce the Guaranteed Loan Commitment Amount for one (1) or more Tranches, in whole or in part, but only if: (i) the Borrower demonstrates to DOE’s satisfaction that the total funding committed and available to the Project is sufficient to pay all remaining Scheduled Pre-Completion Costs in accordance with the then-applicable Construction Budget, Project Milestone Schedule and Base Case Financial Model; (ii) DOE is satisfied that the proposed reduction or cancellation would not reasonably be expected to cause a Default or an Event of Default; (iii) the Borrower shall have delivered to DOE by an Acceptable Delivery Method, a certificate, in form and substance satisfactory to DOE, with respect to the matters set forth in clauses (i) and (ii) above; and (iv) upon such cancellation or reduction, the Borrower shall pay all expenses and other amounts then due with respect to, or as a result of, such cancellation or reduction under this Agreement. Once reduced or cancelled pursuant to this Section, the Guaranteed Loan Commitment Amount may not be increased.

Loan Commitment Amount Reductions. The Borrower may, on not less than thirty fifteen (3015) days’ prior written notice to DOE and upon the satisfaction of any consent requirement or other applicable provisions of this Agreement and each other Financing Document, Document permanently cancel or reduce the Guaranteed Loan Commitment Amount for one Amount: (1i) or more Tranches, in whole or in part, but only if: (iA) the Borrower demonstrates to DOE’s satisfaction that the total funding committed (including all debt, equity and any other committed sources of capital) available to the Project is sufficient to pay all remaining Scheduled Pre-Completion Project Costs in accordance with the then-applicable Construction Budget, Integrated Project Milestone Schedule and Base Case Financial Model; (iiB) DOE is satisfied that the proposed reduction or cancellation would not reasonably be expected to cause a Default or an Event of Default; (iiiC) the Borrower shall have delivered to DOE by an Acceptable Delivery Method, a certificate, in form and substance satisfactory to DOE, with respect to the matters set forth in clauses (iA) and (iiB) above; and (ivD) upon such cancellation or reduction, the Borrower shall pay all expenses and other amounts then due with respect to, or as a result of, such cancellation or reduction under this Agreement. Once reduced or cancelled ; and (ii) in whole, but only if the Borrower, pursuant to this Section, the Guaranteed Loan Commitment Amount may not be increased.Section 3.05(b) (