Common use of Operating Report Clause in Contracts

Operating Report. Borrower shall deliver to Lender within 45 days of the end of each fiscal quarter after the Commercial Operation Date, a summary operating report with respect to the Project, which shall include, with respect to the period most recently ended, (a) a monthly and year-to-date numerical and narrative assessment of (i) the Project’s compliance with each material category in the then-current Annual Operating Budget, (ii) biofuels production and delivery, (iii) plant availability, including trips and scheduled and unscheduled outages, (iv) maintenance activity, (v) replacement of equipment of value in excess of $1,000,000, and (vi) material unresolved disputes with contractors, materialmen, suppliers or others and any related claims against Borrower, and (b) to the extent applicable, a comparison of year-to-date figures to corresponding figures provided in the prior year.