Common use of PRELIMINARY DOCUMENTATION Clause in Contracts

PRELIMINARY DOCUMENTATION. On the date that is L minus (-) one hundred and eighty (180) days: (i) In order for the Customer to be eligible for consideration as a Category 1 Customer on the Conversion Commitment Date, the Customer shall submit the Appraisal to AEF, and if the Customer proposes to be designated as a Category 1C Customer, the Customer shall also submit information satisfactory to AEF to ascertain compliance with the Category 1C QL Loan Life Cover Ratio and may submit a proposed Capex Budget. AEF shall develop for the Customer a financial pro forma which shall be sufficient to ascertain compliance with such Category 1C QL Loan Life Cover Ratio. (ii) In order for the Customer to be eligible for consideration as a Category 2 Customer on the Conversion Commitment Date, the Customer shall submit to AEF (A) the Conversion Business Plan and (B) the Appraisal. AEF shall develop the Conversion Base Case in accordance with ANNEX 2, notwithstanding the existence of a Preliminary Base Case as a Category 3 Customer for the Customer. (iii) If a Preliminary Base Case exists, and if the other matters referred to in Section 9.01(c) have been established and accepted by the Customer before the date that is L minus (-) one hundred and eighty (180) days, then in order for the Customer to be eligible for consideration as a Category 3 Customer on the Conversion Commitment Date, the Customer shall submit to AEF: (A) the Conversion Business Plan; (B) the Appraisal; and (C) the Expert Studies supporting the Conversion Business Plan. If such Conversion Business Plan and the Expert Studies contain no material modification of a fundamental business assumption (as determined by AEF) underlying the Preliminary Business Plan, and no other material change in the business of the Customer shall have occurred, then the Preliminary Base Case shall become the Conversion Base Case. If any such material modification shall have occurred, then AEF shall modify the Preliminary Base Case and develop the Conversion Base Case in accordance with the Conversion Business Plan, the Appraisal and the Expert Studies. If AEF determines that the Conversion Business Plan or the Expert Studies identify a material modification of a fundamental business assumption (other than a modification affecting solely the calculation of the relevant ratios required to be determined in accordance with ANNEX 3) or a material risk not identified in the Preliminary Business Plan, AEF shall notify the Customer of any modifications to the matters referred to in clauses 9.01(c)(ii) through (v) arising by reason thereof, whereupon the matters referred to therein shall be revised in accordance with such modifications. (iv) If a Preliminary Base Case does not exist, or if a Preliminary Base Case exists and the other matters referred to in Section 9.01(c) were established but not accepted by the Customer before the date that is L minus (-) one hundred and eighty (180) days, then in order for the Customer to be eligible for consideration as a Category 3 Customer on the Conversion Commitment Date, the Customer shall submit to AEF: (A) the Conversion Business Plan; (B) the Appraisal; and (C) the Expert Studies supporting the Conversion Business Plan. AEF shall determine whether a Conversion Commitment can be provided for the Customer and, if so, upon what terms and conditions.