Project Budgets. Each of the Project Budgets reflects, by category and line items, the purposes and the estimated amounts for which funds to be advanced by Agent and Lenders under this Agreement are to be used. Agent and Lenders shall not be required to disburse for any category or line item more than the amount specified therefor in the applicable Project Budget, except as provided in Sections 2.10 and 2.11 hereof.
Project Budgets. Subject to adjustment as permitted in Section 2.10 above, the Project Budgets accurately reflect all Project Costs.
Project Budgets. 25 3.1.15 Project Schedules.................................................................... 25 3.1.16 Base Case Project Projections........................................................ 26 3.1.17 No Material Adverse Change........................................................... 26 3.1.18
Project Budgets. The COMMISSION shall develop separate project budgets, as it deems appropriate, for all other costs and may recommend and contract with member units or other parties as necessary to pay such costs. For the purpose of initial acquisition, the allocation of costs shall be as set forth in Appendix B.
Project Budgets. (a) Company Management shall deliver to the Board of Managers a budget for the Project, which shall include capital expenditures, cash flow, projected EBITDA and other financial projections (setting forth in detail the assumptions therefor) for the Project for the period from initial development through completion and/or sale by the Company (“Project Budget”). The initial Project Budget is attached hereto as Exhibit C. Any subsequent Project Budget shall be delivered to the Board of Managers at least thirty (30) days prior to the end of the then-current Fiscal Year.
Project Budgets. Borrower shall have furnished the Lead Arrangers budgets in substantially the form of Appendices G-4A through G-4E for all anticipated costs to be incurred in connection with the construction and start-up of each of the Initial Projects, including in such budgets all construction and non-construction costs, and including all interest, taxes and other carrying costs, non-allocated costs of Borrower, and such other information as the Lead Arrangers may require, together with a balanced statement of sources (including an allocation between Loan proceeds and Contributions) and uses of proceeds (and any other funds necessary to complete each of the Initial Projects), broken down as to separate construction phases and components, which project budgets shall be satisfactory to the Lead Arrangers.
Project Budgets. Borrower shall have furnished Administrative Agent on behalf of the Banks budgets in substantially the form of the Project Budgets delivered pursuant to Section 3.1.14 but with such changes as are required to address the specifics of such Subsequent Project for all anticipated costs to be incurred in connection with the construction and start-up of such Subsequent Project, including in such budgets all construction and non-construction costs, and including all interest, taxes and other carrying costs, together with a balanced statement of sources (including an allocation between Construction Loan proceeds and Contributions) and uses of proceeds (and any other funds necessary to complete such Subsequent Project), broken down as to separate construction phases and components.
Project Budgets. Borrower shall have furnished Administrative Agent on behalf of the Banks a budget for such Subsequent Project and, if applicable, a revised budget for Borrower in substantially the form of the Project Budgets delivered pursuant to Section 3.1.14 but with such changes as are required to address the specifics of such Subsequent Project for all anticipated costs to be incurred in connection with the construction and start-up of such Subsequent Project, including in such budgets all construction and non-construction costs, and including all interest, taxes and other carrying costs, and such other information as the Technical Committee may require, together with a balanced statement of sources (including an allocation between Construction Loan proceeds and Contributions) and uses of proceeds (and any other funds necessary to complete such Subsequent Project), broken down as to separate construction phases and components, which project budgets shall be in form and substance satisfactory to the Technical Committee.
Project Budgets. Borrower shall have furnished to Administrative Agent budgets each dated June 28, 2008 (“Project Budgets”) estimating all anticipated costs to be incurred in connection with the construction and start-up of each Project, including in such budget all construction and non-construction costs and Estimated Interconnection Costs, and including all interest, taxes and other carrying costs, and such other information as Administrative Agent may reasonably require, together with a balanced statement of uses and anticipated sources of funds necessary to complete each Project, broken down as to separate construction phases and components, which Project Budgets shall be reasonably satisfactory to Administrative Agent.
Project Budgets. BCHA has engaged a financial consultant, X.X. Xxxxx, Inc., a Colorado corporation, doing business as X. X. Xxxxx Companies (“X.X. Xxxxx”), to prepare construction and budgets for the Project. The construction budget is based primarily on the general contractor’s estimate of construction costs, and includes the cost of off-site work and on-site work, construction costs (including a contingency), permitting/tap fees, architectural, engineering and other design fees, construction interim costs (including the cost of insurance and payment and performance bonds), market and environmental studies, consulting fees, and legal fees. The initial construction budget is attached as Exhibit D-1, and the initial operating budget is attached as Exhibit D-6. By signing this Agreement, each Party approves both such initial budgets.
