Project Debt Financing Sample Clauses
Project Debt Financing. Each JV Entity and each of its related Project Companies, and FR Holdings with respect to assisting the JV Entities and Project Companies, shall use commercially reasonable efforts to obtain a commitment in a timely manner from one or more financial institutions or other third-parties to provide the Project Debt Financing for each of the Projects accepted to the Registry up to the maximum amount contemplated in the Business Plan. The Parties will cooperate with each other in connection with the financing of the Projects in order to keep SunEdison apprised as to the debt financing process and material loan terms and the JV Entities shall promptly respond to any inquiries from SunEdison as to the status of any efforts to obtain Project Debt Financing; provided, however, that notwithstanding SunEdison’s agreement to cooperate with the JV Entities in connection with the Project Debt Financing, the JV Entities shall have the sole and exclusive responsibility for obtaining the Project Debt Financing for each Project and the JV Entities shall be obligated to purchase a Project once accepted to the Registry without regard to the availability or lack of availability of Project Debt Financing for such Project, subject to the aggregate amount of Unused Capital Commitments.
Project Debt Financing. Capital expenditures relating to the implementation of the Boleo Project, together with working capital requirements shall be financed, to the maximum degree possible, on a project finance, non recourse basis with one or more Financial Institutions in accordance with the Financing Plan and the financing terms presented to and accepted by the parties at the closing of the Share Purchase Agreement, with such changes as may be approved by the Board and, if required, the Shareholders (the “Project Debt Financing”). It is understood and agreed that:
(a) the Project Debt Financing will occur through the Corporation and that split-financing will not be permitted; and
(b) no Party shall take any action or refrain from taking any action that is reasonably likely to be inconsistent with this Section or reasonably likely to materially hinder the ability of the Corporation to obtain the Project Debt Financing. Nothing in this Section shall prevent any Party from exercising its rights under Section .
Project Debt Financing. (a) The Corporation shall use its commercially reasonable efforts to secure the Project Debt Financing as promptly as possible. The Corporation shall keep the Investor regularly informed as to the progress of the Project Debt Financing, including providing drafts of the related debt commitment letters and definitive documentation in respect of the Project Debt Financing as requested by the Investor, acting reasonably.
(b) The Parties agree that the Project Debt Financing shall be entered into with lenders of international reputation and standing that are not Sanctioned Persons, on terms and conditions that are customary for limited recourse project financing for projects of a similar scope and nature to the Projects.
(c) The Corporation shall maintain [REDACTED – COMMERCIALLY SENSITIVE INFORMATION] ratio of no more than [REDACTED – COMMERCIALLY SENSITIVE INFORMATION] following FID.