Project Finance. Each Obligor shall not, and the Company shall cause each of the PGS Subsidiaries which is not an Obligor not to, invest in or extend any loans or any other form of credit or grant any guarantee or indemnity to, or for the benefit of, any Project Company or a Project or otherwise voluntarily assume any liability, whether actual or contingent, in respect of any obligation of any Project Company or Project; provided that such investment, loans, credit guarantee, indemnity or other liability shall be permitted in an amount not to exceed the sum of:
Project Finance. Subject to (i) the terms and conditions of the ABL Credit Facility and (ii) approval by lenders holding at least 75% in principal amount of the Refinanced Loan, CPC permitted to (x) form a wholly-owned special purpose subsidiary and (y) transfer thereto certain assets (including fixed assets) to be agreed upon (the “Specified Assets”) of CPC (which assets shall thereupon be released from the liens securing the Refinanced Loan), for the purpose of enabling CPC to cause to be incurred by such special purpose subsidiary project financing and equipment financing indebtedness to be used to fund the purchase or acquisition of assets utilized solely in furtherance of the growth of CPC business lines to be agreed upon. All of the equity interests and other assets in such special purpose subsidiary shall be pledged to secure the Refinanced Loan, subject to the liens securing each of the applicable project financing, the ABL Credit Facility and the Senior Secured Term Loan.
Project Finance. (a) The Lessee may hypothecate, create charge, or create mortgage or other encumbrances for the limited purpose of raising funds for the Project in favour of a bank or financial institution, for securing any amount and payable by it to such bank or financial institution. Provided, however, all such hypothecations, charges, mortgages, charges or encumbrances shall be subject to the rights of the Lessor under this Lease Deed, the RFP Documents and any modification or amendment thereof. It is specified that all such funds raised shall be deposited in an escrow account with the sole purpose of use of such funds implementation of the Project. It is agreed that the Lessor shall have first charge on the Hotel Premises at all times during the Term.
Project Finance. Following the Closing, the CZH Holders may by notice in writing request SolarMax China to use commercially reasonable efforts to arrange for project financing on behalf of the Company on such terms as the Company may determine to be reasonable, based on the tasks required for identifying, planning, and procuring certain capital intensive solar projects, and in all cases, subject to the final terms of usual and customary definitive documents negotiated with SolarMax China, the Company and/or any other counterparties and subject to a project budget proposed by the CZH Holders and subject to SolarMax’ and any proposed lenders’ approval. For the avoidance of doubt, it is understood that any project financing will be subject to negotiation of financing and this Agreement does not confer upon any Party or the Company any right to obtain financing from the Company and none of SolarMax, SolarMax China or the Company shall have any obligation whatsoever to provide access to funds or direct financing to the CZH Holders (including Affiliates of CZH Holders and third party transferees) under this Agreement.
Project Finance. 3.1 The parties acknowledge that the Recipient will seek to arrange:
Project Finance. Asset Type Code Description PF1 Project finance: Industrial equipment PF2 Project finance: Leisure and gaming PF3 Project finance: Natural resources and mining PF4 Project finance: Oil and gas PF5 Project finance: Power PF6 Project finance: Public finance and real estate PF7 Project finance: Telecommunications PF8 Project finance: Transport PF1000-PF1099 Reserved Schedule 4 XXXXX’X RATING DEFINITIONS
Project Finance. Project Finance: Role of Developers and Sponsors The private sector’s involvement in the power sector takes on two driving roles: that of developer and sponsor. These roles are in many instances fulfilled by the same party. However, the roles may be split, and sometimes are fulfilled by a consortium. The developer is often the project originator, often a local party, who develops the project to a point where it requires large amounts of capital/equity. A local party with a keen understanding of the domestic power context and political environment dynamics can be advantageous. The developer will generally identify and procure, either outright or through a long-term lease, suitable land for the project. In addition, the developer will commission an environmental and social impact assesment (ESIA) and obtain a written commitment for a PPA, including the tariff (and host government support), with the offtaker. The developer (if not the same party as the sponsor) will then approach the market and enter into a development agreement with the sponsor or other international developers, assuming those entities can bring the financial resources required to develop and construct the project. The sponsor provides the funding to move from concept to financial close. The sponsor's activities include paying for or finalising the: ESIA according to international lender standards, with a strong emphasis on the impact on local communities and the long-term sustained effect of the project on them. Renewable resource measurements, which typically take at least 12 months in most cases. Site design and layout. Detailed engineering design, tender processes, and selecting EPC contractors and equipment suppliers. Project debt raising. Investment committee approval for its own sponsor equity. The conclusion of all project legal agreements. Project construction and commissioning. Operation of the project assets.
Project Finance. As announced on 26 June 2019, the Company entered into an investment committee approved term sheet with Sprott to provide a US$60 million facility to be utilized towards the financing of the Okvau Gold Project. Xxxxxx'x financing of the Okvau Gold Project will combine the strong development credentials of the Emerald team with the financial strength of the respected Sprott group. The key terms of the Okvau Facility were outlined in the 26 June 2019 announcement and include satisfaction of customary conditions, including the MIA. Emerald and Xxxxxx are continuing to advance the preparation of formal documentation and satisfaction of conditions precedent to enable the drawdown of debt in the near term and the Board has committed to the development of the Okvau Gold Project subject to finalising project funding. For further information please contact Emerald Resources XX Xxxxxx Xxxx Managing Director ASX Announcement & Media Release 6 January 2020 Fast Facts ASX Code: EMR Shares on issue: 3,048 million Market Cap: ~$122 million Cash: A$14.9 million (30 September 2019) Listed Investments: $0.05 million (30 Sept 2019) Board & Management Xxxxx Xxx XX, Non-Executive Chairman Xxxxxx Xxxx, Managing Director Xxxx Xxxxx, Executive Director Xxxx Xxxxxxx, Non- Executive Director Xxxx Xxxxxxxx, Non-Executive Director Xxxx Xxxxxxxx, Company Secretary Xxxxx Xxxxxxxxx, Chief Financial Officer Company Highlights ▪ First mover in an emerging gold province in Cambodia ▪ Mineral Investment Agreement and Industrial Mining Licence granted over the Okvau Gold Project (100% owned) allowing for the development of the Okvau Deposit ▪ Okvau Deposit: Indicated and Inferred Mineral Resource Estimate of 1.14Moz at 2.0g/t Au ▪ DFS completed and demonstrates high grade, low cost, compelling development economics: o Ore Reserve of 14.3Mt & 2.0g/t Au for 0.9Mozs in a single open pit with waste:ore ratio of 5.8:1 o LOM average annual production of 106,000ozs pa o AISC US$754/oz over LOM o Using US$1.450/oz Au gold price: - NPV(5%) US$337M pre-tax and US$238M post-tax - IRR 69% pa pre-tax and 57% post- tax - Payback ~1.4 years pre-tax and 1.7 years post-tax ▪ Highly credentialed gold project development team ▪ Significant resource growth potential Registered Office 0000 Xxx Xxxxxx Xxxx Xxxxx XX 0000 T: +00 0 0000 0000 F: +00 0 0000 0000 W: xxx.xxxxxxxxxxxxxxxx.xxx.xx
Project Finance. With the prior written agreement of the Shareholders and without the necessity of formally amending this Agreement additional or different terms may be incorporated in this Agreement, as are required by the Lender(s) to the Project.
Project Finance. 6.7 All projects will be mutually agreed upon between Global and SC and will be financed by way of “project finance” pursuant to which SC will provide the 100% required equity via a Special Purpose Vehicle (“SPV”) and will apply for loans, grants and other institutional loans on a non-recourse basis as is possible.
