Project Model. The provisions of Schedule 5.3 (The Project Model) shall apply in respect of the operation and maintenance of the Project Model.
Project Model. The Project Model will be supplied on software media that contains the PEP-based input data for ICARUS 2000 and ICARUS Process Evaluator (IPE) for a specific process that will enable the customer who is a user of ICARUS 2000 and/or ICARUS Process Evaluator (IPE) to prepare certain project information (cost estimate, schedule of engineering and construction) for the particular process. There may also be a Project Model offering that includes a license of ICARUS 2000.
Project Model. The Project has prepared a Project Model for analysis of the Project. The Project Model is calculated before the effects of project financing and tax, using the following assumptions: •Base Discount Rate (nominal) 9.0 % •Long- Term General Inflation CPI 2.5 % •Long-Term Metal Price Assumption (Nominal Terms - 2013) 2,248 •Alumina Price Assumption (% LME) 13.5 % •Credit Terms - Receivables (days) 30 •Payment Terms - Payables (days) 60 •Days of Inventory (days of cash cost) 15 Operating cash costs are calculated for the first year of full production as: •Mine and Refinery (USD/tonne) 146 •Smelter (USD/tonne) 1,244 •Rolling Mill (USD/tonne excluding metal) 257 The results of the financial modeling are summarized below: Capex (US$ millions) IRR (%) NPV (US$ millions) Smelter and Infrastructure(1) 4,706 14.0 % 3,450 Rolling Mill 2,145 8.8 % (61 ) Phase 1 Total 6,851 12.2 % 3,389 Mine and Refinery 3,146 10.0 % 384 Integrated Aluminium Project 9,997 11.6 % 3,773 Notes:
Project Model. (A) The Facility Agents, the Technical and Modelling Bank and Kosmos may each make proposals with regard to amendments to the Project Model which it believes in good faith are required for the purpose of:
Project Model. The Guarantor shall have received a financial model from the Sponsor, substantially in the form of Exhibit H hereto, produced in good faith and consistent with the financial model used by the Rating Agency in connection with the rating of the Guaranteed Loans showing for each planned Guarantee, in an unstressed base case: (i) that no claims on any Guarantee Issuance Agreement shall be needed assuming a loss multiple of not less than 1.8, (ii) full repayment of the each Guaranteed Loan two years prior to the maturity date of the Solar Loan with the latest maturity which is part of the Collateral or, if there is no Anticipated Repayment Date, one and a half years prior to the legal final maturity of the relevant ABS Notes and (iii) such model reflects (x) an Equipment Replacement Reserve Deposit no less than the Minimum Equipment Replacement Reserve Deposit and (y) an Equipment Replacement Reserve Required Balance no less than the Minimum Equipment Replacement Reserve Required Balance (“Project Model”). [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause harm to the company if publicly disclosed.
Project Model. The Project Model, to the Knowledge of the Company, is based upon reasonable assumptions in light of the conditions existing at the time of delivery.
Project Model. The project model dated February 11, 2013, furnished by the Seller and the Company to Buyer relating to the Business was made in good faith and represents a true, correct, and complete copy of the latest economic model for the Company and the Business.
