PROJECT MODEL Clause Samples
The Project Model clause defines the overall framework and structure for how a project will be organized and executed. It typically outlines the roles and responsibilities of the parties involved, the phases or stages of the project, and the key deliverables or milestones to be achieved. For example, it may specify whether the project will follow a design-build, design-bid-build, or another project delivery method. The core practical function of this clause is to establish a clear and agreed-upon approach to managing the project, thereby reducing misunderstandings and ensuring all parties are aligned on expectations and processes.
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, 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 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 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”).
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: Smelter and Infrastructure(1) 4,706 14.0 % 3,450 Rolling Mill 2,145 8.8 % (61 ) Notes:
(1) Includes Casthouse $400M and Infrastructure $460M (2) Based on AP37 technology, AP39 in 2020
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.
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:
(i) correcting any manifest error in the form or structure of the Project Model; or
(ii) incorporating any additional assumptions required to determine the matters referred to in clause 19.1 (Forecast Procedures).
(B) If the Facility Agents, Technical and Modelling Bank and Kosmos are unable to agree on the required changes to the Project Model within 15 Business Days from the date on which such changes were proposed, then the matter shall, on the request of Kosmos or the Technical and Modelling Bank, or on the initiation of either of the Facility Agents, be referred for resolution to an appropriate expert appointed by the Facility Agents (being a person having appropriate expertise with respect to, but no interest in, the outcome of the matter referred to it).
(C) The costs of any references to an expert and the costs, if any, incurred in giving effect to any agreed revision to the Project Model will be borne by Kosmos except, in the case of the costs of any reference to an expert only, if the expert determines that any proposal by the Technical and Modelling Bank or either Facility Agent in respect of the changes to the Project Model which are in dispute could not be regarded as reasonable and are rejected by such expert, in which case such costs shall be borne by the Lenders.
(D) Any amendments to the Project Model will not be made until such time as such amendment has been agreed or determined (as appropriate) pursuant to paragraphs (A) and (B) above. Prior to such amendment being incorporated into the Project Model, the Project Model will continue to be utilised without such amendment.
(E) Where the manner of determining any of the calculations required for a Forecast is amended as a consequence of any amendments made to the Project Model, the Finance Documents shall be deemed to be amended to reflect any such amendment.