Common use of Subsequent Fundings Clause in Contracts

Subsequent Fundings. The obligation of the Lenders to -------------------- make Loans to the Borrower with respect to any Subsequent Fundings is subject to the following conditions: (a) The satisfaction of the conditions set forth in Section 7.03. (b) The delivery to the Lenders and their approval (in their sole discretion) in writing of (i) a Subsequent Funding Request (delivered by the Borrower to the Lenders at least 30 days, but not more than 90 days, prior to the date when the first Invoice Disbursement Request relating thereto is to be delivered by the Borrower to the Lender) relating to a specific Development Project and (ii) an Invoice Disbursement Request relating to an approved Subsequent Funding Request. The Lenders' approval, if any, of any Subsequent Funding Request shall be at their sole and unfettered discretion; any such approval will require that the applicable Development Project is in accordance with the (x) Development Plan (including as to scope of work, the means and method of the work, the cost of the work, and the timing for the commencement and completion of the work), and (y) other information delivered to the Lenders in connection with the Subsequent Funding Request. No Lenders shall have any obligation to approve any Subsequent Funding Request. (c) Lenders are satisfied with Borrower's current hedging position taking into consideration any proposed Development Projects being proposed in connection with a Subsequent Funding.