Variable Financing Sample Clauses

Variable Financing. Variable Financing shall be used only during the Construction Phase, except as otherwise provided herein. If City agrees that Variable Financing should be undertaken, District shall issue Variable Financing for the duration of the Construction Phase. No later than 60 days after the Commercial Operation Date, the Variable Financing shall be replaced entirely by Fixed Financing unless the Parties unanimously agree to the contrary. It is understood that Variable Financing may require the use of a letter of credit and, if that is the case, the cost of the letter of credit shall be financed out of the Variable Financing.