Base Equity Contribution definition

Base Equity Contribution has the meaning given to such term in the Sponsor Support Agreement.

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Base Equity Contribution means Base Equity in an amount equal to, on any Base Equity Contribution Date, an amount sufficient that, after giving effect to the provision of such amount to the Borrower and the disbursement of Advances (if any) scheduled to be made on or before such Base Equity Contribution Date, the Debt-to-Equity Contribution Ratio is not more than 73:27.

Base Equity Contribution shall have the meaning ascribed thereto in Section 2.01(a) (Base Equity Contribution Undertaking).

Examples of Base Equity Contribution in a sentence

To the extent an Equity Contributor makes a Base Equity Contribution, such Equity Contributor’s Individual Base Equity Commitment Balance shall be reduced accordingly.
BrightSource Ivanpah irrevocably commits (i) to provide to the Borrower, directly or indirectly, 100% of the Supplemental Base Equity Amount, and (ii) to pay amounts up to the Supplemental Base Equity Commitment Balance from time to time on any Supplemental Base Equity Contribution Date.
Upon the payment by the Parent of each Base Equity Contribution, the Parent shall be deemed to have made an equity contribution to the Borrower in the amount of such portion of the Base Equity Contribution Amount.
Subject to the terms and conditions hereof, and as a condition precedent to the Initial Extension of Credit Date, the Parent hereby agrees to make equity contributions to the Borrower (each such contribution, a “Base Equity Contribution”) from time to time in an aggregate amount up to but not exceeding the Base Equity Contribution Amount.
For greater certainty, the funds received by Nalcor LP and the Partnership as a result of each Nalcor Base Equity Contribution and each Nalcor LP Base Equity Contribution pursuant to this Section shall be used by Nalcor LP and the Partnership, respectively, solely for the purposes of making the payments by way of equity contributions and deposits to the Partnership Project Funding Account required to be made pursuant to this Section.
The Required Contribution will be used to pay the Equity Rateable Share of Project Costs to be paid with the required applicable Base Equity Contribution and will therefore be deemed to be made under the Base Equity Commitment.
On the Business Day immediately prior to a Project Cost Funding Date, the Borrower shall direct the Collateral Agent pursuant to a duly delivered Withdrawal Certificate to direct the Securities Intermediary to withdraw from the Equity Account the amount specified as being the Base Equity Contribution due to be made in connection with such Project Cost Funding Date as set out in the related Notice of Project Costs and transfer such amount to the Loan Proceeds Account.
The Required Contribution will be used to pay the LTA Equity Rateable Share of LTA Project Costs to be paid with the required applicable LTA Base Equity Contribution and will therefore be deemed to be made under the LTA Base Equity Commitment.
The Administrative Agent shall have received the Contingent Equity LC and evidence that the full amount of the Base Equity Contribution Amount has been contributed to the Borrower on or prior to the date of such initial extension of credit.
On the Business Day immediately prior to a Requested Disbursement Date, the Borrower shall direct the Collateral Agent pursuant to a duly delivered Withdrawal Certificate to direct the Securities Intermediary to withdraw from the Equity Account the amount specified as being the Base Equity Contribution due to be made in connection with such Requested Disbursement Date as set out in the related Notice of Disbursement and transfer such Base Equity Contribution to the Loan Proceeds Account.

More Definitions of Base Equity Contribution

Base Equity Contribution means a transfer from the Equity Account to the Loan Proceeds Account for the purpose of paying Planned Project Costs.

Base Equity Contribution has the meaning assigned to such term in the Equity Contribution Agreement.

Base Equity Contribution means the amounts invested from time to time by Nalcor in the Partnership, directly or through one or more of its Subsidiaries, under the Base Equity Commitment together with the amounts paid from time to time to the Collateral Agent for deposit or deposited directly, as the case may be, in the Partnership Project Funding Account by NL Crown pursuant to the provisions of the NL Crown Guarantee in connection with the Base Equity Commitment;

Base Equity Contribution means an Equity Contribution made or required to be made (as the context requires) pursuant to Clause 2.2 (Core Base Equity Commitment), Clause 2.3 (Top-Up Base Equity Commitment), Clause 2.4 (Required Base Equity Contributions) or (to the extent payable in respect of the Unutilised Base Equity Commitment at any time) Clause 4.1 (Right to accelerate).

Base Equity Contribution shall have the meaning ascribed thereto in Section 2.01(a)(i). “Base Equity Contribution Amount” shall mean $147,462,255. “Borrower” shall have the meaning ascribed thereto in the preamble. “Collateral Agent” shall have the meaning ascribed thereto in the preamble. “Collateral Agent Contribution Request” shall have the meaning ascribed thereto in Section 2.01(a)(v). “Collateral Agent Negative Credit Event Drawing Date” shall have the meaning ascribed thereto in Section 2.01(d)(iv). “Construction Contribution Date” shall have the meaning ascribed thereto in Section 2.01(a)(iv). “Construction Contribution Funding Amount” shall have the meaning ascribed thereto in Section 2.01(a)(iv). “Contingent Equity Contribution” shall have the meaning ascribed thereto in Section 2.01(a)(iii). “Contingent Equity Contribution Amount” shall mean $44,216,235. “Contingent Equity LC” shall mean an Acceptable Letter of Credit issued by an Acceptable Issuing Bank in favor of the Collateral Agent (for the benefit of the Secured Parties), substantially in the form Exhibit B hereof or in such other form as may be reasonably acceptable to the Administrative Agent. “Credit Agreement” shall have the meaning ascribed thereto in the recitals. “Equity Contribution Request” shall mean a written request in the form attached as Exhibit A hereto. “Funding Amount” shall mean (i) on any Construction Contribution Date, the Construction Contribution Funding Amount to be funded on such date and (ii) on the Accelerated Contribution Date, the Accelerated Contribution Amount on such date, as the case may be. Equity Contribution Agreement