Construction Financing Cost definition

Construction Financing Cost means all reasonable costs and expenses to Northwind, including, without limitation, interest, any arrangement fees and closing fees and all reasonable costs and expenses of counsel for Northwind and of counsel for the lenders providing such financing, of negotiating, documenting and closing of financing the construction of the Plant; provided, however, that to the extent that funds for the construction of the Plant are provided by Northwind and not borrowed from third parties, for purposes of determining Construction Financing Cost hereunder it shall be assumed that (a) the portion of such funds which are provided by Northwind not in excess of forty (40) percent of the aggregate of all funds borrowed or provided by Northwind to fund construction of the Plant bear interest at twenty (20) percent per annum, (b) the portion of such funds which are provided by Northwind in excess of forty (40) percent of the aggregate of all funds borrowed or provided by Northwind to fund construction of the Plant bear interest at a rate equal to prime rate as published in the "Money Rates" section of the WALL STREET JOURNAL from time to time and (c) a closing fee in respect of the portion of such funds provided by Northwind referred to in clause (b) preceding equal to one and one-quarter (
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Related to Construction Financing Cost

  • Project financing gap means the part of the total project cost,

  • Financing Costs means for each calendar day the product of:

  • Construction project means the same as that term is defined in Section 38-1a-102.

  • Construction Debt means debt incurred to fund (a) all or a portion of a Capital Improvement, (b) interest payments (including periodic net payments under related interest rate swap agreements) and related fees on other Construction Debt or (c) distributions (including incremental Incentive Distributions) on Construction Equity.

  • Project Financing means: (a) one or more loans, leases, equity and/or debt financings, together with all modifications, renewals, supplements, substitutions and replacements thereof, the proceeds of which are used to finance or refinance the costs of the Customer Facility, any alteration, expansion or improvement to the Customer Facility, the purchase and sale of the Customer Facility or the operation of the Customer Facility; (b) a power purchase agreement pursuant to which Interconnection Customer’s obligations are secured by a mortgage or other lien on the Customer Facility; or (c) loans and/or debt issues secured by the Customer Facility.