Examples of Financial Closing in a sentence
Except for the Letter of Award, which until Financial Closing, will govern the Project and supersede all documents and agreements between the Parties in relation to the Project, all written or oral representations, understandings, offers or other communications of every kind between the Parties in relation to the Project prior to this Agreement are hereby abrogated and withdrawn.
The Operator shall provide LTC with a copy of the Financing Documents executed on the date of Financial Closing no later than seven (7) Days after Financial Closing.
If Financial Closing does not occur in accordance with the requirements of the Letter of Award, upon the termination of the Letter of Award this Agreement shall terminate in its entirety without notice and without further action by LTC.
Except for the provisions of this sub-Article 2.1, Article 9 [Assignment and Security] and Article 22 [Miscellaneous Provisions], which shall become effective immediately upon execution and delivery of this Agreement, this Agreement shall commence and be effective on the date of Financial Closing (the “Effective Date”) and shall, unless terminated earlier in accordance with the terms of the Letter of Award or this Agreement, continue in full force and effect until the Expiry Date (the “Term”).
The Parties have agreed that the amount of the Performance Bank Guarantee is reasonable and constitutes liquidated damages to LTC of the Operator’s failure to timely achieve Financial Closing hereunder and under the Letter of Award.