Financial Closure means the execution of all the Financing Agreements required for the Power Project and fulfillment of conditions precedents and waiver, if any, of any of the conditions precedent for the initial draw down of funds there under.
Financial Closure means the signing of the Financing Documents for financing of the Project and fulfillment of all the conditions precedent to the initial availability of funds thereunder and the receipt of commitments for such equity as required by the Company in order to satisfy the requirements of the lenders, provided however that the Company has immediate access to funds (subject to giving the required drawdown notices) regarded as adequate by the Company and in any case shall be achieved within 6 (Six) months from the date of signing of this Agreement.
Examples of Financial Closure in a sentence
Financial Closure has been achieved on June 5, 2012; however, the Appointed Date has not been reached, pending clearance from the Forest Department, which is likely by end of September 2012.
The Concession Agreement has been executed on August 1, 2011 and the Financial Closure has been achieved on March 17, 2012.
The projects have since been awarded and the Financial Closure achieved.
Financial Closure has been achieved on June 13, 2012; however, Appointed Date has not been reached, pending clearance from Forest Department for around 3 km of the project’s stretch, which is likely to be obtained by end of December 2012.
More Definitions of Financial Closure
Financial Closure means the date on which the Financing Documents with respect to the Financing Package for the Project have been executed and become effective and the Concessionaire has fulfilled all the conditions needed for draw down of Financing and the Concessionaire has immediate access to such Financing and which shall in any case not be later than 180 days from the Appointed Date as applicable hereof..
Financial Closure means arrangement of necessary funds by the Solar Power Developer either by way of commitment of funds by the Company from its internal resources and/or tie up of funds through a bank / financial institution by way of sanction of a loan;
Financial Closure means the first Business Day on which funds are made available to the TSP pursuant to the Financing Agreements;
Financial Closure means the date on which the Financing Documents providing for Financial Assistance by the Lenders have become effective and the Authorisee has access to such Financial Assistance;
Financial Closure means the date on which the Financing Documents providing for funding by the Lenders have become effective and the Concessionaire has immediate access to such funding under the Financing Documents.
Financial Closure means arrangement of necessary funds by the Power Producer either by way of commitment of funds by the Company from its internal resources and / or tie up of funds through a bank / financial institution by way of sanction of a loan or letter agreeing to finance. At this stage, Power Producer shall ensure submission of documents / certificates evidencing the tie up of project cost through internal resources and /or through external Financing Agency.
Financial Closure means arrangements of necessary funds by the Project Developer either by way of commitments of funds by the company from its internal resources and / or tie up of funds through a bank / financial institution by way of sanction of a loan and fulfilling all requirements mentioned in clause 3.27 of RfS.