Longstop Date definition
Examples of Longstop Date in a sentence
The Total Funding Plan for each Project will be sufficient to pay all remaining Project Costs for such Project and to achieve the Project Completion Date for such Project by no later than the final Milestone Completion Longstop Date for such Project.
The Investor has such knowledge and experience in financial and business matters that the Investor is capable of evaluating the merits and risks of such investment, is able to incur a complete loss of such investment without impairing the Investor’s financial condition and is able to bear the economic risk of such investment for the period until the Longstop Date.
The Department shall have received a certificate of a Financial Officer of the Borrower certifying that the Borrower’s Total Funding Plan is sufficient to pay all remaining Project Costs, as set forth in the Sources and Uses Plan, for each Project and for each Project to achieve the Project Completion Date for such Project by no later than the final Milestone Completion Longstop Date for such Project, together with any such other evidence as the Department may request in connection with the same.
In the event the Conditions are not satisfied (or waived to the extent permitted by Law) by the Postponed Longstop Date, this Agreement shall automatically terminate on the Postponed Longstop Date.
The Department shall have received a certificate of a Financial Officer of the Borrower certifying that the Borrower’s Total Funding Plan is sufficient to pay all remaining Project Costs for all Projects and to achieve, for each Project, the Project Completion Requirements by no later than the Project Completion Longstop Date for the applicable Project, together with any such other evidence as the Department may request in connection with the same.