Maximum QP Loan Amount definition
Maximum QP Loan Amount with respect to each Qualifying Project, means the sum of the Maximum QP Principal Amount and the Maximum QP Capitalized Interest Amount for such Qualifying Project. The Maximum QP Loan Amount for each Qualifying Project shall be the lower of (a) eighty percent (80%) of the Eligible Project Costs for such Qualifying Project (including capitalized interest) and (b) a proportion of the calculated collateral value for such Qualifying Project, equal to the net present value of the pre-tax net cash flows generated by the Qualifying Project from the sale of Product net of all fixed and variable operating costs, as determined by DOE (or, in the case of the Initial Qualifying Project, on Schedule 6.44 (Initial Qualifying Project Details)).