Non-recourse Project Financing means any Indebtedness incurred in connection with the financing of all or part of the costs of the acquisition, construction or development of any project, provided that: (i) any Security Interest given by the Bank or the relevant Subsidiary is limited solely to assets of the project; (ii) the Person or Persons providing such financing expressly agrees to limit their recourse to the project financed and the revenues derived from such project as the principal source of repayment for the moneys advanced; and (iii) there is no other recourse to the Bank or the relevant Subsidiary in respect of any default by any Person under the financing; and
Non-recourse Project Financing means any financing of all or part of the costs of the acquisition, construction or development of any project, provided that:
Non-recourse Project Financing means any financing of all or part of the costs of the acquisition, construction, development, improvement, repair or expansion of any project (including costs such as escalation, interest during construction and financing and refinancing costs), provided that (i) any Security Interest given by the Issuer is limited solely to assets of the project, (ii) the person providing such financing expressly agrees to limit its recourse to the project financed and the revenues derived from such project as the principal source of repayment for the moneys advanced and (iii) there is no other recourse to the Issuer in respect of any default by any person under the financing;
Examples of Non-recourse Project Financing in a sentence
Each such Officer’s Compliance Certificate shall include, without limitation, the aggregate amount of Non-Recourse Project Financing Indebtedness outstanding as of the last day of the relevant Fiscal Quarter or Fiscal Year, as the case may be, and the aggregate amount of Non-Recourse Debt Service paid by the Borrower and its Restricted Subsidiaries during the four (4) Fiscal Quarters immediately preceding such day.
In addition, (A) expenditures made for any acquisition permitted under Section 11.3(a), (B) expenditures made with the proceeds of Non-Recourse Project Financing Indebtedness and (C) expenditures not exceeding Six Million Dollars ($6,000,000) in aggregate made in connection with the development and implementation of the Borrower’s information technology project that is currently expected to be completed in 2007, shall not be included in the calculation of Capital Expenditures.
In addition, (A) expenditures made for any acquisition permitted under Section 11.3(a), (B) expenditures made with the proceeds of Non-Recourse Project Financing Indebtedness and (C) expenditures not exceeding Six Million Dollars ($6,000,000) in aggregate made in connection with the development and implementation of the Borrower’s information technology project that is currently expected to be completed in 2008, shall not be included in the calculation of Capital Expenditures.
More Definitions of Non-recourse Project Financing
Non-recourse Project Financing means any financing of all or part of the costs of the acquisition, construction or development of any project, provided that: (i) any Security Interest given by the Guarantor or any of its Subsidiaries in connection therewith is limited solely to the assets of the project; (ii) the persons providing such financing expressly agree to limit their recourse to the project financed and the revenues derived from such project as the sole source of repayment for the moneys advanced; and (iii) there is no other recourse to the Guarantor or any of its Subsidiaries in respect of any default by any person under the financing;
Non-recourse Project Financing means any indebtedness incurred solely to finance a project or the restructuring or expansion of an existing project, in each case for the acquisition, construction, development or exploitation of any assets pursuant to which the Person or Persons to whom such indebtedness is or may be owned by the relevant borrower (i) expressly agrees or agree that the principal source of repayment of such funds will be the assets of, or the project and revenues generated by, such project (or by such restructuring or expansion thereof); and (ii) has or have no other recourse whatsoever to any member of the Group (or its assets and/or revenues) for the repayment of or a payment of such indebtedness;
Non-recourse Project Financing. ’ means any financing of all or part of the costs of the acquisition, construction or development of any project, provided that: (a) any Security Interest given by DIFCI or the relevant Subsidiary, as the case may be, in connection therewith is limited solely to assets of the project; (b) the person providing such financing expressly agrees to limit its recourse to the project financed and the revenues derived from such project as the sole source of repayment for the moneys advanced; and (c) there is no other recourse to DIFCI or the relevant Subsidiary, as the case may be, or any other Subsidiary of DIFCI, in respect of any default by any person under the financing (including, without limitation, by way of any credit support, security or other similar commitment from DIFCI or the relevant Subsidiary);
Non-recourse Project Financing means any financing of all or part of the costs of the acquisition, construction or development of any project, provided that (i) any Security Interest given by the Issuer, the Guarantor, or the relevant Material Subsidiary of the Issuer or the Guarantor is limited solely to assets of the project, (ii) the Person or Persons providing such financing expressly agrees to limit their recourse to the project financed and the revenues derived from such project as the principal source of repayment for the moneys advanced and
Non-recourse Project Financing means any present or future indebtedness incurred to finance the ownership, acquisition, construction, creation, development, maintenance and/or operation of an asset (whether or not an asset of the Issuer or the Guarantor (as the case may be) or any of its Subsidiaries), or any associated rehabilitation works, in respect of which the person or persons to whom any such indebtedness is or may be owed by the relevant borrower (whether or not the Issuer or the Guarantor (as the case may be) or any of its Subsidiaries) has or have no recourse whatsoever to the Issuer or the Guarantor (as the case may be) or any of its Subsidiaries for the repayment thereof other than:
Non-recourse Project Financing means, with respect to any Subsidiary of the Guarantor, any Indebtedness for borrowed money under an agreement entered into by such Subsidiary on a non-recourse project finance basis that (a) is incurred by such Subsidiary as obligor under the Indebtedness, (b) has no recourse to the Guarantor or any other Subsidiary of the Guarantor (other than such Subsidiary incurring such Indebtedness for borrowed money) and (c) is for the purpose of financing the development, construction, commissioning or operation of a Developed Project.
Non-recourse Project Financing means financing arrangements that provide a lender or investor with recourse, if any, only against assets and capital stock of JV and/or the Project Company.