PPA Financial Close definition

PPA Financial Close has the meaning assigned to the term “Cierre Financiero” in the PPA; “PPA Performance Bond” the “Garantía de Cumplimiento de Contrato” dated May 12, 2017, delivered by the Borrower in connection with the PPA, and any further extension thereof pursuant to Section 13.1 of the PPA;
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Examples of PPA Financial Close in a sentence

  • The Senior Lenders have received evidence that the Offtaker has acknowledged, in accordance with the terms of the PPA, that the PPA Financial Close has occurred.

Related to PPA Financial Close

  • Financial Close means the Capacity Market Seller has demonstrated that the Capacity Market Seller or its agent has completed the act of executing the material contracts and/or other documents necessary to (1) authorize construction of the project and (2) establish the necessary funding for the project under the control of an independent third-party entity. A sworn, notarized certification of an independent engineer certifying to such facts, and that the engineer has personal knowledge of, or has engaged in a diligent inquiry to determine, such facts, shall be sufficient to make such demonstration. For resources that do not have external financing, Financial Close shall mean the project has full funding available, and that the project has been duly authorized to proceed with full construction of the material portions of the project by the appropriate governing body of the company funding such project. A sworn, notarized certification by an officer of such company certifying to such facts, and that the officer has personal knowledge of, or has engaged in a diligent inquiry to determine, such facts, shall be sufficient to make such demonstration.

  • Financial Closing means the execution of the Financing Documents by all the parties thereto, and the fulfillment of all conditions precedent thereunder necessary to permit the advance of funds to pay amounts due under this Agreement.

  • Financial Closing Date means the date of signing of the initial agreements for any Financing of the Facility.

  • Financial Closure means the first Business Day on which funds are made available to the TSP pursuant to the Financing Agreements;

  • Qualified Financial Contract means a qualified financial contract as defined in 12 U.S.C. Section 1821(e)(8)(D).