Project Debt definition

Project Debt means Indebtedness of one or more Project Subsidiaries incurred for the purpose of holding, constructing or acquiring power generation facilities or related or ancillary assets or properties; provided that the Company is not liable with respect to such Indebtedness except to the extent of a non-recourse pledge of equity interests in one or more Project Subsidiaries.

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Project Debt means any Financial Indebtedness incurred by a Project Company in relation to any assets or projects solely for the purposes of financing the whole or any part of the acquisition, creation, construction or development of such assets or projects, to the extent that the financial institutions to which such Financial Indebtedness is owed have recourse solely to the assets or to the shares of that Project Company or its affiliated company, which is also a Project Company (for the avoidance of doubt, such Project Debt may be secured by a Permitted Security).

Project Debt means Indebtedness of one or more Project Subsidiaries incurred for the purpose of holding, leasing, developing, constructing or acquiring energy generating, transmission or distribution assets, or assets related thereto, or any other power or energy facility or any assets related thereto; provided that the Company is not liable with respect to such Indebtedness except to the extent of a non-recourse pledge of equity interests in one or more Project Subsidiaries.

Examples of Project Debt in a sentence

• The Project Debt Interest Cost will be adjusted once on, or within the 2 Business Days immediately prior to, Financial Close on the basis of the actual increase or decrease in the Project Debt Interest Cost resulting directly from any change upward or downward in the Interest Reference Rate as compared to the Interest Reference Rate as at the RFP Submission Deadline.

• For the avoidance of doubt, the foregoing does not affect TxDOT’s liability to Developer for Termination Compensation that is measured in whole or in part by outstanding Project Debt or the obligations of the PABs Issuer under any Funding Agreement.

• For the avoidance of doubt, the foregoing does not affect TxDOT’s liability to Developer under Article 19 and Exhibit 23 for Termination Compensation that is measured in whole or in part by outstanding Project Debt.

• Except for a violation by TxDOT of its express obligations to Lenders set forth in Article 20 and except as set forth in Section 3.7.2, no Lender is entitled to seek any damages or other amounts from TxDOT, whether for Project Debt or any other amount.

• Project Co represents and warrants that the Project Debt Interest Cost as set out in the RFP Submission is based upon the Interest Reference Rate.

More Definitions of Project Debt

Project Debt means the obligations of Seller to any lender pursuant to the Financing Documents, including principal, premium and interest on indebtedness, fees, expenses or penalties, amounts due upon acceleration, prepayment or restructuring, swap or interest rate hedging breakage costs and any claims or interest due with respect to any of the foregoing.

Project Debt means any Indebtedness owed to a Person unrelated to Parent or any of its Subsidiaries or Affiliates with respect to which neither Parent, the Issuer nor any Subsidiary Guarantor (a) is, or has any obligation (contingent or otherwise) to become, an obligor under any agreements or contracts evidencing such Indebtedness (other than pursuant to Permitted Project Undertakings or Permitted Equity Commitments) or (b) has granted a Lien on any of its assets as security (or has any obligation, contingent or otherwise, to do so).

Project Debt means, in respect of any GLC Venture (the “obligor”), any Indebtedness of such obligor incurred in the Ordinary Course of Business of such obligor and of the Company and its Subsidiaries, which may be secured by a Lien on assets of such obligor, but as to which there is no general recourse to any Loan Party except against such obligor (a) for breach of customary representations and warranties, or (b) to the extent such obligor is a limited liability company, corporation, limited partnership or other entity as to which no Loan Party (other than obligor) is, directly or indirectly (at law, through any Guarantee Obligation or otherwise), liable to pay the debts of such obligor.

Project Debt means any indebtedness in respect of borrowed moneys incurred by a member of the Group for the purposes of a Project Financing where the recourse of the provider of that indebtedness is limited to:

Project Debt means, at any time, any indebtedness of any subsidiary incurred under any loan guarantee obligation entered into in respect of any loan, credit or similar financial facility granted to it in connection with the financing of any assets to be acquired by such subsidiary after the date of these Bond Terms and where the terms pursuant to which such financial facility has been granted to stipulate the payment of the indebtedness of such Subsidiary arising there under (including, without limitation, any indebtedness arising as a result of a breach thereof) is to be made from the revenues arising out of the assets acquired with recourse to such revenues and/or assets, but without any recourse whatsoever to any other assets or revenues of such subsidiary or any other member of the Group.

Project Debt means the principal amount issued under and secured by the Lending Agreements.

Project Debt means the aggregate of: