Project Financial Close definition

Project Financial Close means that the following conditions have been satisfied in full:
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Project Financial Close means: (i) confirmation from the Recipient that it has finalised the necessary arrangements to proceed to the construction phase of the Project following FEED; and (ii) satisfaction of the Conditions Precedent listed under item Schedule 11.8 of Schedule 1 (The Project);
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Examples of Project Financial Close in a sentence

  • Project Financial Close Date the date when notice to proceed (or similar) is issued by WWPL to a contractor for the ‘construction’ of the Project in accordance with the conditions of the Project Consent.

  • On the NEXT Project Financial Close Date, the Concessionaire will deposit $5,000,000 with the Department for such Right of Way payments and costs (the “NEXT ROW Deposit”).

  • The Recipient must use all reasonable endeavours to achieve Project Financial Close promptly and, in any event, on or before the CP Satisfaction Date.

  • Project Financial Close has occurred or shall occur simultaneously with the effectiveness of the Acceptable Transmission Services Agreement.

  • The Recipient must develop a Risk Management Plan for the Project which meets the requirements of paragraph 5.1(c) below to be provided to ARENA prior to Project Financial Close.

  • If the CP Satisfaction Date is extended under this clause 6.7, the parties will vary item 11 of Schedule 3 (Agreement details) in accordance with clause 32.5. ARENA may make a demand under the Bid Bonds for the full amount able to be demanded (including any Additional Bid Bonds) if Project Financial Close is not achieved by the CP Satisfaction Date (as extended in accordance with this clause 6.7).

  • Subject to the terms of any lease or similar arrangement and of any Project Document, the Recipient must own the Assets on and from Project Financial Close.

  • On or before Project Financial Close, the Recipient must provide to ARENA certification from an independent, responsible and qualified person selected and engaged by the Recipient that the Community Consultation Plan is, in the reasonable opinion of that person, appropriate and consistent with good industry practice for a project of this nature and the types of community consultation to be undertaken, and that, based on reasonable enquiries, it appears it is being implemented.

  • On and from Project Financial Close, subject to clause 4.3(b), the Recipient may vary the Budget as it sees fit provided that any such variation is described in detail in the Project Review Report for that month.

  • The Recipient must provide a report to ARENA (in email format) on the progressive satisfaction and status of the Initial Withdrawal Conditions Precedent on the first day of each month from ARENA Financial Close until Project Financial Close.

Related to Project 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;

  • Final Closing Working Capital has the meaning set forth in Section 2.4(e).