Ramp-up Phase definition

Ramp-up Phase means, with respect to any Project or Permitted Minority Investment Project, the twelve (12) month period commencing on the later of (i) the month in which such Project or Permitted Minority Investment Project has reached commercial operation and (ii) the month in which the initial distribution of Cash is made by the relevant Restricted Operating Company Subsidiary or Permitted Minority Investment Company to a Credit Party following commercial operation.
Ramp-up Phase means, with respect to any Project, the twelve (12) month period commencing on the later of (i) the month in which such Project has reached commercial operation and (ii) the month in which the initial distribution of Cash is made by the relevant Restricted Operating Company Subsidiary to a Credit Party following commercial operation.
Ramp-up Phase means the period from the Nesaea Issue Date to the Principal Crystalisation Date, being 22 March 2006. Each Senior VFN bears interest on its Principal Amount Outstanding whereas the Junior VFN bears interest in an amount equal to that set forth under Condition 5.3, from (and including) the Nesaea Issue Date, payable in arrears on the 20th day or if such day is not a Business Day the immediately preceding day that is a Business Day of the months of April, July, October and January (each a “Nesaea Payment Date”) in respect of the Nesaea Interest Period ending immediately prior thereto. The first Nesaea Payment Date was 20 May, 2005 (the “First Nesaea Payment Date”). The period from and including the Nesaea Issue Date to but excluding the First Nesaea Payment Date is referred to herein as the “Nesaea Initial Interest Period” and each successive period from and Rate of Interest of the Senior VFNincluding a Nesaea Payment Date to but excluding the next succeeding Nesaea Payment Date is referred to as a “Nesaea Interest Period”.Interest under the Senior VFN in respect of the Nesaea Initial Interest Period and any Nesaea Interest Period will be calculated on the basis of the actual number of days elapsed and a 360 day year.Nesaea Finance will not be obliged to gross-up or otherwise compensate the VFN Noteholders which are the subject of any Decree 239 Deduction for the lesser amounts the VFN Noteholders will receive as a result of the imposition of such Decree 239 Deduction or otherwise compensate the VFN Noteholders for any other deduction or withholding imposed by law.Interest under the VFN shall cease to accrue on each of the VFN immediately after the Nesaea Legal Maturity Date unless payment of principal due and payable but unpaid is improperly withheld or refused, whereupon interest shall continue to accrue on such principal (as well after as before judgement) at the rate from time to time applicable to the VFN until the monies in respect thereof have been received by the relevant VFN Noteholders or, as the case may be, by the Representative of the VFN Noteholders on behalf of the relevant Senior VFN Noteholders.The rate of interest payable from time to time in respect of the Senior VFN (the “Rate of Interest of the Senior VFN”) will be determined by the Nesaea Calculation Agent two Business Days prior to the first day of the relevant Interest Period (being, for the avoidance of doubt, the Interest Period applicable to the Notes) (each a “Senior VFN Interest...

Examples of Ramp-up Phase in a sentence

For purposes of determining Available Cash solely for the calculation of the ratios set forth in this Section 6.6, distributions of Available Cash (other than Qualifying Cash) in respect of such Project or business made during the Ramp-up Phase of such Project or business shall be annualized by the amount of any such distributions multiplied by a fraction, the numerator of which is twelve (12) and the denominator of which is the number of months from and including the beginning of such Ramp-up Phase.

Nesaea Principal Available Funds transferred from the Nesaea Transaction Account; (ii) on the Nesaea Issue Date, proceeds arising from the issue of the VFN; and (iii) during the Ramp-up Phase, any additional funding made from time to time under the VFN at the option of the VFN Noteholders pursuant to the VFN Subscription Agreement.

During the Ramp-up Phase, the VFN Noteholders provided VFN Additional Funding under the VFN up to Euro 220,489,321.

During the Revolving Period but after the end of the Ramp-up Phase, Nesaea Finance purchased any Subsequent Portfolio by using exclusively the Nesaea Principal Available Funds.

HBP Ramp-up Phase Description of Work (Grant Agreement: 604102 HBP).2.


More Definitions of Ramp-up Phase

Ramp-up Phase means, with respect to any Project or Permitted Minority Investment Project, the twelve (12) month period commencing on the