Common use of Financing of Lump Sum Payment Amounts Clause in Contracts

Financing of Lump Sum Payment Amounts. If BC Hydro is obligated to compensate, reimburse or otherwise pay Project Co and exercises its discretion to do so by a lump sum payment in accordance with Section 11.1 of this Agreement, at BC Hydro’s request Project Co will use all reasonable efforts to obtain the financing required to make such payment on the best terms reasonably available and, to the extent that Project Co is able to obtain such financing, there will be a corresponding increase made to the Service Payments in accordance with Section 11.3 of this Agreement. BC Hydro will: (a) promptly pay to Project Co an amount equal to the reasonable out-of-pocket expenses incurred by Project Co in seeking such financing provided that BC Hydro approved such expenses prior to Project Co incurring them; and (b) provide concurrent interim financing of any expenditures and costs to be incurred by Project Co until the earlier of the date on which such financing is obtained or payment is made pursuant to Section 11.1 of this Agreement. BC Hydro acknowledges that the Corporate Financing Lenders have no obligation to provide the financing referred to in this Section 11.2.

Financing of Lump Sum Payment Amounts. If by the terms of this Agreement BC Hydro is obligated to compensate, reimburse or otherwise pay Project Co and exercises its discretion to do so by in a lump sum payment in accordance with Section 11.1 of this Agreementpayment, at BC Hydro’s request Project Co will use all reasonable efforts to obtain the financing required to make fund such payment amount on the best terms reasonably available and, to the extent that Project Co is able to obtain such financing, there will be a corresponding increase made to the Service Availability Payments in accordance with Section 11.3 of this Agreement10.3 [Adjustments to Availability Payments]. BC Hydro will: (a) promptly pay to Project Co an amount equal to the reasonable out-of-pocket expenses incurred by Project Co in seeking such financing provided that BC Hydro approved such expenses prior to Project Co incurring them; and (b) provide concurrent interim financing of any expenditures and costs to be incurred by Project Co until the earlier of the date on which such financing is obtained or payment is made pursuant to Section 11.1 of this Agreement10.1 [Lump Sum Payments]. BC Hydro acknowledges that the Corporate Financing Lenders Senior Creditors have no obligation to provide the financing referred to in this Section 11.210.2 [Financing of Lump Sum Payment Amounts] or to subordinate or share their security.