PROJECT FUNDING FOR PRIVATE OR GOVERNMENT PROJECT
If this option is chosen, the Applicant should place his agreed Cash Funds into a Special Purpose Vehicle (SPV) account (Must be a top 25 Rated Bank) in the Clients name with a director from G Wave Energy named as a Non-Authorized (Nominee) Signatory.
- ONLY the client can touch the funds.
- Applicant’s banker will confirm this fact.
- Funds will be blocked internally for the period of the build.
- This is based on a minimum amount of 50 million
Upon completion of the build, cash Blocked funds will be returned unencumbered.
There are NO repayments of the Loan and this is a NON-RECOURSE LOAN.
Comments
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