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.
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