Option requires a 10 % Shareholding of the Project Holding Company in favour of G Wave Energy but released after the loan is paid back. If this option is chosen, the Applicant should issue Cash/Bank Instrument/Sovereign Bank Guarantee in favour of our subsidiary for the amount agreed upon. This is based on 10% to 50% of the build costs. This will be considered as a Holding Deposit for the period of the build. Upon completion of the build, cash funds or Bank Instruments as provided are returned unencumbered. The loan is to be repaid but repayments will not start until 5 years after the Project is completed. The repayment period is over 10 years with NO interest due. After the loan is repaid in full, the 10% shareholding will be redeemed _____________________________________________________________________________ we will require a S chedule drawdown to be completed. Project funding will start within 45-60 days from funds being blocked. Payments wil...
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