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A summary listing of Performance Completion Tests is given below
- Completion Guarantee - Date Certain
- Trigger to Linear Amortisation
- Completion Undertaking - Performance
- Accrued Force Majeure (to 1 year?)
- Unlimited Force Majeure
- Ordinary & Extra-ordinary Force Majeure
- Operating Cost Test
- Economic Test (Partial Abandonment)
- NPV Tests
- Loan Life Ratio
- Reserve Life Ratio
- Sales Life Ratio
- Warranty Life Ratio
- Financial Test
- Multi-Component Tests
- Buydown Tests
- "$ to Complete?" Tests - monthly
- Physical and Sales Completion
- Top-up Completion
- via interest-bearing Subordinated Debt
- pari passu
- with later maturities
- after distributions test
- via standby Overrun tranche
- separate margin, fees
- additional covenants
- accelerated access to Project Cashflow
- Clawback
- Escrow Release
- Cap on Interest Capitalisation/Capex Item
- Equity Subscription
- Progressive Ratios
- Informal
- Default - 90 days
- Leap-frogging Tranches
- Standby with Cashflow Test
- Higher Spread
- Price-linked (gold,oil)
- Defined Amount
- Release Clawback
- Delay-in-Startup Insurance
- Force Majeure
- LDs/Delay Penalty
- Contingent Contractual Liability
- Unconventional
- Turnkey Contract
- Liquidated Damages
- Delay
- Underperformance
- Warranty Pass-through
If you'd like to add to this list of Completion
Tests, please email the test summary to iaf@compuserve.com
If concordant with this format, it will be given
full attribution as to the source and date. |
