PowerPMIS

Northern Virginia Campus — Demo

Data center · Loudoun County, VA · target energization 2029-06-30
Register / LEN-IA

Signed utility interconnection / service agreement before first draw

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Provenance

Source document
Construction loan agreement template — conditions precedent, draw conditions, covenants
Clause
Loan agreement, conditions precedent to first advance (utility agreements)
Trigger
Applies when a construction lender is named
Description
Lender requires the executed Dominion GS-5 agreement and construction agreement (and the capacity letter) before advancing construction funds, because the project has no value without an energization date. Collateral posting under GS-5 is usually funded from equity, not the loan.
Evidence required
Executed GS-5 and construction agreements delivered to the lender; lender acknowledgement.

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