Which of the following statements best describes project financing?

a)

The lender will assess the value of the assets at the time the lending agreement is signed to determine the amount of funds to advance.

b)

In addition to collateral, the lender will require covenants be met.

c)

The lender assesses the cash flow stream related to the completed project to determine the repayment terms and interest rate.

d)

The lender will provide a loan for the refinancing of an established office building owned by a company.