Permanent Cessation of Operations. As of the Contract Date, the Nuclear Group consists of the Facility and the Xxxxx Facility. If, during the Contract Term, a Permanent Cessation of Operations occurs with respect to (a) the XxxxXxxxxxx Facility or (b) the Xxxxx Facility, then, NYSERDA shall make any payments due to such facility in accordance with obligations hereunder already performed by such facility. If a Permanent Cessation of Operations occurs with respect to the XxxxXxxxxxx Facility prior to the XxxxXxxxxxx Facility becoming part of the Nuclear Group, then, effective on the date of the facility’s Permanent Cessation of Operations, the Annual ZEC Cap Amount and the Tranche Cap Amount shall be modified in accordance with their respective definitions in Article I. If a Permanent Cessation of Operations occurs with respect to (a) the XxxxXxxxxxx Facility after the XxxxXxxxxxx Facility becomes part of the Nuclear Group or (b) the Xxxxx Facility, then effective on the date of the facility’s Permanent Cessation of Operations, the Annual ZEC Cap Amount and the Tranche Cap Amount shall be reduced by the Cessation ZEC Reduction Amount and Cessation Tranche Reduction Amount, respectively. Solely for the purpose of determining the Cessation ZEC Reduction Amount and Cessation Tranche Reduction Amount, if either Unit 1 or Unit 2 of the Facility has a Permanent Cessation of Operations, it will be treated as if the entire Facility has a Permanent Cessation of Operations. For purposes of clarity, if a Permanent Cessation of Operations occurs at only Unit 1 or Unit 2 of the Facility, this Agreement shall not terminate, and Seller shall continue to sell, and Buyer shall continue to purchase, ZECs hereunder;
Permanent Cessation of Operations. This Agreement shall terminate sixty days after permanent cessation of operations of Redhawk Units 1 and 2 unless APS and SRP, acting through the Coordinating Committee, and PWE, as owner of Redhawk, specifically agree to continue this Agreement in effect within that sixty day period. For purposes of this Agreement, a permanent cessation of operations for Redhawk Units 1 and 2 shall mean: (i) initiation of physical decommissioning activities at both units; (ii) written notice from PWE to APS and SRP confirming PWE's intention to permanently cease operation of both units; or (iii) failure to maintain all regulatory certifications and permits required for operation of at least one of Redhawk Units 1 and 2 and to keep at least one of Redhawk Units 1 and 2 in such condition that it is capable of being restored to active power production in not more than a 270 day period. If PWE permanently ceases operation of only one of Redhawk Units 1 and 2, this Agreement shall not terminate, but PWE's rights to Tolleson Effluent transferred under this Agreement shall be reduced to a quantity of 3,750 acre-feet per year, which shall thereafter be limited to use at the Redhawk unit (of Units 1 and 2) that has not permanently ceased operation.
Permanent Cessation of Operations. PROMISEE may permanently discontinue mining operations on the Mineral Rights and the Property at any time after the commencement of Commercial Production when in its sole opinion no further mining operations can be economically carried out thereon. At such time PROMISEE shall sell or otherwise dispose of all mining plant and equipment used on the Mineral Rights and the Property, effect all reclamation work as required by law, and sell or otherwise dispose of the Mineral Rights and the Property as it thinks fit. Any purchaser of the Mineral Rights and the Property after the permanent termination of mining operations shall take the Mineral Rights and the Property subject to the rights and obligations relating to the Royalty and the Underlying Owner Royalty set out herein.
Permanent Cessation of Operations. TLGCC permanently stops conducting business activities or otherwise stops operating its clubhouse, golf course, or swimming pool on a permanent basis unless such stoppage is mandated or required by a governing agency or department or changes in State or Federal codes or laws that govern such activity.
Permanent Cessation of Operations. 7.7.1 At any time during an Interruption of Operations, NWMO may deliver a Permanent Cessation Notice. NWMO shall make the following payments to the Municipality within sixty (60) days of delivery of the Permanent Cessation Notice:
