Cash Grant Recapture Liabilities Sample Clauses

Cash Grant Recapture Liabilities. Any Cash Grant Recapture Liability has been claimed against an Obligor pursuant to a written notice demanding payment issued by the U.S. Treasury Department or any other applicable Governmental Authority unless (i) such Cash Grant Recapture Liabilities are paid in full on or prior to the deadline for payment set forth in such notice or demand, (ii) an Obligor has commenced disputing in good faith the claim within the time periods required for payment in such notice (and is thereafter diligently and in good faith pursuing such dispute), or (iii) adequate security (which may include a guarantee from a Qualified Guarantor or a letter of credit that is non-recourse to the Idaho Wind Entities from a Qualified LC Issuer), in form and substance reasonably satisfactory to Administrative Agent and the Majority Lenders, in the full amount of such Cash Grant Recapture Liability (as set forth in the demand notice) has been posted for the benefit of the Secured Parties; or
Sample 1
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Cash Grant Recapture Liabilities. Any Cash Grant Recapture Liability shall have been assessed against Borrower or otherwise in respect of the Project, pursuant to a written demand issued by the United States Treasury Department, and Borrower fails to pay such Cash Grant Recapture Liability in full on or prior to the deadline for payment thereof (as set forth in such notice or demand of the United States Treasury Department, if applicable), or Borrower has knowledge of any circumstance or event which would reasonably be expected to result in any Cash Grant Recapture Liability, unless Borrower has established, to Lender’s reasonable satisfaction, reserves to cover the reasonably anticipated amount of the Cash Grant Recapture Liability, which such reserves shall have been funded with equity contributions from Sponsor and Idaho Sponsor deposited in a segregated account, and which such account shall be pledged to Lender, and shall be subject to a control agreement in form and substance reasonably satisfactory to Lender. For the avoidance of doubt, Borrower shall not be entitled to make distributions for the purpose of funding the foregoing reserves unless such distributions are otherwise permitted hereunder.
Sample 1
Cash Grant Recapture Liabilities. Any Cash Grant Recapture Liability has arisen with respect to any asset that is included in or part of the Project and has not been satisfied by the Borrower within fifteen (15) days, unless such Cash Grant Recapture Liability arises in connection with the Lender or DOE foreclosing on the Project or directing the foreclosure on the Project.
Sample 1

Related to Cash Grant Recapture Liabilities

  • CONTRIBUTION IN THE EVENT OF JOINT LIABILITY (a) To the fullest extent permissible under applicable law, if the indemnification, hold harmless and/or exoneration rights provided for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying, holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right of contribution it may have at any time against Indemnitee.

  • Forfeiture Allocations Upon a forfeiture of any Unvested LTIP Units or Unvested Performance Units by any Partner, gross items of income, gain, loss or deduction shall be allocated to such Partner if and to the extent required by final Regulations promulgated after the Effective Date to ensure that allocations made with respect to all unvested Partnership Interests are recognized under Code Section 704(b).

  • Right to Severance Benefits The Executive shall be entitled to receive from the Company Severance Benefits, as described in Section 4.3, if the Executive has incurred a Qualifying Termination. The Executive shall not be entitled to receive Severance Benefits if his employment terminates (regardless of the reason) before the Protected Period (as such term is defined in Section 4.2(c)) corresponding to a Change in Control of the Company or more than twenty-four (24) months after the date of a Change in Control of the Company.

  • Allocation of Excess Nonrecourse Liabilities For purposes of determining a Holder’s proportional share of the “excess nonrecourse liabilities” of the Partnership within the meaning of Regulations Section 1.752-3(a)(3), each Holder’s respective interest in Partnership profits shall be equal to such Holder’s Percentage Interest with respect to Partnership Common Units, except as otherwise determined by the General Partner.

  • POST-TERMINATION OBLIGATIONS All payments and benefits to Executive under this Agreement shall be subject to Executive's compliance with this Section 9 for one (1) full year after the earlier of the expiration of this Agreement or termination of Executive's employment with the Holding Company. Executive shall, upon reasonable notice, furnish such information and assistance to the Holding Company as may reasonably be required by the Holding Company in connection with any litigation in which it or any of its subsidiaries or affiliates is, or may become, a party.

  • FORFEITURE ALLOCATION Subject to any restoration allocation required under Sections 5.04 or 9.14, the Advisory Committee will allocate a Participant forfeiture in accordance with Section 3.04: (Choose (a) or (b); (c) and (d) are optional in addition to (a) or (b))

  • Excess Nonrecourse Liability Safe Harbor Pursuant to Section 1.752-3(a)(3) of the Regulations, solely for purposes of determining each Partner’s proportionate share of the “excess nonrecourse liabilities” of the Partnership (as defined in Section 1.752-3(a)(3) of the Regulations), the Partners’ respective interests in Partnership profits shall be determined under any permissible method reasonably determined by the General Partner; provided, however, that each Partner who has contributed an asset to the Partnership shall be allocated, to the extent possible, a share of “excess nonrecourse liabilities” of the Partnership which results in such Partner being allocated nonrecourse liabilities in an amount which is at least equal to the amount of income pursuant to Section 704(c) of the Code and the Regulations promulgated thereunder (the “Liability Shortfall”). If there is an insufficient amount of nonrecourse liabilities to allocate to each Partner an amount of nonrecourse liabilities equal to the Liability Shortfall, then an amount of nonrecourse liabilities in proportion to, and to the extent of, the Liability Shortfall shall be allocated to each Partner.

  • PARTICIPANT NONDEDUCTIBLE CONTRIBUTIONS The Plan: (Choose (a) or (b); (c) is available only with (b)) [X] (a) Does not permit Participant nondeductible contributions. [ ] (b) Permits Participant nondeductible contributions, pursuant to Section 14.04 of the Plan.

  • Compensation; Indemnity; Fees The Depositor agrees:

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