Contribution Date; Contribution Deadline Sample Clauses

Contribution Date; Contribution Deadline. The "Contribution Deadline" shall be the date that is forty-five (45) days after the Effective Time or, if such day is not a Business Day, the next Business Day. The "Contribution Date" shall be the date that is three (3) Business Days after the date on which both the Company and Siemens Westinghouse Power Corporation have executed the Combustion Turbine Purchase Contract (or, as the case may be, the date on which the Combustion Turbine Purchase Contract previously executed by Calpine, on the Management Committee's direction, and Siemens Westinghouse Power Corporation is assigned by Calpine to the Company). If the Combustion Turbine Purchase Contract is not executed by the Company (or executed by Calpine and assigned to the Company) on or before the Contribution Deadline, Acadia Holdings, in its sole discretion, may elect, by written notice to Calpine, either to (a) extend the Contribution Deadline for a reasonable time in order for the Combustion Turbine Purchase Contract to be executed by the Company (or executed by Calpine and assigned to the Company, if the Management Committee so directs), not to exceed sixty (60) days after the original Contribution Deadline, or (b) trigger the Windup Events in accordance with Article 15. Failure by Acadia Holdings to provide notice in the foregoing circumstance within five (5) Business Days following the original Contribution Deadline shall be deemed an election to extend the Contribution Deadline until the sixtieth (60th) day after the original Contribution Deadline. If Acadia Holdings elects to extend the Contribution Deadline, but the Combustion Turbine Purchase Contract is not executed by the Company (or executed by Calpine and assigned to the Company) on or before the extended Contribution Deadline, the Windup Events shall be commenced in accordance with Article 15. If the Windup Events are commenced under this Section 3.2.4, then, notwithstanding anything to the contrary in Section 15.2.3, following reasonable advance notice by Acadia Holdings to Calpine, within three (3) Business Days after Acadia Holdings tenders reimbursement to Calpine for all payments made by Calpine to the steam turbine generator vendor to reserve the steam turbine generators for the Project and under the Steam Turbine Purchase Contract, Calpine shall assign to Acadia Holdings the Steam Turbine Purchase Contract (provided the Steam Turbine Purchase Contract was previously entered into by Calpine).