DURATION OF AGREEMENT AND REALIZATION OF ASSETS Sample Clauses

DURATION OF AGREEMENT AND REALIZATION OF ASSETS. 20.1 This Agreement shall become effective on the 8th day of October, 1992 and shall continue in effect for at least an initial period of twenty-seven (27) years ending on the 8th day of October, 2019. It shall be terminable thereafter by agreement of the Parties. Any Party may terminate its participation in this Agreement after the initial period by giving notice in writing to the other Parties at least one (1) year prior to the end of the initial period or at any time thereafter. Upon the effective date of termination of the participation of a Party, Schedules 1, 2, 3, 4 and 5 of this Agreement will be appropriately modified and the remaining Parties to this Agreement shall assume the capital, operating and maintenance interests of the Party terminating its participation in proportion to their interests assigned immediately preceding such effective date of termination, except for the continuing rights and obligations of the terminating Party as specified in Subparagraphs 20.3, 20.4 and 20.5 of this Agreement. No credit of capital costs will be made to a Party that terminates its participation in accordance with this Subparagraph 20.1 unless, as a result of such action, all other Parties agree to terminate this Agreement. Termination of this Agreement or termination of the participation of any Party shall not terminate Subparagraphs 20.3, 20.4 and 20.5 of this Agreement or prejudice the operation or effect thereof or affect or diminish any other right or obligation of any Party hereto accrued or incurred prior to such termination.
Sample 1Sample 2
AutoNDA by SimpleDocs
DURATION OF AGREEMENT AND REALIZATION OF ASSETS. 18.1 This Agreement shall become effective on the date and year first above written and shall continue in operation for at least an initial period of twenty-five (25) years following the RFS Date (hereinafter referred to as “initial Period”) and shall be terminable thereafter by agreement of the Parties. However, any Party may terminate its participation in this Agreement at the end of the Initial Period or any time thereafter by giving not less than one (1) year’s prior notice thereof, in writing, to the other Parties.
Sample 1
DURATION OF AGREEMENT AND REALIZATION OF ASSETS. 20.1 This Agreement shall become effective on the day and year first above written and shall continue for an initial period of twenty-five (25) years, and thereafter until the Network is decommissioned and disposed of in accordance with such regulations as may be in force at the time of decommissioning. However, any Party may terminate its participation in this Agreement at the end of the initial period or any time thereafter, by giving at least one year’s prior notice, in writing, to the other Parties.
Sample 1Sample 2
DURATION OF AGREEMENT AND REALIZATION OF ASSETS. (A) This Agreement shall become effective on the day and year first above written and shall continue in operation for at least twenty-five (25) years after the RFPA Date (hereinafter called, the "Initial Period"), and can be terminated thereafter by agreement of the Parties. Any Party may terminate its participation in this Agreement by giving at least one year's notice in writing to the other Parties expiring at the end of the Initial Period or at any time thereafter. Upon the effective date of termination of participation of a Party, the Schedules of this Agreement will be appropriately modified and the remaining Parties to this Agreement shall assume capital, operation and maintenance interests of the Party terminating its participation in proportion to their interests assigned immediately preceding such effective date of termination, except for the continuing rights and obligations of the terminating Party as specified in Subparagraphs 20(C), (D) and (E) of this Agreement. No credit of capital costs will be made to a Party that terminates its participation in accordance with this Subparagraph 20(A). Termination of this Agreement or termination of the participation of any Party therein shall not terminate Subparagraphs 20(C), (D) and (E) of this Agreement or prejudice the operation or effect, or diminish any other right or obligation of any Party hereto accrued or incurred prior to such termination.
Sample 1
DURATION OF AGREEMENT AND REALIZATION OF ASSETS. 20.1 This Agreement shall become effective on the Effective Date and shall continue in operation for a period of twenty-five (25) years (hereinafter called "Initial Period") after the System RFCS Date and shall be terminable thereafter by agreement of the Parties. However, any Party may terminate its participation in this Agreement at the end of the Initial Period or at any time thereafter by giving at least one year's prior notice, in writing, to the other Parties. The capacity relinquished by the terminating Party may be distributed among the remaining Parties in proportion to their interests assigned immediately preceding the effective date of termination or as the General Committee may decide. The capital, operation and maintenance interest related to that capacity will be allocated accordingly, except for the continuing rights and obligations of the terminating Party as specified in Subparagraphs 20.4, 20.5 and 20.6 of this Agreement. Upon such effective date of termination of participation of a Party, the Schedules of this Agreement shall be appropriately modified. No credit for capital costs will be made to a Party that terminates its participation in accordance with this Subparagraph 20.1. Termination of this Agreement or termination of the participation of any Party herein shall not terminate Subparagraphs 20.4, 20.5 and 20.6 of this Agreement or prejudice the operation or effect thereof or affect or diminish any other right or obligation of any Party hereto accrued or incurred prior to such termination. 20.2 This Agreement may be terminated at any time during the Initial Period with the agreement in writing of all the Parties. If unanimous agreement cannot be reached between all the Parties for the retirement of MAYA-1 during its intended lifetime, this matter will be referred to the General Committee for resolution in accordance with Subparagraph 6.4 but in this case requiring a eighty percent (80%) majority of the total voting interests as specified in Schedule B. 20.3 If a Terminal Party terminates its participation in this Agreement pursuant to Subparagraph 20.1 of this Agreement, after the Initial Period, the remaining Parties and said Terminal Party will negotiate a reasonable agreement in order to ensure the continuous operation of that cable station after the Initial Period. 20.4 The interests of a Party in Segment S of MAYA-1 which come to an end by reason of the termination of its participation in this Agreement, or of the termination o...
Sample 1

Related to DURATION OF AGREEMENT AND REALIZATION OF ASSETS

  • Condition of Assets 4 2.10 TITLE TO AND ENCUMBRANCES ON PROPERTY . . . . . . . . . . . . . . . . . . 4 2.11 INVENTORIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2.12 INTELLECTUAL PROPERTY RIGHTS; NAMES . . . . . . . . . . . . . . . . . . . 4 2.13

  • Location of Assets To keep any property belonging to the Trust at any place in the United States.

  • Protection of Assets (a) Except for transactions and activities entered into in connection with the securitization that is the subject of this Agreement, the Trust Fund created by this Agreement is not authorized and has no power to:

  • Limitation on Disposition of Assets The Company is, subject to certain conditions, obligated to make an offer to purchase Securities at 100% of their principal amount plus accrued and unpaid interest to the date of repurchase with certain net cash proceeds of certain sales or other dispositions of assets in accordance with the Indenture.

  • Contribution of Assets Subject to and upon the terms and conditions contained herein, on the Closing Date, Dentist shall convey, transfer, deliver and assign to Pentegra or any affiliate of Pentegra designated by Pentegra all of Dentist's right, title and interest in and to those certain assets described on EXHIBIT 1.1 attached hereto (individually, "Asset", and collectively "Assets"), free and clear of all obligations, security interests, claims, liens and encumbrances, except as specifically assumed, or taken subject to, by Pentegra pursuant to SECTION 1.3(b) hereof.

  • Assumption of Agreement Employer shall require any Successor thereto, by agreement in form and substance reasonably satisfactory to Executive, to expressly assume and agree to perform this Agreement in the same manner and to the same extent that Employer would be required to perform it if no such succession had taken place. Failure of Employer to obtain such agreement prior to the effectiveness of any such succession shall be a breach of this Agreement and shall entitle Executive to compensation from Employer in the same amount and on the same terms as Executive would be entitled hereunder if Employer had terminated Executive’s employment Without Cause as described in Section 7, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective shall be deemed the Date of Termination.

  • Preservation of Assets Each Obligor shall (and the Company shall ensure that each member of the Restricted Group will) maintain in good working order and condition (ordinary wear and tear excepted) all of its assets necessary in the conduct of its business where failure to do so has or is reasonably likely to have a Material Adverse Effect.

  • Application of Assets Upon dissolution of the Company, the Company shall cease carrying on its business and affairs and shall commence winding up of the Company’s business and affairs and complete the winding up as soon as practicable. The Company’s affairs shall be concluded by the Managers. The assets of the Company may be liquidated or distributed in kind, as determined by the Managers, and the same shall first be applied to the satisfaction (whether by payment or the making of reasonable provision for payment) of the Company’s liabilities and then to the Members. If the assets of the Company shall not be sufficient to pay all of the liabilities of the Company, to the fullest extent permitted by law, no assets of the Company may be sold or disposed of without the written consent of all of the holders of outstanding Securities. To the extent that Company assets cannot either be sold without undue loss or readily divided for distribution in kind to the Members, then the Company may, as determined by the Managers, convey those assets to a suitable holding entity established for the benefit of the Members in order to permit the assets to be sold without undue loss and the proceeds thereof, subject to the Act, distributed to the Member at a future date. The legal form of the holding entity, the identity of the trustee or other fiduciary and the terms of its governing instrument shall be determined by the Managers.

  • VALUATION OF ASSETS (a) Except as may be required by the 1940 Act, the Board of Managers shall value or have valued any Securities or other assets and liabilities of the Fund as of the close of business on the last day of each Fiscal Period in accordance with such valuation procedures as shall be established from time to time by the Board of Managers and which conform to the requirements of the 1940 Act. In determining the value of the assets of the Fund, no value shall be placed on the goodwill or name of the Fund, or the office records, files, statistical data or any similar intangible assets of the Fund not normally reflected in the Fund's accounting records, but there shall be taken into consideration any items of income earned but not received, expenses incurred but not yet paid, liabilities, fixed or contingent, and any other prepaid expenses to the extent not otherwise reflected in the books of account, and the value of options or commitments to purchase or sell Securities or commodities pursuant to agreements entered into prior to such valuation date.

  • Liquidation of Assets We have the right to liquidate assets in your Xxxx XXX if necessary to make distributions or to pay fees, expenses, taxes, penalties, or surrender charges properly chargeable against your Xxxx XXX. If you fail to direct us as to which assets to liquidate, we will decide, in our complete and sole discretion, and you agree to not hold us liable for any adverse consequences that result from our decision.

Time is Money Join Law Insider Premium to draft better contracts faster.