EFFECT ON SUPPLY AGREEMENTS Sample Clauses

EFFECT ON SUPPLY AGREEMENTS. In the event that a Partner Group sells its entire Interests pursuant to SECTION 8.3 OR 8.4 or has its Interests redeemed pursuant to SECTION 8.5, then the selling Partner Group, by notice not less than 10 Business Days before such sale, shall have the option to terminate the Salmon Supply Agreement, Shell Supply Agreement or Tejas Supply Agreement, as the case may be, to which any member of its respective Salmon U.S. Partner Group, Shell Partner Group or Tejas Partner Group, as the case may be, is party as a "Seller" thereunder, as to natural gas volumes that are not Committed Volumes. The Salmon Supply Agreement, Shell Supply Agreement or Tejas Supply Agreement shall not terminate, and shall remain in full force and effect, as to Committed Volumes. Any such termination as to volumes that are not Committed Volumes shall be effective 60 days after the closing of the sale by the selling Partner Group of its Interests in accordance with SECTION 8.3 OR 8.4 or the redemption pursuant to SECTION 8.5. In the event that a Third Party purchaser of the Interests from the selling Partner Group offers to supply the Committed Volumes upon terms and conditions identical to, or more favorable to the Partnership than, those of the Salmon Supply Agreement, Shell Supply Agreement or Tejas Supply Agreement, as the case may be, and such Third Party is capable of performing such commitment in the reasonable judgment of Shell GP and Tejas GP, then the respective Salmon U.S. Partner Group, Shell Partner Group or Tejas Partner Group, as the case may be, of which the Selling Partner Group is a member shall be released from its obligation to continue supplying Committed Volumes as required by this SECTION 8.12; provided that Salmon Group, Shell Partner Group or Tejas Partner Group, as the case may be, of which the selling Partner Group is a member, shall guarantee performance by such Third Party of its obligations to supply the Committed Volumes.
Sample 1
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EFFECT ON SUPPLY AGREEMENTS. In the event that a Partner Group sells its entire Interests pursuant to SECTION 8.3 OR 8.4 or has its Interests redeemed pursuant to SECTION 8.5, then the selling Partner Group, by notice not less than 10 Business Days before such sale, shall have the option to terminate the Shell Supply Agreement or Tejas Supply Agreement, as the case may be, to which it or its Affiliates are parties as a "Seller" thereunder, as to natural gas volumes that are not Committed Volumes. The Shell Supply Agreement or Tejas Supply Agreement shall not terminate, and shall remain in full force and effect, as to Committed Volumes. Any such termination as to volumes that are not Committed Volumes shall be effective 60 days after the closing of the sale by the selling Partner Group of its Interests in accordance with SECTION 8.3 OR 8.4 or the redemption pursuant to SECTION 8.5. In the event that a Third Party purchaser of the Interests from the selling Partner Group offers to supply the Committed Volumes upon terms and conditions identical to, or more favorable to the Partnership than, those of the Shell Supply Agreement or Tejas Supply Agreement, as the case may be, and such Third Party is capable of performing such commitment in the reasonable judgment of the General Partners, then the selling Partner Group shall be released from its obligation to continue supplying Committed Volumes as required by this SECTION 8.12; provided that Shell Partner Group or Tejas Partner Group, as the case may be, of which the Selling Partner is a member, shall guarantee performance by such Third Party of its obligations to supply the Committed Volumes.
Sample 1

Related to EFFECT ON SUPPLY AGREEMENTS

  • Effect on Agreement Other than as specifically amended herein, the Agreement shall remain in full force and effect.

  • Effect on Other Agreements The provisions of this Agreement shall supersede the terms of any plan, policy, agreement, award or other arrangement of the Employer (whether entered into before or after the Effective Date) to the extent application of the terms of this Agreement is more favorable to the Executive.

  • Effect on Other Plans and Agreements An election by the Executive to resign for Good Reason under the provisions of this Agreement shall not be deemed a voluntary termination of employment by the Executive for the purpose of interpreting the provisions of any of the Company’s benefit plans, programs or policies. Nothing in this Agreement shall be construed to limit the rights of the Executive under the Company’s benefit plans, programs or policies except as otherwise provided in Section 8 hereof, and except that the Executive shall have no rights to any severance benefits under any Company severance pay plan, offer letter or otherwise. In the event that the Executive is party to an agreement with the Company providing for payments or benefits under such plan or agreement and under this Agreement, the terms of this Agreement shall govern and the Executive may receive payment under this Agreement only and not both. Further, Section 5 and Section 6 of this Agreement are mutually exclusive and in no event shall the Executive be entitled to payments or benefits pursuant to both Section 5 and Section 6 of this Agreement.

  • No Effect on Other Parties Upon any termination of the rights and powers of the Servicer with respect to the Transaction SUBI Portfolio pursuant to Section 8.1 hereof, or upon any appointment of a successor Servicer with respect to the Transaction SUBI Portfolio, all the rights, powers, duties and obligations of the Origination Trustees, the UTI Holder and the Settlor under the Origination Trust Agreement, the Servicing Agreement, the Transaction SUBI Supplement, any other SUBI Supplement, any other SUBI Servicing Agreement Supplement or any other Origination Trust Document shall remain unaffected by such termination or appointment and shall remain in full force and effect thereafter, except as otherwise expressly provided herein or therein.

  • Adverse Agreements Company is not, and will not be as of the Closing Date, a party to any agreement or instrument or subject to any charter or other corporate restriction or any judgment, order, writ, injunction, decree, rule or regulation that materially and adversely affects the condition (financial or otherwise), operations, assets, liabilities, business or prospects of Company, the Business or the Assets.

  • Effect on Transaction Documents Except as expressly set forth above, all of the terms and conditions of the Transaction Documents shall continue in full force and effect after the execution of this Agreement and shall not be in any way changed, modified or superseded by the terms set forth herein, including, but not limited to, any other obligations the Company may have to the Purchaser under the Transaction Documents. Notwithstanding the foregoing, this Agreement shall be deemed for all purposes as an amendment to any Transaction Document as required to serve the purposes hereof, and in the event of any conflict between the terms and provisions of the Debentures or any other Transaction Document, on the one hand, and the terms and provisions of this Agreement, on the other hand, the terms and provisions of this Agreement shall prevail.

  • Effect on Purchase Agreement Except as expressly set forth herein, all terms and provisions contained in the Purchase Agreement shall remain in full force and effect. This Agreement contains the entire agreement between the parties with respect to the subject matter hereof and supersedes all previous proposals, and agreements, understandings, commitments or representations whatsoever, oral or written, with respect to the subject matter hereof and may be changed only in writing signed by authorized representatives of the parties.

  • Adverse Agreements, Etc No Loan Party or any of its Subsidiaries is a party to any Contractual Obligation or subject to any restriction or limitation in any Governing Document or any judgment, order, regulation, ruling or other requirement of a court or other Governmental Authority, which (either individually or in the aggregate) has, or in the future could reasonably be expected (either individually or in the aggregate) to have, a Material Adverse Effect.

  • Effect on Prior Agreements Except for amendments to this Agreement, this Agreement contains the entire understanding between the parties hereto and supersedes in all respects any prior or other agreement or understanding between the Company or any affiliate of the Company and Executive.

  • Effect on Obligations Termination of this Agreement pursuant to this Article shall terminate all obligations of the parties hereunder; provided, however, that termination pursuant to paragraph (b) of Section 8.01 shall not relieve any party that breached its covenants or agreements contained herein or in any related agreement from any liability to the other party hereto by reason of such breach.

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