Nuclear Facility Clause Samples
The 'Nuclear Facility' clause defines what constitutes a nuclear facility within the context of the agreement, typically for the purposes of insurance or liability exclusions. It usually specifies that certain locations or operations—such as nuclear power plants, reactors, or sites handling radioactive materials—are classified as nuclear facilities. This definition is crucial because it delineates the scope of coverage or responsibility, often excluding damages or liabilities arising from incidents at such facilities, thereby allocating risk and clarifying the parties' obligations regarding nuclear-related incidents.
Nuclear Facility. Dynegy covenants and agrees that, it shall not acquire, own or operate (and shall prevent any subsidiary or joint venture to which it is a party from acquiring, owning or operating) a facility licensed by the Nuclear Regulatory Commission (a “Nuclear Facility”). This restriction shall not prohibit Dynegy and its subsidiaries from owning up to 10% of the equity securities of any publicly-traded company that owns or operates a Nuclear Facility.
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Nuclear Facility. This means:
Nuclear Facility. Newco covenants and agrees that, from and after the Closing, it shall not acquire, own or operate (and shall prevent any subsidiary or joint venture to which it is a party from acquiring, owning or operating) a facility licensed by the Nuclear Regulatory Commission (a "Nuclear Facility"). This restriction shall not prohibit Newco and its subsidiaries from owning up to 10% of the equity securities of any publicly-traded company that owns or operates a Nuclear Facility.
Nuclear Facility. 26 NYSE.........................................................................3 Parent.......................................................................1