Permanent Cessation of Operations Sample Clauses

Permanent Cessation of Operations. As of the Contract Date, the Nuclear Group consists of the Facility and the Nine Mile Facility. If, during the Contract Term, a Permanent Cessation of Operations occurs with respect to (a) the XxxxXxxxxxx Facility or (b) the Nine Mile Facility, then, NYSERDA shall make any payments due to such facility in accordance with obligations hereunder already performed by such facility. If a Permanent Cessation of Operations occurs with respect to the XxxxXxxxxxx Facility prior to the XxxxXxxxxxx Facility becoming part of the Nuclear Group, then, effective on the date of the facility’s Permanent Cessation of Operations, the Annual ZEC Cap Amount and the Tranche Cap Amount shall be modified in accordance with their respective definitions in Article I. If a Permanent Cessation of Operations occurs with respect to (a) the XxxxXxxxxxx Facility after the XxxxXxxxxxx Facility becomes part of the Nuclear Group or (b) the Nine Mile Facility, then effective on the date of the facility’s Permanent Cessation of Operations, the Annual ZEC Cap Amount and the Tranche Cap Amount shall be reduced by the Cessation ZEC Reduction Amount and Cessation Tranche Reduction Amount, respectively. For the purposes of this Section 5.2(b), the Permanent Cessation of Operations of either Unit 1 or Unit 2 of the Nine Mile Facility shall constitute the Permanent Cessation of Operations of the entire Nine Mile Facility;
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Permanent Cessation of Operations. This Agreement shall terminate sixty days after permanent cessation of operations of Redhawk Units 1 and 2 unless APS and SRP, acting through the Coordinating Committee, and PWE, as owner of Redhawk, specifically agree to continue this Agreement in effect within that sixty day period. For purposes of this Agreement, a permanent cessation of operations for Redhawk Units 1 and 2 shall mean: (i) initiation of physical decommissioning activities at both units; (ii) written notice from PWE to APS and SRP confirming PWE's intention to permanently cease operation of both units; or (iii) failure to maintain all regulatory certifications and permits required for operation of at least one of Redhawk Units 1 and 2 and to keep at least one of Redhawk Units 1 and 2 in such condition that it is capable of being restored to active power production in not more than a 270 day period. If PWE permanently ceases operation of only one of Redhawk Units 1 and 2, this Agreement shall not terminate, but PWE's rights to Tolleson Effluent transferred under this Agreement shall be reduced to a quantity of 3,750 acre-feet per year, which shall thereafter be limited to use at the Redhawk unit (of Units 1 and 2) that has not permanently ceased operation.
Sample 1
Permanent Cessation of Operations. PROMISEE may permanently discontinue mining operations on the Mineral Rights and the Property at any time after the commencement of Commercial Production when in its sole opinion no further mining operations can be economically carried out thereon. At such time PROMISEE shall sell or otherwise dispose of all mining plant and equipment used on the Mineral Rights and the Property, effect all reclamation work as required by law, and sell or otherwise dispose of the Mineral Rights and the Property as it thinks fit. Any purchaser of the Mineral Rights and the Property after the permanent termination of mining operations shall take the Mineral Rights and the Property subject to the rights and obligations relating to the Royalty and the Underlying Owner Royalty set out herein.
Sample 1
Permanent Cessation of Operations. TLGCC permanently stops conducting business activities or otherwise stops operating its clubhouse, golf course, or swimming pool on a permanent basis unless such stoppage is mandated or required by a governing agency or department or changes in State or Federal codes or laws that govern such activity.
Sample 1

Related to Permanent Cessation of Operations

  • Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

  • Continuity of Operations (1) Engage in any business activities substantially different than those in which Borrower is presently engaged, (2) cease operations, liquidate, merge, transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell Collateral out of the ordinary course of business, or (3) pay any dividends on Borrower's stock (other than dividends payable in its stock), provided, however that notwithstanding the foregoing, but only so long as no Event of Default has occurred and is continuing or would result from the payment of dividends, if Borrower is a "Subchapter S Corporation" (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of Borrower's stock, or purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Control of Operations Without in any way limiting any party’s rights or obligations under this Agreement, the parties understand and agree that (a) nothing contained in this Agreement shall give Parent or the Company, directly or indirectly, the right to control or direct the other party’s operations prior to the Effective Time and (b) prior to the Effective Time, each of the Company and Parent shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over its operations.

  • Statement of Operations d. Statement of Changes in Net Assets.

  • Cessation A Person shall cease to be a General Partner upon the transfer of its entire interest in the Partnership or upon any event of withdrawal set forth in the Act. Upon the occurrence of any such event of withdrawal, such Person or its transferee shall have the right to receive distributions and allocations with respect to its Partnership interest, shall be treated as the transferee of a Limited Partner, and shall have the right to become a Substituted Limited Partner upon the unanimous written consent of the Limited Partners.

  • Resignation of Operator Subject to Article 4.11, Operator may resign as Operator at any time by so notifying the other Parties at least one hundred and twenty (120) Days prior to the effective date of such resignation.

  • Description of Accounting Services on a Continuous Basis PFPC will perform the following accounting services with respect to each Portfolio:

  • Hours of Operation Tenant will carry on its business diligently and continuously in the Premises and will keep the Premises open for business not less than sixteen (16) consecutive hours each day seven (7) days per week, including holidays. Director or his/her representative may, from time to time, change such required hours of operation, in which event, Tenant will remain open during such revised hours. Similarly, Tenant may, from time to time, request to revise its hours of operation. Such change must be approved by Director or his/her representative, in writing, prior to its occurrence. Tenant may not, at any time, vacate or abandon the Premises.

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