Common use of Plant Material Adverse Effect Clause in Contracts

Plant Material Adverse Effect. Since the Effective Date and prior to the Initial Closing Date, there shall not have occurred and be continuing a Plant Material Adverse Effect, which could reasonably be expected to cause a loss and/or the expenditure by the Buyer within one year following the Initial Closing Date in excess of $50,000,000 individually or in the aggregate, other than arising from facts or circumstances (i) that were within the Buyer's Knowledge on the Effective Date and were not required to be corrected or remediated before the Initial Closing Date by this Agreement, (ii) that were disclosed on any of the Schedules and were not required to be corrected or remediated before the Initial Closing Date by this Agreement, or (iii) such Plant Material Adverse Effect which is the direct and sole result of acts or omissions on the part of the Buyer;

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Baycorp Holdings LTD), Purchase and Sale Agreement (New England Power Co), Purchase and Sale Agreement (Connecticut Light & Power Co)

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Plant Material Adverse Effect. Since the Effective Date and ----------------------------- prior to the Initial Closing Date, there shall not have occurred and be continuing a Plant Material Adverse Effect, which could reasonably be expected to cause a loss and/or the expenditure by the Buyer within one year following the Initial Closing Date in excess of $50,000,000 individually or in the aggregate, other than arising from facts or circumstances (i) that were within the Buyer's Knowledge on the Effective Date and were not required to be corrected or remediated before the Initial Closing Date by this Agreement, (ii) that were disclosed on any of the Schedules and were not required to be corrected or remediated before the Initial Closing Date by this Agreement, or (iii) such Plant Material Adverse Effect which is the direct and sole result of acts or omissions on the part of the Buyer;

Appears in 1 contract

Samples: Purchase and Sale Agreement (Uil Holdings Corp)

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