Restrictions on Elimination of Payment Obligations Sample Clauses

Restrictions on Elimination of Payment Obligations. No sale, assignment or other disposition of Purchaser’s Project Rights and Obligations to any Person (“Assignee”) shall release Purchaser from its payment obligations under this Agreement; provided, however, such payment obligations may be eliminated or reduced if the sale, assignment or other disposition is made pursuant to Section 15.1 of this Agreement, or if (i) such Assignee shall assume and agree in writing to fully perform and discharge the Project Rights and Obligations under its Power Sales Agreement, (ii) such Assignee shall have a corporate or long-term senior unsecured credit rating of A- or higher by S&P or A 3 or higher by Moody’s, unless otherwise provided by the Board of Directors, and (iii) the Board of Directors, by resolution, determines to eliminate or reduce such payment obligations, which determination shall not be unreasonably withheld.
Sample 1Sample 2Sample 3See All (9)
AutoNDA by SimpleDocs
Restrictions on Elimination of Payment Obligations. Nb sale, assignment or other disposition of Purchaser’s Project Rights and Obligations to any Person (“Assignee”) shall release Purchaser from its payment obligations under this Agreement; provided, however, such payment obligations may be eliminated or reduced if (i) such Assignee shall assume and agree to fully perform and discharge the Project Rights and Obligations under this Agreement, (ii) unless otherwise provided by resolution of the Board of Directors, such Assignee shall have a corporate or long-term senior unsecured credit rating not less than Standard & Poors A- or Xxxxx'x A3, and (iii) the Board of Directors, by resolution, determines in its sole discretion to eliminate or reduce such payment obligations. For avoidance of doubt, notwithstanding the forgoing, no such sale, assignment or disposition shall cause SCPPA to be in default of any term or condition ofthe Project Agreements.
Sample 1
Restrictions on Elimination of Payment Obligations. No sale, assignment or other disposition of Purchaser’s Project Rights and Obligations to any person or entity (“Assignee”) that occurs during the term of the Power Purchase Agreement shall release Purchaser from its payment obligations under this Agreement. Provided, however, such payment obligations may be eliminated or reduced if (i) the Assignee meets the credit rating set forth in the Credit Requirements of the Power Purchase Agreement (ii) such Assignee shall assume and agree to fully perform and discharge the Project Rights and Obligations under this Agreement, (iii) such Assignee shall have a corporate or long-term senior unsecured credit rating not less than investment grade, and (iv) the Board of Directors, by resolution, determines to eliminate or reduce such payment obligations, which determination shall not be unreasonably withheld.
Sample 1
Restrictions on Elimination of Payment Obligations. No sale, assignment or other disposition of Purchaser’s Project Rights and Obligations to any Person (“Assignee”) that occurs when any Bonds are outstanding shall release Purchaser from its payment obligations under this Agreement; provided, however, such payment obligations may be eliminated or reduced if no Bonds are outstanding or adequate provisions for the payment thereof have been made in accordance with the provisions of the Indenture if (i) such Assignee shall assume and agree to fully perform and discharge the Project Rights and Obligations under this Agreement, (ii) unless otherwise provided by resolution of the Board of Directors, such Assignee shall have a corporate or long-term senior unsecured credit rating not less than Standard & Poors A- or Xxxxx'x A3, and (iii) the Board of Directors, by resolution, determines in its sole discretion to eliminate or reduce such payment obligations. For avoidance of doubt, notwithstanding the forgoing, no such sale, assignment or disposition shall cause SCPPA to be in default of any term or condition of the Power Purchase Agreement or of any Project Agreement.
Sample 1
Restrictions on Elimination of Payment Obligations. So long as any obligations remain Outstanding under an Indenture, no sale, assignment or other disposition of a Participant’s GES shall release such Participant from its obligations under this Agreement except to the extent of moneys received by NCPA as a result of such sale, assignment or other disposition of GES, less NCPA’s related costs and expenses; provided however, that such obligations may be eliminated or reduced if no obligations remain Outstanding under an Indenture and the Participant Committee and NCPA’s Commission determine to eliminate or reduce such obligations, which determination shall not be unreasonably withheld.
Sample 1

Related to Restrictions on Elimination of Payment Obligations

  • Restrictions on Payments An employee shall not be entitled to payment for inclement weather as provided for in this clause unless the employee remains on the job until the provisions set out in this clause have been observed.

  • Restriction on Disbursements No Entitlement Funds shall be disbursed to the Developer or contractor except pursuant to a written contract, which incorporates by reference the general conditions of this contract.

  • Restriction of payment An employee shall not be entitled to payment for inclement weather as provided for in this clause unless the employee remains on the job until the provisions set out in this clause have been observed.

  • OBLIGATION OF FUNDS This BPA does not obligate any funds. WCCA is obligated only to the extent of authorized purchases through Orders actually made under the BPA.

  • Obligations on Termination If this Agreement is completed, expires, or is terminated in whole or in part for any reason, then:

  • Restrictions to Safeguard the Balance of Payments 1. The Parties shall endeavour to avoid the imposition of restrictions to safeguard the balance of payments.

  • – GENERAL PROVISIONS ON PAYMENTS II.16.1 Payments shall be made by the Commission in euro. Any conversion of actual costs into euro shall be made at the daily rate published in the Official Journal of the European Union or, failing that, at the monthly accounting rate established by the Commission and published on its website applicable on the day when the payment order is issued by the Commission, unless the Special Conditions of the agreement lay down specific provisions. Payments by the Commission shall be deemed to be effected on the date when they are debited to the Commission's account.

  • Restrictions on Use Licensee is not permitted to make any use of the Licensed Marks in connection with products or services other than the Sprint PCS Products and Services, and as specifically authorized in Sections 1.1(b) above with respect to Related Equipment and Premium and Promotional Items, nor to make any use of the Licensed Marks directed outside of the Service Area.

  • Judicial Council 's Obligation Subject to Availability of Funds A. The Judicial Council's obligation under this Agreement is subject to the availability of authorized funds. The Judicial Council may terminate the Agreement or any part of the Contract Work, without prejudice to any right or remedy of the Judicial Council, for lack of appropriation of funds. If expected or actual funding is withdrawn, reduced, or limited in any way prior to the expiration date set forth in this Agreement, or in any Amendment hereto, the Judicial Council may, upon written Notice to the Contractor, terminate this Agreement in whole or in part. Such termination shall be in addition to the Judicial Council's rights to terminate for cause or other than for cause, as set forth herein.

  • Restrictions on Resale The Awardee agrees not to sell any Shares at a time when Applicable Laws, Company policies, or an agreement between the Company and its underwriters prohibit a sale. This restriction shall apply as long as the Awardee is a Service Provider and for such period after the Awardee's Termination of Service as the Administrator may specify.

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