Third Grace Period Sample Clauses

Third Grace Period. If the Other Cities do not cure Tempe’s default for CAP NIA M&I Equivalent Priority Water or HVID CAP Water by the end of the Second Grace Period, then CAWCD may then cure the default by tendering any remaining portion of the Default Amount within fifteen (15) days after the end of the Second Grace Period (“Third Grace Period”). Each curing entity shall succeed to the interest and obligation of Tempe to the extent of its contribution, and Tempe and each curing entity shall execute an Assignment and Assumption Agreement in the form attached hereto as Exhibit 6.4 (Exhibit 10.1.1.1B of the Quantification Agreement) whereby the curing entity or entities agree to be bound by the terms of this Lease Agreement to the extent of its/their contribution. Tempe shall be responsible for any proportionate remainder of any Default amount not cured by the Other Cities or CAWCD pursuant to Subparagraphs 6.4(B) and (C). A copy of such Assignment and Assumption Agreement(s) shall be provided by the curing entity to the Operating Agency, the WMAT and the United States. The WMAT shall accept payment from such curing entity or entities in lieu of payment by Tempe. If the curing entities collectively request more water than what is available for assignment and assumption under this Subparagraph, such curing entities shall succeed to the interest of Tempe in equal shares (“Equal Share Amount”); provided, however, if any of the curing entities requests less water than its Equal Share Amount, then the difference between that curing entity’s Equal Share Amount and the amount it requested shall be divided among the other curing entities in equal shares. If Tempe fails to cure its default within the time-period set forth in Subparagraphs 6.4(B) and (C) it shall execute an Assignment and Assumption Agreement, the form of which is attached hereto as Exhibit 6.4 with each curing entity; provided, however, that if the default is not fully cured by the end of the Third Grace Period, Tempe’s right to Leased Water that has not been assigned pursuant to Subparagraphs 6.4(B) and (C) shall be forfeited back to the WMAT and the WMAT shall be entitled to the remedy described in Subparagraph 6.4(D) of this Lease Agreement pro rata for that portion that has not been cured as provided for herein. If Tempe, or Tempe and any combination of the Other Cities, and CAWCD have arranged to cure the default and the curing entities have signed all necessary Assignment and Assumption Agreements, but Tempe has ...
Sample 1
AutoNDA by SimpleDocs

Related to Third Grace Period

  • Grace Period With respect to each Mortgage Loan, the related Mortgage, Mortgage Note or loan agreement provides a grace period for delinquent monthly payments no longer than fifteen (15) days from the applicable Due Date or five (5) days from notice to the related Mortgagor of the default.

  • week period If an employee fails to return at the end of the family care or medical leave, the CSU may require repayment of insurance premiums paid during the unpaid portion of the leave. The CSU shall not require repayment of premiums if the employee's failure to return is due to his/her serious health condition or due to circumstances beyond the employee's control.

  • Evaluation Period Customer’s right to use the Services on a Trial Basis are time-limited and will terminate immediately upon the earlier of (i) the trial end date as specified in an Order Form or other document executed by the parties regarding such trial, or (ii) the start date of when Customer purchases a right to use such Services on a non-Trial Basis, or (iii) the date when QuoVadis terminates Customer’s right to use the Services on a Trial Basis (which QuoVadis may do at any time in its sole discretion). Customer must cease using the Services on a Trial Basis upon any such termination.

  • Grace Periods The related Mortgage or Mortgage Note provides a grace period for Monthly Payments no longer than ten (10) days from the applicable Due Date.

  • Maintenance Period During the Maintenance Period the Developer shall at its own expense maintain repair and otherwise S.9 keep the Works in good working order and repair to the reasonable satisfaction of xxx Xxxxxxxxxx unless xxx Xxxxxxxxxx shall declare that any required maintenance and/or repair is an emergency in which case the Developer shall carry out the said maintenance and/or repair immediately Access to the Works and consequences of inspections The Developer shall arrange for xxx Xxxxxxxxxx to have access to the Works and the Site at all

  • Trial Service Period 1. Except for those employees in an in-training appointment, all other employees with permanent status who are promoted, or who voluntarily accept a transfer or demotion into a job classification for which they have not previously attained permanent status, will serve a trial service period of six (6) consecutive months. The Employer may extend the trial service period to no more than twelve (12) consecutive months, provided the employee is given written, performance based reasons for the extension. The Employer agrees to notify the employee when it intends to extend the trial service period beyond six (6) months. The employee may choose to notify the union.

  • Minimum Term Each Service will continue for its specified Minimum Term and thereafter for any Renewal Term(s) unless notice to terminate the Service is given in accordance with this Agreement.

  • Acceptance Period For all Services provided under this Agreement, Vendor grants to Citizens a thirty (30) calendar day acceptance period ("Acceptance Period") commencing on the date completed Services are delivered to Citizens. Citizens shall have the right to reject the Services, in whole or in part, during the Acceptance Period for Vendor’s failure to meet the specifications associated with the delivered Services, with such determination to be made in Citizens’ reasonable judgment. At the end of the Acceptance Period, if Citizens has not rejected the Services, the Services shall be deemed to be accepted by Citizens; provided, however, that Citizens’ acceptance of the Services shall not be deemed a waiver of any of Citizens’ warranty rights as expressly provided in this Agreement.

  • AGREEMENT PERIOD The terms of this Agreement and the performance of the parties hereto shall commence, or be deemed to have commenced, the 1st day of January 2020 and will continue through the 31st day of December 2020, both dates inclusive, unless sooner terminated or extended as provided for herein.

  • Training Period The training provided for in this article shall be given during the hours of work whenever possible. Any such training outside of working hours shall be considered voluntary unless at the request of the Employer, in which case time devoted to training shall be considered as time worked.

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