Wind-Down Provisions Clause Samples

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Wind-Down Provisions. The Parties agree to work together in good faith to effect an orderly wind down of the School Bus Stop Arm Program in the event of termination or expiration, which at a minimum shall be carried out in accordance with the following guidelines: In the event of termination or expiration of this Agreement, BusPatrol shall be relieved of any further obligations related to the installation, operation and maintenance of the BusPatrol System within the School District. The School District and BusPatrol shall agree upon a methodical and efficient schedule for BusPatrol to remove all BusPatrol Equipment from the School Buses, at no cost to School District. Unless agreed- upon otherwise, BusPatrol shall have a minimum of 180 calendar days following the date of termination or expiration to complete the removal of all BusPatrol Equipment. Notwithstanding any other provision of this Agreement to the contrary, the School District and BusPatrol agree that any Notice of Violation issued prior to the effective date of termination or expiration shall continue to be processed and administered by BusPatrol according to the provisions of this Agreement, including the Technology Fees/Revenue Sharing provisions in Article 5.0. BusPatrol shall, within a reasonable amount of time, deliver to the School District a final report regarding the issuance of Notices of Violation and collection of fines under this Agreement. Unless the School District and BusPatrol have agreed to enter into a new agreement relating to the BusPatrol System or have agreed to extend the Term of this Agreement, the School District shall immediately cease using the BusPatrol System upon termination of expiration of this Agreement, and shall allow BusPatrol to remove any and all BusPatrol Equipment installed in connection with BusPatrol's performance of this Agreement. At BusPatrol's option, interior wiring harnesses may be abandoned in place. BusPatrol shall repair all cosmetic damage to the School District’s buses caused when BusPatrol removes BusPatrol Equipment or other items installed by BusPatrol in the School District’s buses.
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Wind-Down Provisions. 18.1 In the event that the Agent determines (in its absolute discretion) that it is necessary to wind-down LBT, the Agent will notify the Lender and the Borrower by serving a Wind-Down Notice on each of them. Without prejudice to any rights of the Agent or the Lender and notwithstanding any terms to the contrary contained in any part of the Loan Agreement, upon the issuance of a Wind-Down Notice the Loan will become due and payable by the Borrower on the 30th calendar day following the date of the Wind-Down Notice, whereupon the Borrower shall immediately repay the Loan together with all interest accrued and all other sums payable under this agreement. 18.2 If the Borrower fails to comply with its obligations set out in clause 18.1 above, LBT (as agent for the Lender) will enforce the Security Document and sell Pledged Metal in order to repay the Loan and any interest, fees and charges (as the case may be) payable by the Borrower under this agreement and the Security Document. In selling Pledged Metal, LBT will transfer the required quantity of Pledged Metal to the buyer thereof and the Borrower acknowledges and agrees thereto. The provisions of clause 13.2.4 shall apply to this clause. 18.3 No Prepayment Fee will arise following any prepayment made by the Borrower pursuant to this clause 18.
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Wind-Down Provisions. (1) In the event of termination or non-renewal, Contractor and Board will agree on a wind-down plan that provides for the removal of BusPatrol equipment at BusPatrol’s full expense and other provisions called for in BusPatrol’s Supplemental Proposal. If BusPatrol does not satisfactorily remove BusPatrol’s equipment within a timeframe mutually acceptable to both parties, but not to exceed 90 calendar days, Board may remove the equipment and withhold the costs of removal from any sums due BusPatrol and/or institute legal proceedings for the cost of removal, in which event BusPatrol shall be liable for all costs of collection including reasonable attorneys’ fees. (2) In lieu of removing BusPatrol equipment, the parties may agree to transfer cameras, other than the Stop Arm Cameras, installed on Howard County buses (“Non-Enforcement Equipment”) upon expiration or earlier termination of this Agreement. In the event of a transfer of the cameras to the Board, and in accordance with Contractor’s Supplemental Proposal, Board would be required to pay, in full, the balance of remaining Technology Fees shown in BusPatrol’s Pricing Proposal, and title to all Stop Arm Cameras would nevertheless remain with Contractor.
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Wind-Down Provisions. In the case of cancellation or expiration of the HSL program, the following provisions shall apply: -All existing borrower interest rates in effect as of the date of program cancellation shall remain in effect until final payment of the loans, provided that VEIC has made the required IBR payment for the full term of the loans in accordance with Attachment B. -When the portfolio of HSL loans issued under this Contract is fully retired, the Maximum amount payable: $XXX; this value represents the maximum total payment under this Contract for interest rate buy-downs (IRB) and loan loss reserves (LLR). Payment will be made to Contractor based on IRB and LLR calculated values for loans that have closed during each invoice period. All invoices submitted by the Contractor to VEIC shall make reference to “Contract” and the contract number appearing at the top of Page 1 of this Contract. Invoices must be submitted monthly with required loan data using the Invoice Reporting Template (see Exhibit 1). Invoices submitted without the required Reporting or cost breakdown will be returned to the Contractor. Required Loan Data for Invoice (provided monthly); see Exhibit 1- Contractor Invoice Reporting Template Excel spreadsheet with following information for each loan, along with totaled values, where specified below: • Loan close date • Loan amount (principal) • Primary project measure category • Secondary project measure category (if applicable) • Town of borrower • Whether borrower is a Vermont Gas customer • Loan income tier category (A, B, C, D) • Loans determined to qualify as “low income” • Full Cost Interest rate, Discounted Interest Rate, and the interest rate difference between them. • Interest rate buy-down dollar amount (using net present value calculator) • Loans denied (total number of loans denied, and total principal amount denied, broken out income tier per loan) • Loan loss reserve dollar amount (based on terms of this agreement) • Length of loan term • Total cost of IRB for the invoice period • Total cost of LLR for the invoice period • Total cost of IRB and LLR for loans that also qualify for low-income (≤80% county AMI by household size) • Total monetary value of all loans issued in the invoice period (Principal, $) • Total principal repaid for all loans during the invoice period ($) • Total monetary value of outstanding loan amounts (Principal, $) • LLR balance ($) at the beginning of the invoice period. • LLR additions ($) during the invoice period, i...
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Related to Wind-Down Provisions

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