Contract Permit definition
Examples of Contract Permit in a sentence
Owner shall promptly provide a complete, up-to-date copy of any Contract, Permit or Order the ISO requests that: (a) addresses the ownership or control of an RMR Generator, (b) is relevant to determining the costs and revenues of an RMR Generator (including the cost of a repair, addition or modification), (c) addresses the operation of an RMR Generator, or (d) could impact the availability, production or sale of Energy, Unforced Capacity, or Ancillary Services from an RMR Generator.
If a Contract, Permit or Order that the ISO requests is in the process of being renewed, extended, modified or re-negotiated, Owner shall so inform the ISO when it provides the requested Contract, Permit or Order to the ISO.
Seller shall be responsible for securing any consent from third parties who have the right to consent to the transfer of any Contract, Permit, Intangible Property and/or Lease and Purchaser shall be responsible for paying any fee in connection therewith, including but not limited to, any termination fee.
Notwithstanding anything contained herein or in any agreement or certificate executed and delivered in connection with the transactions contemplated hereby to the contrary, neither this Agreement nor any such agreement or certificate shall constitute an agreement to assign any Contract, Permit or any claim or right or any benefit arising thereunder or resulting therefrom if an attempted assignment thereof, without the consent of a third party thereto, would constitute a default thereof.
Neither the execution and delivery of this Agreement by Seller or Genco nor the consummation of the transactions contemplated by this Agreement (i) results in a violation or breach of, or constitutes a default or an event of default under, any bond or other material Contract, Permit, instrument or other obligation to which Seller or Genco is a party, or (ii) violates any Laws, writ, judgment, injunction or court decree.
Notwithstanding any other provision hereof, this Agreement shall not constitute or require an assignment to Buyer of any Contract, Permit, or other right if an attempted assignment of the same without the consent of any party would constitute a breach thereof or a violation of Applicable Law unless and until such consent shall have been obtained.
With respect to any such Assumed Contract, Permit or Grant, and for a period of two years following the Closing Date, the Company shall use reasonable efforts to obtain such consents and shall cooperate with the Buyer in any reasonable and lawful arrangement designed to provide the Buyer with the rights and benefits (subject to the obligations) under any such Assumed Contracts, Permit or Grant.
In the event that the Company shall have failed prior to the Closing Date to obtain consents to the transfer of any Contract, Permit or other right that cannot be effectively transferred to Buyer without such consent (a "Consent Required Contract"), and the Buyer nevertheless determines to proceed with the Closing, the terms of this Section 8.1 shall govern the transfer of the benefits of each such Consent Required Contract.
Neither the execution and delivery by CTB or On Stage of the Transaction Documents to which each is a party, nor the performance of the Transactions to be performed by each of them thereunder, will require any filing, consent or approval or constitute a Default under (a) any Law or Court Order to which it is subject, (b) its Charter Documents or bylaws or (c) any Contract, Permit or other document to which each is a party or by which each of its properties or other assets may be subject.
If such consents are not obtained for any such Assumed Contract, Permit or Grant during the two year period following the Closing, the Company shall no longer have any obligation to use any reasonable efforts to obtain such consent, but the Company will, so long as it shall continue to be in existence, continue to cooperate with the Buyer in any lawful arrangement to provide the Buyer with the rights and benefits of such Assumed Contract, Permit or Grant as described above.