Definition of Existing Facility
Examples of Existing Facility in a sentence
If for example, the Existing Facility is too small to accommodate Student numbers at that time, D&B Co's obligation to provide or pay for additional alternative accommodation (such as portacabins) shall only apply to the extent necessary to accommodate those Students / classes that cannot be taught in the Existing Facility.
Beyond agreed parameters, Existing Project Co may incur abatement in respect to non-availability of the Existing Facility.
Each New Senior Lender acknowledges and agrees that such New Senior Lender shall have no rights as a Lender in respect of the repayment of any Loans or Disbursements made prior to the date hereof pursuant to the Existing Facility Agreement or any right to receive any Warrants.
Given the physical interdependency between the Existing Facility and the expansion, the State generally has the option to deal with the site as a whole under a termination scenario of either project agreement, subject to payment of appropriate termination payments.
The Owner shall transfer the care, control and responsibility for all existing equipment, materials, supplies and consumables, if any, used to operate and maintain the Existing Facility (the “Existing Equipment and Materials”) to the Operator on the Design-Build Starting Date at no cost to the Operator.