Facility Asset definition

Facility Asset an asset specified in Schedule 4; “Competent Authority” includes the Authority and any local or national agency, authority, department, inspectorate, minister, ministry, official or public or statutory person (whether autonomous or not) of, or of the government of, the United Kingdom or the European Community;

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Facility Asset those assets listed in Schedule 4 “Force Majeure” in relation to a Party, any event or circumstance which is beyond the reasonable control of that Party, and which results in or causes the failure of that Party to perform any of its obligations under this Agreement including any act of God, strike, lockout or other industrial disturbance, act of the public enemy, war declared or undeclared, threat of war, terrorist act, blockade, revolution, riot, insurrection, civil commotion, public demonstration, sabotage, act of vandalism, lightning, fire, storm, flood, earthquake, accumulation of snow or ice, lack of water arising from weather or environmental problems, explosion, fault or failure of plant and apparatus which could not have been prevented by Good Industry Practice, governmental restraint, Act of Parliament legislation, bye-law, and Directive (not being any order, regulation or directive under Section 32, 33, 34 or 35 of the Act) Provided that lack of funds shall not be interpreted as a cause beyond the reasonable control of that Party;

Facility Asset those assets listed in Schedule 4 “Force Majeure” in relation to a Party, any event or circumstance which is beyond the reasonable control of that Party, and which results in or causes the failure of that Party to perform any of its obligations under this Agreement including any act of God, strike, lockout or other industrial disturbance, act of the public enemy, war declared or undeclared, threat of war, terrorist act, blockade, revolution, riot, insurrection, civil commotion, public demonstration, sabotage, act of vandalism, lightning, fire, storm, flood, earthquake, accumulation of snow or ice, lack of water arising from weather or environmental problems, explosion, fault or failure of plant and apparatus which could not have been prevented by Good Industry Practice, governmental restraint, Act of Parliament legislation, bye-law, and Directive (not being any order, regulation or directive under ▇▇▇▇▇▇▇ ▇▇, ▇▇, ▇▇ ▇▇ ▇▇ ▇▇ ▇▇▇ ▇▇▇) Provided that lack of funds shall not be interpreted as a cause beyond the reasonable control of that Party;

Examples of Facility Asset in a sentence

User shall maintain the Facility Asset in accordance with Good Industry Practice.
Nothing in this Option Agreement shall act as a restraint on the sale or transfer of the Facility Assets; provided, that any such sale or transfer shall remain expressly subject to PSNH’s rights hereunder, which rights shall be binding on any subsequent owner of any Facility Asset.
The Party providing the Facility Asset shall maintain the Facility Asset in accordance with Good Industry Practice.
The RTL shall maintain the Facility Asset in accordance with Good Industry Practice.
Upon making any such reallocations, Seller shall promptly deliver to Buyer (by e-mail) a Facility Asset Chart, which then-current Facility Asset Chart shall represent the definitive allocation of Buyer’s Margin Excess (Future Funding) obligations with respect to all Purchased Loans.
The Power Marketer shall maintain a separate book for the Facility ("Asset Book") identifying all open positions, hedging instruments and other commercial and financial instruments resulting from the Power Marketing Services, all in accordance with the Asset Management Policy Manual.
Simultaneously with the Loans being funded ---------------- hereunder, Bank of America, as agent under the Timber Disposition Bridge Facility, Asset Disposition Bridge Facility, Multi-Year Revolver and 18-Month Revolver, will have notified the lenders under such facilities that the "Closing Date" under such facilities shall have occurred.
The Company shall maintain the Facility Asset in accordance with Good Industry Practice.
To that end, contemporaneously with the execution and delivery of this Agreement, Mariner, the Florida Tenant, and the Tallahassee Lessee Affiliate shall enter into the Non-Sovereign Facility Asset Purchase Agreement (together with the Sovereign Facilities Asset Purchase Agreements, the "Asset Purchase Agreements").
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More Definitions of Facility Asset

Facility Asset those assets listed in Schedule 4;

Facility Asset those assets listed in Schedule 4 where A Part One and Part Two are assets provided by [X] to [Y] and B Part One and Part Two are assets provided by [Y] to [X];

Facility Asset means (a) any accounts receivable, fee or royalty receivables, lease receivables, notes receivable or similar instruments, chattel paper, real estate asset, mortgage receivable, revenue stream or other right of payment of any kind (each, a “Payment Right”), (b) any proceeds of any Payment Right, (c) any segregated deposit or securities accounts into which solely the proceeds of Payment Rights or related Receivables Facility Assets are received, (d) all of the interest in the inventory and goods (including returned or repossessed inventory or goods), if any, the sale, financing or lease of which gave rise to any Payment Right and all insurance contracts with respect thereto, (e) all other security interests or liens and property subject thereto from time to time, if any, purporting to secure payment of any Payment Right, whether pursuant to the contract related thereto or otherwise, together with all financing statements and security agreements describing any collateral securing any Payment Right, (f) all guaranties, letters of credit, letter-of-credit rights, supporting obligations, insurance and other agreements or arrangements of whatever character from time to time supporting or securing payment of any Payment Right, whether pursuant to the contract related thereto or otherwise, (g) all contracts (including service contracts) and agreements associated with any Payment Right, (h) all records related to the foregoing and (i) any Capital Stock of any Receivables Subsidiary and any applicable Receivables Subsidiary’s right, title and interest in, to and under the documentation relating to a Receivables Facility. “Receivables Subsidiary” means any Subsidiary formed for the purpose of facilitating or entering into one or more Receivables Facilities and that engages only in activities reasonably related or incidental thereto, or another Person formed for the purposes of engaging in a Receivables Facility in which Holdings or any subsidiary makes an Investment and to which Holdings or any subsidiary transfers Receivables Facility Assets. “Reclassifiable Item” has the meaning assigned to such term in Section 1.03(b). “Refinancing” has the meaning assigned to such term in the recitals hereof. “Refinancing Amendment” means an amendment to this Agreement that is reasonably satisfactory to the Administrative Agent and the Administrative Borrower executed by (a) the Borrower, and, if applicable, any other Loan Parties, (b) the Administrative Agent and (c) each Lender...