Failure to Operate definition

Failure to Operate. As defined in Article 16.

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Failure to Operate. As defined in Section 16.1.

Failure to Operate. As defined in Article 16. FAILURE TO PERFORM: As defined Article 16.

Examples of Failure to Operate in a sentence

Licensee shall promptly notify ISF1 in writing if Licensee’s activities, including but not limited to decisions of Licensee’s directors, officers or other agents, or lack thereof, would constitute or give rise to a Failure to Operate by Licensee.
After commencement of installation of the Project , Provider abandons installation of the Project for thirty (30) days and fails to resume installation within thirty (30) days after receipt of notice from Host stating that, in Host ’s reasonable determination, Provider has abandoned installation of the Project ; Failure to Operate.
If Licensee does not provide broadband services to any location within the boundaries of the City: (i) within twelve (12) months after the License Commencement Date or (ii) for the duration of a Failure to Operate Period, payment at the rate of 5¢ (five cents) per linear foot of in- ground and constructed fiber annually shall be considered the payment of due compensation.
Failure by any Borrower to perform, keep or observe any other term, provision, condition, or covenant set forth in this Agreement and/or the other Loan Documents; or Failure to Operate .
At any time during the Go Dark Period, Landlord, in its sole discretion, may terminate this Lease by giving Tenant written notice of such termination (the "Failure to Operate Notice").
The Parties accordingly agree that Licensee shall pay to the Judicial Council on demand the sum of Two Hundred Fifty Dollars ($250) for each and every day of any Failure to Operate as liquidated damages, which sum shall be payable in addition to any other amounts due and owing under this License and in addition to without waiving any other rights or remedies available to the Judicial Council.
The Parties agree that such amounts represent a fair and reasonable estimate of the costs, expenses, and damages that the Judicial Council would incur by reason of a Failure to Operate.
For the purposes of determining Additional Interest upon the occurrence of an Event of Default for a Failure to Operate, it shall be deemed that the Additional Interest for such period where operations of the Facility had ceased would be equal to the highest annualized rate that Additional Interest accrued during the five (5) preceding calendar years or such shorter period of time as this Agreement is in force and effect.
The above is subject to the provisions of Section 5.3, Remedy for Franchisee's Failure to Operate a Riverboat Casino or Dockside Barge Casino.
Licensee further acknowledges that the exact amounts of such costs, expenses, and damages for Licensee’s Failure to Operate are extremely difficult to ascertain.

More Definitions of Failure to Operate

Failure to Operate means a reduction, change or cessation in Zellers’ operations at a Leased Property which, were it to continue, would give rise to a Landlord Recapture Right and which is not caused by a force majeure.

Failure to Operate means either: (a) both (x) failure to introduce a Licensed Product or a Revenue Product in the FOU within three (3) years from the Effective Date, subject to tolling in respect of regulatory delays outside of Licensee’s control, and (y) failure to form at least one revenue generating partnership in the FOU at least three (3) years from the Effective Date; or (b) a failure to continue to operate in the FOU for a period of more than one (1) year, subject to tolling in respect of regulatory delays outside of Licensee’s control, after both conditions set forth in Section 8.8(i)(a) are fully satisfied.

Failure to Operate. As defined in Article 16. Failure to Perform: As defined Article 16. Fair Market Added Value: The Fair Market Value of the Leased Property (including all Capital Additions) minus the Fair Market Value of the Leased Property determined as if no Capital Additions paid for by Lessee had been constructed. Fair Market Value of the Capital Addition: The amount by which the Fair Market Value of the Leased Property upon the completion of a particular Capital Addition exceeds the Fair Market Value of the Leased Property just prior to the construction of the particular Capital Addition. Fair Market Value of the Leased Property: The fair market value of the Leased Property, including all Capital Additions, and including the Land and all other portions of the Leased Property, and (a) assuming the same is unencumbered by this Lease, (b) determined in accordance with the appraisal procedures set forth in Section 18 or in such other manner as shall be mutually acceptable to Lessor and Lessee and (c) not taking into account any reduction in value resulting from any Lien to which the Leased Property is subject and which Lien Lessee or Lessor is otherwise required to remove at or prior to closing of the transaction. However, the positive or negative effect on the value of the Leased Property attributable to the interest rate, amortization schedule, maturity date, prepayment provisions and other terms and conditions of any Lien on the Leased Property which is not so required or agreed to be removed shall be taken into account in determining the Fair Market Value of the Leased Property. The Fair Market Value shall be determined as the overall value based on due consideration of the "income" approach, the "comparable sales" approach, and the "replacement cost" approach. Fee Mortgage: As defined in Section ?0. i. Fee Mortgagee: As defined in Section ?0.3. Financing Party: Any Person who is or may be participating with Lessor in any way in connection with the financing of any Capital Addition. Financing Statements: Uniform Commercial Code financing statements evidencing the security interests granted to Lessor in connection with the Lease Documents. Fiscal Quarter: Each of the three (3) month periods commencing on January 1st, April 1st, July 1st and October 1st. Fiscal Year: The twelve ( 12) month period from January 1 st to December 31st. Fixtures: As defined in Article I. 8

Failure to Operate. As defined in Section 10.

Failure to Operate has the meaning set forth in Section 8.8.

Failure to Operate means a failure of Licensee, an Authorized Sublicensee and their Affiliates, following commercial launch of a Licensed Product or Revenue Product, to sell or offer for sale at least one Licensed Product or Revenue Product in the Exclusive Field of Use for a period of at least one (1) year, subject to tolling in respect of regulatory barriers to sale outside of Licensee’ s control.