Project Abandonment definition

Project Abandonment means the failure by the Nonprofit Entity to commence construction of the Project within three years of the execution of this Agreement, where no agreement exists between the Board and the Public Entity to extend such deadline. Commence construction shall mean the entering into of a contract with a general contractor for the Project and commencement of material work on the Project.
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Project Abandonment means (i) the failure by the Public Entity to commence construction of the Project within three years of the execution of this Agreement, where no agreement exists between the Board and the Public Entity to extend such deadline, or (ii) any sale by the Public Entity of a material
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Project Abandonment. If this Contract has been terminated prior to Firm Operation, Seller shall bear all costs associated with Nevada's Facilities that were incurred by Nevada prior to Contract termination plus all removal and/or abandonment costs Incurred by Nevada subsequent to contract termination. Seller's cost for the design, construction, and removal and/or abandonment of Nevada's Facilities shall be adjusted to Nevada's actual cost not of salvage value after Nevada's removal and/or abandonment efforts have been completed. If Seller's construction deposits exceed Nevada's actual cost, Nevada shall refund the excess deposits to Seller within sixty (60) days of the completion of Nevada's efforts. If Nevada's actual cost exceeded Seller's construction deposits, Nevada shall render a bill to Seller for the excess cost.
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Examples of Project Abandonment in a sentence

  • To the extent the District incurs such expenses (the “Abandonment Payment”), the Property Owner hereby freely and willingly agrees to pay a non-completion assessment (the “Non-Completion Assessment,” which, in the case of a Project Abandonment, will be treated the same as, and may also be referred to as, a “Final Assessment”).

  • The Property Owner understands and hereby acknowledges that in the event that the Property Owner begins the installation of the Qualifying Improvements identified in Exhibit C and subsequently decides not to complete such Qualifying Improvements in compliance with the Program rules and this Agreement (a “Project Abandonment”), the District may be obligated to pay the District’s expenses incurred prior to Project Abandonment.

  • If at any time prior to or following First Commercial Use, Buyer provides written notice to Seller of its election to abandon the Project ("Abandonment"), Seller shall have the option to re-acquire the Assets (the "Re-Acquired Assets") from Buyer upon entering into a bona fide agreement with an unaffiliated third party ("Third Party") under which a Third Party agrees to commercialize a Catarex Product.

  • This provision specifically applies to but is not limited to Paragraph 4, Project Abandonment, Delays, etc.

  • Upon Project Abandonment, the Property Owner agrees that the District will record an the Addendum, which will set forth the amount of the Abandonment Payment, the total principal amount of the Non-Completion Assessment, the annual payment schedule for the Non-Completion Assessment (the “Annual Non- Completion Assessment Schedule”) and the interest rate calculated as of the date of execution of the Addendum (the “Non-Completion Interest Rate”).