Remaining Owner definition

Remaining Owner has the meaning given to such term in Section 9.03.
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Examples of Remaining Owner in a sentence

  • The Owners shall enter into such documentation as the Remaining Owner shall reasonably request to document the purchase and sale of the Ownership Interest (and Capacity Share) of the other Owner, provided that the purchase price of the Ownership Interest (and Capacity Share) of the other Owner shall be equal to the other Owner’s pro rata share (based on its Ownership Interest) of the depreciated cost of the applicable Transmission Facilities.

  • In order to exercise its option to purchase all of the Ownership Interest (and Capacity Share) of the other Owner in the Transmission Facilities, the Remaining Owner must give written notice thereof to the other Owner within ninety (90) days of receipt of the other Owner’s Decommissioning Notice.

  • If this option is selected, then Final Remaining Owner shall purchase all of the interests of the Departing Owner and Declining Remaining Owner in the Property.

  • In order to exercise its option to purchase all of the Ownership Interest(s) (and associated Directional Capacity Allocation Percentage(s) and Directional Capacity Allocation(s)) of the other Owner in such Retired Transmission Facilities, the Remaining Owner must give written notice thereof to the other Owner within ninety (90) days of receipt of the other Owner’s Decommissioning Notice.

  • The Remaining Owner receiving such a notice (“Final Remaining Owner”) shall then have the option of: o Taking no action with regard to Declining Remaining Owner’s notice, in which event each Remaining Owner will purchase its pro rata share of Departing Owner’s interest as otherwise provided; or o By written notice to all other owners, electing not to purchase the interests of either the Departing Owner or the Declining Remaining Owner.

  • If the other Owner desires to continue the operation of such Retired Transmission Facilities (the “Remaining Owner”), then the Remaining Owner shall have the option to purchase all of the Ownership Interest(s) (and associated Directional Capacity Allocation Percentage(s) and Directional Capacity Allocation(s)), if any, of the other Owner in such Retired Transmission Facilities.

  • In the event that a Remaining Owner (“Declining Remaining Owner”) would prefer to not purchase the pro rata share of the Departing Owner’s interest, it may, within sixty (60) days of determination of the sales price of Departing Owner’s interest, notify the other owners of this fact in writing.

  • If the Remaining Owner seeks to purchase and continue the operation of the Transmission Facilities, then, at the Remaining Owner’s request and expense, the other Owner and the Operator (if the Remaining Owner is not the Operator) will, for a reasonable period of time, cooperate with and use Commercially Reasonable Efforts to assist the Remaining Owner in the continued operation of the Transmission Facilities.

  • However, if less than all of the said Remaining Owners exercise the Death Option, then the Interests covered by the Death Option over which the Death Option is not exercised may be exercised in similar proportions by the said Remaining Owner(s) who purchase Interests pursuant to this Section 2.01(a), it being understood that only one (1) Remaining Owner may wind up exercising a Death Option for up to all of the Interests of the Deceased Owner and his Spouse.

  • If more than one Remaining Owner exercises the Right of First Refusal, each Remaining Owner exercising the Right of First Refusal (“Remaining Owner Transferee”) shall be entitled to consummate the Transfer of such portion of the Interest or control as is equal to the Selling Owner’s Pro Rata Share multiplied by a fraction, the numerator of which is the Pro Rata Share of such Remaining Owner Transferee, and denominator of which is the sum of the Pro Rata Shares of all of the Remaining Owner Transferees.

Related to Remaining Owner

  • Existing Owner means (a) with respect to and for the purpose of dealing with the Auction Agent in connection with an Auction, a Person who is a Broker-Dealer listed in the Existing Owner Registry at the close of business on the Business Day immediately preceding the Auction Date for such Auction and (b) with respect to and for the purpose of dealing with the Broker-Dealers in connection with an Auction, a Person who is a beneficial owner of Auction Rate Notes.

  • Managing Owner as used only in this Section 4.7 shall include, in addition to the Managing Owner, any other Covered Person performing services on behalf of the Trust and acting within the scope of the Managing Owner’s authority as set forth in this Trust Agreement.

  • Qualifying Owners means GIP and its Subsidiaries.

  • Building Owner means an owner of land who is desirous of exercising rights under this Act;

  • Remaining Members has the meaning set forth in Section 11.2.

  • Tendering Partner shall have the meaning set forth in Section 8.6.A.

  • Redeeming Partner has the meaning set forth in Section 8.6.A.

  • Subscription Period means the duration of Customer’s authorized use of the Subscription Services as designated in the Order.

  • Trading Partner means an entity that has registered with the Commission to exchange data through Electronic Data Interchange.

  • Participating Class Member means a Class Member who does not submit a valid and timely Request for Exclusion from the Settlement.

  • the Fund means moneys made available from time to time by the Secretary of State for the benefit of persons eligible for payment in accordance with the provisions of a scheme established by him on 24th April 1992 or, in Scotland, on 10th April 1992;

  • Redeeming Member has the meaning set forth in Section 11.01(a).

  • Participating Entity Any Subcontractor or Subservicer which is “participating in the servicing function” within the meaning of Item 1122 of Regulation AB; provided, further, for the purposes of the third paragraph of Section 7.04(c), that a “Participating Entity” shall be determined without respect to any threshold limitations in Instruction 2. to Item 1122 of Regulation AB. Person: Any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof.

  • Non-Participating Class Member means any Class Member who opts out of the Settlement by sending the Administrator a valid and timely Request for Exclusion.

  • Selling Member has the meaning set forth in Section 10.5(a).

  • Controlling ownership interest means ownership of or entitlement to more than twenty-five percent of shares or capital or profits of the company;

  • Interest Holder means any Person who holds an Interest, whether as a Member or as an unadmitted assignee of a Member.

  • Redemption Period shall have the meaning set forth in Section 23(a) hereof.

  • Offeree means an individual to whom the Committee has offered the right to acquire Shares under the Plan (other than upon exercise of an Option).

  • Initial Subscription Term the initial term of Your Subscription as agreed in the Order which commences on the date of acceptance of the Order or as otherwise agreed to by the parties.

  • Election Period shall have the meaning set forth in Section 14.3(a).

  • Dating partner means any person involved in an intimate association with another individual that is primarily characterized by the expectation of affectionate involvement, whether casual, serious, or long-term.

  • Working interest owner means a person or the estate of a person who owns an interest in oil and/or gas in the unit area by virtue of a lease, operating agreement, fee title, or otherwise, including a carried interest, the owner of which is obligated to pay, either in cash or out of production or otherwise a portion of the unit expense. “Working interest owner” does not include an unleased mineral owner.

  • Participating member means an eligible employee who elects to participate in the defined contribution retirement plan established under this chapter.

  • Trading Member means a Person who has been approved by Nadex to trade directly and not through a FCM Member on the Market, and does not include any FCM Member.

  • Authorized Participant means a Person that, at the time of submitting a Purchase Order or a Redemption Order (i) is a registered broker-dealer, (ii) is a DTC Participant or an Indirect Participant and (iii) has in effect a valid Authorized Participant Agreement.