Shutdown Activities definition
Examples of Shutdown Activities in a sentence
Sellers shall be entitled reasonable access to the Purchased Equipment and Buyer’s employees, contractors and agents, and Buyer shall provide such information as Sellers may reasonably request, to audit the performance of the Shutdown Activities by Buyer or its advisors, consultants or contractors.
The Company ceased refining operations at the Refinery on or about April 23, 2013 pursuant to which the Company shut down those processing units of the Refinery set forth in Section 6.1(a) of the Disclosure Schedules including ceasing long-term capital improvement and replacement projects and ceasing routine maintenance and routine preventive maintenance activities necessary for ongoing refining operations (collectively, the "Refinery Shutdown Activities").
The above provisions shall also apply if a change in the Manufacturing Requirements becomes necessary in order to allow Patheon to guarantee the performance of the activities in accordance with the cGMPs or to comply with new provisions of applicable laws or orders of relevant regulatory or governmental authorities, or the MA if such fees are not the result, directly or indirectly, of Shutdown Activities.
Buyer acknowledges and agrees that the Sellers shall have no Liability for any Losses incurred by the Business, the Purchased Assets or any Buyer Party as a result of a failure by Buyer (or any advisor, consultant or contractor of Buyer which assists with or conducts the Shutdown Activities) to take any actions after the Exit Date necessary to perform the Shutdown Activities in accordance with this Section 5.2(b).