South Point definition
Examples of South Point in a sentence
The “Cash Out Price” for each applicable Super System (or single System that is not part of a Super System) will be the average daily index price, during the month in which the applicable Imbalance occurs, for Dominion South Point in the section “Prices of Spot Gas delivered to Pipelines” as published in Inside FERC’s Gas Market Report, as adjusted as set forth below.
The Facility Lessee shall not assign any of its rights or obligations except as permitted by the Operative Documents and the South Point Ground Lease.
The Facility Lessee shall not use, or permit to be used, the Facility Site for any purpose other than for the operation and maintenance of the Facility, except as otherwise required or permitted under the Operative Documents and/or the South Point Ground Lease.
The Facility and the Facility Site have available all services of public utilities necessary for use and operation of the Facility as currently being used and as contemplated by the applicable Operative Documents and the South Point Ground Lease, except where the failure to have any such services or public utilities available would not result in a material adverse effect with respect to the Facility.
At the option of each Beneficiary and upon notice to the Guarantor, the Guarantor may be joined in any action or proceeding commenced by such Beneficiary against the South Point Lessee in respect of any Obligations and recovery may be had against the Guarantor in such action or proceeding or in any independent action or proceeding against the Guarantor, without any requirement such Beneficiary first assert, prosecute or exhaust any remedy or claim against the South Point Lessee.
All conditions required to have been satisfied by on or before the Closing Date under the Operative Documents and the South Point Ground Lease shall have been satisfied or waived and the Owner Participant shall be satisfied that the Facility shall be in the condition described in the Closing Appraisal.
The parties hereto agree that the transfer or assignment pursuant to the terms of the LLC Agreement by the Owner Lessor to a successor Owner Lessor, will not violate the terms of any Operative Document or the South Point Ground Lease.
Notwithstanding the foregoing, the Facility Lessee may elect to extend the South Point Ground Lease pursuant to Section 4.2 thereof and exercise the Owner Lessor's rights under such Section only if, concurrently with such election, the Facility Lessee also elects to extend the South Point Ground Lease with respect to the Other South Point Owner Lessors on the same terms and conditions negotiated for the Owner Lessor giving effect to their respective percentage interests in the South Point Ground Lease.
Other than as permitted by the Operative Documents, each of the Lessor Manager and the Owner Lessor covenants that it will not assign, pledge, sell, lease, convey or otherwise transfer any of its then existing right, title or interest in and to the Owner Lessor's Interest, the Lessor Estate or the other Operative Documents or the South Point Ground Lease.
Anything herein to the contrary notwithstanding, any exercise of rights or remedies by any Beneficiary hereunder or under any other Operative Document or the South Point Ground Lease, or the failure of any Beneficiary to exercise any rights or remedies hereunder in accordance with the provisions hereof or under any other Operative Document or the South Point Ground Lease, shall not in any way adversely affect the ability of any other Beneficiary to exercise its rights or remedies hereunder.