Unfinished Projects definition
Examples of Unfinished Projects in a sentence
Within thirty (30) days prior to the expiration of this Agreement, if either party believes that it will be necessary for the Agreement to be extended to permit the performance or completion of any Unfinished Projects, such party shall give written notice thereof to the other party specifying the Unfinished Projects, the obligations thereunder that remain to be completed, and an estimate of the amount of time required for such completion.
Following such notice, the term of the Agreement shall be extended with respect to the Unfinished Project(s) identified therein to the extent necessary to complete the remaining unsatisfied obligations within the estimated time frame specified in such notice, unless within ten (10) days after receipt of such notice the recipient sends a written response to the other party noting any exceptions that it may have to the scope or term of the Unfinished Project.
The applicable Project shall satisfy the In-Balance Test if, as of such date, the Project Sources exceed the Project Uses for such Project (and for all other Unfinished Projects) for the Project Period for such Project.
Seller shall have the right to terminate this Agreement if, within one hundred twenty (120) days after the Effective Date, Seller has not received a commitment letter from a financing entity acceptable to Seller for the provision of non-recourse financing for the construction and operation of the Project on terms acceptable to Seller in its sole discretion, by providing notice to Buyer following the expiration of such 120-day period.