Commercial Close and Financial Close
Commercial Close and Financial Close Sample Clauses
Related to Commercial Close and Financial Close
Financial Close 23.1.1 The Concessionaire hereby agrees and undertakes that it shall achieve Financial Close within 180 (one hundred and eighty) days from the date of this Agreement and in the event of delay, it shall be entitled to a further period not exceeding 120 (one hundred and twenty) days, subject to payment of Damages to the Authority in a sum calculated at the rate of 0.2% (zero point two per cent) of the Performance Security for each day of delay, and for a further period not exceeding 80 (eighty) days, subject to payment of Damages at the rate specified in Clause 4.3; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 (one hundred and eighty) days shall be granted only to the extent of Damages so paid; provided further that no Damages shall be payable if such delay in Financial Close has occurred solely as a result of any default or delay by the Authority in procuring satisfaction of the Conditions Precedent specified in Clause 4.1.2 or due to Force Majeure. For the avoidance of doubt, the Damages payable hereunder by the Concessionaire shall be in addition to the Damages, if any, due and payable under the provisions of Clause 4.3.
Annual Close Down (i) The Employer may by two months’ notice in writing declare that the establishment, project or business shall observe a complete Christmas - New Year close down, such Employee shall be entitled to leave on a pro rata basis and such an Employee may be stood down for the duration of the close-down period, provided that any such Employee shall be paid for all public holidays occurring during the close-down period.
School Closing In the event that school is closed for any reason and the School District does not require employees to perform services, employees shall be compensated as follows:
School Closings In the event of any school closing, employees will report for duty only if so requested by an appropriate supervisor. Employees requested to report for duty will be compensated by receiving an alternative day off agreed upon with their supervisor. Employees not requested to report would be paid for up to five (5) days of school closing or such days will be made up if all other employees are required to make up such days.
School Closure The School shall make reasonable efforts to promptly notify the public, which may include notice to the Department of Education, of any circumstance requiring the closure of the School, including, but not limited to, a natural disaster, such as an earthquake, storm, tsunami, flood, or other weather-related event, other extraordinary emergency, or destruction of or damage to the School facility;
Closing The closing of the sale of the Mortgage Loans (the “Closing”) shall be held at the offices of special counsel to the Purchaser at 10:00 a.m., New York City time, on the Closing Date. The Closing shall be subject to each of the following conditions:
Christmas Closedown 15.1 It is agreed that whenever annual leave is taken in conjunction with the Christmas/New Year period (as per Calendar in sub-clause 2.11), it is to be taken in accordance with the following procedure.
Account Closure At any time, for any reason, we may take any of these actions subject to applicable law:
School Closures If school must be canceled, the school year shall be extended and vacations and in-service days and holidays not required by Statute may be utilized to meet State and District curriculum requirements. The district will consult with the President of the Association (s) before revising the calendar as required. Such time will be made up without additional pay. Any student school days waived by OSPI due to emergency school closure shall also be work days waived for certificated staff. There shall be no loss of pay in such an instance.
Closing Date The date and time of the issuance and sale of the Note pursuant to this Agreement (the “Closing Date”) shall be on or around May 7, 2019.
