Termination by Facility Owner Sample Clauses

Termination by Facility Owner. Facility Owner shall be permitted to terminate these Operations Provisions upon written notice if any of the following events occur: (a) bankruptcy or insolvency of the Facility Operator; (b) payment default by Facility Operator that is not cured within sixty (60) Business Days of notice from Facility Owner that such payment is due; (c) failure by Facility Operator to perform any of its duties, responsibilities and obligations under these Operations Provisions after notice by Facility Owner, provided Facility Operator shall have up to 30 days after such notice was given to cure such default or make substantial progress towards curing such default, and provided further that this subsection (c) shall not apply in the case of a termination by Facility Owner under subsections (d) or (e) hereof; (d) for the period commencing January 1, 2009 and ending June 30, 2009, (i) actual Adjusted O&M Costs exceed the budgeted Adjusted O&M Costs for such period as set forth in the 2009 Annual Budget or (ii) the actual output of the Power Facility (measured in megawatt hours) is less than the projected output of the Power Facility provided for such period in the 2009 Annual Budget, in which case, unless the occurrence of either subsection “i” or “ii” hereof is attributable to an event or cause beyond the reasonable control of Facility Operator, Facility Owner may terminate the Operations Provisions effective August 31, 2009, provided that Facility Owner shall provide notice to Facility Operator of its intent to terminate the Operations Provisions under this subsection (d) not later than July 31, 2009; and (e) with respect to any Lease Year, (i) actual Adjusted O&M Costs exceeds the projected Adjusted O&M Costs as set forth in the Annual Budget for such Lease Year or (ii) the actual output of the Power Facility (measured in megawatt hours) is less than the projected output of the Power Facility provided for such Lease Year in the Annual Budget for such Lease Year, in which case, unless the occurrence of either subsection “i” or “ii” hereof is attributable to an event or cause beyond the reasonable control of Facility Operator, Facility Owner may terminate the Operations Provisions effective February 28 of the following Lease Year, provided that Facility Owner shall provide notice to Facility Operator of its intent to terminate the Operations Provisions under this subsection (e) not later than January 31 of the following Lease Year. A termination of these Operations Provision...
Sample 1
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Termination by Facility Owner. Facility Owner shall be permitted to terminate these Operations Provisions upon written notice if any of the following events occur: (a) bankruptcy or insolvency of the Facility Operator; (b) payment default by Facility Operator that is not cured within sixty (60) Business Days of notice from Facility Owner that such payment is due; (c) failure by Facility Operator to perform any of its duties, responsibilities and obligations under these Operations Provisions after notice by Facility Owner, provided Facility Operator shall have up to 30 days after such notice was given to cure such default or make substantial progress towards curing such default. A termination of these Operations Provisions under this Section 11.1 shall not terminate the Lease. A default by Landlord under the Lease is governed by Section 19 of the Lease.
Sample 1

Related to Termination by Facility Owner

  • Termination by Owner Owner may also terminate this Agreement at any time before Contractor begins the Work and notifies Owner in writing of such commencement if (1) Owner sells the property on which the Work is being performed or (2) the economic climate does not warrant proceeding with the project of which the Work is a part. In such circumstance, Contractor shall be entitled to receive that portion of the Contract Price earned by Contractor for Work performed to the satisfaction of Owner less any payments made before the date this Agreement is terminated. Contractor shall not be entitled to any additional compensation or damages as a result of termination of this Agreement pursuant to this Paragraph 12(c).

  • Termination by Contractor If Owner shall at any time: (i) fail to pay any undisputed amount; (ii) fail to materially comply with any of its material obligations under this Agreement (but only to the extent such material failure and the impact thereof is not subject to adjustment by Change Order as set forth in Section 6.2); or (iii) experience an Insolvency Event (each of the foregoing being an “Owner Default”) then, Contractor has the right (without prejudice to any other rights under the Agreement) to provide written notice to Owner specifying the nature of the Owner Default and demanding that such Owner Default be cured. If: (a) with respect to clause (i) Owner fails to cure such Owner Default within thirty (30) Days after receipt of such notice; (b) with respect to clause (ii), (1) Owner fails to cure such Owner Default within forty-five (45) Days after receipt of such notice or, (2) if the Owner Default cannot be cured within such forty five (45) Day period through the diligent exercise of all commercially practicable efforts, Owner fails to diligently exercise all commercially practicable efforts to cure such condition or fails to cure such condition within ninety (90) Days after receipt of such notice to cure such Owner Default; or (c) Owner experiences an Insolvency Event, Contractor may, in the event of (a), (b) or (c), at its sole option and without prejudice to any other rights that it has under this Agreement, and upon notice to Owner, terminate this Agreement. In the event of such termination under this Section 16.5, Contractor shall have the rights (and Owner shall make the payments) provided for in Section 16.2 in the event of an Owner termination for convenience.

  • Termination by Tenant In the event that the destruction to the Premises cannot be restored as required herein under applicable laws and regulations within two hundred seventy (270) days of the damage or casualty, notwithstanding the availability of insurance proceeds, Tenant shall have the right to terminate this Lease by giving the Landlord notice thereof within thirty (30) days of date of the occurrence of such casualty specifying the date of termination which shall not be less than thirty (30) days nor more than sixty (60) days following the date on which such notice of termination is given. In the event of the giving of such notice of termination, this Lease shall expire and all interest of Tenant in the Premises shall terminate on the date so specified in such notice and the Rent, reduced by any proportionate reduction in Rent as provided for in Section 18.1 above, shall be paid to the date of such termination.

  • Termination by Lessor Lessor may terminate the lease at any time if any of the following shall happen:

  • Termination by Bank If the Bank, or its successor in interest by merger, or its transferee in the event of a purchase in an assumption transaction (for reasons other than Executive's death, disability, or Cause) (1) terminates Executive's employment within one year following a Change in Control (as defined below), or (2) terminates Executive's employment before the Change in Control but on or after the date that any party either announces or is required by law to announce any prospective Change in Control transaction and a Change in Control occurs within six months after the termination, the Bank will provide Executive with the payment and benefits described in Section 9(d)(3) below.

  • Termination by Lenders In addition to the rights set forth in Section 10.2, Agent may, and at the direction of Required Lenders shall, terminate this Agreement without notice upon or after the occurrence and during the continuance of an Event of Default.

  • Termination by Seller This Agreement may be terminated by Seller and the purchase and sale of the Station abandoned, if Seller is not then in material default, upon written notice to Buyer, upon the occurrence of any of the following:

  • Termination by Parent This Agreement may be terminated and the Merger may be abandoned at any time prior to the Effective Time by Parent if:

  • Termination by Customer Customer may terminate this Agreement:

  • Termination by Either Party This Agreement may be terminated upon 60 days written notice without cause or penalty by either the Company (acting through the Conflicts Committee) or the Advisor. The provisions of Articles 1, 10, 12, 13, 15 and 16 shall survive termination of this Agreement.

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