Operating Easement definition

Operating Easement means with respect to the Purchased Assets the easements to be granted or reserved by the Parties as contemplated by the ASA and the Separation Document.
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Operating Easement means the operating easement providing the right to continue operating and maintaining certain distribution facilities at the substations, which will be prepared as described in the Continuing Site/Interconnection Agreement.
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Operating Easement has the meaning set forth in Section 6.1.7(a) hereof.
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Examples of Operating Easement in a sentence

  • The Operating Easement must be prepared prior to the Closing Date.

  • Both Parties shall provide keys, access codes, or other access methods necessary to enter each other's facilities for purposes of exercising rights under the Operating Easement.

  • The Parties hereby agree to provide each other access to facilities, proper­ties, equipment, and records and to grant or reserve the ease­ments comprising the Operating Easement as may be necessary and convenient to enable each other to maintain their respective facilities, equipment, and property in a manner consistent with Good Utility Practices, or to defend themselves in any litigation relating to the T&D System, the Purchased Assets or the Excluded Assets.

  • Without limiting the generality of Section 3.2.1, Seller shall have access to all of its substation, tele­communication, transmission, or distribution systems, equipment and Secondary Systems and facilities located on the Purchased Assets, and Buyer shall have access to all of its equipment and property located on the Excluded Assets, according to the terms and conditions of the Operating Easement.

  • Each Party shall maintain, at its own expense, the roadways, property, equipment, and facilities and access to said facilities that it owns that are subject to this Agreement and the Operating Easement pursuant to Good Utility Practices.

  • If such documentation has not been agreed upon by Seller and Buyer within said six month period, those aspects of the Operating Easement which remain in dispute shall be resolved as provided in Article 13.

  • The easements comprising the Operating Easement granted to Seller by Buyer and by Buyer to Seller are intended to be of a permanent nature and shall not be revoked by the grantor, nor shall the grantor take any action that would impede, restrict, diminish, or terminate the rights of access or use granted by the Operating Easement.

  • During the six months following the execution of this Agreement, Buyer and Seller shall cooperate in the development of documentation necessary to prepare and record the Operating Easement.

  • The Parties hereby agree to provide each other access to facilities, properties, equipment, and records and to grant or reserve the easements comprising the Operating Easement as may be necessary and convenient to enable each other to maintain their respective facilities, equipment, and property in a manner consistent with Good Utility Practices, or to defend themselves in any litigation relating to the T&D System, the Purchased Assets or the Excluded Assets.

  • If such documentation has not been agreed upon by Xxxxxx and Xxxxx within said six month period, those aspects of the Operating Easement which remain in dispute shall be resolved as provided in Article 13.

Related to Operating Easement

  • Utility easement means a right held by a facility operator to install, maintain, and access an underground facility or pipeline.

  • Conservation easement means that term as defined in section 2140 of the natural resources and environmental protection act, 1994 PA 451, MCL 324.2140.

  • Easement Agreement means any conditions, covenants and restrictions, easements, declarations, licenses and other agreements which are Permitted Encumbrances and such other agreements as may be granted in accordance with Section 19.1.

  • Easement Area means the area of the servient lot marked on the survey-strata plan as being subject to the relevant easement; and

  • Leasehold condominium means a condominium in which all or a portion of the real estate is subject to a lease the expiration or termination of which will terminate the condominium or reduce its size.

  • Easement means an acquired legal right for the specific use of land owned by others.

  • Operating Area means those areas on-shore in India in which company or its affiliated company may from time to time be entitled to execute such services/operations.

  • Condominium Declaration means the Declaration of Condominium for NetApp RTP Phase I Condominium recorded in Book 012647, Page 01310, Wake County, North Carolina Registry.

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Co-op Lease With respect to a Co-op Loan, the lease with respect to a dwelling unit occupied by the Mortgagor and relating to the stock allocated to the related dwelling unit.

  • Operating Entity means an entity that operates and controls a portion of the bulk transmission system with the goal of ensuring reliable energy interchange between generators, loads, and other operating entities.

  • Operating Envelope means the limits on the Company's approved operations set out in Conditions 2.3 to 2.7 of this

  • Condominium unit A Single Family Property within a Condominium Project.

  • Parcel 2 A NON-EXCLUISVE EASEMENT FOR INGRESS AND EGRESS OVER LOT 11 OF RENWICK PLAXX, XXXXX X XXXXXXXXXXX XX PART OF THE NORTHWEST 1/4 OF SECTION 22, TOWNSHIP 36 NORTH, RANGE 9, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEROF RECORDED AUGUST 14, 1998, AS DOCUMENT NUMBER R98-094653, AND OVER LOT 15 IN THE RESUBDIVISON OF LOT 8 OR RENWICK PLACE, BEING A XXXXXXIVISION OF PART OF THE NORTHWEST 1/4 OF SECTION 22, TOWNSHIP 36 NORTH, RANGE 9, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT OF SAID RESUBDIVISION RECORDED DECEMBER 29, 1999, AS DOCUMENT R99-157784, IN WILL COUNTY, ILLINOIS. PARCEL 3: A NON-EXCLUSIVE EASEMENT FOR PARKING OVER ALL LOTS CONTAINED IN RENWICK PLACE, BEING A SXXXXXXXION OF PART OF THE NORTHWEST 1/4 OF SECTION 22, TOWNSHIP 36 NORTH, RANGE 9, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED AUGUST 14, 1998, AS DOCUMENT NUMBER R98-094653, AND THE RESUBDIVISION OF LOT 8 OF RENWICK PLACX, XXXXX X XXXXXXXXXXXXX OF PART OF THE NORTHWEST 1/4 OF SESCTION 22, TOWNSHIP 36 NORTH, RANGE 9, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT OF SAID RESUBDIVISION RECORDED DECEMBER 29, 1999, AS DOCUMENT R99-157784, IN WILL COUNTY, ILLINOIS, AND AMENDED BY AMENDEMENT TO THE EASEMENTS OF RENWICK PLACE, AND THE XXXXX AND PROVISIONS CONTAINED THEREIN, RECORDED NOVEMBER 25, 1998 AS DOCUMENT R98-141755.

  • Condominium Project Real estate including the separate ownership in fee, or on a satisfactory leasehold estate, of a particular residential unit with an indivisible interest in the real estate designated for common ownership strictly by unit owners.

  • Operating Partnership Agreement means the Fifth Amended and Restated Agreement of Limited Partnership of the Operating Partnership, as it may be amended, supplemented or restated from time to time.

  • Lease Agreement means the bargain, with respect to the lease, of the lessor and the lessee in fact as found in their language or by implication from other circumstances including course of dealing or usage of trade or course of performance as provided in this article. Unless the context clearly indicates otherwise, the term includes a sublease agreement.

  • PJM Operating Agreement means the Amended and Restated Operating Agreement of PJM or the successor, superseding or amended versions of the Amended and Restated Operating Agreement that may take effect from time to time.

  • adjacent land means all land that borders a property and all land that would have bordered a property, if they were not separated by a river, road, railway line, power transmission line, pipeline, or a similar feature;

  • Operating Entities means, from time to time, the Persons in which the Holding Entities, directly or indirectly, hold interests and that (i) directly hold real estate assets, or (ii) indirectly hold real estate assets but all of the interests of which are not held, directly or indirectly, by the Holding Entities, other than, in the case of each of (i) and (ii), any Person in which the Holding Entities, directly or indirectly, hold interests for investment purposes only of less than 5% of the outstanding equity securities of that Person;

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Redevelopment Agreement means an agreement between the

  • Residential rental property means property that is used solely as leased or rented property for residential purposes. If the property is a space rental mobile home park, residential rental property includes the rental space that is leased or rented by the owner of that rental space but does not include the mobile home or recreational vehicle that serves as the actual dwelling if the dwelling is owned and occupied by the tenant of the rental space and not by the owner of the rental space.

  • Garage shall have the meaning ascribed to it in Recital H;

  • Property Management Agreement means any Property Management Agreement between the Company and the Property Manager.