Qualifying Shutdown Event definition

Qualifying Shutdown Event. Required Authorisation" and "Specific Change in Law";
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Qualifying Shutdown Event means a Change in Law which comprises:
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Qualifying Shutdown Event is where the Government or a governmental authority permanently prevents the whole of the Facility from operating or refuses to give approval, for a period exceeding twenty-four (24) months, to a request to re-start No. Subject Terms operations at the Facility. There are certain exceptions to this definition, namely where the shutdown event: (a) occurs because the Government/a governmental authority was required to act in this way under European or International law, provided that the Government/a governmental authority used reasonable endeavours to try to oppose and prevent the adoption of that law; (b) was for reasons relating to health, safety, security, environment, transport, or damage to the property in relation to the (i) Facility, (ii) the Producer, (iii) the site of the Facility, (iv) the management of the Facility, the Producer, or the site, or (v) (in conjunction with at least one of the other parts of this paragraph (b)) the production of hydrogen using the same production technology as the Facility; (c) arose as a result of the negligence, breach or fault of, or a failure to act in accordance with the reasonable and prudent standard by the Producer or any of its representatives; and (d) relates to any decision of the European Commission or any other competent authority on the application of the subsidy control rules to the LCHA. A Qualifying Shutdown Event that occurs on or after the Start Date will constitute a QCiL Operations Cessation Event under the LCHA (see item 5.2 (QCiL Compensation)), consistent with the position under the AR4 CfD and the CCUS Programme Contracts.
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Examples of Qualifying Shutdown Event in a sentence

  • The Qualifying Shutdown Event protections include the right to transfer NNBG to the UK Government (and for the UK Government to call for transfer) in addition to the payment of compensation by the CfD Counterparty or the UK Government.

  • This indemnity shall not apply in respect of any such costs resulting from the DPA Counterparty disputing that a Qualifying Change in Law or Qualifying Shutdown Event has occurred if an agreement or determination is reached to the contrary.

  • NNBG will, subject to conditions, receive compensation in the event of a ‘political’ shutdown of HPC (by either a UK, EU or international competent authority) other than for certain reasons including health, nuclear safety, security, environmental, nuclear transport or nuclear safeguards (Qualifying Shutdown Event).

  • NNBG will, subject to conditions, receive compensation in the event of a "political" shutdown of HPC (by either a UK, EU or international competent authority) other than for certain reasons including health, nuclear safety, security, environmental, nuclear transport or nuclear safeguards (Qualifying Shutdown Event).

  • This indemnity shall not apply in respect of any such costs resulting from the ICC Contract Counterparty disputing that a Qualifying Change in Law or Qualifying Shutdown Event has occurred if an agreement or determination is reached to the contrary.


More Definitions of Qualifying Shutdown Event

Qualifying Shutdown Event has the meaning given to that term in item 5.3 (Qualifying Shutdown Events). Qualifying Volumes has the meaning given to that term in item 4.2 (Qualifying Volumes, Non-Qualifying Volumes and RTFO Volumes). Reference Price for Non-Qualifying Volumes has the meaning given to that term in item 4.44.6 (Reference PricePrices).
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Qualifying Shutdown Event. “Required Authorisation” and “Specific Change in Law”; Conditions 28.2(A), 30.1(E), 31.13, 36.1, 48.2 and 50.1; and
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Related to Qualifying Shutdown Event

  • Qualifying Transaction means a transaction where a CPC acquires Significant Assets, other than cash, by way of purchase, amalgamation, merger or arrangement with another Company or by other means.

  • Additional Disruption Event means any of Change in Law, Hedging Disruption and/or Increased Cost of Hedging.

  • Delay Event means any event set out at Clause 5.19.4 [Delay Events].

  • Severe Disruption Event means any event specified as such in the Final Terms.

  • FX Disruption Event ' means the occurrence of any event on any day or any number of consecutive days as determined by the Calculation Agent in its sole and reasonable discretion that affects the Issuer’s currency hedging (if any) with respect to the Products.

  • Notification Event means (a) the occurrence of a “reportable event” described in Section 4043 of ERISA for which the 30-day notice requirement has not been waived by applicable regulations issued by the PBGC, (b) the withdrawal of any Loan Party or ERISA Affiliate from a Pension Plan during a plan year in which it was a “substantial employer” as defined in Section 4001(a)(2) of ERISA, (c) the termination of a Pension Plan, the filing of a notice of intent to terminate a Pension Plan or the treatment of a Pension Plan amendment as a termination, under Section 4041 of ERISA, if the plan assets are not sufficient to pay all plan liabilities, (d) the institution of proceedings to terminate, or the appointment of a trustee with respect to, any Pension Plan by the PBGC or any Pension Plan or Multiemployer Plan administrator, (e) any other event or condition that would constitute grounds under Section 4042(a) of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan, (f) the imposition of a Lien pursuant to the IRC or ERISA in connection with any Employee Benefit Plan or the existence of any facts or circumstances that could reasonably be expected to result in the imposition of a Lien, (g) the partial or complete withdrawal of any Loan Party or ERISA Affiliate from a Multiemployer Plan (other than any withdrawal that would not constitute an Event of Default under Section 8.12), (h) any event or condition that results in the reorganization or insolvency of a Multiemployer Plan under Sections of ERISA, (i) any event or condition that results in the termination of a Multiemployer Plan under Section 4041A of ERISA or the institution by the PBGC of proceedings to terminate or to appoint a trustee to administer a Multiemployer Plan under ERISA, (j) any Pension Plan being in “at risk status” within the meaning of IRC Section 430(i), (k) any Multiemployer Plan being in “endangered status” or “critical status” within the meaning of IRC Section 432(b) or the determination that any Multiemployer Plan is or is expected to be insolvent or in reorganization within the meaning of Title IV of ERISA, (l) with respect to any Pension Plan, any Loan Party or ERISA Affiliate incurring a substantial cessation of operations within the meaning of ERISA Section 4062(e), (m) an “accumulated funding deficiency” within the meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA) or the failure of any Pension Plan or Multiemployer Plan to meet the minimum funding standards within the meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA), in each case, whether or not waived, (n) the filing of an application for a waiver of the minimum funding standards within the meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA) with respect to any Pension Plan or Multiemployer Plan, (o) the failure to make by its due date a required payment or contribution with respect to any Pension Plan or Multiemployer Plan, (p) any event that results in or could reasonably be expected to result in a liability by a Loan Party pursuant to Title I of ERISA or the excise tax provisions of the IRC relating to Employee Benefit Plans or any event that results in or could reasonably be expected to result in a liability to any Loan Party or ERISA Affiliate pursuant to Title IV of ERISA or Section 401(a)(29) of the IRC, or (q) any of the foregoing is reasonably likely to occur in the following 30 days.

  • Potential Termination Event means an event which, with the giving of notice and/or the lapse of time, would constitute a Termination Event.

  • TLAC Disqualification Event means OSFI has advised the Bank in writing that the bail-inable notes issued under the applicable pricing supplement will no longer be recognized in full as TLAC under the TLAC Guideline as interpreted by the Superintendent, provided that a TLAC Disqualification Event will not occur where the exclusion of those bail-inable notes from the Bank’s TLAC requirements is due to the remaining maturity of those bail-inable notes being less than any period prescribed by any relevant eligibility criteria applicable as of the issue date of those bail-inable notes.

  • Settlement Disruption Event means each of the following events, as determined by the Calculation Agent in its sole discretion acting in good faith and in a commercially reasonable manner:

  • Barrier Event means that R (final) is lower than the Barrier.

  • Put Event means the occurrence of any of the following:

  • MREL Disqualification Event means that, at any time, all or part of the outstanding nominal amount of Securities is or will be excluded fully or partially from the eligible liabilities available to meet the MREL Requirements provided that: (a) the exclusion of a Series of such Securities from the MREL Requirements due to the remaining maturity of such Securities being less than any period prescribed thereunder, does not constitute a MREL Disqualification Event; (b) the exclusion of all or some of a Series of Securities due to there being insufficient headroom for such Securities within a prescribed exception to the otherwise applicable general requirements for eligible liabilities does not constitute a MREL Disqualification Event; and (c) the exclusion of all or some of a Series of Securities as a result of such Securities being purchased by or on behalf of the Issuer or as a result of a purchase which is funded directly or indirectly by the Issuer, does not constitute a MREL Disqualification Event.

  • Change of Control Triggering Event means the occurrence of both a Change of Control and a Rating Event.

  • Purchase and Sale Termination Event has the meaning set forth in Section 8.1 of the Sale Agreement.

  • Disruption Event means either or both of: