Adverse Regulatory Event Sample Clauses

Adverse Regulatory Event. In the event of an Adverse Regulatory Event arising from or in connection with this Agreement, Tenant and Manager shall work together in good faith to amend this Agreement to eliminate the impact of such Adverse Regulatory Effect. For purposes of this Agreement, the term “Adverse Regulatory Effect” means any time that a law, statute, ordinance, code, rule or regulation imposes upon Tenant (or could imposes upon Tenant in Tenant’s reasonable opinion), any material threat to either Landlord’s or Landlord’s Affiliate’s status as a “real estate investment trust” under the Code or to the treatment of amounts paid to Landlord as “rents from real property” under Section 856(d) of the Code. Each of Manager and Tenant shall inform the other of any Adverse Regulatory Event of which it is aware and which it believes likely to impair compliance of any of the Hotels with respect to the aforementioned sections of the Code.
Sample 1Sample 2Sample 3See All (19)
AutoNDA by SimpleDocs
Adverse Regulatory Event. (a) In the event of an Adverse Regulatory Event arising from or in connection with this Agreement, Owner and Manager shall work together in good faith to amend this Agreement to eliminate the impact of such Adverse Regulatory Event; provided, however, Manager shall have no obligation to materially reduce its rights or materially increase its obligation under this Agreement, all taken as a whole, or to bear any out-of-pocket costs or expenses under this Section 24.16. Manager shall not be liable if any such amendment, once operative, fails to have the desired result of eliminating the impact of an Adverse Regulatory Event.
Sample 1Sample 2Sample 3See All (10)
Adverse Regulatory Event. (a) In the event of an Adverse Regulatory Event arising from or in connection with this Agreement, SNH TRS and Manager shall work together in good faith to amend this Agreement to eliminate the impact of such Adverse Regulatory Event; provided, however, Manager shall have no obligation to materially reduce its rights or materially increase its obligations under this Agreement, all taken as a whole, or to bear any out-of-pocket costs or expenses under this Section 8.04. Manager shall not be liable if any such amendment, once operative, fails to have the desired result of eliminating the impact of an Adverse Regulatory Event.
Sample 1Sample 2Sample 3See All (6)
Adverse Regulatory Event. In the event of an Adverse Regulatory Event arising from or in connection with this Agreement or a REIT Party’s ownership of Company Shares, the Company and the Stockholders shall work together in good faith to eliminate the impact of such Adverse Regulatory Event, including entering into such amendments to this Agreement as may be necessary or appropriate or to permit such REIT Party to effect the Transfer of its Company Shares. For purposes of this Agreement, the term “Adverse Regulatory Event” means any time that an Applicable Law imposes upon a REIT Party (or could impose upon a REIT Party in its reasonable opinion) any material threat to such REIT Party’s or any of its Affiliates’ status as a “real estate investment trust” under the Code.
Sample 1Sample 2Sample 3
Adverse Regulatory Event. Notwithstanding any other provision of this Agreement to the contrary, an 'Adverse Regulatory Event' shall occur if: (a) any Co-Tenant's Turbines and other facilities shall cease to be a 'qualifying facility' under the Public Utility Regulatory Policies Act of 1978, as amended, and the regulations thereunder ('PURPA'), and such Co-Tenant shall not be, or shall cease to be, an 'exempt wholesale generator' under Section 32 of the Public Utility Holding Company Act of 1935, as amended, and the regulations thereunder ('PUHCA'), or (b) any Co-Tenant directly or indirectly causes any condition that would result in: (i) any other Co-Tenant's Turbines and related facilities losing their status as a 'qualifying facility' under PURPA unless such Co-Tenant is then an 'exempt wholesale generator'; (ii) any other Co-Tenant losing its status as an 'exempt wholesale generator' under PUHCA; or (iii) the Power Transfer System or any portion thereof becoming subject to regulation as an 'electric utility' or 'electric utility holding company' (as such terms are defined in PUHCA) or as a 'public utility' as defined in the Federal Power Act, as amended, other than as an 'exempt wholesale generator'. If an Adverse Regulatory Event occurs, the right of the Co-Tenant's owning the Turbines or other facility that causes such Adverse Regulatory Event (the "Impacted Facility") to use the Power Transfer System to deliver electricity generated by the Impacted Facility shall be suspended immediately, no such electricity shall be delivered thereafter from the Impacted Facility through the Power Transfer System, and the Co-Tenants owning the other Turbines and other facilities shall be authorized to take such action (including, without limitation, disconnecting the Impacted Facility from the Power Transfer System) as is necessary to prevent the use of the Power Transfer System to deliver energy generated by the Impacted Facility. Such suspension shall remain in effect until such time, if any, as the use of the Power Transfer System to deliver electricity generated by the Impacted Facility would no longer have an Adverse Regulatory Event. At that point the right of the Co-Tenant owning the Impacted Facility to use the Power Transfer System to deliver electricity generated by the Impacted Facility shall be reinstated on the terms and conditions set forth in this Agreement."
Sample 1
Adverse Regulatory Event. In the event of an Adverse Regulatory Event arising from or in connection with this Agreement, Owner and Manager shall work together in good faith to amend this Agreement to eliminate the impact of such Adverse Regulatory Effect; provided, however, Manager shall have no obligation to materially reduce its
Sample 1
Adverse Regulatory Event. In the event of an Adverse Regulatory Event arising from or in connection with this Agreement or a REIT Party’s ownership of Company Shares, the Company and the Stockholders shall work together in good faith to eliminate the impact of such Adverse Regulatory Event, including entering into such amendments to this Agreement as may be necessary or appropriate or to permit such REIT Party to effect the Transfer of its Company Shares.
Sample 1
AutoNDA by SimpleDocs
Adverse Regulatory Event. 65 11.36 COMMERCIAL LEASES..............................................................................66 11.37
Sample 1
Adverse Regulatory Event. In the event of an Adverse Regulatory Event arising from or in connection with this Agreement, Owner and Manager shall work together in good faith to amend this Agreement to eliminate the impact of such Adverse Regulatory Effect; provided, however, Manager shall have no obligation to materially reduce its rights or materially increase its obligation under this Agreement, all taken as a whole, or to bear any costs or expenses (including internal costs and expenses) in excess of $25,000 in the aggregate over the Term under Section 24.14 and this Section 24.16. For purposes of this Agreement, the term "Adverse Regulatory Effect" means any time that a law, statute, ordinance, code, rule or regulation imposes (or could impose in Owner's reasonable opinion) any material threat to HPT's status as a "real estate investment trust" under the Code or to the treatment of amounts paid to any Landlord as "rents from real property" under Section 856(d) of the Code. Each of Manager and Owner shall inform the other of any Adverse Regulatory Event of which it is aware and which it believes likely to impair compliance of any of the Hotels with respect to the aforementioned sections of the Code.
Sample 1

Related to Adverse Regulatory Event

  • Requisite Regulatory Approvals All Consents required to be obtained from or made with any Governmental Authority in order to consummate the transactions contemplated by this Agreement shall have been obtained or made.

  • Adverse Event Reporting Both Parties acknowledge the obligation to comply with the Protocol and / or applicable regulations governing the collection and reporting of adverse events of which they may become aware during the course of the Clinical Trial. Both Parties agree to fulfil and ensure that their Agents fulfil regulatory requirements with respect to the reporting of adverse events.

  • Adverse Events Subsequent to the date hereof, there shall not have occurred any of the following: (i) a suspension or material limitation in trading in securities generally on the New York Stock Exchange, the NASDAQ National Market or the NASDAQ Global Market, (ii) a general moratorium on commercial banking activities in the People’s Republic of China or New York, (iii) the outbreak or escalation of hostilities involving the United States or the People’s Republic of China or the declaration by the United States or the People’s Republic of China of a national emergency or war if the effect of any such event specified in this clause (iii) in your reasonable judgment makes it impracticable or inadvisable to proceed with the public offering or the delivery of the Shares on the terms and in the manner contemplated in the Prospectus, or (iv) such a material adverse change in general economic, political, financial or international conditions affecting financial markets in the United States or the People’s Republic of China having a material adverse impact on trading prices of securities in general, as, in your reasonable judgment, makes it impracticable or inadvisable to proceed with the public offering of the Shares or the delivery of the Shares on the terms and in the manner contemplated in the Prospectus.

  • Adverse Action The Indenture Trustee need not take an action that it determines might have a material adverse effect on the rights of the Noteholders not consenting to the action.

  • Environmental Events The Borrower will promptly give notice to the Agent (i) upon the Borrower obtaining knowledge of any potential or known Release of any Hazardous Substances at or from any Real Estate; (ii) of any violation of any Environmental Law that the Borrower, the Guarantors or any of their respective Subsidiaries reports in writing or is reportable by such Person in writing (or for which any written report supplemental to any oral report is made) to any federal, state or local environmental agency and (iii) upon becoming aware thereof, of any inquiry, proceeding, investigation, or other action, including a notice from any agency of potential environmental liability, of any federal, state or local environmental agency or board, that in either case involves any Real Estate or has the potential to materially affect the assets, liabilities, financial conditions or operations of the Borrower, any Guarantor or any Subsidiary.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!