Assumption Period Sample Clauses

Assumption Period. For the period from Closing to the assumption of leases on the Leased Tractors and Leased Trailers and assumption of the financing on the Tractors and Trailers on January 1, 1997 or such later date as shall be required if the applicable lenders or lessor should not consent to assignment (the "Assumption Period"), Smithway shall sublease or lease, as appropriate, the Leased Tractors, Leased Trailers, Tractors, and Trailers on the same terms and conditions of the Assigned Leases and Assigned Equipment Financing and be responsible for all operating costs associated with the Leased Tractors, Leased Trailers, Tractors, and Trailers, including but not limited to all state and federal road and fuel taxes and federal highway use taxes when due. During the Assumption Period, Smithway shall pay directly to the appropriate lessor or lender identified on Exhibit A, D, or E, as appropriate, an amount equal to the aggregate monthly payment due under the Assigned Leases and Assigned Equipment Financing. Smithway shall provide insurance coverage as provided in the respective Assigned Leases and Assigned Equipment Financing, naming the lessee or lender, as appropriate, and Seller as an additional insured thereunder, and providing evidence of such coverage to Seller as of Closing. Except as provided herein, Smithway shall perform all of the other terms, conditions, and obligations of Seller under the Assigned Leases and Assigned Equipment Financing.
Sample 1
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Assumption Period. Should Peoples fail to notify the County of its intention to cure the default of the Proponent within the County Cure Period, or, should it fail to cure the default of the Proponent within the County Cure Period, whether or not it has notified the County of its intention to cure, or should the default be incapable or curation, then the County shall have a further period of thirty (30) days commencing on the earlier of: i) the date of expiration of the County Cure Period; and, ii) the date on which Peoples gives notice to the County that it does not intend to cure the default of the Proponent or that the default is incapable of curation (the "Assumption Period"); to notify Peoples whether the County intends to: (a) assume the obligations of the Proponent under the Peoples Security in writing on terms and conditions acceptable to the County and Peoples acting reasonably; or, (b) source another organization (the "Substitute Proponent") which meets the requirements of the County Program who is acceptable to Peoples and CMHC, which Substitute Proponent, if acceptable, shall assume the obligations of the Proponent under the Peoples Security in writing on terms and conditions acceptable to Peoples and CMHC acting reasonably. (c) Peoples shall upon request provide the County with a status statement with respect to the Peoples Charge indicating the principal, interest and any other amounts outstanding pursuant to the Peoples Charge, as of the date of receipt of the County Default Notice, together with a per diem rate of interest thereon for the purposes noted in this Section 5.3.
Sample 1
Assumption Period. The period commencing on the date one day after the conclusion of the Inspection Period provided that Purchaser shall have notified Sellers of its satisfaction or waiver with the Physical/Financial Review Condition, and concluding at 11:59 p.m. eastern time one hundred twenty (120) days thereafter, provided, however, Purchaser shall have the right, upon notice thereof to Sellers on or before conclusion of the original Assumption Period, to extend the same for two additional periods of thirty (30) days each, provided that the Loan Assumption Condition has not then been satisfied.
Sample 1

Related to Assumption Period

  • PRORATION PERIOD The Tenant: (check one)

  • Consideration Period You have 21 days from the date this Separation Agreement is given to you to consider this Separation Agreement before signing it. You may use as much or as little of this 21-day period as you wish before signing. If you do not sign and return this Separation Agreement within this 21-day period, you will not be eligible to receive the benefits described in this Separation Agreement.

  • Election Period The period which begins on the first day of the Plan Year in which the Participant attains age thirty-five (35) and ends on the date of the Participant’s death. If a Participant separates from Service prior to the first day of the Plan Year in which age thirty-five (35) is attained, the Election Period shall begin on the date of separation, with respect to the account balance as of the date of separation.

  • Preparation Period During the preparation period, a teacher will have no other assignment except in an emergency situation. It is recognized that the preparation period is a scheduled part of the teacher's work day and the teacher is expected to be in his/her respective Building. If the teacher must leave the Building during his/her preparation and/or lunch period, he/she must notify the Building switchboard operator.

  • Evaluation Period Until 5:00 p.m. Eastern time on August 16, 2002 (the "Evaluation Period"), Purchaser and its authorized agents and representatives (for purposes of this Article V, the "Licensee Parties") shall have the right, subject to the right of any Tenants, to enter upon the Real Property at all reasonable times during normal business hours to perform an inspection of the Real Property, the Improvements and the Personal Property. Purchaser will provide to Seller notice (for purposes of this Section 5.1(a), an "Entry Notice") of the intention of Purchaser or the other Licensee Parties to enter the Real Property at least 24 hours prior to such intended entry and specify the intended purpose therefor and the inspections and examinations contemplated to be made and with whom any Licensee Party will communicate. At Seller's option, Seller may be present for any such entry and inspection. Purchaser shall not communicate with or contact any of the Tenants or any of the Authorities without the prior written consent of Seller, which consent shall not be unreasonably withheld or delayed. If Purchaser shall elect to communicate with any of the Authorities and Seller consents thereto, Purchaser shall give Seller prior notice thereof, and Seller and Seller's representatives shall have the right, but not the obligation, to attend, and participate in, all such meetings. Notwithstanding anything to the contrary contained herein, no so-called Phase II environmental physical testing or sampling shall be conducted during any such entry by Purchaser or any Licensee Party upon the Real Property without Seller's specific prior written consent, which consent shall not be unreasonably withheld or unduly delayed. TIME IS OF THE ESSENCE with respect to the provisions of this Section 5.1.

  • Termination Period This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

  • Allocations During the Early Amortization Period During the Early Amortization Period, an amount equal to the product of (A) the Principal Allocation Percentage and (B) the Series 1997-1 Allocation Percentage and (C) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 1997-1 Certificateholders and retained in the Collection Account until applied as provided herein; provided, however, that after the date on which an amount of such Collections equal to the Adjusted Invested Amount has been deposited into the Collection Account and allocated to the Series 1997-1 Certificateholders, such amount shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such date is greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account.

  • Computation Period Interest on the Loans and all other amounts payable by Borrower hereunder on a per annum basis shall be computed on the basis of a 360-day year and the actual number of days elapsed (including the first day but excluding the last day) unless such calculation would result in a usurious rate or to the extent such Loan bears interest based upon the Base Rate, in which case interest shall be calculated on the basis of a 365-day year or 366-day year, as the case may be. In computing the number of days during which interest accrues, the day on which funds are initially advanced shall be included regardless of the time of day such advance is made, and the day on which funds are repaid shall be included unless repayment is credited prior to the close of business on the Business Day received. Each determination by Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

  • BID ACCEPTANCE PERIOD A bid shall constitute an irrevocable offer for a period of ninety (90) days from the bid opening date or until the date of award. In the event that an award is not made by the County within ninety (90) days from the bid opening date, the Bidder may withdraw their bid or provide a written extension of their bid.

  • Negotiation Period The Parties shall negotiate in good faith and attempt to resolve any dispute, controversy or claim arising out of or relating to this Agreement (a “Dispute”) within 30 days after the date that a Party gives written notice of such Dispute to the other Party.

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