Cessation of Operation of the Complex Sample Clauses

Cessation of Operation of the Complex. (a) If, after the Commercial Operations Date, without the prior written consent of the Purchaser, the Seller shall have ceased to operate the Complex for a period of seven (7) consecutive Days other than because of:
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Cessation of Operation of the Complex. (a)If, after the Commercial Operations Date, without the prior written consent of the Purchaser, the Seller shall have ceased to operate the Complex for a period of forty eight (48) consecutive hours other than because of (i) a Force Majeure Event, (ii) a Non-Project Event, , (iii) any Forced Outage or Partial Forced Outage which the Purchaser does not dispute, (iv) Scheduled Outage, (v) Maintenance Outage, or (vi) any act or omission of the Purchaser and/or Grid System Operator that effectively prevents the Seller or its Contractors from operating the Complex, then the Purchaser shall, subject to the restrictions set forth in this Section 5.15, be entitled to (A) enter the Complex and operate it until the Seller demonstrates to the reasonable satisfaction of the Purchaser that the Seller can and will resume normal operation of the Complex or until the Lenders shall have exercised their rights to enter or procure a third party to enter the Complex and operate it by exercising their rights under the Financing Documents, and (B) as soon as is practicable, send written notice of such entry to the Agent (as defined in Section 16.5) in accordance with the procedure set forth in Section 16.5. During any period that the Purchaser shall operate the Complex pursuant to this Section, the Purchaser shall (i) operate the Complex within the Technical Limits, (ii) bear all costs of such operation, and (iii) continue to pay to the Seller the Principal Repayment Component and Interest Charges Component based on the Monthly Benchmark Energy (prorated as applicable).
Sample 1See All (4)
Cessation of Operation of the Complex. (a) If, after the Commercial Operations Date, without the prior written consent of the Power Purchaser, the Company shall have ceased to declare available capacity substantially equal to the then-prevailing Tested Capacity or to comply with the Despatch Instructions or deliver Net Electrical Output substantially equal to the Declared Available Capacity for a period of forty eight (48) consecutive hours other than because of any of the events described in Section 5.4(d), any Forced Outage or Partial Forced Outage which the Power Purchaser does not dispute, Scheduled Outage, Maintenance Outage or Section 5.4 or any act of the Power Purchaser that effectively constitutes ejection of the Company or its Contractors from the Complex, then the Power Purchaser shall, subject to the restrictions set forth in this Section 5.14, be entitled to enter the Complex and operate it until the Company demonstrates to the reasonable satisfaction of the Power Purchaser that the Company can and will resume normal operation of the Complex or until the Lenders shall have exercised their rights to enter or procure a third party to enter the Complex and operate it, and as soon as is practicable, send written notice of such entry to the Agent (as defined in Section 16.5) in accordance with the procedure set forth in Section 16.5. During any period that the Power Purchaser shall operate the Complex pursuant to this Section, the Power Purchaser shall (i) operate the Complex within the Technical Limits,
Sample 1
Cessation of Operation of the Complex. (a) If, after the Commercial Operations Date, without the prior written consent of the Purchaser, the Seller shall have ceased to operate the Complex for a period of thirty (30) consecutive Days other than because of :
Sample 1

Related to Cessation of Operation of the Complex

  • Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

  • SUSPENSION OF OPERATIONS Concessionaire shall, at the direction of Department, immediately suspend, delay or interrupt Concessionaire’s operation of all or any part of the Concession Premises for such period of time as Department may determine to be appropriate to protect the Concession Premises and/or public health, safety, and welfare due to the occurrence of hazardous work conditions, emergency conditions, and/or any other cause including, but not limited to, Concessionaire's failure to perform any of the covenants, agreements, and conditions contained in this Agreement on its part to be performed. Concessionaire hereby waives any claim, and Department shall not be liable to any party claiming through Concessionaire, for damages, payment abatement, or compensation as a result of Department's actions under this Paragraph or this Agreement. Department's suspension of Concessionaire's operations shall be in addition to any other right or remedy available by law or in equity.

  • CONTINUITY OF OPERATION Section 1: No Strikes, Work Stoppages or Lockouts Neither of the parties shall utilize any economic sanction to force its position on the other party over any issue. Further, no Employee or group of Employees shall individually or through concerted action, take part in any activity that impedes the operation of the business, except as otherwise authorized by this Agreement. Should any person or group of people participate in any such unauthorized activity, upon notification of such occurrence, the Union or the Company, as the case may be, will direct such person or group of people to resume normal operations and will take effective means to cease the unauthorized conduct. Any employee or group of employees who participate in such unauthorized activity shall be subject to immediate dismissal, unless mitigating circumstances exist that are acceptable to the ERRC. Should either party suffer financial damage as a result of such unauthorized activity, they may pursue compensation for such loss at the arbitration step of the Concern Resolution Process, and the arbitrator shall have full authority to remedy any violation of this Article.

  • CONTINUITY OF OPERATIONS (1) Engage in any business activities substantially different than those in which Borrower is presently engaged, (2) cease operations, liquidate, merge, transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell Collateral out of the ordinary course of business, or (3) pay any dividends on Borrower's stock (other than dividends payable in its stock), provided, however that notwithstanding the foregoing, but only so long as no Event of Default has occurred and is continuing or would result from the payment of dividends, if Borrower is a "Subchapter S Corporation" (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of Borrower's stock, or purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Commencement of Operations The Partnership shall not begin operations on its Leases unless the Managing General Partner is satisfied that necessary title requirements have been satisfied.

  • Control of Operations Without in any way limiting any party’s rights or obligations under this Agreement, the parties understand and agree that (a) nothing contained in this Agreement shall give Parent or the Company, directly or indirectly, the right to control or direct the other party’s operations prior to the Effective Time and (b) prior to the Effective Time, each of the Company and Parent shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over its operations.

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