Common use of Cessation of Operations Clause in Contracts

Cessation of Operations. Operation of the Project shall cease for a continuous period of not less than thirty (30) days unless (A) such cessation of operations occurs by reason of an Uncontrollable Force; (B) the Borrower’s repairs or required improvements to operate the Project cannot be completed within thirty (30) days; (C) the Borrower shall be self-insured in an amount sufficient to cover, or shall have in force an insurance policy or policies under which the Borrower is entitled to recover, substantially all property damage expenses; and (D) the Borrower continues to collect the Pledged Taxes in amounts sufficient to cover payments of all TIFIA Debt Service and costs and expenses of the Borrower during such cessation of operations; provided, however, that the Project shall not be deemed to have ceased operations for the period that the Borrower operates buses or other public transit service along the route served by the Project and is exercising reasonable diligence to resume full light rail operations as soon as practicable but not later than 180 days.

Cessation of Operations. Operation of the Project shall cease for a continuous period of not less than thirty (30) days unless (A) such cessation of operations occurs by reason of an Uncontrollable Force; (B) the Borrower’s repairs or required improvements to operate the Project cannot be completed within thirty (30) days; (C) the Borrower shall be self-insured in an amount sufficient to cover, or shall have in force an insurance policy or policies under which the Borrower is entitled to recover, substantially all property damage expenses; and (D) the Borrower continues to collect the Pledged Taxes in amounts sufficient to cover payments of all TIFIA Debt Service and costs and expenses of the Borrower during such cessation of operations; provided, however, provided that the Project shall not be deemed to have ceased operations for the period that the Borrower operates buses or other public transit service along the route served by the Project and is exercising reasonable diligence to resume full light rail operations as soon as practicable but not later than 180 days.

Cessation of Operations. Operation of the Project shall cease for a continuous period of not less than thirty (30) days unless (A) such cessation of operations occurs by reason of an Uncontrollable Force; (B) the Borrower’s repairs or required improvements to operate the Project cannot be completed within thirty (30) days; (C) the Borrower shall be self-insured in an amount sufficient to cover, or shall have in force an insurance policy or policies under which the Borrower is entitled to recover, substantially all property damage expenses; and (D) the Borrower continues to collect the Pledged Taxes in amounts sufficient to cover payments of all TIFIA RRIF Debt Service and costs and expenses of the Borrower during such cessation of operations; provided, however, provided that the Project shall not be deemed to have ceased operations for the period that the Borrower operates buses or other public transit service along the route served by the Project and is exercising reasonable diligence to resume full light rail operations as soon as practicable but not later than 180 days.