Change in DMNC Sample Clauses

Change in DMNC. The maximum bonus or liquidated damages -------------- capable of being earned by or assessed against Operator in the Change in DMNC category of the AFAA in any Project Year shall be Twenty-Five Thousand and 00/100 Dollars ($25,000.00). As incentive to attain the level of DMNC required by Owner, Operator shall be entitled to receive a bonus or, alternatively, be assessed liquidated damages in the Change in DMNC category of the AFAA based on the results of the semi-annual DMNC Test compared with the results of the semi- annual DMNC Test conducted during the corresponding period in the immediately preceding Project Year (the "Target DMNC"); provided, however, if either Owner or Operator desires not to use the results of the semi-annual DMNC Test conducted during the corresponding period in the immediately preceding Project Year as the Target DMNC, then the Target DMNC shall be mutually agreed to by Owner and Operator, but if Owner and Operator can not agree prior to the running of such test, then the Target DMNC for such test shall be the DMNC as demonstrated by the semi-annual DMNC Test conducted during the corresponding period in the immediately preceding Project Year. By no later than forty-five (45) days prior to each semi-annual DMNC Test, Operator shall prepare and submit for Owner's approval a plan for such DMNC Test (the "Test Plan") which shall clearly identify the measures to be taken by Operator to meet the Target DMNC. The Test Plan shall be subject to Owner approval, provided, however, in the event that Owner objects to all or any portion of the Test Plan, Owner shall notify Operator in writing and Owner and Operator shall promptly meet to resolve any differences in order to establish an approved Test Plan by no later than twenty (20) days prior to the semi-annual DMNC Test. For each DMNC Test conducted during a Project Year, Owner shall evaluate Operator on its ability to achieve the Target DMNC, and, subject to Owner's sole and complete discretion, award Operator a bonus of up to Twelve Thousand Five Hundred and 00/100 Dollars ($12,500.00) or assess Operator with liquidated damages of up to Twelve Thousand Five Hundred and 00/100 Dollars ($12,500.00) in the Change in DMNC category of the AFAA. If an event of Force Majeure prevents or disrupts the running of a scheduled DMNC Test, Operator shall neither be assessed liquidated damages nor receive a bonus under such test. The sole effect of Force Majeure under this Section 6.1(b) shall be to caus...
Sample 1
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Related to Change in DMNC

  • Change in Name Give Lender written notice immediately upon forming an intention to change its name, state of organization or form of business organization.

  • Change in Management Permit a change in the senior management of Borrower.

  • Change of Control/Change in Management (i) Any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that a Person will be deemed to have “beneficial ownership” of all securities that such Person has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of more than 35% of the total voting power of the then outstanding voting stock of the Parent;

  • Change in Board During any period of two (2) consecutive years (not including any period prior to the execution of this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in clause (i), (iii) or (iv) of this definition of Change in Control) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board;

  • Change in Fiscal Year Such Obligor will not, and will not permit any of its Subsidiaries to, change the last day of its fiscal year from that in effect on the date hereof, except to change the fiscal year of a Subsidiary acquired in connection with an Acquisition to conform its fiscal year to that of Borrower.

  • Change in Location Notify FINOVA in writing forty-five (45) days prior to any change in the location of Borrower's chief executive office or the location of any Collateral, or Borrower's opening or closing of any other place of business;

  • Change in Tax Law Any reference to a provision of the Code, Treasury Regulations or any other Applicable Tax Law shall include a reference to any applicable successor provision of the Code, Treasury Regulations or other Applicable Tax Law.

  • Change in Effective Control A Change in Effective Control occurs if, over a twelve (12) month period: (i) a person or group acquires stock representing thirty percent (30%) of the voting power of the corporation; or (ii) a majority of the members of the board of directors of the ultimate parent corporation is replaced by directors not endorsed by the persons who were members of the board before the new directors’ appointment, as defined in Treasury Regulations §1.409A-3(i)(5)(vi).

  • Upon a Change in Control If a Change in Control shall have occurred at any time during the period in which this Agreement is effective, this Agreement shall continue in effect for (i) the remainder of the month in which the Change in Control occurred and (ii) a term of 12 months beyond the month in which such Change in Control occurred (such entire period hereinafter referred to as the "Protected Period"). Note that in certain circumstances defined and set forth below, provisions of this Agreement shall survive for longer than the period described above.

  • After a Change in Control (i) From and after the date of a Change in Control (as defined in section 3(a) hereof) during the term of this Agreement, the Company shall not terminate the Employee from employment with the Company except as provided in this section 2(b), or as a result of the Employee's Disability (as defined in section 3(d) hereof) or his death.

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