Closures, Hourly Unavailability Events and Unavailability Values Sample Clauses

Closures, Hourly Unavailability Events and Unavailability Values. (a) Each Closure shall be deemed to start when the event may reasonably be inferred to have started. Each Closure shall be deemed to end when the circumstances giving rise to the Closure no longer apply and the lanes affected by the Closure have been re- opened to traffic. (b) The Authority shall be entitled to assess one or more Hourly Unavailability Event(s) for any Closure that is not a Permitted Closure. No Hourly Unavailability Event(s) shall be assessed with respect to any Permitted Closure as further described in Section 2.8 (Permitted Closures) of this Exhibit 8 (Payment Mechanism). (c) Depending upon the duration of the Closure, one or more Hourly Unavailability Event(s) may be assessed for each Closure. The first such Hourly Unavailability Event shall commence at the beginning of the Hour during which the Closure is deemed to have started and the last such Hourly Unavailability Event shall finish at the end of the Hour during which the Closure is deemed to have ended. (d) For each Hourly Unavailability Event, the corresponding Unavailability Value (UV) shall be as set forth in Tables 1 – 5 of this Exhibit 8 (Payment Mechanism) and the corresponding Calendar Event Factor (CEF) shall be as set forth in Section 2.10 (Calendar Event Factors) of this Exhibit 8 (Payment Mechanism). (e) Where a Closure of less than 60 minutes duration spans two consecutive Hours, the Authority will only assess an Hourly Unavailability Event for the Hour having the higher Unavailability Value. (f) When no Hourly Unavailability Event occurs, the Unavailability Value shall be $0.00 and the Calendar Event Factor shall be 0. (g) Where an Hourly Unavailability Event results in a Closure that includes a 12’ shoulder, the Unavailability Value for the Closure of a shoulder shall be added to the Unavailability Value for the Closure of lanes (if any). (h) In the event of a Closure in which one traffic lane is closed and the Authority has approved the use of a shoulder as a regular traffic lane, the Authority shall be entitled to assess an Hourly Unavailability Event for the closure of the shoulder, but not for the closure of the traffic lane. (i) The Authority’s entitlement to assess Monthly Unavailability Deductions arising from Hourly Unavailability Events shall commence upon Service Commencement and shall continue until the Termination Date. Monthly Unavailability Deductions assessed prior to Substantial Completion shall be deducted from the Substantial Completion Payment as se...
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Related to Closures, Hourly Unavailability Events and Unavailability Values

  • Unavailability of Tenor of Benchmark Notwithstanding anything to the contrary herein or in any other Loan Document, at any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including the Term SOFR Reference Rate) and either (A) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion or (B) the regulatory supervisor for the administrator of such Xxxxxxxxx has provided a public statement or publication of information announcing that any tenor for such Benchmark is not or will not be representative, then the Administrative Agent may modify the definition of “Interest Period” (or any similar or analogous definition) for any Benchmark settings at or after such time to remove such unavailable or non-representative tenor and (ii) if a tenor that was removed pursuant to clause (i) above either (A) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that it is not or will not be representative for a Benchmark (including a Benchmark Replacement), then the Administrative Agent may modify the definition of “Interest Period” (or any similar or analogous definition) for all Benchmark settings at or after such time to reinstate such previously removed tenor.

  • Benchmark Unavailability Period Upon the Borrower’s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any pending request for a SOFR Borrowing of, conversion to or continuation of SOFR Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any such request into a request for a Borrowing of or conversion to Base Rate Loans. During a Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of Base Rate.

  • Availability of Utilities All utility services necessary for the construction of the Improvements will be available prior to the commencement of construction, and all utility services necessary for the proper operation of the Improvements for their intended purposes are available at the Leased Premises or will be available at the Leased Premises prior to the Final Disbursement Date, at commercially comparable utility rates and hook-up charges for the vicinity, including water supply, storm and sanitary sewer facilities, gas, electricity and telephone facilities. Lessee shall furnish evidence of such availability of utilities from time to time at Lessor's request.

  • Non-Availability of Funds The obligation of the RCO to make payments is contingent on the availability of state and federal funds through legislative appropriation and state allotment. If amounts sufficient to fund the grant made under this Agreement are not appropriated to RCO for expenditure for this Agreement in any biennial fiscal period, RCO shall not be obligated to pay any remaining unpaid portion of this grant unless and until the necessary action by the Legislature or the Office of Financial Management occurs. If RCO participation is suspended under this section for a continuous period of one year, RCO’s obligation to provide any future funding under this Agreement shall terminate. Termination of the Agreement under this section is not subject to appeal by the Sponsor.

  • Availability of Earnings Statements The Company shall make generally available to holders of its securities as soon as may be practicable but in no event later than the last day of the fifteenth (15th) full calendar month following the calendar quarter in which the most recent effective date occurs in accordance with Rule 158 of the Rules and Regulations, an earnings statement (which need not be audited but shall be in reasonable detail) for a period of twelve (12) months ended commencing after the effective date, and satisfying the provisions of Section 11(a) of the Act (including Rule 158 of the Rules and Regulations).

  • General Availability The commitment to availability specified in the letter of appointment shall be subject to mutually acceptable revision. Such revision will occur once per year, or, if mutually agreed between the Employer and the employee, on a more frequent basis. The Employer will issue a revised letter of appointment to reflect approved changes to employee’s general availability.

  • Availability of Services CBT agrees not to discontinue or refuse to provide any service provided or required hereunder other than in accordance with the terms of this Agreement, or unless required by the Commission.

  • Availability Reserves All Revolving Loans otherwise available to Borrower pursuant to the lending formulas and subject to the Maximum Credit and other applicable limits hereunder shall be subject to Lender's continuing right to establish and revise Availability Reserves.

  • Service Availability You understand that Service availability is at all times conditioned upon the corresponding operation and availability of the communication systems used in communicating your instructions and requests to the Credit Union. We will not be liable or have any responsibility of any kind for any loss or damage thereby incurred by you in the event of any failure or interruption of such communication systems or services resulting from the act or omission of any third party, or from any other cause not reasonably within the control of the Credit Union.

  • Reports of unusual occurrence The Contractor shall, during the Maintenance Period, prior to the close of each day, send to the Authority and the Authority’s Engineer, by facsimile or e- mail, a report stating accidents and unusual occurrences on the Project Highway relating to the safety and security of the Users and Project Highway. A monthly summary of such reports shall also be sent within 3 (three) business days of the closing of month. For the purposes of this Clause 15.4, accidents and unusual occurrences on the Project Highway shall include: (a) accident, death or severe injury to any person; (b) damaged or dislodged fixed equipment; (c) flooding of Project Highway; and (d) any other unusual occurrence.

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