Common use of Consent as Necessary for Bonding Clause in Contracts

Consent as Necessary for Bonding. Each of the Companies hereby consents that the restrictions of this Article VI on transfer and on any right of partition, and any other restriction, term or condition of this Agreement, shall be and hereby is waived and shall be inapplicable to the extent (but only to the extent) that it shall be finally determined, by a court of competent jurisdiction in an action or proceeding to which all of the Companies and their respective mortgagees are parties, that such restriction, term or condition would disqualify the interest of one or more of the Companies in Subject Properties from eligibility as the basis for the issuance of additional bonds under their respective mortgage indentures as in effect at the date of this Agreement.

Appears in 2 contracts

Samples: Joint Power Supply Agreement (Madison Gas & Electric Co), Joint Power Supply Agreement (Madison Gas & Electric Co)

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Consent as Necessary for Bonding. Each of the Companies hereby consents that the restrictions of this Article VI Paragraph 11.5 on transfer and on any right of partition, and any other restriction, term or condition of this Agreement, shall be and hereby is waived and shall be inapplicable to the extent (but only to the extent) that it shall be finally determined, by a court of competent jurisdiction in an action or proceeding to which all of the Companies and their respective mortgagees are parties, that such restriction, term or condition would disqualify the interest of one or more of the Companies in Subject Properties from eligibility as the basis for the issuance of additional bonds under their respective mortgage indentures as in effect at as of the date of this Agreement. Paragraph 12.

Appears in 1 contract

Samples: Agreement for Construction and Operation of Columbia Generating Plant (Madison Gas & Electric Co)

Consent as Necessary for Bonding. Each of the Companies hereby consents that the restrictions of this Article VI Section 17 on transfer and on any right of partition, and any <PAGE> other restriction, term or condition of this Agreement, shall be and hereby is are waived and shall be inapplicable to the extent (but only to the extent) that it shall be finally determined, by a court of competent jurisdiction or an arbitrator(s) in an action or proceeding to which all of the Companies and their respective mortgagees are parties, that such restriction, term or condition would disqualify the interest of one or more of the Companies in the Subject Properties from eligibility as the basis for the issuance of additional bonds under their respective mortgage indentures as in effect at as of the date of this Agreement.

Appears in 1 contract

Samples: Joint Plant Agreement (WPS Resources Corp)

Consent as Necessary for Bonding. Each of the Companies hereby consents that the restrictions of this Article VI Section 2.08 on transfer and on any right of partition, and any other restriction, term or condition of this Agreement, shall be and hereby is waived and shall be inapplicable to the extent (but only to the extent) that it shall be finally determined, by a court of competent jurisdiction in an action or proceeding to which all of the Companies and their respective mortgagees are parties, that such restriction, term or condition would disqualify the interest of one or more of the Companies either party in Subject Properties from eligibility as the basis for the issuance of additional bonds under their respective mortgage indentures as in effect at the date of this Agreement.

Appears in 1 contract

Samples: Joint Power Supply Agreement (Madison Gas & Electric Co)

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Consent as Necessary for Bonding. Each of the Companies hereby consents that the restrictions of this Article VI Paragraph 14 on transfer and on any right of partition, and any other restriction, term or condition of this Agreement, shall be and hereby is waived and shall be inapplicable to the extent (but only to the extent) that it shall be finally determined, by a court of competent jurisdiction in an action or proceeding to which all of the Companies and their respective mortgagees are parties, that such restriction, term or condition would disqualify the interest of one or more of the Companies in Subject Properties from eligibility as the basis for the issuance of additional bonds under their respective mortgage indentures as in effect at as of the date of this Agreement.

Appears in 1 contract

Samples: Agreement for Construction and Operation (Madison Gas & Electric Co)

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