Contract Decision Process Clause Samples

Contract Decision Process. On December 11, 1992, and again on May 1, ------------------------- 1993 and/or July 31, 1993 (if the May Extension and/or the July Extension apply), decisions will be made regarding (a) the termination of this Agreement; (b) the unmodified continuation of this Agreement; and/or (c) the modification of this Agreement as set forth below in Section 19. (a) If, on or before December 11, 1992, NRTC has paid HCG $250 million in aggregate Committed Member Payments pursuant to Section 1.01(b), then this Agreement shall be modified as set forth in Section 19. (b) If, on December 11, 1992, NRTC has paid HCG at least $100 million, but less than $250 million, in aggregate Committed Member Payments, then NRTC shall automatically be granted an extension until May 1, 1993 to pay HCG (and/or have Committed Members commit to pay HCG, as applicable, in Second Payments) $250 million in aggregate Committed Member Payments (the "May Extension"). If the May Extension has been granted and if on or before May 1, 1993, NRTC has paid HCG (and/or Committed Members have committed to pay HCG, as applicable, in Second Payments) $250 million in aggregate Committed Member Payments, then this Agreement shall be modified as set forth in Section 19; otherwise this Agreement shall continue unmodified by Exhibit 19, unless a July Extension is granted pursuant to Section 1.03(c), below. (c) If the May Extension has been granted and if on or before May 1, 1993, NRTC has paid HCG (and/or Committed Members have committed to pay HCG, as applicable, in Second Payments) at least $175 million (but less than $250 million) in aggregate Committed Member Payments, then NRTC shall automatically be granted an extension until July 31, 1993 to pay HCG (and/or have Committed Members commit to pay MCG, as applicable, in Second Payments) $250 million in aggregate Committed Member Payments (the "July Extension"); otherwise, this Agreement shall continue unmodified by Exhibit 19. (d) If the July Extension has been granted and if on or before July 31, 1993, NRTC has paid HCG (and/or Committed Members have committed to pay HCG, as applicable, in Second Payments) $250 million in aggregate Committed Member Payments, then this Agreement shall be modified as set forth in Section 19; otherwise this Agreement shall continue unmodified by Exhibit 19. (e) If, on December 11, 1992, NRTC has paid HCG less than $100 million in aggregate Committed Member Payments, then the applicable provisions of Section 1.04(a) shall apply....