Economic Reinstatement Test During Construction Sample Clauses

Economic Reinstatement Test During Construction. Project Co may, by notice to the Authority, terminate this Agreement if:
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Economic Reinstatement Test During Construction. If prior to the Service Commencement Date the Facility suffers damage or destruction that is likely to cost more than $5,000,000, (Index Linked), to repair, replace and restore, and on the forecast Service Commencement Date following such reinstatement there would be a breach of the Senior Loan Life Cover Ratio test contained in Section 12.1(t) of the Note Indenture, Project Co may, by notice to the Province, terminate this Agreement in which case the Province will pay compensation to Project Co in accordance with Section 4 [No-Fault Termination] of Schedule 9 [Compensation on Termination].
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Economic Reinstatement Test During Construction. If material damage to the New Facility occurs prior to the Final Service Commencement Date, and on the forecast Service Commencement Date following such reinstatement there would be a breach of the Loan Life Cover Ratio Default test contained in Section 15.1(16)(c) of the Credit Agreement, Project Co may, by notice to the Authority, terminate this Agreement in which case the Authority will pay compensation to Project Co in accordance with Section 6 of Schedule 9 [Compensation on Termination].
Sample 1
Economic Reinstatement Test During Construction. If prior to the Service Commencement Date the Facility suffers damage or destruction that is likely to cost more than $ of costs and expenses that are not covered by Insurance Proceeds, Index Linked, to repair, replace and restore, and on the forecast Service Commencement Date following such reinstatement the Loan Life Cover Ratio contained in cell D76 of the ‘Summary output’ sheet of the Financial Model is less than 1.05, Project Co may, by notice to BC Hydro, terminate this Agreement in which case BC Hydro will pay compensation to Project Co in accordance with Section 4 [No Fault Termination] of Schedule 16 [Compensation on Termination].
Sample 1
Economic Reinstatement Test During Construction. ‌ If prior to the Service Commencement Date the Building or Buildings suffers damage or destruction that is likely to cost more than $5 million, (Index Linked), to repair, replace and restore, and on the forecast Service Commencement Date following such reinstatement there would be a breach of the Senior LLCR test contained in Section 11.1(r) of the credit agreement forming part of the Senior Financing Agreements, Project Co may, by notice to the Authority, terminate this Agreement in which case the Authority will pay compensation to Project Co in accordance with Section 5 of Schedule 9 [Compensation on Termination].
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Related to Economic Reinstatement Test During Construction

  • Maintenance during Construction Period (i) During the Construction Period, the Contractor shall maintain, at its cost, the existing lane(s) of the Project Highway so that the traffic worthiness and safety thereof are at no time materially inferior as compared to their condition on Appointed Date, and shall undertake the necessary repair and maintenance works for this purpose; provided that the Contractor may, at its cost, interrupt and divert the flow of traffic if such interruption and diversion is necessary for the efficient progress of Works and conforms to Good Industry Practice; provided further that such interruption and diversion shall be undertaken by the Contractor only with the prior written approval of the Authority’s Engineer which approval shall not be unreasonably withheld. For the avoidance of doubt, it is agreed that the Contractor shall at all times be responsible for ensuring safe operation of the Project Highway. It is further agreed that in the event the Project includes construction of a bypass or tunnel and realignment of the existing carriageway, the Contractor shall maintain the existing highway in such sections until the new Works are open to traffic.

  • Delays during construction Without prejudice to the provisions of Clause 10.3 (ii), in the event the Contractor does not achieve any of the Project Milestones or the Authority’s Engineer shall have reasonably determined that the rate of progress of Works is such that Completion of the Project Highway is not likely to be achieved by the end of the Scheduled Completion Date, it shall notify the same to the Contractor, and the Contractor shall, within 15 (fifteen) days of such notice, by a communication inform the Authority’s Engineer in reasonable detail about the steps it proposes to take to expedite progress and the period within which it shall achieve the Project Completion Date.

  • Default – Reprocurement Costs In case of Contract breach by Contractor, resulting in termination by the County, the County may procure the goods and/or services from other sources. If the cost for those goods and/or services is higher than under the terms of the existing Contract, Contractor will be responsible for paying the County the difference between the Contract cost and the price paid, and the County may deduct this cost from any unpaid balance due the Contractor. The price paid by the County shall be the prevailing market price at the time such purchase is made. This is in addition to any other remedies available under this Contract and under law.

  • During Construction Upon request of the Owner the Contractor shall submit written proposals for unit prices to be applied in the event Change Order Work is authorized by the Owner to be performed under Case (b).

  • Application of Miscellaneous Proceeds upon Condemnation, Destruction, or Loss in Value of the Property In the event of a total taking, destruction, or loss in value of the Property, all of the Miscellaneous Proceeds will be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property (each, a “Partial Devaluation”) where the fair market value of the Property immediately before the Partial Devaluation is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the Partial Devaluation, a percentage of the Miscellaneous Proceeds will be applied to the sums secured by this Security Instrument unless Borrower and Lender otherwise agree in writing. The amount of the Miscellaneous Proceeds that will be so applied is determined by multiplying the total amount of the Miscellaneous Proceeds by a percentage calculated by taking (i) the total amount of the sums secured immediately before the Partial Devaluation, and dividing it by (ii) the fair market value of the Property immediately before the Partial Devaluation. Any balance of the Miscellaneous Proceeds will be paid to Borrower. In the event of a Partial Devaluation where the fair market value of the Property immediately before the Partial Devaluation is less than the amount of the sums secured immediately before the Partial Devaluation, all of the Miscellaneous Proceeds will be applied to the sums secured by this Security Instrument, whether or not the sums are then due, unless Borrower and Lender otherwise agree in writing.

  • Construction Phase Fee Contractor’s Construction Phase Fee is the maximum amount payable to Contractor for any cost or profit expectation incurred in the performance of the Work that is not specifically identified as being eligible for reimbursement by Owner elsewhere in this Agreement. References in the UGSC to Contractor’s “overhead” and “profit” mean Contractor’s Construction Phase Fee. The Construction Phase Fee includes, but is not limited to, the following items:

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