Expansion Projects. If the NEP Member desires to pursue any new expansion project opportunity with respect to any of the existing assets and projects of the Company or its Subsidiaries through the Company, then the NEP Member and the Class B Member Representative shall negotiate in good faith for a period of not less than forty-five (45) days to agree to a financing arrangement acceptable to both parties that would allow the applicable Subsidiary of the Company owning the assets to which such expansion project relates to pursue such expansion project. In the event that the NEP Member and the Class B Members are unable to agree on a financing arrangement for the Company to pursue such expansion project opportunity by the end of such 45-day period, then, so long as no Triggering Event has occurred and is continuing, the Managing Member shall have the option (but not the obligation), without the consent of any other Member, to cause the Company to pursue such expansion project (a) with respect to any expansion project that is not related to NMPP and its assets, through a newly-formed Subsidiary of the Company (which Subsidiary shall not directly or indirectly own any of the existing assets and projects of the Company or its Subsidiaries as of such time) (a “Separate Subsidiary”), and (b) with respect to any expansion project related to NMPP and its assets, through NMPP, and in each case, to fund such expansion project through the making of additional Capital Contributions to the Company (which amounts shall be credited to the Capital Account of the Managing Member as of the date such Capital Contribution is received by the Company), and to enter into Permitted Material Contracts with respect to such expansion project; provided that (i) any such Capital Contributions shall not decrease any Member’s Class A Percentage Interest or Class B Percentage Interest, as applicable, or adversely affect the rights or preferences of any Member or class of Membership Interest to distributions pursuant to Section 5.01, Section 5.02 or Section 5.03 (excluding, for the avoidance of doubt, solely due to any increase to a Member’s Unreturned Contribution or Capital Account as a result of the making of such Capital Contributions), and (ii) any such expansion project (including as a result of any project contracts entered into by the applicable Subsidiary of the Company with respect to such expansion project) (A) shall not, on a pro forma basis, for any calendar quarter during the remaining life of t...
Expansion Projects. (a) The capital expenditures set forth on Schedule 2.1 9(a) hereto are reasonably expected to be sufficient to maintain the Company's existing facilities in good working order through December 31, 2002.
(b) The Construction Budgets and Schedules of the respective Expansion Projects are attached hereto as Schedule 2.19(b) and have been prepared by the Company in good faith and based upon assumptions that are believed to be reasonable, and the Sellers have no knowledge of any fact or circumstance that will or is reasonably likely to cause the Expansion Projects not to be completed in accordance with such Construction Budgets and Schedules.
Expansion Projects. Between the date of the execution of this Agreement and the Closing Date, the Sellers shall cause the Company to:
(a) develop the Expansion Projects diligently in accordance with the applicable material contracts and permits and Budgets and Schedules for the Expansion Projects, not make any material changes to the Budgets and Schedules, and consult with the Buyers on a regular basis regarding same (including cooperating with reasonable requests by the Buyers);
(b) promptly notify the Buyers of, and reasonably consult with the Buyers on, any material event or circumstance that arises affecting any of the Expansion Projects;
(c) promptly deliver to the Buyers copies of any notices or correspondence received from, or provided to, any Governmental Authority or from any party to any contract which is material to the Expansion Projects; and
(d) without the prior consent of the Buyers (not to be unreasonably withheld or delayed), not enter into any material contract relating to the Expansion Projects except those contracts set forth on Schedule 4.18, and not grant any consent or waiver under, terminate, or amend any contract material to the Expansion Projects.
Expansion Projects. If an Expansion Project has occurred and all of the Members are not Expansion Participating Members, the Company shall determine (A) for each calendar month, the Expansion Net Income, which shall be allocated among Expansion Participating Members in accordance with their respective Expansion Sharing Ratios and (B) all items of depreciation and cost recovery related to Expansion Costs, which shall be specially allocated to the Expansion Participating Members in accordance with their Expansion Sharing Ratios.
Expansion Projects. With respect to each Expansion Project:
Expansion Projects. If an Expansion Project has occurred and all of the Members are not Expansion Participating Members in the same percentage as their Sharing Ratios, unless otherwise agreed to by the Company and the Members in connection with an Expansion Cash Call, the Company shall determine for each calendar month, Expansion Profits and Losses, which shall be allocated among Expansion Participating Members in accordance with their respective Expansion Sharing Ratios.
Expansion Projects. (a) ICWD shall undertake all system expansion projects for the Polk County System (“Expansion Services”) including the design, engineering and construction of Transmission Expansion Projects and Distribution Expansion Projects. Such Expansion Services shall be undertaken by ICWD under the oversight of the Joint Coordinating Committee in keeping with Good Utility Practices and in accordance with the rates, regulations and terms and conditions of service as established and adopted by Polk County.
(b) When developers or other third parties undertake to design and construct lines or other facilities to connect with the Polk County System, ICWD shall, on Polk County’s behalf, exercise all rights and powers of Polk County related to the review, inspection, permitting and approval of such projects. ICWD shall exercise these powers under the oversight of the Joint Coordinating Committee in keeping with Good Utility Practices.
(c) On occasion, economic development activities may require Polk County to seek the Expansion Services, including the design, engineering and construction of lines or other facilities to connect with the Polk County System. Upon the request of Polk County, ICWD shall undertake the design and construction of the project, provided that Polk County, or third-parties, pay the full cost of the design, engineering and construction of any such projects pursuant to the provisions of Section 7.04 to the extent that the costs of such projects exceed the amount that ICWD must invest in Transmission Expansion Projects pursuant to Section 7.02.
Expansion Projects. 16 SECTION 2.20.
Expansion Projects. Notwithstanding anything to the contrary contained in Section 17.1 of the Existing Production Agreement, Sterling’s share of any Capital Expenditures associated with any expansion of the rated daily output of the Unit that is approved by BP and the Company, including the 2005 Expansion Project, shall be ***%. For purposes of this Amendment, the term “2005 Expansion Project” means the potential capital project involving the replacement of process valves and the upgrading of internal piping that is expected to increase the capacity of the Unit anticipated to be implemented in 2005.
Expansion Projects. (a) ICWD shall undertake all system expansion projects for the Polk County System (“Expansion Services”) including the design, engineering and construction of Transmission Expansion Projects and Distribution Expansion Projects. Such Expansion Services shall be undertaken by ICWD under the oversight of the Joint Coordinating Committee in keeping with Good Utility Practices and in accordance with the rates, regulations and terms and conditions of service as established and adopted by Polk County.
(b) When developers or other third parties undertake to design and construct lines or other facilities to connect with the Polk County System, ICWD shall, on Polk County’s behalf, exercise all rights and powers of Polk County related to the review, inspection, permitting and approval of such projects. ICWD shall exercise these powers under the oversight of the Joint Coordinating Committee in keeping with Good Utility Practices.
(c) On occasion, economic development activities may require Polk County to seek the Expansion Services including the design and construction of lines or other facilities to connect with the Polk County System. Upon the request of Polk County, ICWD shall undertake the expansion project and exercise its powers consistent with Good Utility Practices.
