Expiration of Commitments. The obligations of the parties hereto shall expire on December 7, 2001, at 11:59 p.m., New York City time, if the Closing Date has not occurred on or before that date. Upon such expiration, the parties hereto shall have no obligation to consummate the transactions contemplated under this Agreement except as provided in SECTIONS 2.3, 10.1 and 10.2 and all obligations of the Lease Transaction Parties shall cease and terminate.
Appears in 3 contracts
Samples: Participation Agreement (Eme Homer City Generation Lp), Participation Agreement (Eme Homer City Generation Lp), Participation Agreement (Eme Homer City Generation Lp)
Expiration of Commitments. The obligations of the parties hereto shall expire on December 7, 2001, at 11:59 p.m., New York City time, if on September 30, 2000. If the Closing Date has not occurred on or before that date. Upon such expirationSeptember 30, 2000, the parties hereto shall have no obligation to consummate the transactions contemplated under this Agreement and, except as provided in SECTIONS 2.3, 10.1 14.1 and 10.2 and 14.2, all obligations of the Lease Transaction Financing Parties shall cease and terminate.
Appears in 2 contracts
Samples: Participation Agreement (Edison Mission Energy), Participation Agreement (Edison Mission Energy)
Expiration of Commitments. The obligations of the parties hereto shall expire on December 7, 2001, at 11:59 p.m., New York City time, if the Closing Date has not occurred on or before that date. Upon such expiration, the parties hereto shall have no obligation to consummate the transactions contemplated under this Agreement except as provided in SECTIONS 2.3, 10.1 and 10.2 and all obligations of the Lease Transaction Financing Parties shall cease and terminate.
Appears in 1 contract
Samples: Participation Agreement (Eme Homer City Generation Lp)
Expiration of Commitments. The obligations of the parties hereto shall expire on December 7, 2001, at 11:59 p.m., New York City time, if the Closing Date has not occurred on or before that date. Upon such expiration, the parties hereto shall have no obligation to consummate the transactions contemplated under this Agreement except as provided in SECTIONS Sections 2.3, 10.1 and 10.2 and all obligations of the Lease Transaction Parties shall cease and terminate.
Appears in 1 contract
Samples: Participation Agreement (Eme Homer City Generation Lp)
Expiration of Commitments. The obligations of the parties hereto shall expire on December 7, 2001, at 11:59 p.m., New York City time, if on February 28, 2000. If the Closing Date has not occurred on or before that date. Upon such expirationFebruary 28, 2000, the parties hereto shall have no obligation to consummate the transactions contemplated under this Agreement and, except as provided in SECTIONS 2.3, 10.1 14.1 and 10.2 and 14.2, all obligations of the Lease Transaction Financing Parties shall cease and terminate.
Appears in 1 contract
