General Conditions Applicable to Option Sample Clauses

General Conditions Applicable to Option. In addition to the other terms and conditions applicable to the construction of facilities under this Appendix 2, the Option to Build is subject to the following conditions: (a) If the Interconnection Customer assumes responsibility for the design, procurement and construction of Transmission Owner Interconnection Facilities that are Transmission Owner Attachment Facilities and Direct Connection Network Upgrades: (i) Interconnection Customer shall engineer, procure equipment, and construct Transmission Owner Interconnection Facilities that are Transmission Owner Attachment Facilities and Direct Connection Network Upgrades (or portions thereof) using Good Utility Practice and using standards and specifications provided in advance by Transmission Owner; (ii) Interconnection Customer’s engineering, procurement and construction of Transmission Owner Interconnection Facilities that are Transmission Owner Attachment Facilities and Direct Connection Network Upgrades shall comply with all requirements of law to which Interconnected Transmission Owner shall be subject in the engineering, procurement or construction of Interconnected Transmission Owner Interconnection Facilities that are Transmission Owner Attachment Facilities and Direct Connection Network Upgrades; (iii) Interconnected Transmission Owner shall review and approve engineering design, equipment acceptance tests, and the construction of Interconnected Transmission Owner Interconnection Facilities that are Transmission Owner Attachment Facilities and Direct Connection Network Upgrades; (iv) Prior to commencement of construction, Interconnection Customer shall provide to Interconnected Transmission Owner a schedule for construction of Transmission Owner Interconnection Facilities that are Transmission Owner Attachment Facilities and Direct Connection Network Upgrades and shall promptly respond to requests for information from Transmission Owner; (v) At any time during construction, Interconnected Transmission Owner shall have the right to gain unrestricted access to Transmission Owner Interconnection Facilities that are Transmission Owner Attachment Facilities and Direct Connection Network Upgrades and to conduct inspections of the same; (vi) At any time during construction, should any phase of the engineering, equipment procurement, or construction of Transmission Owner Interconnection Facilities that are Transmission Owner Attachment Facilities that are Transmission Owner Attachment Facilities and Dir...
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General Conditions Applicable to Option. In addition to the other terms and conditions applicable to the construction of facilities under this Appendix III, the Option to Build is subject to the following conditions: (a) The New Service Customer must obtain or arrange to obtain all necessary permits and authorizations for the construction and installation of the Direct Assignment Facilities or Customer-Funded Upgrades that it is building, provided, however, that when the Transmission Owner’s assistance is required, the Transmission Owner shall assist the New Service Customer in obtaining such necessary permits or authorizations with efforts similar in nature and extent to those that the Transmission Owner typically undertakes in acquiring permits and authorizations for construction of facilities on its own behalf; (b) The New Service Customer must obtain all necessary land rights for the construction and installation of the Direct Assignment Facilities or Customer-Funded Upgrades that it is building, provided, however, that upon New Service Customer’s reasonable request, the Transmission Owner shall assist the New Service Customer in acquiring such land rights with efforts similar in nature and extent to those that the Transmission Owner typically undertakes in acquiring land rights for construction of facilities on its own behalf; (c) Notwithstanding anything stated herein, each Transmission Owner shall have the exclusive right and obligation to perform the line attachments (tie-in work), and to calibrate remote terminal units and relay settings, required for the interconnection to such Transmission Owner’s existing facilities of any Direct Assignment Facilities or Customer-Funded Upgrades that the New Service Customer builds; and (d) The Direct Assignment Facilities or Customer-Funded Upgrades built by the New Service Customer shall be successfully inspected, tested and energized pursuant to Sections 19 and 20 of this Appendix III.
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General Conditions Applicable to Option. In addition to the other terms and conditions applicable to the construction of facilities under this Xxxxxxxx 0XXX, the Option to Build is subject to the following conditions:
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Related to General Conditions Applicable to Option

  • General Conditions (i) Each party will make each payment or delivery specified in each Confirmation to be made by it, subject to the other provisions of this Agreement. (ii) Payments under this Agreement will be made on the due date for value on that date in the place of the account specified in the relevant Confirmation or otherwise pursuant to this Agreement, in freely transferable funds and in the manner customary for payments in the required currency. Where settlement is by delivery (that is, other than by payment), such delivery will be made for receipt on the due date in the manner customary for the relevant obligation unless otherwise specified in the relevant Confirmation or elsewhere in this Agreement. (iii) Each obligation of each party under Section 2(a)(i) is subject to (1) the condition precedent that no Event of Default or Potential Event of Default with respect to the other party has occurred and is continuing, (2) the condition precedent that no Early Termination Date in respect of the relevant Transaction has occurred or been effectively designated and (3) each other applicable condition precedent specified in this Agreement.

  • General Conditions; Definitions 1.01. The General Conditions (as defined in the Appendix to this Agreement) constitute an integral part of this Agreement. 1.02. Unless the context requires otherwise, the capitalized terms used in this Agreement have the meanings ascribed to them in the General Conditions or in the Appendix to this Agreement.

  • Conditions Applicable to All Sale and Purchase Transactions (a) Any transaction effected under this Article XII or in connection with the acquisition, disposition or substitution of any Asset shall be conducted on an arm’s length basis and, if effected with an Affiliate of the Collateral Manager (or with an account or portfolio for which the Collateral Manager or any of its Affiliates serves as investment adviser), shall be effected in accordance with the requirements of Section 5 of the Collateral Management Agreement on terms no less favorable to the Issuer than would be the case if such Person were not an Affiliate of the Collateral Manager; provided that the Trustee shall have no responsibility to oversee compliance with this clause (a) by the other parties. Any sale of a Collateral Obligation or an Equity Security (other than a Substitute Collateral Obligation) to the Collateral Manager, an Affiliate of the Collateral Manager or an Affiliate of the Issuer shall be at a purchase price at least equal to the current Fair Market Value of such Collateral Obligation or Equity Security and certified by the Collateral Manager to the Trustee. (b) Upon any acquisition of a Collateral Obligation pursuant to this Article XII, all of the Issuer’s right, title and interest to the Asset or Assets shall be Granted to the Trustee pursuant to this Indenture, such Asset or Assets shall be Delivered to the Custodian, and, if applicable, the Custodian shall receive such Asset or Assets. The Trustee shall also receive, not later than the Cut-Off Date, an Officer’s certificate of the Issuer containing the statements set forth in Section 3.1(a)(viii); provided that such requirement shall be satisfied, and such statements shall be deemed to have been made by the Issuer, in respect of such acquisition by the delivery to the Trustee of a trade ticket in respect thereof that is signed by a Responsible Officer of the Collateral Manager. (c) Notwithstanding anything contained in this Article XII or Article V to the contrary, in addition to the rights described herein, the Issuer shall have the right to effect any sale of any Asset or purchase of any Collateral Obligation and ORCC shall have the right to exercise any optional purchase or substitution rights with the consent of Holders evidencing at least 75% of the Aggregate Outstanding Amount of each Class of Securities (and notice to the Trustee and the Rating Agency). (d) Notwithstanding anything contained in this Article XII or Article V to the contrary, upon the occurrence and during the continuance of an Enforcement Event, the Issuer shall not have the right to effect any sale of any Asset or purchase of any Collateral Obligation and ORCC shall not exercise any optional purchase or substitution rights, in each case without the consent of a Majority of the Controlling Class.

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