LEED Silver Rating Sample Clauses

LEED Silver Rating. (a) Project Co shall cause the Project to be registered with CaGBC. Project Co shall verify that the Project is registered with CaGBC within 60 days following Financial Close and confirm to the CTC that Project Co is satisfied that the registration is valid, and is effective as of the date it was made. (b) If there is a change in the requirements for achievement of LEED Silver Rating under the LEED Rating System, and Project Co is required by the CaGBC to comply with such change, then Project Co shall notify the CTC of such change and such change shall, subject to and in accordance with Schedule 22 – Variation Procedure, result in a Variation. (c) Project Co shall apply to the CaGBC to obtain LEED Silver Rating for the Facility as soon as possible. (d) In the event that LEED Silver Rating is not obtained by 24 months after the Substantial Completion Date, other than as a direct result of any act or omission of the CTC or any CTC Party, the CTC shall be entitled to be paid liquidated damages by Project Co in the amount of [REDACTED]. The Parties agree that such liquidated damages are not a penalty but represent a genuine and reasonable pre-estimate of the damages that the CTC will suffer as a result of LEED Silver Rating not being obtained by the date that is 24 months after the Substantial Completion Date and would be difficult or impossible to quantify upon the happening of such event. Such payment shall constitute full and final settlement of any and all damages that may be claimed by the CTC as a result of a failure by Project Co to achieve LEED Silver Rating and, for greater certainty, a failure by Project Co to achieve LEED Silver Rating shall not result in a Project Co Event of Default. The Parties agree that such liquidated damages shall be payable whether or not the CTC incurs or mitigates its damages, and that the CTC shall not have any obligation to mitigate any such damages. For clarity, Project Co’s failure to achieve a LEED Silver Rating on any one or more of the Brampton Facility, the Mississauga Facility and the Oakville Facility shall give rise to a CTC right to claim the full amount of
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LEED Silver Rating. (a) Project Co shall register the Project with CaGBC within 60 days following Financial Close. (b) If, after application for registration of the Project is made in accordance with Section 22.4(a), there is a change in the requirements for achievement of LEED Silver Rating under the LEED Rating System, and Project Co is required by the CaGBC to comply with such change, then Project Co shall notify IO of such change and such change shall, subject to and in accordance with Schedule 19 - Variation Procedure, result in a Variation. (c) Project Co shall apply to the CaGBC to obtain LEED Silver Rating for the Facility as soon as possible. (d) In the event that: (i) Project Co fails to obtain the required credits pursuant to Part 5 of Part A of Schedule 12 – Output Specifications; or (ii) LEED Silver Rating is not obtained within 24 months after the Substantial Completion Date, other than as a direct result of any act or omission of IO or any IO Party, Project Co shall pay to IO liquidated damages in the amount of [REDACTED]. The Parties agree that such liquidated damages are not a penalty but represent a genuine and reasonable pre- estimate of the damages that IO will suffer as a result of the happening of either of the specified events and would be difficult or impossible to quantify upon the happening of either of the specified events. Such payment shall constitute full and final settlement of any and all damages that may be claimed by IO as a result of a failure by Project Co to obtain the required credits pursuant to Part 5 of Part A of Schedule 12 – Output Specifications or to achieve LEED Silver Rating and, for greater certainty, a failure by Project Co to obtain any of the mandatory prerequisites or credits set out in Section 22.2 or to achieve LEED Silver Rating shall not result in a Project Co Event of Default. The Parties agree that such liquidated damages shall be payable whether or not IO incurs or mitigates its damages, and that IO shall not have any obligation to mitigate any such damages.
Sample 1

Related to LEED Silver Rating

  • Moody’s Xxxxx’x Investors Service, Inc. and its successors.

  • Credit Rating With respect to the Competitive Supplier or Competitive Supplier’s Guarantor, its senior unsecured, unsubordinated long-term debt rating, not supported by third party credit enhancement, and if such debt is no longer rated, then the corporate or long-term issuer rating of Competitive Supplier or Competitive Supplier’s Guarantor.

  • Insurance Carrier Rating Coverages provided by Contractor must be underwritten by an insurance company deemed acceptable to the State of Washington’s Office of Risk Management. Insurance coverage shall be provided by companies authorized to do business within the State of Washington and rated A- Class VII or better in the most recently published edition of Best’s Insurance Rating. Enterprise Services reserves the right to reject all or any insurance carrier(s) with an unacceptable financial rating.

  • Credit Ratings Use commercially reasonable efforts to maintain at all times (a) a credit rating by each of S&P and Xxxxx’x in respect of the Term Facility and (b) a public corporate rating by S&P and a public corporate family rating by Xxxxx’x for the Borrower, in each case with no requirement to maintain any specific minimum rating.

  • Required Ratings The Offered Certificates shall have received Required Ratings of at least [ ] from [ ].

  • Ratings No “nationally recognized statistical rating organization” as such term is defined for purposes of Rule 436(g)(2) (i) has imposed (or has informed the Company that it is considering imposing) any condition (financial or otherwise) on the Company’s retaining any rating assigned to the Company or any securities of the Company or (ii) has indicated to the Company that it is considering any of the actions described in Section 7(c)(ii) hereof.

  • Rating The Notes can be issued without the requirement that they have any rating from a nationally recognized statistical rating organization.

  • Industry Ratings The City will only accept coverage from an insurance carrier who offers proof that it: a. Is authorized to do business in the State of Kansas; b. Carries a Best's policyholder rating of A- or better; and c. Carries at least a Class VIII financial rating; or d. Is a company mutually agreed upon by the City and Consulting Engineer/Architect.

  • Level 4 If the Employee is not satisfied with the response of the Assistant Superintendent for Administrative Services, the Employee may submit the grievance to the Superintendent within ten (10) days of the receipt of the response to Level 3. The Superintendent shall sign and date all copies when he/she receives them. The Superintendent shall respond in writing within ten (10) days of the above date. Either party may be accompanied by one other Employee or administrator.

  • Special Notices to Rating Agencies (a) The Trustee shall give prompt notice to each Rating Agency of the occurrence of any of the following events of which it has notice: (i) any amendment to this Agreement pursuant to Section 10.01(a); (ii) any sale or transfer of the Class B Certificates pursuant to Section 5.02 to an affiliate of the Seller; (iii) any assignment by the Master Servicer of its rights and delegation of its duties pursuant to Section 6.06; (iv) any resignation of the Master Servicer pursuant to Section 6.04; (v) the occurrence of any of the Events of Default described in Section 7.01; (vi) any notice of termination given to the Master Servicer pursuant to Section 7.01; (vii) the appointment of any successor to the Master Servicer pursuant to Section 7.05; or (viii) the making of a final payment pursuant to Section 9.01. (b) The Master Servicer shall give prompt notice to each Rating Agency of the occurrence of any of the following events: (i) the appointment of a Custodian pursuant to Section 2.02; (ii) the resignation or removal of the Trustee pursuant to Section 8.08; (iii) the appointment of a successor trustee pursuant to Section 8.09; or (iv) the sale, transfer or other disposition in a single transaction of 50% or more of the equity interests in the Master Servicer. (c) The Master Servicer shall deliver to each Rating Agency: (i) reports prepared pursuant to Section 3.05; and (ii) statements prepared pursuant to Section 4.04.

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