Modification of Project. The Company shall have the right at any time and from time to time during the Term hereof to undertake any of the following:
Modification of Project. (a) As long as no event of default exists hereunder, the Company shall have the right at any time and from time to time during the Term hereof to undertake any of the following:
(i) The Company may, at its own expense, add to the Project any real and personal property as the Company in its discretion deems useful or desirable.
(ii) In any instance where the Company in its discretion determines that any items included in the Project have become inadequate, obsolete, worn out, unsuitable, undesirable, or unnecessary for operations at the Project, the Company may remove such items or portions from the Project and sell, trade in, exchange, or otherwise dispose of them (as a whole or in part) without the consent of the County; as such may be permitted under the Simplified FILOT Act.
(iii) The Company may, at any time in its discretion by written notice to the County, remove any real or personal property from the Negotiated FILOT (as defined in Section 5.01) set forth in this Agreement, and thereafter such property will be considered Non-Qualifying Property and will be subject to FILOT Payments as set forth in Section 5.01(b)(i) hereof.
Modification of Project. The Company shall have the right at any time and from time to time during the Term hereof to undertake any of the following:
(i) The Company may renovate the Project and, in connection therewith, to the extent permitted by the Act, install Replacement Property in the Project. Notwithstanding anything in this Agreement to the contrary, the Company shall be entitled in its discretion from time to time to delete or remove any portions of the Project, or to add any (non-Project) property to the Plant as may be used in conjunction with the Project or otherwise.
(ii) In any instance where the Company in its discretion determines that any part of the Project, including without limitation any items of Equipment, have become inadequate, obsolete, worn out, unsuitable, undesirable or unnecessary for operations at the Plant, the Company may remove such part of the Project, including without limitation any items of Equipment, and sell, trade-in, exchange or otherwise dispose of them (as a whole or in part) without the consent of the County. No modification or disposition of the Project effected under the provisions of this Section shall by itself entitle the Company to any abatement or diminution of Additional Payments payable under Section
Modification of Project. (a) As long as no event of default exists hereunder, the Company shall have the right at any time and from time to time during the Term hereof to undertake any of the following:
(i) The Company may, at its own expense, add to the Project all such real and personal property as the Company in its discretion deems useful or desirable; provided, however, such real and personal property is located in the same taxing district as the Project. The Company may add Land to the Project by delivering to the County a new EXHIBIT “A” to this Agreement reflecting such addition.
(ii) In any instance where the Company in its discretion determines that any items included in the Project have become inadequate, obsolete, worn out, unsuitable, undesirable, or unnecessary for operations at the Project, the Company may remove such items or portions from the Project and sell, trade in, exchange, or otherwise dispose of them (as a whole or in part) without the consent of the County. The Company may sell, lease, or otherwise dispose of any portion of the Land, in which event the Company shall deliver to the County, within 30 days thereafter, a new EXHIBIT “A” to this Agreement.
(b) No release of Project property effected under the provisions of Section 7.01 or 7.02 hereof or of this Section 4.03 shall entitle the Company to any abatement or diminution of the amounts payable by the Company hereunder except the FILOT Payments as specified in Section 5.01(d) hereof.
Modification of Project. The Authority hereby agrees to operate the Project for the duration of this Operating Agreement. The Project shall only be used for radio service for public safety and other governmental uses for the benefit and convenience of the Users. User shall have the right to use the Project at all times herein mentioned at rates and charges established by the Authority, except as otherwise provided pursuant to Article V hereof. In order to effectively operate the Project, the Authority hereby agrees to maintain and preserve the Project in good repair and working order at all times and to operate the Project in an efficient and economical manner, and to pay all maintenance and operation costs of the Project as they become due and payable from available revenues. At all times during the term of this Operating Agreement the Authority shall hold title to the Project, including all additions which comprise fixtures, repairs, replacements or modifications thereto, except for such equipment as is owned by one or more Users or other governmental agencies and licensed to the Authority. Upon the termination of this Operating Agreement, all right, title and interest in and to the Project shall be retained by the Authority except as may be otherwise provided pursuant to licensing or other agreements. The User recognizes and acknowledges that the operation, control, ownership and management of the Project is at the complete and sole discretion of the Authority. Nothing in this Operating Agreement shall be construed to limit the Authority's discretion in management and operation of the Project. In connection therewith, User hereby consents to all steps or actions Authority has taken or may take which are necessary or appropriate for the authorization, issuance, sale and delivery of the Bonds. The Authority will make all reasonable effort to provide continuous service to the Users, but may temporarily discontinue or reduce service to one or more of the Users for the purpose of necessary investigation, inspection, maintenance, repair or replacement of any of the Project, or except as provided in Article V hereof. The Authority shall notify Users as far in advance as reasonably possible of any discontinuance or reduction of service, and the estimated duration of such discontinuance or reduction. Recognizing that the Users will rely on the Authority for uninterrupted service, the Authority agrees to use its best efforts throughout the term of this Operating Agreement to minimize any...
Modification of Project. The District shall, at its own expense, have the right to remodel the Project or to make additions, modifications and improvements thereto. All such additions, modifications and improvements shall thereafter comprise part of the Project and be subject to the provisions of this Installment Sale Agreement. Such additions, modifications and improvements shall not in any way damage the Project or cause it to be used for purposes other than those authorized under the provisions of state and federal law; and the Project, upon completion of any additions, modifications and improvements made pursuant to this Section 5.02, shall be of a value which is not substantially less than the value of the Project immediately prior to the making of such additions, modifications and improvements.
Modification of Project. (a) As long as no event of default exists hereunder, the Company shall have the right at any time and from time to time during the Term hereof to undertake any of the following:
(i) The Company may, at its own expense, add to the Project all such real and personal property as the Company in its discretion deems useful or desirable. The Company may add Land to the Project by delivering to the County a new EXHIBIT “A” to this Agreement reflecting such addition.
(ii) In any instance where the Company in its discretion determines that any items included in the Project have become inadequate, obsolete, worn out, unsuitable, undesirable, or unnecessary for operations at the Project, the Company may remove such items or portions from the Project and sell, trade in, exchange, or otherwise dispose of them (as a whole or in part) without the consent of the County. The Company may sell, lease, or otherwise dispose of any portion of the Land, in which event the Company shall deliver to the County, within 30 days thereafter, a new EXHIBIT “A” to this Agreement.
(b) No release of Project property effected under the provisions of Section 7.01 or 7.02 hereof or of this Section 4.03 shall entitle the Company to any abatement or diminution of the amounts payable by the Company hereunder except the FILOT Payments as specified in Section 5.01(d) hereof.
Modification of Project. (a) As long as no Event of Default exists hereunder, the Company and any Co- Investor shall have the right at any time and from time to time during the Term hereof to undertake any of the following:
(1) The Company and each other Co-Investor may, at its own expense, add to the Project any real and personal property as the Company or other Co- Investor in its discretion deems useful or desirable.
(2) In any instance where the Company or any other Co-Investor, in its discretion, determines that any items included in the Project have become inadequate, obsolete, worn out, unsuitable, undesirable, or unnecessary for operations at the Project, the Company or such other Co-Investor may remove such items or portions from the Project and sell, trade in, exchange, or otherwise dispose of them (as a whole or in part) without the consent of any County; as such may be permitted under the Simplified FILOT Act.
(3) The Company and any other Co-Investor may, at any time in its discretion, remove any real or personal property from the Negotiated FILOT set forth in this Agreement, and thereafter such property will be considered Non- Qualifying Property and will be subject to FILOT Payments as set forth in Section 5.01(b)(1) hereof.
Modification of Project. Both parties recognize that the program of research set forth in Exhibit A may have to be modified as research results indicate that changes in emphasis of direction are appropriate. Modifications may be agreed to at any time and from time to time by Sponsor's President and the person designated by Contractor pursuant to Section 11 to maintain liaison with Sponsor's President. Any modification may be oral unless one of the persons agreeing to the modification requests that it be in writing.
Modification of Project. (a) As long as no event of default exists hereunder, the Company shall have the right at any time and from time to time during the Term hereof to undertake any of the following:
(i) The Company may, at its own expense, add to the Project all such real and personal property as the Company in its discretion deems useful or desirable.
(ii) In any instance where the Company in its discretion determines that any items included in the Project have become inadequate, obsolete, worn out, unsuitable, undesirable, or unnecessary for operations at the Project, the Company may remove such items or portions from the Project and sell, trade in, exchange, or otherwise dispose of them (as a whole or in part) without the consent of the County. The Company may sell, lease, or otherwise dispose of any portion of the Land, in which event the Company shall deliver to the County, within 30 days thereafter, a new EXHIBIT “A” to this Agreement.
(b) No release of Project property effected under the provisions of Section 7.01 or 7.02 hereof or of this Section 4.03 shall entitle the Company to any abatement or diminution of the amounts payable by the Company hereunder except the FILOT payments as specified in Section 5.01(d) hereof.
