Options Prior to Dissolution upon Expiration or Termination of the LSA Sample Clauses

Options Prior to Dissolution upon Expiration or Termination of the LSA. (a) In the event ELC receives notice during the Primary Term of the LSA the LSA in whole or in part is scheduled to be terminated other than as a result of (i) a termination of the LSA by SNALNG under Section 5.01(f) of the LSA in circumstances giving rise to a Design Failure Dissolution Event or (ii) an Event of Default by SNALNG, on or subsequent to *** of the Liquefaction Threshold Date as defined in the LSA where such termination is associated with the production of the Phase I and Phase II ELC Facilities in aggregate or the Phase II ELC Facilities only; *** the Shell Member first and, absent the Board’s decision to find another use for the ELC Facilities affected by the termination or partial termination of the LSA, then the Xxxxxx Xxxxxx Member (each potentially a “Purchasing Member”), upon election by such Purchasing Member and acceptance by Company of a Primary Term Option Notice (as defined below) shall have the option to purchase and remove the Phase I ELC Facilities (as a group) and/or the Phase II ELC Facilities (as a group), that are affected by the LSA termination or partial termination, as applicable. Such ELC Facilities to be purchased shall include the MMLS Units and any and all appurtenant and ancillary facilities that are used in conjunction with the operation of the MMLS Units which are not needed by the Company to sufficiently operate the remaining ELC Facilities that are not being purchased, if any ELC Facilities are to remain with Company. ***.
Sample 1Sample 2
AutoNDA by SimpleDocs

Related to Options Prior to Dissolution upon Expiration or Termination of the LSA

  • Dissolution Upon Expiration Date Unless earlier dissolved, the Trust shall automatically dissolve on July 30, 2040 (the “Expiration Date”), and the Trust Property shall be liquidated in accordance with Section 9.4.

  • Termination Upon or Following a Change of Control (a) A Change of Control of the Company ("Change of Control") shall be deemed to have occurred upon the happening of any of the following events:

  • Termination Upon Expiration Date The Trust shall automatically terminate on December 31, 20__ (the "Expiration Date") or earlier pursuant to Section 9.02.

  • Action Upon Termination (a) From and after the effective date of termination of this Agreement, pursuant to Sections 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:

  • Action upon Termination or Removal Promptly upon the effective date of termination of this Agreement pursuant to Section 8, or the removal or resignation of the Administrator pursuant to Section 8, the Administrator shall be entitled to be paid by the Servicer all fees accruing to it to the date of such termination or removal.

  • Dissolution or Termination Any particular Series shall be dissolved upon the occurrence of the applicable dissolution events set forth in Article VIII, Section 1 hereof. Upon dissolution of a particular Series, the Trustees shall wind up the affairs of such Series in accordance with Article VIII Section 1 hereof and thereafter, rescind the establishment and designation thereof. The Board of Trustees shall terminate any particular Class and rescind the establishment and designation thereof: (i) upon approval by a majority of votes cast at a meeting of the Shareholders of such Class, provided a quorum of Shareholders of such Class are present, or by action of the Shareholders of such Class by written consent without a meeting pursuant to Article V, Section 3; or (ii) at the discretion of the Board of Trustees either (A) at any time there are no Shares outstanding of such Class, or (B) upon prior written notice to the Shareholders of such Class; provided, however, that upon the rescission of the establishment and designation of any particular Series, every Class of such Series shall thereby be terminated and its establishment and designation rescinded. Each resolution of the Board of Trustees pursuant to this Section 6(i) shall be incorporated herein by reference upon adoption.

  • Termination Upon Change of Control Notwithstanding anything to the contrary herein, this Agreement (excluding any then-existing obligations) shall terminate upon (a) the acquisition of the Company by another entity by means of any transaction or series of related transactions to which the Company is party (including, without limitation, any stock acquisition, reorganization, merger or consolidation but excluding any sale of stock for capital raising purposes) other than a transaction or series of transactions in which the holders of the voting securities of the Company outstanding immediately prior to such transaction continue to retain (either by such voting securities remaining outstanding or by such voting securities being converted into voting securities of the surviving entity), as a result of shares in the Company held by such holders prior to such transaction, at least fifty percent (50%) of the total voting power represented by the voting securities of the Corporation or such surviving entity outstanding immediately after such transaction or series of transactions; or (b) a sale, lease or other conveyance of all substantially all of the assets of the Company.

  • Effects of Expiration or Termination Upon expiration or termination of this Agreement for any reason:

  • Events Causing Dissolution Subject to Section 9.2, the Company shall be dissolved upon the first of the following events to occur:

  • Consequences of Expiration or Termination All of the following effects of expiration or termination, as applicable, are in addition to the other rights and remedies that may be available to the Parties at law or in equity.

Time is Money Join Law Insider Premium to draft better contracts faster.