Permanent Cessation of Operations Sample Clauses

Permanent Cessation of Operations. As of the Contract Date, the Nuclear Group consists of the Facility and the Nine Mile Facility. If, during the Contract Term, a Permanent Cessation of Operations occurs with respect to (a) the XxxxXxxxxxx Facility or (b) the Nine Mile Facility, then, NYSERDA shall make any payments due to such facility in accordance with obligations hereunder already performed by such facility. If a Permanent Cessation of Operations occurs with respect to the XxxxXxxxxxx Facility prior to the XxxxXxxxxxx Facility becoming part of the Nuclear Group, then, effective on the date of the facility’s Permanent Cessation of Operations, the Annual ZEC Cap Amount and the Tranche Cap Amount shall be modified in accordance with their respective definitions in Article I. If a Permanent Cessation of Operations occurs with respect to (a) the XxxxXxxxxxx Facility after the XxxxXxxxxxx Facility becomes part of the Nuclear Group or (b) the Nine Mile Facility, then effective on the date of the facility’s Permanent Cessation of Operations, the Annual ZEC Cap Amount and the Tranche Cap Amount shall be reduced by the Cessation ZEC Reduction Amount and Cessation Tranche Reduction Amount, respectively. For the purposes of this Section 5.2(b), the Permanent Cessation of Operations of either Unit 1 or Unit 2 of the Nine Mile Facility shall constitute the Permanent Cessation of Operations of the entire Nine Mile Facility;
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Permanent Cessation of Operations. 7.7.1 At any time during an Interruption of Operations, NWMO may deliver a Permanent Cessation Notice. NWMO shall make the following payments to the Municipality within sixty (60) days of delivery of the Permanent Cessation Notice: (a) the remainder of the payments that would otherwise be payable in the calendar year of delivery of the Permanent Cessation Notice; (b) if the Permanent Cessation Notice is delivered in the last six (6) months of a calendar year, fifty percent (50%) of the Annual Payment that is payable for the calendar year following the year in which the Permanent Cessation Notice is delivered; and (c) Committed Costs not included in the payments made under Section 7.7.1(a) and (b), not to exceed $6,000,000 in 2025 constant dollars in the aggregate. 7.7.2 Notwithstanding the foregoing, at any time after the conclusion of the first fifty (50) years of the Operations Phase, NWMO may deliver a Permanent Cessation Notice. No such further Operations Phase payments shall be made by NWMO. 7.7.3 NWMO shall not emplace any used nuclear fuel in the DGR after the end of the then-current calendar year in which the Permanent Cessation Notice is delivered to the Municipality. 7.7.4 Following delivery by NWMO of a Permanent Cessation Notice, the Anticipated Schedule and the Detailed Financial Benefits Table shall be adjusted on a year-for- year basis to account for the permanent cessation of operations, and NWMO shall make future payments of Financial Benefits to the Municipality pursuant to this Agreement in accordance with the revised Anticipated Schedule and Detailed Financial Benefits Table. For clarity, the Parties acknowledge and agree that any adjustments required to the Detailed Financial Benefit Table in accordance with this Section 7.7.4 shall be made using 2025 constant dollars.
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Permanent Cessation of Operations. PROMISEE may permanently discontinue mining operations on the Mineral Rights and the Property at any time after the commencement of Commercial Production when in its sole opinion no further mining operations can be economically carried out thereon. At such time PROMISEE shall sell or otherwise dispose of all mining plant and equipment used on the Mineral Rights and the Property, effect all reclamation work as required by law, and sell or otherwise dispose of the Mineral Rights and the Property as it thinks fit. Any purchaser of the Mineral Rights and the Property after the permanent termination of mining operations shall take the Mineral Rights and the Property subject to the rights and obligations relating to the Royalty and the Underlying Owner Royalty set out herein.
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Permanent Cessation of Operations. This Agreement shall terminate sixty days after permanent cessation of operations of Redhawk Units 1 and 2 unless APS and SRP, acting through the Coordinating Committee, and PWE, as owner of Redhawk, specifically agree to continue this Agreement in effect within that sixty day period. For purposes of this Agreement, a permanent cessation of operations for Redhawk Units 1 and 2 shall mean: (i) initiation of physical decommissioning activities at both units; (ii) written notice from PWE to APS and SRP confirming PWE's intention to permanently cease operation of both units; or (iii) failure to maintain all regulatory certifications and permits required for operation of at least one of Redhawk Units 1 and 2 and to keep at least one of Redhawk Units 1 and 2 in such condition that it is capable of being restored to active power production in not more than a 270 day period. If PWE permanently ceases operation of only one of Redhawk Units 1 and 2, this Agreement shall not terminate, but PWE's rights to Tolleson Effluent transferred under this Agreement shall be reduced to a quantity of 3,750 acre-feet per year, which shall thereafter be limited to use at the Redhawk unit (of Units 1 and 2) that has not permanently ceased operation.
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Permanent Cessation of Operations. TLGCC permanently stops conducting business activities or otherwise stops operating its clubhouse, golf course, or swimming pool on a permanent basis unless such stoppage is mandated or required by a governing agency or department or changes in State or Federal codes or laws that govern such activity.
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Related to Permanent Cessation of Operations

  • Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

  • SUSPENSION OF OPERATIONS Concessionaire shall, at the direction of Department, immediately suspend, delay or interrupt Concessionaire’s operation of all or any part of the Concession Premises for such period of time as Department may determine to be appropriate to protect the Concession Premises and/or public health, safety, and welfare due to the occurrence of hazardous work conditions, emergency conditions, and/or any other cause including, but not limited to, Concessionaire's failure to perform any of the covenants, agreements, and conditions contained in this Agreement on its part to be performed. Concessionaire hereby waives any claim, and Department shall not be liable to any party claiming through Concessionaire, for damages, payment abatement, or compensation as a result of Department's actions under this Paragraph or this Agreement. Department's suspension of Concessionaire's operations shall be in addition to any other right or remedy available by law or in equity.

  • Continuity of Operations Engage in any business activities substantially different than those in which Borrower is presently engaged, (2) cease operations, liquidate, merge, transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell Collateral out of the ordinary course of business, or (3) pay any dividends on Borrower's stock (other than dividends payable in its stock), provided, however that notwithstanding the foregoing, but only so long as no Event of Default has occurred and is continuing or would result from the payment of dividends, if Borrower is a "Subchapter S Corporation" (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of Borrower's stock, or purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • CONTINUITY OF OPERATION Section 1: No Strikes, Work Stoppages or Lockouts

  • Commencement of Operations The Partnership shall not begin operations on its Leases unless the Managing General Partner is satisfied that necessary title requirements have been satisfied.

  • Control of Operations Without in any way limiting any party’s rights or obligations under this Agreement, the parties understand and agree that (a) nothing contained in this Agreement shall give Parent or the Company, directly or indirectly, the right to control or direct the other party’s operations prior to the Effective Time and (b) prior to the Effective Time, each of the Company and Parent shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over its operations.

  • Statement of Operations Statement of Changes in Net Assets.

  • Change of Operations Uniforms To: Members of Local Union 295 Dear Brothers and Sisters: As you know, we have a tentative agreement for the UPS Cartage Services, Inc. Supplemental Agreement. Article 2 of the re-negoti- ated CSI Supplement outlines the National Master UPS Agreement (NMA) Articles that may be applied to your Addendum. You will note that several NMA articles are not applicable. These are sub- jects that are either addressed in the CSI Supplement or are not op- erationally applicable to CSI. Where there are two provisions covering the same subject, one in the Local Addendum and one in the National Master UPS Agree- ment, the following provisions of the National Master UPS Agree- ment shall apply:

  • PERIOD OF OPERATION Subject to certification, this Agreement shall come into force from the first pay period commencing on or after 1st December 2002 and shall remain in force until 31 October 2005.

  • Cessation A Person shall cease to be a General Partner upon the transfer of its entire interest in the Partnership or upon any event of withdrawal set forth in the Act. Upon the occurrence of any such event of withdrawal, such Person or its transferee shall have the right to receive distributions and allocations with respect to its Partnership interest, shall be treated as the transferee of a Limited Partner, and shall have the right to become a Substituted Limited Partner upon the unanimous written consent of the Limited Partners.

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