Pre Operational Period Sample Clauses

Pre Operational Period. FirstCity BLC covenants and agrees that from and after the Effective Date until the Closing Date it will make available to Purchaser advances in the form of working capital loans (“Working Capital Loans”) under a line of credit in an aggregate outstanding amount of not less than $325,000 on terms and conditions satisfactory to Seller. Notwithstanding the foregoing, (i) in the event that Purchaser receives written notice from the SBA of the rejection of its application for approval as an SBA lender or (ii) Purchaser’s application to become an SBA lender has not been approved or rejected by September 30, 2006, and in each case of subclauses (i) and (ii) such rejection or failure to obtain approval is not due directly or indirectly to FirstCity BLC’s or its officers’ failure to meet the conditions set forth in the Code of Federal Regulations, Title 13, Section 120-140 or FirstCity BLC’s failure to cooperate with the SBA or diligently pursue SBA approval, subject to Section 8.1 (Termination of Agreement), Sellers jointly covenant and agree to pay to FirstCity BLC an amount (the “Pre-Operational Period Termination Payment”) equal to fifty percent (50%) of the Purchaser’s actual operating expenses that are incurred in accordance with the Purchaser Pre-Operational Budget attached hereto as Exhibit 4.1 during the period from the Effective Date and ending on the earlier of the date that Purchaser receives written notice from the SBA of the rejection of its application as an SBA lender, or September 30, 2006. All amounts outstanding under the Working Capital Loans will be repaid on the Closing Date from the proceeds of the equity contributions under Section 4.14 of this Agreement.
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Pre Operational Period 
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Related to Pre Operational Period

  • Transitional Period At the end of the transitional period as defined in Article 10(2) of the Directive, the contracting parties shall cease to apply the withholding/retention tax and revenue sharing provided for in this Agreement and shall apply in respect of the other contracting party the automatic exchange of information provisions in the same manner as is provided for in Chapter II of the Directive. If during the transitional period either of the contracting parties elects to apply the automatic exchange of information provisions in the same manner as is provided for in Chapter II of the Directive it shall no longer apply the withholding/retention tax and the revenue sharing provided for in Article 9 of this Agreement.

  • Meal Period Employees shall receive a meal period which shall commence no less than two (2) hours nor more than five (5) hours from the beginning of the employee's regular shift or when the employee is called in to work on their regular day off. The meal period shall be no less than one-half (½) hour nor more than one (1) hour in duration and shall be without compensation. Should an employee be required to work in excess of five (5) continuous hours from the commencement of their regular shift without being provided a meal period, the employee shall be compensated two (2) times the employee's straight-time hourly rate of pay for the time worked during their normal meal period and be afforded a meal period at the first available opportunity during working hours without compensation.

  • Ongoing Operations From the Effective Date through Closing:

  • 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.

  • Transition Period Due to the nature of our purchasing process, the District often requires an existing service provider to continue to provide goods and/or services while the District is in the process of advertising, evaluating, and awarding a contract for the provision of the same goods and/or services in the future. To accommodate this process, the Contractor shall agree to maintain the same terms and conditions set forth in this Agreement for a period up to ninety (90) days after the automatic termination of this Agreement at the end of its term, if requested by the District, as a transition period. In addition, if the Contractor is not the successful bidder for a future solicitation for the same or similar services, he or she shall agree to provide the same goods and/or services provided in this Agreement for a period up to ninety (90) days to allow for an orderly transition to the new provider. The District and the Contractor may mutually agree to a longer transition period.

  • Co-operation Each Party acknowledges that this ESA must be approved by the Department and agree that they shall use Commercially Reasonable efforts to cooperate in seeking to secure such approval.

  • Continuing Operation Except as specifically provided in this Section 10, the termination of Executive's employment or of this Agreement shall have no effect on the continuing operation of this Section 10.

  • Billing Period The calendar month shall be the standard period for all charges and payments under this Agreement. On or before the fifteenth (15th) day following the end of each month, Seller shall render to Buyer an invoice for the payment obligations incurred hereunder during the preceding month, based on the Energy Delivered in the preceding month, and any RECs deposited in Buyer’s GIS account or a GIS account designated by Buyer to Seller in writing in the preceding month. Such invoice shall contain supporting detail for all charges reflected on the invoice, and Seller shall provide Buyer with additional supporting documentation and information as Buyer may request.

  • Xxxxx Period After payment of the first Dues, the Subscriber is entitled to a grace period of 30 days for the payment of any Dues due. During this grace period, the Agreement will remain in force. However, the Subscriber will be liable for payment of Dues accruing during the period the Agreement continues in force.

  • Continued Operation In the event of a Breach or Default by either Interconnected Entity, and subject to termination of the Interconnection Service Agreement under Section 16 of this Appendix 2, the Interconnected Entities shall continue to operate and maintain, as applicable, such DC power systems, protection and Metering Equipment, telemetering equipment, SCADA equipment, transformers, Secondary Systems, communications equipment, building facilities, software, documentation, structural components, and other facilities and appurtenances that are reasonably necessary for Transmission Provider and the Interconnected Transmission Owner to operate and maintain the Transmission System and the Transmission Owner Interconnection Facilities and for Interconnection Customer to operate and maintain the Customer Facility and the Customer Interconnection Facilities, in a safe and reliable manner.

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