Priority in Payment Sample Clauses

Priority in Payment. The Financier shall have priority over Host with respect to payments owed by CVEC except as expressly set forth in this subsection. Notwithstanding the foregoing, CVEC and Host agree that the terms of any financing for CVEC’s purchase of the PV System will establish that Host shall have first priority over Financier in Host’s share of the Net Metering Credits received by CVEC for the amount of Net Energy generated by the PV System pursuant to this Agreement provided that the corresponding Net Energy payment has been made to, or otherwise received by, CVEC.
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Priority in Payment. The Financier shall have priority over Host Town with respect to payments owed by Cooperative except as expressly set forth in this subsection. Notwithstanding the foregoing, Cooperative and Host Town agree that the terms of any financing for Cooperative’s purchase of the PV System will establish that Host Town shall have first priority over Financier in Host Town’s share of the Net Metering Credits received by the Cooperative for the amount of Net Energy generated by the PV System pursuant to the Cooperative Power Sales Agreement provided that the corresponding Net Energy payment has been made to, or otherwise received by, the Cooperative.
Sample 1

Related to Priority in Payment

  • Priority If the Managing Underwriter or Underwriters of any proposed Underwritten Offering of Common Units included in an Underwritten Offering involving Included Registrable Securities advises the Partnership that the total amount of Common Units that the Selling Holders and any other Persons intend to include in such offering exceeds the number that can be sold in such offering without being likely to have an adverse effect on the price, timing or distribution of the Common Units offered or the market for the Common Units, then the Common Units to be included in such Underwritten Offering shall include the number of Registrable Securities that such Managing Underwriter or Underwriters advises the Partnership can be sold without having such adverse effect, with such number to be allocated (i) first, to the Partnership and (ii) second, pro rata among the Selling Holders who have requested participation in such Underwritten Offering and any other holder of securities of the Partnership having rights of registration that are neither expressly senior nor subordinated to the Registrable Securities (the “Parity Securities”). The pro rata allocations for each Selling Holder who has requested participation in such Underwritten Offering shall be the product of (a) the aggregate number of Registrable Securities proposed to be sold in such Underwritten Offering multiplied by (b) the fraction derived by dividing (x) the number of Registrable Securities owned on the Closing Date by such Selling Holder by (y) the aggregate number of Registrable Securities owned on the Closing Date by all Selling Holders plus the aggregate number of Parity Securities owned on the Closing Date by all holders of Parity Securities that are participating in the Underwritten Offering.

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