Project Relocation Payment Sample Clauses

Project Relocation Payment. If IAE chooses, in its sole discretion, to develop a gcothermal power project at a location other than the Truckhaven Resource Area utilizing the LADWP PPA (assuming LADWP allows the use of the PPA at another geothermal resource location), or an Alternate PPA, LEA shall receive a single lump sum payment equal to 67% of the Commissioning Payment that would otherwise be due LEA under subparagraph (a) above if the LADWP Project or an Alternate Project had been successfully developed at the Truckhaven Resource Area, to be paid to LEA from the proceeds of the permanent or take-out financing for such other project in lieu of the payments provided for in subparagraphs (a) an (b) of this paragraph. Such alternative payment, if any, shall be conditioned upon LEA's full cooperation in any effort IEA may undertake to move the LADWP PPA or any Alternate PPA to a location other than the Truckhaven Resource Area, and the timely performance of LEA's obligations under the other provisions of this Agreement. If IAE succeeds in obtaining a power purchase agreement based on its planned use of some or all of the LEA Resource Area and then determines, in its sole discretion, not to develop either the LADWP Project or an Alternate Project at a location other than the Truckhaven Resource Area, LEA shall have the option, but not the obligation, of receiving an assignment of the LADWP PPA or the Alternate PPA, as the case may be, from IAE (to the extent LADWP or the Alternate Power Purchaser will permit such an assignment) upon payment to IAE of 67% of the XXX Xxx Res Sale Agrmnt Rev3 LEA +MJ response 13 Dec'04 Commissioning Payment that would otherwise be payable to LEA under subparagraph (a) above if the LADWP Project or an Alternate Project had been successfully developed at the Truckhaven Resource Area. If LEA fails to exercise the option granted hereunder or to pay the required 67% of the Commissioning Payment to IAE within 6 (six) months of the date IAE notifies LEA in writing that it no longer wishes to develop a power project utilizing the LADWP PPA or the Alternate PPA, the option shall expire and IAE may sell, assign or seek cancellation of the PPA as it sees fit.
Sample 1
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Related to Project Relocation Payment

  • Retention Payment If Employee remains employed by Company or its subsidiaries on the first anniversary of the Closing Date, then Company shall pay to Employee in a lump sum within five (5) business days thereafter, an amount equal to $460,000 (the “Retention Payment”).

  • Separation Payment Except with respect to the Accrued Benefits as defined in the Employment Agreement, if you sign this Agreement, agreeing to be bound by the General Release in Paragraph 3 below and the other terms and conditions of this Agreement described below, and comply with the requirements of this Paragraph 2 (other than the Accrued Benefits), you will receive the compensation and benefits as contemplated by the Employment Agreement. You will not be eligible for the payment and benefits described in this Paragraph 2 unless: (i) you sign this Agreement no later than twenty-one (21) days after you receive it, promptly return the Agreement to the Company after you sign it, and do not timely revoke it; and (ii) you have returned all Company property and documents in accordance with Paragraph 15 below.

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Down Payment The Mortgagor has contributed at least 5% of the purchase price for the Mortgaged Property with his/her own funds.

  • Post-Closing Access In order to facilitate Seller’s efforts to administer and close the Bankruptcy Case (including, without limitation, the preparation of filings in the Bankruptcy Case and state, local and federal Tax Returns and other filings, reconciliation of claims filed in the Case, removal of corporate and other records and information relating or belonging to entities other than Seller), for a period of three (3) years following the Closing, (a) the Buyer shall permit Seller’s counsel and other professionals and counsel for any successor to Seller and its respective professionals, and its employees (collectively, “Permitted Access Parties”) reasonable access to the financial and other books and records relating to the Acquired Assets or the Business and the systems containing such information, books and records, which access shall include (i) the right of such Permitted Access Parties to copy, at such Permitted Access Parties’ expense, such documents and records as they may request in furtherance of the purposes described above, and (ii) Buyer’s copying and delivering to the relevant Permitted Access Parties such documents or records as they may request, but only to the extent such Permitted Access Parties furnish Buyer with reasonably detailed written descriptions of the materials to be so copied and the applicable Permitted Access Party reimburses the Buyer for the reasonable costs and expenses thereof, and (b) Buyer shall provide the Permitted Access Parties (at no cost to the Permitted Access Parties) with reasonable access to those individuals with knowledge of how to access the relevant financial and books and records during regular business hours to assist Seller and the other Permitted Access Parties in their post-Closing activities (including, without limitation, preparation of Tax Returns), provided that such access does not unreasonably interfere with the Buyer’s business operations.

  • Disbursement of Tenant Improvement Allowance During the construction of the Tenant Improvements, Landlord shall make monthly disbursements of the Tenant Improvement Allowance for Tenant Improvement Allowance Items for the benefit of Tenant and shall authorize the release of monies for the benefit of Tenant as follows.

  • Retention Payments (a) In the event that Executive is employed by the Company on January 1, 2002, Executive shall be entitled to a lump sum cash retention payment equal to 150% of the sum of (i) Executive's Base Salary and (ii) Executive's target annual bonus, each as in effect for the 2001 fiscal year (such sum, the "2002 Retention Bonus").

  • Construction Management Fee In connection with the Construction Projects, on a project by project basis, Property Manager shall be paid a fee equal to five percent (5%) of the hard costs for the project in question (the “Construction Management Fee”). The Construction Management Fee shall be payable from the Operating Account or from other funds timely provided by Company.

  • Origination; Payment Terms The Mortgage Loan was originated by a mortgagee approved by the Secretary of Housing and Urban Development pursuant to Sections 203 and 211 of the National Housing Act, a savings and loan association, a savings bank, a commercial bank, credit union, insurance company or other similar institution which is supervised and examined by a federal or state authority, except with respect to a Mortgage Loan purchased from a correspondent as indicated on the Mortgage Loan Schedule. Principal payments on the Mortgage Loan commenced no more than seventy days after funds were disbursed in connection with the Mortgage Loan. The Mortgage Interest Rate as well as, in the case of an Adjustable Rate Mortgage Loan, the Lifetime Rate Cap and the Periodic Cap are as set forth on the related Mortgage Loan Schedule. Unless specified on the related Mortgage Loan Schedule as an interest-only loan or a Balloon Mortgage Loan, the Mortgage Note is payable in equal monthly installments of principal and interest, which installments of interest, with respect to Adjustable Rate Mortgage Loans, are subject to change due to the adjustments to the Mortgage Interest Rate on each Interest Rate Adjustment Date, with interest calculated and payable in arrears, sufficient to amortize the Mortgage Loan fully by the stated maturity date, over an original term of not more than thirty years from commencement of amortization (or forty years for Mortgage Loans identified on the Mortgage Loan Schedule as a Balloon Mortgage Loan with a forty year amortization period). Unless otherwise specified on the related Mortgage Loan Schedule, the Mortgage Loan is payable on the first day of each month and the Mortgage Loan does not require a balloon payment on its stated maturity date;

  • Termination Payments In the event of termination of the Executive’s employment during the Employment Period, all compensation and benefits set forth in this Agreement shall terminate except as specifically provided in this Section 8.

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