Reduction of the Firm Capacity Reservation by the Purchaser Sample Clauses

Reduction of the Firm Capacity Reservation by the Purchaser. If the Purchaser or the Supplier requests a change in the nature, quantity or type of any SUMF Item provided hereunder, the other Party shall use reasonable efforts to accommodate such request but with no obligation to make such change. In the event of the charge for a particular SUMF Item being based upon the Purchaser's Firm Capacity Reservation, the Purchaser shall have the right with respect to such SUMF Item upon (3) years advance written notice (or such shorter period as the Parties may mutually agree) to reduce its Firm Capacity Reservation for such SUMF Item and, when reduced, to receive a pro rata reduction in the SUMF Charges that are allocated based on the Purchaser's share of the aggregate of firm capacity reservations for such SUMF Item in respect of all Users. There shall be no minimum or maximum limit on the extent of the reduction except as the Supplier may require for the protection of HSSE. Termination cost (i.e. disconnection cost and redundancy cost, as the case may be) associated with the reduction of the Firm Capacity Reservation for a SUMF Item will be dealt with as if such SUMF Item were terminated and the provisions of Article 10.8 and Article 10.9 shall apply thereto.
Sample 1
AutoNDA by SimpleDocs
Reduction of the Firm Capacity Reservation by the Purchaser. If the Purchaser or the Supplier requests a change in the nature, quantity or type of any SUMF Item provided hereunder, the other Party shall use reasonable efforts to accommodate such request but with no obligation to make such change. In the event of the charge for a particular SUMF Item being based upon the Purchaser's Firm Capacity Reservation, the Purchaser shall have the right with respect to such SUMF Item upon (3) years advance written notice (or such shorter period as the Parties may mutually agree) to reduce its Firm Capacity Reservation for such SUMF Item and, when reduced, to receive a pro rata reduction in the SUMF Charges that are allocated based on the Purchaser's share of the aggregate of firm capacity reservations for such SUMF Item in respect of all Users. Notwithstanding the foregoing, Purchaser shall have the right to reduce related Nominal Offtake (as defined in Schedule 6.3) by providing notice not later than as part of the Annual Plan and Budget process if Purchaser restarts or installs a boiler unit at its Plant, (boiler unit with a capacity of up to 60kt per year not currently in use as of the Effective Date). There shall be no minimum or maximum limit on the extent of the reduction except as the Supplier may require for the protection of HSSE. Termination cost (i.e. disconnection cost and redundancy cost, as the case may be) associated with the reduction of the Firm Capacity Reservation for a SUMF Item will be dealt with as if such SUMF Item were terminated and the provisions of Article 10.8 and Article 10.9 shall apply thereto (with the exception, however, that the foregoing shall not be applicable to the permanent or long-term reduction or termination of SUMF Items pursuant to Article 10.7, as cost sharing relating thereto shall be included in either the applicable notice period or liquidated damages as set forth in Article 10.7).
Sample 1

Related to Reduction of the Firm Capacity Reservation by the Purchaser

  • Termination in Connection with Change of Control If Executive’s employment is terminated by the Company without Cause or by Executive for Good Reason within sixty (60) days prior to or twelve (12) months following a Change of Control, Executive shall be entitled to receive, in lieu of any severance benefits to which Executive may otherwise be entitled under any severance plan or program of the Company, the benefits provided below:

  • Termination by the Purchaser This Agreement may be terminated by the Purchaser at any time prior to the Effective Time if:

  • Termination in Connection with Change in Control a. This Agreement terminates if it is not assumed by the successor corporation (or affiliate thereto) upon a Change in Control (as defined below).

  • Termination in Connection with a Change of Control If the Executive’s employment is terminated by the Company other than for Cause or by the Executive for Good Reason during the Effective Period, then the Executive shall be entitled to receive the following from the Company:

  • Termination in Connection with a Change in Control a. For purposes of this Agreement, a “

  • Partial Terminations by the Purchasers In the event so instructed by the Purchasers in writing after the Closing Date and at the Purchasers’ sole expense, each Seller shall execute documents prepared by the Purchasers and reasonably acceptable to such Seller resigning or appointing a successor Appointed Trustee under any Serviced Appointment for which such Seller acts as Appointed Trustee (other than with respect to any Serviced Appointment that is an Excluded Appointment), and shall reasonably cooperate, at the Purchasers’ sole expense, as instructed by the Purchasers, in finding a qualified successor Appointed Trustee, including executing any documents prepared by the Purchasers in connection with the application to a court of competent jurisdiction to appoint a successor Appointed Trustee.

  • Clean-Up Terminations by the Sellers (a) The Sellers shall have the right to elect to terminate this Agreement in the event that the remaining Serviced Appointments have generated LTM Fee Revenue that is less than 5% of the aggregate fee revenue generated by all Appointments that are Serviced Appointments as of January 1, 2024 in the twelve-month period prior to January 1, 2024.

  • 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:

  • Waiver of Past Servicer Termination Events and Operating Advisor Termination Events; Termination The Holders of Certificates evidencing not less than 66-2/3% of the aggregate Voting Rights of the Certificates (and, if such Servicer Termination Event is on the part of a Special Servicer, with respect to the related Serviced Loan Combination only, by each affected Serviced Companion Loan Holder) may, on behalf of all Holders of Certificates, waive any Servicer Termination Event on the part of the Master Servicer, Special Servicer or any Operating Advisor Termination Event on the part of the Operating Advisor in the performance of its obligations hereunder and its consequences, except a Servicer Termination Event in connection with making any required deposits (including, with respect to the Master Servicer, P&I Advances) to or payments from the Collection Account, a Loan Combination Custodial Account or the Lower-Tier REMIC Distribution Account or in remitting payments as received, in each case in accordance with this Agreement. Upon any such waiver of a past default, such default shall cease to exist, and any Servicer Termination Event or Operating Advisor Termination Event arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon. Any costs and expenses incurred by the Certificate Administrator in connection with such default and prior to such waiver shall be reimbursed by the Master Servicer, the Special Servicer or the Operating Advisor, as applicable, promptly upon demand therefor and if not reimbursed to the Certificate Administrator within 90 days of such demand, from the Trust Fund; provided that the Trust Fund shall be reimbursed by the Master Servicer, the Special Servicer or the Operating Advisor, as applicable, to the extent such amounts are reimbursed to the Certificate Administrator from the Trust Fund. Notwithstanding the foregoing, (a) a Servicer Termination Event under any of Section 7.01(a)(i) and Section 7.01(a)(ii) of this Agreement may be waived only by all of the Certificateholders of the affected Classes (considering each Class of the Class A-S, Class B and Class C Certificates together with the Class EC Component of the same alphabetical designation as a single “Class” for such purpose), and (b) a Servicer Termination Event under Section 7.01(a)(x) of this Agreement may be waived only with the consent of the Depositor, together with (in the case of each of clauses (a) and (b)) the consent of each Serviced Companion Loan Holder, if any, that is affected by such Servicer Termination Event.

  • Involuntary Termination in Connection with a Change in Control Notwithstanding anything contained herein, in the event of an Involuntary Termination prior to a Change in Control, if the Involuntary Termination (1) was at the request of a third party who has taken steps reasonably calculated to effect such Change in Control or (2) otherwise arose in connection with or in anticipation of such Change in Control, then the Executive shall, in lieu of the payments described in Section 4 hereof, be entitled to the Post-Change in Control Severance Payment and the additional benefits described in this Section 5 as if such Involuntary Termination had occurred within two (2) years following the Change in Control. The amounts specified in Section 5 that are to be paid under this Section 5(h) shall be reduced by any amount previously paid under Section 4. The amounts to be paid under this Section 5(h) shall be paid within sixty (60) days after the Change in Control Date of such Change in Control.

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