Restoration of Capacity Sample Clauses

Restoration of Capacity. Subject to Force Majeure and interruptions for routine repair and maintenance, consistent with customary terminal industry standards, TLO shall maintain the Terminal in a condition and with a capacity sufficient to throughput a volume of Customer’s Products at least equal to the applicable Reserved Capacity. TLO’s obligations may be temporarily suspended during the occurrence of, and for the entire duration of, a Force Majeure or any interruption of service that prevents TLO from terminalling the applicable Reserved Capacity. To the extent TLO is prevented from terminalling volumes equal to the applicable Reserved Capacity for reasons of Force Majeure or other interruption of service, then Customer’s obligation to throughput the applicable Minimum Throughput Commitment and pay any Shortfall Payment shall be reduced proportionately. At such time as TLO is capable of terminalling volumes equal to the applicable Reserved Capacity, Customer’s obligation to throughput the full, applicable Minimum Throughput Commitment shall be restored. If for any reason, including, without limitation, a Force Majeure event, the throughput capacity of the Terminal should fall below the applicable Reserved Capacity, then within a reasonable period of time after the commencement of such reduction, TLO shall make repairs to the Terminal to restore the capacity of the Terminal to that required for throughput of the applicable Reserved Capacity (“Restoration”). Except as provided below in Section 28(c), all of such Restoration shall be at TLO’s cost and expense, unless the damage creating the need for such repairs was caused by the negligence or willful misconduct of Customer, its employees, agents or customers or the failure of Customer’s Products to meet the specifications as provided for in Section 15(a).
Sample 1Sample 2Sample 3See All (7)
AutoNDA by SimpleDocs
Restoration of Capacity. Subject to Force Majeure and interruptions for routine repair and maintenance, consistent with customary terminal industry standards, TLO shall maintain the Terminal in a condition and with a capacity sufficient to throughput a volume of Customer’s Heavy Oils at least equal to the Manifest Railcar Loading and Unloading Capacity. TLO’s obligations may be temporarily suspended during the occurrence of, and for the entire duration of, a Force Majeure or any interruption of service that prevents TLO from throughput a volume of Customer’s Heavy Oils at least equal to the Manifest Railcar Loading and Unloading Capacity. To the extent TLO is prevented from throughput a volume of Customer’s Heavy Oils at least equal to the Manifest Railcar Loading and Unloading Capacity for reasons of Force Majeure or other interruption of service, then Customer’s obligation to pay the MTVF shall be reduced proportionately. At such time as TLO is capable of throughputting a volume of Customer’s Heavy Oils at least equal to the Manifest Railcar Loading and Unloading Capacity, Customer’s obligation to pay the full MTVF shall be restored. If for any reason, including, without limitation, a Force Majeure event, the throughput capacity of the Terminal should fall below the Manifest Railcar Loading and Unloading Capacity, then within a reasonable period of time after the commencement of such reduction, TLO shall make repairs to the Terminal (to the extent it is able to do so) to restore the capacity of the Terminal to that required to throughput a volume of Customer’s Heavy Oils at least equal to the Manifest Railcar Loading and Unloading Capacity (“Restoration”). Except as provided below in Section 28(c), all of such Restoration shall be at TLO’s cost and expense, unless the damage creating the need for such repairs was caused by the negligence or willful misconduct of Customer, its employees, agents or customers or the failure of Customer’s Products to meet the specifications as provided for in Section 15(a).
Sample 1Sample 2See All (6)
Restoration of Capacity. Notwithstanding the provisions of Clauses 9.8, 9.8A, if in any period of three (3) months the average Contracted Early Generation Capacity or Contracted Plant Capacity, demonstrated by tests conducted over that period, is less than sixty per cent (60%) of the Contracted Early Generation Capacity at the Signature Date or Contracted Plant Capacity agreed or determined in accordance with Clause 5 (as the case may be), and provided that the Reservoir can sustain the required steam flow, the Parties shall forthwith meet and agree a programme to be implemented by the Seller during the next following six (6) month period for restoring the Contracted Early Generation Capacity or Contracted Plant Capacity (as the case may be) to ninety-eight per cent (98%) (in the five (5) years immediately following the Early Generation Commercial Operation Date or the Full Commercial Operation Date (as the case may be)) or otherwise to ninety-five per cent (95%) of the level at which it was on the Signature Date or agreed or determined in accordance with Clause 5 (as the case may be). If the Seller fails to so restore the Contracted Early Generation Capacity or Contracted Plant Capacity during the said six (6) month period, the Capacity Payments from the end of such six (6) month period until the date on which the capacity is restored in accordance with Clause 9.12 shall be multiplied by a factor of decimal five (0.5), the Parties hereby agreeing that such adjustment represents a genuine pre-estimate of the cost to KPLC for procuring alternative generating capacity which the Seller is unable to provide.
Sample 1
Restoration of Capacity. Notwithstanding the provisions of Clauses 9.8 or 9.8A, if in any period of three (3) months the average Contracted Early Generation Capacity or Contracted Plant Capacity of a Plant, demonstrated by tests conducted over that period, is less than sixty per cent (60%) of, for the Early Generation Facility, the Contracted Early Generation Capacity at the Signature Date or, for a Plant, the Contracted Plant Capacity for such Plant agreed or determined in accordance with Clause 5.12 (as the case may be), and provided that the Reservoir can sustain the required steam flow, the Parties shall forthwith meet and agree a programme to be implemented by the Seller during the next following six (6) month period for restoring the Contracted Early Generation Capacity or Contracted Plant Capacity for such Plant (as the case may be) to ninety-eight per cent (98%) (in the five (5) years immediately following the Early Generation Commercial Operation Date or the Full Commercial Operation Date of such Plant (as the case may be)) or otherwise to ninety-five per cent (95%) of the level at which it was on the Signature Date or agreed or determined in accordance with Clause 5.12 (as the case may be). If the Seller fails to so restore the Contracted Early Generation Capacity or Contracted Plant Capacity of such Plant during the said six (6) month period, the Capacity Payments with respect to the Early Generation Facility or such Plant (as the case may be) from the end of such six (6) month period until the date on which the capacity is restored in accordance with Clause 9.12 shall be multiplied by a factor of decimal five (0.5), the Parties hereby agreeing that such adjustment represents a genuine pre-estimate of the cost to KPLC for procuring alternative generating capacity which the Seller is unable to provide. The reduction in Capacity Payments described above shall be applied solely with respect to payments associated with the capacity of the Plant(s) which suffers the above described failure.
Sample 1
Restoration of Capacity. If at any time after the determination of incapacity under subparagraph 3. the Trustee shall receive a written statement signed by such Trustor’s personal physician (or a specialist approved by Trustor’s personal physician, or any two other licensed physicians) that Trustor is no longer so mentally or physically incapacitated as to be substantially unable to manage his financial resources and affairs effectively or to resist fraud or undue influence, then such Trustor shall no longer be deemed to be incapacitated and the provisions of subparagraph 2 shall cease to apply. If the Trustee other than such Trustor shall object to such physician’s statement, the Trustee may institute proceedings to determine capacity before any appropriate court and such Trustor shall no longer be deemed to be incapacitated unless and until a court having jurisdiction has determined that Trustor is in fact incapacitated. Restoration of capacity pursuant to this article or such a finding by a court having jurisdiction over such proceedings shall not automatically restore Trustor as a Trustee under this instrument.
Sample 1

Related to Restoration of Capacity

  • Reduction of capital If the Borrower reduces its committed or subscribed capital; or

  • Composition of Capital Accounts A separate capital account shall be maintained by the Partnership for each Partner in accordance with Section 704(b) of the Internal Revenue Code of 1986, as amended (the “Code”), and Treasury Regulations promulgated thereunder. There shall be credited to each Partner’s capital account (i) the amounts of money contributed by the Partner to the Partnership, (ii) the fair market value of property contributed by the Partner to the Partnership (net of liabilities secured by such contributed property that the Partnership is considered to assume or take subject to under Section 752 of the Code), and (iii) allocations to the Partner of Partnership income and gain (or items thereof), including income and gain exempt from tax, as computed for book purposes, in accordance with Treasury Regulation Section 1.704-1(b)(2)(iv)(g), as set forth pursuant to Section 5.5 of this Agreement. Each Partner’s capital account shall be decreased by (i) the amount of money distributed to the Partner by the Partnership, (ii) the fair market value of property distributed to the Partner by the Partnership (net of liabilities secured by such distributed property that such Partner is considered to assume or take subject to pursuant to Section 752 of the Code), (iii) allocations to such Partner of expenditures of the Partnership described in Section 705(a)(2)(B) of the Code, and (iv) allocations of Partnership loss and deduction (or items thereof), including loss or deduction, computed for book purposes, as described in Treasury Regulation Section 1.704-1(b)(2)(iv)(g), as set forth pursuant to Section 5.5 of this Agreement. If the General Partner also acquires a Limited Partnership Interest in the Partnership, it shall nonetheless have a single capital account that reflects both its interest as a General Partner and its interest as a Limited Partner. If a Partner owns more than one Partnership Interest, such Partner shall nonetheless have a single capital account that reflects all Partnership Interests of such Partner.

  • Withdrawals of Capital No Partner may withdraw capital related to such Partner’s GP-Related Partner Interests from the Partnership except (i) for distributions of cash or other property pursuant to Section 5.8, (ii) as otherwise expressly provided in this Agreement or (iii) as determined by the General Partner.

  • Maintenance of Capital Accounts The Company shall maintain a Capital Account for each Member on the books of the Company in accordance with the provisions of Treasury Regulations Section 1.704-1(b)(2)(iv) and, to the extent consistent with such provisions, the following provisions:

  • Distribution of Cash (a) The Partnership shall distribute cash on a quarterly (or, at the election of the General Partner, more frequent) basis, in an amount determined by the General Partner in its sole and absolute discretion, to the Partners who are Partners on the Partnership Record Date with respect to such quarter (or other distribution period) in accordance with Section 5.2(b).

  • Individual Capacity The Administrative Agent and its Affiliates may make loans to, accept deposits from and generally engage in any kind of business with the Borrower and its Affiliates as though the Administrative Agent were not an Agent. With respect to the Loans made by it and all obligations owing to it, the Administrative Agent shall have the same rights and powers under this Agreement as any Lender and may exercise the same as though it were not an Agent, and the terms “Required Lenders”, “Lender” and “Lenders” shall include the Administrative Agent in its individual capacity.

  • Application of Cash At Lender's option, Lender may apply any cash, whether included in the Collateral or received as Income and Proceeds or through liquidation, sale, or retirement, of the Collateral, to the satisfaction of the Indebtedness or such portion thereof as Lender shall choose, whether or not matured.

  • Reduction or loss of capital a meeting is convened by any Security Party for the purpose of passing any resolution to purchase, reduce or redeem any of its share capital; or

  • Withdrawal of Capital No Member may withdraw all or any part of its Capital Contribution except with the unanimous consent of the mangers or as provided in Article III (regarding distributions generally) or Article VIII (regarding dissolution of the Company).

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!