Resumption of the Operational Balancing Account Sample Clauses

Resumption of the Operational Balancing Account. If the operation of the Operational Balancing Account is suspended, then the Parties will meet to discuss and agree a protocol (which may include the transfer of Natural Gas between the Parties to reduce the OBA Balance) and timeline for the resumption of the Operational Balancing Account and the end of the proportional allocation regime set out in Article 4.2.1. Any resumption of the Operational Balancing Account will apply from the start of the Gas Day agreed between the Parties as being the Gas Day on which the default allocation regime will apply again. Each Party will be responsible for informing its Shippers about the resumption of the default allocation regime.
Sample 1Sample 2
AutoNDA by SimpleDocs

Related to Resumption of the Operational Balancing Account

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • CONDITIONS FOR EMERGENCY/HURRICANE OR DISASTER - TERM CONTRACTS It is hereby made a part of this Invitation for Bids that before, during and after a public emergency, disaster, hurricane, flood, or other acts of God that Orange County shall require a “first priority” basis for goods and services. It is vital and imperative that the majority of citizens are protected from any emergency situation which threatens public health and safety, as determined by the County. Contractor agrees to rent/sell/lease all goods and services to the County or other governmental entities as opposed to a private citizen, on a first priority basis. The County expects to pay contractual prices for all goods or services required during an emergency situation. Contractor shall furnish a twenty-four (24) hour phone number in the event of such an emergency.

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