Return of Remaining Mitigation Amount in Event of Termination Sample Clauses

Return of Remaining Mitigation Amount in Event of Termination. In the event that MVP terminates the Project, whether in the unanticipated event that the Project fails to obtain and maintain the State Approvals or any other necessary permits, certifications, consents, authorizations and other approvals or for any other reason in MVP’s sole discretion, each of the Forest Mitigation Partners and the Water Quality Mitigation Partners shall deliver a proportionate share of the Mitigation Amount in accordance with this Paragraph 4 to MVP within thirty (30) days of receipt of written notice of termination from MVP. Such proportionate share to be returned to MVP shall be calculated, preserved and, in the event of termination, returned based upon the number of miles of the pipeline route in Virginia for which tree clearing and grubbing activity remains to be performed compared to the total number of miles of the pipeline route requiring such activities in Virginia as part of the Project. For example, if MVP terminates the Project after having tree-cleared and grubbed 25 miles of the route, and further assuming for the sake of example that the total number of miles of the pipeline route requiring such activities in Virginia is 50 miles, then each partner would be responsible for returning to MVP one-half (determined by dividing 25 miles by 50 miles) of the portion of the Mitigation Amount that it received from MVP.
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Return of Remaining Mitigation Amount in Event of Termination. In the event that MVP terminates the Project, whether in the unanticipated event that the Project fails to obtain and maintain the necessary permits, certifications, consents, authorizations or other approvals or for any other reason in MVP’s sole discretion, VHS or any substitute mitigation partner shall deliver the proportionate share of the Mitigation Fund to MVP within thirty (30) days of receipt of written notice of termination from MVP. Such proportionate share to be returned to MVP shall be calculated based upon the number of miles of the pipeline route in Virginia for which tree clearing and grubbing activity remains to be performed compared to the total number of miles of the pipeline route requiring such activities in Virginia as part of the Project. For example, if MVP terminates the Project after having tree-cleared and grubbed 25 miles of the route, and further assuming for the sake of example that the total number of miles of the pipeline route requiring such activities in Virginia is 50 miles, then each partner would be responsible for returning to MVP one-half (determined by dividing 25 miles by 50 miles) of the portion of the Mitigation Amount that it received from MVP.
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Related to Return of Remaining Mitigation Amount in Event of Termination

  • TERMINATION DUE TO CHANGE IN FUNDING ‌ 35 In the event funding from HCA, MCO, State, Federal, or other sources is withdrawn, reduced, or limited 36 in any way after the effective date of this Contract and prior to its normal completion, either party may 37 terminate this Contract subject to re-negotiations.

  • In the Event of Termination After receipt of a notice of termination, except as otherwise directed, the AGENCY shall:

  • Payment of Termination Payment The Defaulting Party shall make the Termination Payment within ten (10) Business Days after such notice is effective, regardless whether the Termination Payment calculation is disputed. If the Defaulting Party disputes the Non-Defaulting Party’s calculation of the Termination Payment, in whole or in part, the Defaulting Party shall within ten

  • Termination due to Event of Default (a) Termination due to Parties Event of Default

  • Termination Events This Agreement may, by notice given prior to or at the Closing, be terminated:

  • Calculation of Termination Payment If an Early Termination Date has been declared, the Non-Defaulting Party shall calculate, in a commercially reasonable manner, the Termination Payment in accordance with this Section 10.3.

  • Termination for Change of Control This Agreement may be terminated immediately by SAP upon written notice to Provider if Provider comes under direct or indirect control of any entity competing with SAP. If before such change Provider has informed SAP of such potential change of control without undue delay, the Parties agree to discuss solutions on how to mitigate such termination impact on Customer, such as stepping into the Customer contract by SAP or by any other Affiliate of Provider or any other form of transition to a third party provider.

  • Available Funds-Contingency-Termination a. The State is prohibited by law from making commitments beyond the term of the current State Fiscal Year. Payment to Local Agency beyond the current State Fiscal Year is contingent on the appropriation and continuing availability of Agreement Funds in any subsequent year (as provided in the Colorado Special Provisions). If federal funds or funds from any other non-State funds constitute all or some of the Agreement Funds, the State’s obligation to pay Local Agency shall be contingent upon such non-State funding continuing to be made available for payment. Payments to be made pursuant to this Agreement shall be made only from Agreement Funds, and the State’s liability for such payments shall be limited to the amount remaining of such Agreement Funds. If State, federal or other funds are not appropriated, or otherwise become unavailable to fund this Agreement, the State may, upon written notice, terminate this Agreement, in whole or in part, without incurring further liability. The State shall, however, remain obligated to pay for Services and Goods that are delivered and accepted prior to the effective date of notice of termination, and this termination shall otherwise be treated as if this Agreement were terminated in the public interest as described in §2.C.

  • Contents of Termination Notice A Termination Notice shall specify:

  • Payment in the Event Losses Fail to Reach Expected Level On the date that is 45 days following the last day (such day, the “True-Up Measurement Date”) of the Final Shared Loss Month, or upon the final disposition of all Shared Loss Assets under this Single Family Shared-Loss Agreement at any time after the termination of the Commercial Shared-Loss Agreement, the Assuming Institution shall pay to the Receiver fifty percent (50%) of the excess, if any, of (i) twenty percent (20%) of the Intrinsic Loss Estimate less (ii) the sum of (A) twenty-five percent (25%) of the asset premium (discount) plus (B) twenty-five percent (25%) of the Cumulative Shared-Loss Payments plus (C) the Cumulative Servicing Amount. The Assuming Institution shall deliver to the Receiver not later than 30 days following the True-Up Measurement Date, a schedule, signed by an officer of the Assuming Institution, setting forth in reasonable detail the calculation of the Cumulative Shared-Loss Payments and the Cumulative Servicing Amount.

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