Sales of Capacity Sample Clauses

Sales of Capacity. The Company shall not, and shall not permit any of its Subsidiaries to, sell, lease or otherwise dispose of Capacity or capacity on other telecommunication systems acquired in accordance with the terms hereof except pursuant to agreements entered into by the Company on commercially reasonable terms including, without limitation, the provisions set forth in EXHIBIT C (as such provisions may be amended, supplemented, restated or otherwise modified from time to time to the extent permitted under Section 6.10 hereof); PROVIDED that, in any event, (a) the relevant agreement shall provide that all cash consideration payable thereunder shall be paid in Dollars to (x) the Pre-Sales Proceeds Account (in the case of payments made prior to the Conversion Date) and (y) except as provided in Section 8.2(c), to the Revenue Account (in the case of payments made on and after the Conversion Date), (b) if the relevant agreement shall provide for future payments it shall not prohibit the granting of a security interest in such agreement by the Company to the Administrative Agent for the benefit of the Secured Parties, (c) if requested by the Administrative Agent, the Company shall deliver a copy of any such relevant agreement, (d) the relevant agreement may provide for a cash rebate or return of cash previously paid to the Company by such purchaser (i) on or after March 31, 2002, to the extent that such cash has not previously been used to make payments in connection with the Project, (ii) to the extent that such rebate or return is due and payable no earlier than March 31, 2003 or (iii) after the Conversion Date, if such agreement (other than any Capacity Sales Agreement with Sponsors or any other direct holding company or any Affiliates thereof) does provide for any such rebate or return, a portion of the Capacity Payments or other payments received in respect of such agreement in an amount equal to such contingent rebate or return, shall be deposited into the VAT Account and (e) the relevant agreement may provide for the purchase by the Company of interim capacity on another system, provided, however, that any acquisition of such interim capacity shall be funded directly with proceeds received under related Capacity Sales Agreements; PROVIDED, FURTHER, the Company shall not (i) enter into any transaction to dispose of Capacity for non-cash consideration if, after giving effect to such transaction, the Capacity disposed of for non-cash consideration during the 12-month per...
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Sales of Capacity. 87 SECTION 6.14.
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Sales of Capacity shall defer more than $4,000,000 beyond the Maturity Date without the prior written consent of the Lead Agents and (B) once the aggregate amount of payments deferred beyond the Maturity Date exceeds $20,000,000, no further deferral of payments beyond the Maturity Date shall be permitted without the prior written consent of the Majority Lenders (or the Lead Agents if, as of any date of determination, the cumulative Capacity Sales Revenue received by the Borrower and the Subsidiaries as of such date exceeds 175% of the cumulative Capacity Sales Revenue set forth in Section 6.24(a) with -------------- respect to such date) (and subject, in any event, to clause (A) above). --------- Prior to the date upon which a Certificate of Commercial Service has been issued under the Supply Contract for the United Kingdom to Germany Segment of the System, the Borrower and its Subsidiaries may dispose of up to 10% of the System's initial Capacity for non-cash consideration permitted under this Agreement and constituting System Activities and, thereafter, if and when the option under the Supply Contract for the First Permitted System Upgrade has been duly exercised by the Borrower, up to 20% (in the aggregate and inclusive of dispositions theretofore made pursuant to this sentence) of the System's initial Capacity, in each case on commercially reasonable terms, provided that in the event that any such non-cash -------- consideration received by the Borrower and/or its Subsidiaries is ultimately disposed of for cash, the corresponding capacity on the System will no longer be deemed to have been disposed of for non-cash consideration." SECTION 2.5 Modification of Article VIII (Accounts). Article VIII of the --------------------------------------- Existing Credit Agreement is hereby amended in accordance with Sections 2.5.1 -------------- through 2.5.6. ----- SECTION 2.5.1. Clause (a) of Section 8.08 of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows:
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Sales of Capacity. 95 SECTION 6.14.
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Sales of Capacity. The Borrower shall not, and shall not ----------------- permit the Subsidiaries to, sell or otherwise dispose of Capacity or capacity on other telecommunication systems acquired in accordance with the terms hereof except (a) pursuant to Capacity Sale Agreements and Capacity Swap Agreements, (b) pursuant to other agreements or arrangements which are on commercially reasonable terms and reasonable satisfactory to the Designated Agents (which shall include the disposition of System Capacity without cash compensation in exchange for mutual restoration agreements or for reasonably equivalently valued capacity on other subsea fiber or terrestrial fiber telecommunication systems, subject to the proviso contained in this Section) and (c) with respect to Backhaul Capacity or capacity on other subsea fiber or terrestrial fiber telecommunication systems acquired in accordance with the terms hereof, pursuant to agreements or arrangements in exchange for reasonably equivalent value and which are on commercially reasonable terms and reasonably satisfactory to the Designated Agents (which may include dispositions for non-cash consideration); provided that, in any event, (i) all such agreements and arrangements described -------- in the foregoing clauses (a), (b) and (c) shall provide that amounts payable to ----------- --- --- the Borrower or any Subsidiary shall be paid to the Revenue Account (unless the Designated Agents otherwise agree), (ii) no agreement providing for future payments shall prohibit the granting of a security interest in such agreement by the Borrower to the Secured Parties and (iii) without derogation of the provisions of Section 6.24 and except for the non-cash exchanges expressly ------------ contemplated above, such agreements shall provide that payments thereunder shall be in cash.
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Sales of Capacity. 7 5 Storage of Heavy Load Hour Energy. . . . . . . . . . .
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Related to Sales of Capacity

  • Assessment of capacity For the purpose of establishing the percentage of the rate to be paid to an employee under this Agreement, the productive capacity of the employee will be assessed in accordance with the Supported Wage System and documented in an assessment instrument by either: (a) the employer and the union in consultation with the employee or, if desired by any of these; or (b) the employer and an accredited Assessor from a panel agreed by the parties to the Agreement and the employee.

  • Contract Capacity The electric power producing capability of the Generating Facility which is committed to Edison.

  • Power and Capacity The Shareholder has the power, authority and capacity to enter into this Agreement and to consummate the transactions contemplated hereby. This Agreement constitutes the Shareholder’s valid, legal and binding obligation and is enforceable against the Shareholder in accordance with its terms, subject, however, as to enforcement, to bankruptcy, insolvency, fraudulent transfer, moratorium and similar laws of general applicability relating to or affecting creditors’ rights;

  • Shareholder Capacity No Person executing this Agreement who, during the term hereof, is or becomes a director or officer of the Company makes any agreement or understanding herein in his or her capacity as a director or officer of the Company. Each Principal Shareholder signs solely in his, her or its capacity as the record holder and beneficial owner of, or the trustee of a trust whose beneficiaries are the beneficial owners of, Principal Shareholder Shares.

  • Financial Capacity (a) Taking into account the Financing Commitment, such Purchaser has, and at the Closing will have, sufficient resources to pay, in cash any and all amounts necessary for it to consummate the transactions contemplated hereby at the Closing, including payment of its Pro Rata Share of the Seller Purchase Price and the Company Purchase Price, and in the case of Purchaser A only, the Additional Company Purchase Price and the Election Purchase Price (to the extent payable hereunder) and all the fees and expenses expressly required to be paid by such Purchaser hereunder without any restrictions to transfer such funds at Closing to the Seller and the Company, as and to the extent required to be paid pursuant to, and subject to the terms of, this Agreement. The Sponsor affiliated with such Purchaser has, and at the Closing will have, sufficient resources to meet its obligations under its Commitment Letter as they become due. (b) As of the date of this Agreement, such Purchaser has delivered to the Seller a true, correct and complete copy of the Commitment Letter provided by its affiliated Sponsor, dated as of the date hereof. Such Commitment Letter has not been amended or modified, and the respective commitments contained in such Commitment Letter have not been withdrawn, terminated or rescinded. Such Commitment Letter (i) is in full force and effect, (ii) constitutes the legal, valid and binding obligation of such Purchaser and the Sponsor party thereto, and (iii) is enforceable by the Seller and the Company against such Purchaser and the Sponsor party thereto, in accordance with its terms, subject to bankruptcy, insolvency, reorganization and other Legal Requirements of general applicability relating to or affecting creditors’ rights and to general equity principles. There are no side letters or other Contracts related to the funding or investing, as applicable, of the applicable Financing Commitment other than such Commitment Letter. There are no conditions precedent to the consummation of such Financing Commitment other than those set forth in such Commitment Letter. As of the date of this Agreement, the Sponsor affiliated with such Purchaser is not subject to bankruptcy proceedings. (c) Notwithstanding anything to the contrary contained herein, in no event shall this Section 4.4 be deemed breached (and no condition set forth in Section 6.3 shall be deemed to have failed as a result of any actual or alleged breach of this Section 4.4), if (notwithstanding any actual or alleged breach), such Purchaser is willing and able to consummate its obligations at the Closing if and when it is otherwise required to do so under the terms and conditions of this Agreement.

  • Stockholder Capacity No Person executing this Agreement who is or becomes during the term hereof a director or officer of the Company shall be deemed to make any agreement or understanding herein in his or her capacity as such director or officer. Stockholder signs solely in his, her or its capacity as the beneficial owner of the Subject Shares and nothing herein shall limit or prohibit Stockholder or any of its Representatives, in his or her capacity as an officer or director of the Company, from taking any action or failing to take any action in such capacity.

  • Maximum Capacity The Sick Leave Bank shall accumulate unused Bank days from year to year to a maximum capacity which shall not exceed double the number of eligible employees as defined in the above Section C, Eligibility for Membership.

  • Corporate Capacity The Acquirer has the corporate power, capacity and authority to enter into and complete this Agreement;

  • Action in Shareholder Capacity Only The parties acknowledge that this Agreement is entered into by Shareholder solely in such Shareholder’s capacity as the Beneficial Owner of such Shareholder’s Owned Securities and nothing in this Agreement restricts or limits any action taken by such Shareholder in its capacity as a director or officer of the Company or any of its Affiliates and the taking of any actions (or failure to act) in its capacity as an officer or director of the Company, or any of its Affiliates, will not be deemed to constitute a breach of this Agreement, regardless of the circumstances thereto.

  • Fiduciary Capacity If Investor is purchasing the Shares in a fiduciary capacity for another person or entity, including without limitation a corporation, partnership, trust or any other entity, the Investor has been duly authorized and empowered to execute this Agreement and all other subscription documents. Upon request of the Company, Investor will provide true, complete and current copies of all relevant documents creating the Investor, authorizing its investment in the Company and/or evidencing the satisfaction of the foregoing.

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