Substitution of Concessionaire Sample Clauses

Substitution of Concessionaire. At any time during the period of Suspension, the Lenders‟ Representative, on behalf of Senior Lenders, shall be entitled to substitute the Concessionaire under and in accordance with the Substitution Agreement, and upon receipt of notice thereunder from the Lenders‟ Representative, the Authority shall withhold Termination for a period not exceeding 180 (one hundred and eighty) days from the date of Suspension, and any extension thereof under Clause 36.1, for enabling the Lenders‟ Representative to exercise its rights of substitution on behalf of Senior Lenders.
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Substitution of Concessionaire. (a) Where the Concessionaire has assigned its Concession rights, and interest in the Project to, and in favour of, the Lenders pursuant to and in accordance with the provisions of this Agreement by way of security in respect of financing by the Lenders under the Financing Documents and pursuant to their rights, the Lenders may be entitled to substitute the Concessionaire by a Selectee in the following events and manner specified. (b) Upon occurrence of a financial default, the Lender may issue a notice to the Concessionaire along with particulars thereof, and send a copy to MC for its information and record. Upon issue of a notice of financial default, the Lenders may, without prejudice to any of their/its rights or remedies under this Agreement or the Financing Documents, substitute the Concessionaire by a Selectee in consultation with MC subject to the following provisions. (c) Upon occurrence of a Concessionaire Event of Default under this Agreement, MC shall by a notice inform the Lenders of such default. i. In the event that the Lender makes a representation to MC within the period specified in the said intimation stating that it intends to substitute the Concessionaire by a Selectee, the Lender shall be entitled to undertake the substitution of the Concessionaire by a Selectee in accordance with the provisions of this Article. In the event that the Lender fails to make such a representation to MC within the period specified, MC shall be entitled to terminate the Agreement in accordance with the provisions of the Agreement. ii. To be eligible for substitution in place of the Concessionaire, the Selectee shall be required to fulfill the eligibility criteria that were laid down in the RFP Document for qualifying Bidders during Bidding Process. Provided that the Lenders may represent to MC that all or any of such criteria may be waived in the interest of the Project, and if MC determines that such waiver shall not have any Material Adverse Effect on the Project, it may waive all or any of such eligibility criteria. iii. The decision of the Lender and MC in selection of the Selectee shall be final and binding on the Concessionaire. The Concessionaire irrevocably waives any right to challenge the actions of the Lender or MC taken pursuant to this Agreement including the transfer/novation of the Agreement, iv. The Concessionaire agrees and confirms that it shall not have any right to seek revaluation of assets comprised in the Project or its shares. It is h...
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Substitution of Concessionaire. At any time during the period of Suspension, the Lenders’, shall be entitled to substitute the Concessionaire under and in accordance with the Substitution Agreement, and upon receipt of notice thereunder from the Lenders’, the Authority shall withhold Termination for a period not exceeding 120 (one hundred and twenty) days from the date of Suspension, and any extension thereof under Clause 29.1, for enabling the Lender’s to exercise its rights of substitution.
Sample 1See All (4)
Substitution of Concessionaire. At any time during the period of Suspension, the Lenders’ Representative, on behalf of Senior Lenders, shall be entitled to substitute the Concessionaire under and in accordance with the Substitution Agreement, and upon receipt of notice thereunder from the Lenders’ Representative, the Authority shall withhold termination for a period not exceeding 180 (one hundred and eighty) day from the date of Suspension, and any extension thereof under Clause 32.1, for enabling the Lenders’ Representative to exercise its right of substitution on behalf of Senior Lenders. Notwithstanding anything to the contrary stipulated in this Agreement, the Authority shall (to the exclusion of Senior Lenders) have the right to take over (as per the Divestment Requirements in Clause 34.1) complete possession and control of the Project Assets, Existing Hospital, Existing Facilities, thereby replacing the Concessionaire, by way of terminating this Agreement in case any Concessionaire’s Event of Default occurs prior to the COD of Phase I.
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Substitution of Concessionaire. 13.4.1 At any time during the period of Suspension, the Lenders shall be entitled to substitute the Concessionaire under and in accordance with the Substitution Agreement, subject to the right of the ULB rejecting such Substitution or appointment of a substitute by itself and upon receipt of notice thereunder from the Lenders, the ULB shall withhold Termination for a period not exceeding 180 (one hundred and eighty) days from the date of Suspension, and any extension thereof under Article 13.1, for enabling the Lenders to exercise its rights of substitution. For the avoidance of doubt, the Parties agree that the Substitution Right of the Lenders is subject to the right of the ULB of substituting the Concessionaire during period of Suspension.
Sample 1
Substitution of Concessionaire. At any time during the period of Suspension, the Lenders' Representative, on behalf of Senior Lenders, shall be entitled to substitute the Concessionaire under and in accordance with the Substitution Agreement, and upon receipt of notice thereunder from the Lenders' Representative, the Authority shall withhold Termination for a period not exceeding 180 (one hundred and eighty) days from the date of Suspension, and any extension thereof under Clause 32.1, for enabling the Lenders' Representative to exercise its rights of substitution on behalf of Senior Lenders. Notwithstanding anything to the contrary stipulated in this Agreement elsewhere, the Authority shall (to the exclusion of Senior Lenders) have the right to substitute the Concessionaire in case of Concessionaire’s Event of Default occurs prior to the COD of Phase 0.
Sample 1
Substitution of Concessionaire. 11.4.1 At any time during the period of Suspension, the Lenders' Representative, on behalf of Senior Lenders, shall be entitled to substitute the Concessionaire under and in accordance with the Substitution Agreement, and upon receipt of notice there under 11.1. 1, for enabling the Lenders' Representative to exercise its rights of substitution on behalf of Senior Lenders.
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Substitution of Concessionaire. 36.5 Termination
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Related to Substitution of Concessionaire

  • Sole purpose of the Concessionaire The Concessionaire having been set up for the sole purpose of exercising the rights and observing and performing its obligations and liabilities under this Agreement, the Concessionaire or any of its subsidiaries shall not, except with the previous written consent of the Authority, be or become directly or indirectly engaged, concerned or interested in any business other than as envisaged herein.

  • Project or Building Name and Signage Landlord shall have the right at any time to change the name of the Project or Building and to install, affix and maintain any and all signs on the exterior and on the interior of the Project or Building as Landlord may, in Landlord’s sole discretion, desire. Tenant shall not use the name of the Project or Building or use pictures or illustrations of the Project or Building in advertising or other publicity or for any purpose other than as the address of the business to be conducted by Tenant in the Premises, without the prior written consent of Landlord.

  • Transfer or Deletion of Student Data The Provider shall review, on an annual basis, whether the Student Data it has received pursuant to the DPA continues to be needed for the purpose(s) of the Service Agreement and this DPA. If any of the Student Data is no longer needed for purposes of the Service Agreement and this DPA, the Provider will provide written notice to the LEA as to what Student Data is no longer needed. The Provider will delete or transfer Student Data in readable form to the LEA, as directed by the LEA (which may be effectuated through Exhibit D of the DPA), within 30 calendar days if the LEA requests deletion or transfer of the Student Data and shall provide written confirmation to the LEA of such deletion or transfer. Upon termination of the Service Agreement between the Provider and LEA, Provider shall conduct a final review of Student Data within 60 calendar days. If the LEA receives a request from a parent, as that term is defined in 105 ILCS 10/2(g), that Student Data being held by the Provider be deleted, the LEA shall determine whether the requested deletion would violate State and/or federal records laws. In the event such deletion would not violate State or federal records laws, the LEA shall forward the request for deletion to the Provider. The Provider shall comply with the request and delete the Student Data within a reasonable time period after receiving the request. Any provision of Student Data to the LEA from the Provider shall be transmitted in a format readable by the LEA.

  • Grant of Concession 2.1.1 Pursuant to the provisions of the Code and the Rules and subject to the terms and conditions of the CDA Documents, TxDOT hereby grants to Developer the exclusive right, and Developer accepts the obligation, to finance, develop, design and construct the Facility described in Section 1 of the Technical Provisions, and to enter into the Lease in the form attached as Exhibit 3 for the Facility and Facility Right of Way. 2.1.2 From and after issuance of NTP1, Developer and its authorized Developer- Related Entities shall have the right and license to enter onto Facility Right of Way and other lands owned by TxDOT for purposes of carrying out its obligations under this Agreement. 2.1.3 TxDOT and Xxxxxxxxx acknowledge that they have executed two counterparts of the Lease and one counter part of the Memorandum of Lease and placed them in a neutral escrow for safekeeping pursuant to the Lease Escrow Agreement. Upon the Operating Commencement Date, but not before then, and as a ministerial act, TxDOT and Developer shall date the Lease and Memorandum of Lease, obtain acknowledgment of their signatures on the 2.1.4 Developer shall have the exclusive right and obligation, during the Operating Period, to use, manage, operate, maintain and repair the Facility, and to perform Renewal Work and Upgrades, pursuant to the terms of the Lease, this Agreement, the other CDA Documents and the Principal Facility Documents. 2.1.5 Developer shall have the exclusive right and obligation, for each Facility Segment, commencing on the Service Commencement Date for such Facility Segment and ending at the end of the Term, to toll the Managed Lanes of the Facility Segment pursuant to the terms of this Agreement, the other CDA Documents and the Principal Facility Documents. 2.1.6 Developer’s rights granted in this Section 2.1 are limited by and subject to the terms and conditions of the CDA Documents, including the following: 2.1.6.1 Receipt of all Governmental Approvals necessary for the Work to be performed and satisfaction of any requirements applicable under the Governmental Approvals (including the NEPA Approval) for the Work to be performed; and 2.1.6.2 TxDOT’s sole ownership of fee simple title to the Facility and Facility Right of Way and all improvements constructed thereon, subject to Developer’s Interest, including Developer’s leasehold estate under the Lease.

  • Construction of Contract Both parties have participated fully in the review and revision of this contract. Any rule of construction to the effect that ambiguities are to be resolved against the drafting party shall not apply to the interpretation of this contract.

  • SUB-LETTING This Rental Agreement shall not be assigned nor shall the premises be sub-let without written consent of the Landlord.

  • Construction of Agreement The parties mutually acknowledge that they and their attorneys have participated in the preparation and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused the uncertainty to exist.

  • Transfer of Landlord’s Interest Tenant acknowledges that Landlord has the right to transfer all or any portion of its interest in the Project or Building and in this Lease, and Tenant agrees that in the event of any such transfer, Landlord shall automatically be released from all liability under this Lease and Tenant agrees to look solely to such transferee for the performance of Landlord’s obligations hereunder after the date of transfer and such transferee shall be deemed to have fully assumed and be liable for all obligations of this Lease to be performed by Landlord, including the return of any Security Deposit, and Tenant shall attorn to such transferee.

  • Delivery of Opinion of Counsel in Connection with Substitutions and Repurchases (a) Notwithstanding any contrary provision of this Agreement, no substitution pursuant to Section 2.02 or 2.03 shall be made more than 90 days after the Closing Date unless the Seller delivers to the Trustee an Opinion of Counsel, which Opinion of Counsel shall not be at the expense of either the Trustee or the Trust Fund, addressed to the Trustee, to the effect that such substitution will not (i) result in the imposition of the tax on "prohibited transactions" on the Trust Fund or contributions after the Startup Date, as defined in sections 860F(a)(2) and 860G(d) of the Code, respectively or (ii) cause any REMIC created under this Agreement to fail to qualify as a REMIC at any time that any Certificates are outstanding. (b) Upon discovery by the Depositor, the Seller, the Master Servicer or the Trustee that any Mortgage Loan does not constitute a "qualified mortgage" within the meaning of section 860G(a)(3) of the Code, the party discovering such fact shall promptly (and in any event within five Business Days of discovery) give written notice thereof to the other parties. In connection therewith, the Trustee shall require the Seller, at the Seller's option, to either (i) substitute, if the conditions in Section 2.03(c) with respect to substitutions are satisfied, a Substitute Mortgage Loan for the affected Mortgage Loan, or (ii) repurchase the affected Mortgage Loan within 90 days of such discovery in the same manner as it would a Mortgage Loan for a breach of representation or warranty made pursuant to Section 2.03. The Trustee shall reconvey to the Seller the Mortgage Loan to be released pursuant hereto in the same manner, and on the same terms and conditions, as it would a Mortgage Loan repurchased for breach of a representation or warranty contained in Section 2.03.

  • Early Construction of Base Case Facilities Developer may request Connecting Transmission Owner to construct, and Connecting Transmission Owner shall construct, subject to a binding cost allocation agreement reached in accordance with Attachment S to the ISO OATT, including Section 25.8.7 thereof, using Reasonable Efforts to accommodate Developer’s In-Service Date, all or any portion of any System Upgrade Facilities or System Deliverability Upgrades required for Developer to be interconnected to the New York State Transmission System which are included in the Base Case of the Class Year Study for the Developer, and which also are required to be constructed for another Developer, but where such construction is not scheduled to be completed in time to achieve Developer’s In-Service Date.

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