Temporary Cessation of Operations Sample Clauses

Temporary Cessation of Operations. If PWE temporarily ceases operation of Redhawk Units 1 and 2 (for reasons other than because PVNGS is using Tolleson Effluent to the extent that there is insufficient Tolleson Effluent available for PWE to operate Redhawk Units 1 and 2), and as a result PWE does not take any Tolleson Effluent under this Agreement for a period in excess of three years, APS and SRP shall provide PWE notice of their intention to terminate this Agreement. Within sixty days after receipt of such notice, PWE may elect to begin paying a "Holding Fee" to APS and SRP in the amount of $10 per acre-foot per year for each acre-foot of Tolleson Effluent to which PWE desires to retain its rights under this Agreement. As long as PWE continues paying the Holding Fee to APS and SRP, this Agreement shall remain in full force and effect, provided, however, that an election to pay the Holding Fee (i) shall not release PWE from its obligation to satisfy the "take or pay" obligations required by Article 4 herein and by the Tolleson Agreement, and (ii) shall obligate PWE to pay the annual fee in Section 4.3.3 in addition to the Holding Fee. If PWE fails to make the first annual Holding Fee payment within sixty days after receiving notice from APS and SRP as provided in this Section, this Agreement shall terminate on the sixty-first day after that notice is received by PWE.
Sample 1
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Temporary Cessation of Operations. After the commencement of Commercial Production from the Mineral Rights and the Property, PROMISEE may work, mine and operate the Mineral Rights and the Property during such time or times as PROMISEE in its sole judgment considers such operations to be profitable. PROMISEE may suspend or curtail operations (both before and after commencement of Commercial Production) during periods when the products derived from the Property cannot be profitably sold at prevailing prices or if an unreasonable inventory thereof, in PROMISEE’s sole judgment, has accumulated or would otherwise accumulate.
Sample 1

Related to Temporary Cessation of Operations

  • Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

  • Control of Operations Without in any way limiting any party’s rights or obligations under this Agreement, the parties understand and agree that (a) nothing contained in this Agreement shall give Parent or the Company, directly or indirectly, the right to control or direct the other party’s operations prior to the Effective Time and (b) prior to the Effective Time, each of the Company and Parent shall exercise, consistent with the terms and conditions of this Agreement, complete control and supervision over its operations.

  • Statement of Operations d. Statement of Changes in Net Assets.

  • Continuity of Operations (1) Engage in any business activities substantially different than those in which Borrower is presently engaged, (2) cease operations, liquidate, merge, transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell Collateral out of the ordinary course of business, or (3) pay any dividends on Borrower's stock (other than dividends payable in its stock), provided, however that notwithstanding the foregoing, but only so long as no Event of Default has occurred and is continuing or would result from the payment of dividends, if Borrower is a "Subchapter S Corporation" (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of Borrower's stock, or purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Hours of Operation Account Processing Services will be available for use by Client during standard Fiserv business hours, excluding holidays, as specified in Exhibit A - 3. Account Processing Services may be available during additional hours, during which time Client may use Services at its option and subject to additional charges.

  • Description of Accounting Services on a Continuous Basis PFPC will perform the following accounting services with respect to each Portfolio:

  • Resignation of Operator Subject to Article 4.11, Operator may resign as Operator at any time by so notifying the other Parties at least one hundred and twenty (120) Days prior to the effective date of such resignation.

  • Maintenance of Operations The Servicer agrees to continue to operate its distribution system to provide service to its customers so long as it is acting as the Servicer under this Agreement.

  • Conduct of Operations The Board of Directors and the General Partner shall use commercially reasonable efforts to conduct the business of the Partnership and its Affiliates in a manner that does not require a holder of Common Units to file a tax return in any jurisdiction with which the holder has no contact other than through ownership of Common Units.

  • Duration of Operating Expense Limit The Operating Expense Limit with respect to the Fund shall remain in effect during the term of this Agreement.

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