Termination of Funding Obligation Sample Clauses

Termination of Funding Obligation. PHB may terminate PHB’s obligation to disburse additional funds to Subrecipient; and
Sample 1Sample 2Sample 3See All (7)
AutoNDA by SimpleDocs
Termination of Funding Obligation. In the event that (a) RUSNANO does not purchase shares of the Company’s Series F-2 Preferred Stock in accordance with the terms described in that certain Investment and Voting Agreement of even date herewith (the “I/V Agreement”), or (b) RUSNANO decreases its holdings of shares of Series F-2 Preferred Stock by one or more shares until the commencement of Period 2, then in either case the Company’s obligation to provide the Russian Funding to RusCo during Period 2 shall terminate and cease in its entirety and, accordingly, the Period 2 Penalty (as defined below) shall not apply.
Sample 1Sample 2Sample 3
Termination of Funding Obligation. (a) The SERI Funding Obligation shall terminate (the "Funding Termination") upon the earliest to occur of: (i) a termination of Development Services in accordance with the terms hereof, (ii) an Event of Default by MESC (or the Cogen Subsidiary, if applicable), (iii) the Maximum Development Exposure Amount equals or exceeds five million dollars ($5,000,000), (iv) the date thirty (30) days after the Equity Notice Date, if MESC has, on or prior to such date, given SEI the Non-SEI Equity Investment Notice, in accordance with the terms hereof, provided that such date shall be extended to the date sixty (60) days after the Equity Notice Date, if one or more of the Extension Conditions exists, (v) the date sixty (60) days after the Equity Notice Date, if MESC has, on or prior to such date, given SEI the SEI Equity Investment Notice, in accordance with the terms hereof, (vi) the closing of the Cogen Project Financing, (vii) February 29, 2000, in the event that both (x) the Comprehensive POR is not filed with the Bankruptcy Court and (y) the KCTC Compromise Approval is not issued, in each case on or before February 29, 2000, for any reason other than a breach by SEI or SERI or any of their obligations hereunder, and (viii) the closing of the SEI Cogen Investment or the Non-SEI Equity Investment.
Sample 1Sample 2
Termination of Funding Obligation. The obligation of each Fund X Entity to fund (or cause its Limited Partners or one or more of their Affiliates to fund) its Maximum Investment Commitment will terminate automatically and immediately upon the earlier to occur of: (a) the expiry of the Certain Funds Period (as defined below); and (b) the funding in full of its Maximum Investor Commitment to Bidder pursuant to this equity commitment letter (the earlier of (a) and (b) (as applicable) being the “Expiration Time”). From and after the Expiration Time, all rights and obligations of the relevant parties hereunder shall terminate and there shall be no liability on the part of any such party hereto.
Sample 1
Termination of Funding Obligation. (a) The SERI Funding Obligation shall terminate (the "Funding Termination") upon the earliest to occur of: (i) a termination of Development Services in accordance with the terms hereof, (ii) an Event of Default by MESC (or the Cogen Subsidiary, if applicable), (iii) the Maximum Development Exposure Amount equals or exceeds five million dollars ($5,000,000), (iv) the date thirty (30) days after the Equity Notice Date, if MESC has, on or prior to such date, given SEI the Non-SEI Equity Investment Notice, in accordance with the terms hereof, provided that such date shall be extended to the date sixty (60) days after the Equity Notice Date, if one or more of the Extension Conditions exists, (v) the date sixty (60) days after the Equity Notice Date, if MESC has, on or prior to such date, given SEI the SEI Equity Investment Notice, in accordance with the terms hereof, (vi) the closing of the Cogen Project Financing, (vii) February 29, 2000, in the event that both (x) the Comprehensive POR is not filed with the Bankruptcy Court and (y) the KCTC Compromise Approval is not issued, in each case on or before February 29, 2000, for any reason other than a breach by SEI or SERI or any of their obligations hereunder, and (viii) the closing of the SEI Cogen Investment or the Non-SEI Equity Investment. (b) Without limiting any other right of SEI or SERI hereunder, from and after a Funding Termination, SERI and its Affiliates shall not be required to advance any funds or incur any further Development Costs, and SERI may take such action as it deems reasonable to minimize its liability for Development Costs thereafter, including issuing a stop work order on any contract related to the Cogen Project for which SERI or its Affiliates are liable, deferring the performance of the EPC Contractor (to the extent SERI or its Affiliates would be liable for costs or other liability under the EPC Agreement) and deferring the manufacture and installation of any equipment to be supplied by a third party, including the XX Xxxxx Turbine and the heat recovery steam generator. ARTICLE IV TURBINE
Sample 1
Termination of Funding Obligation. Other than as set forth herein and notwithstanding anything in the MFA to the contrary, Qualigen shall have no further obligation under the MFA to provide any funding to Nano, whether under the MFA or otherwise (including by way of equity investment, loan financing or credit lines).
Sample 1
Termination of Funding Obligation. PEV may elect to terminate its funding obligations under this Section 2.2.2 if (A) PEV provides MEP with written notice of material breach of this Agreement and MEP fails to cure such breach within twenty (20) days of such notice, provided further that if the nature of the breach is such that it cannot be cured with reasonable effort within twenty (20) days of such notice, the time for cure shall be extended to ninety (90) days of such notice so long as MEP both initiates efforts to cure in the first twenty (20) days, and works diligently toward cure, or (B) if MEP fails to either (i) achieve the First Milestone within twelve months of the Closing, or (ii) achieve the Second Milestone within eighteen months of the Closing. If PEV elects to terminate its funding obligations pursuant to this provision, the termination shall be effective upon PEV providing written notice of its election to MEP.
Sample 1
AutoNDA by SimpleDocs
Termination of Funding Obligation. Grantor may, by and effective upon written notice to Grantee, terminate Grantor’s obligation to disburse additional Grant funds to Grantee.
Sample 1

Related to Termination of Funding Obligation

  • Termination of Fund At any time following the first anniversary of the Closing Date, the Surviving Corporation shall be entitled to require the Paying Agent to deliver to it any funds (including any interest received with respect thereto) that had been made available to the Paying Agent and which have not been disbursed to holders of Certificates, and thereafter such holders shall be entitled to look only to Parent and the Surviving Corporation (subject to abandoned property, escheat or other similar Laws) as general creditors thereof with respect to the payment of any Merger Consideration that may be payable upon surrender of any Certificates held by such holders, as determined pursuant to this Agreement, without any interest thereon. Any amounts remaining unclaimed by such holders at such time at which such amounts would otherwise escheat to or become property of any Governmental Authority shall become, to the extent permitted by applicable Law, the property of Parent, free and clear of all claims or interest of any Person previously entitled thereto.

  • Termination of Reporting Obligation The Servicer’s obligation to deliver or cause the delivery of reports under this Section 3.5 will terminate on payment in full of the Notes.

  • Termination of Trust Section 9.01

  • Termination of Obligations to Effect Closing; Effects (a) The obligations of the Company, on the one hand, and the Investors, on the other hand, to effect the Closing shall terminate as follows:

  • Consequences of a Servicer Termination Event If a Servicer Termination Event shall occur and be continuing, the Trust Collateral Agent may, or at the direction of the Majority Noteholders shall, by notice given in writing to the Servicer (and to the Trust Collateral Agent if given by the Noteholders) terminate all of the rights and obligations of the Servicer under this Agreement. On or after the receipt by the Servicer of such written notice or upon termination of the term of the Servicer, all authority, power, obligations and responsibilities of the Servicer under this Agreement, whether with respect to the Notes, the Certificate or the Other Conveyed Property or otherwise, shall pass to, be vested in and become obligations and responsibilities of the successor Servicer appointed by the Majority Noteholders; provided, however, that the successor Servicer shall have no liability with respect to any obligation which was required to be performed by the terminated Servicer prior to the date that the successor Servicer becomes the Servicer or any claim of a third party based on any alleged action or inaction of the terminated Servicer. The successor Servicer is authorized and empowered by this Agreement to execute and deliver, on behalf of the terminated Servicer, as attorney-in-fact or otherwise, any and all documents and other instruments and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement of the Receivables and the Other Conveyed Property and related documents to show the Trust as lienholder or secured party on the related Lien Certificates, or otherwise. The terminated Servicer agrees to cooperate with the successor Servicer in effecting the termination of the responsibilities and rights of the terminated Servicer under this Agreement, including, without limitation, the transfer to the successor Servicer for administration by it of all cash amounts that shall at the time be held by the terminated Servicer for deposit, or have been deposited by the terminated Servicer, in the Collection Account or thereafter received with respect to the Receivables and the delivery to the successor Servicer of all Receivable Files, Monthly Records and Collection Records and a computer tape in readable form as of the most recent Business Day containing all information necessary to enable the successor Servicer to service the Receivables and the Other Conveyed Property. The terminated Servicer shall grant the Trust Collateral Agent, the successor Servicer and the Majority Noteholders reasonable access to the terminated Servicer’s premises at the terminated Servicer’s expense.

  • Termination of Obligations Termination of this Agreement pursuant to Section 10.1 hereof shall terminate all obligations of the parties hereunder, except for the obligations under Article IX, Article X, and Sections 11.4, 11.7, 11.14, 11.15 and 11.16 hereof; provided, however, that termination pursuant to paragraphs (b) or (c) of Section 10.1 shall not relieve the defaulting or breaching party or parties from any liability to the other parties hereto.

  • Procedure Upon Termination of Trust (a) Notice of any termination pursuant to the provisions of Section 10.1, specifying the Distribution Date upon which the final distribution shall be made, shall be given promptly by the Trustee by first class mail to the Paying Agent, the Rating Agencies, the Class R-I, Class R-II and REMIC III Certificateholders mailed no later than ten days prior to the date of such termination. Such notice shall specify (A) the Distribution Date upon which final distribution on the Class R-I, Class R-II and REMIC III Certificates will be made, and upon presentation and surrender of the Class R-I, Class R-II and REMIC III Certificates at the office or agency of the Certificate Registrar therein specified, and (B) that the Record Date otherwise applicable to such Distribution Date is not applicable, distribution being made only upon presentation and surrender of the Class R-I, Class R-II and REMIC III Certificates at the office or agency of the Certificate Registrar therein specified. The Trustee shall give such notice to the Depositor and the Certificate Registrar at the time such notice is given to Holders of the Class R-I, Class R-II and REMIC III Certificates. Upon any such termination, the duties of the Certificate Registrar with respect to the Class R-I, Class R-II and REMIC III Certificates shall terminate and the Trustee shall terminate, or request the Master Servicer and the Paying Agent to terminate, the Certificate Account and the Distribution Account and any other account or fund maintained with respect to the Certificates, subject to the Paying Agent's obligation hereunder to hold all amounts payable to the Class R-I, Class R-II and REMIC III Certificateholders in trust without interest pending such payment.

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