The Restoration Plan Clause Samples
The Restoration Plan clause outlines the procedures and responsibilities for restoring property or assets to their original condition following damage or disruption. Typically, this clause specifies the steps required for assessment, approval, and execution of restoration work, and may detail who bears the costs and the standards to which restoration must be completed. Its core practical function is to ensure that all parties understand their obligations in the event of damage, thereby minimizing disputes and facilitating a clear, efficient recovery process.
The Restoration Plan. Capital Southwest shall retain sponsorship of the Restoration Plan. Effective as of the Distribution Date, all CSWI Company Employees shall cease active participation in the Restoration Plan. CSWI shall take all actions necessary to establish a non-qualified deferred compensation plan containing substantially the same terms as the Restoration Plan, effective as of the Distribution Date (the “CSWI Restoration Plan”). All Liabilities with respect to benefits accrued under the Restoration Plan on behalf of CSWI Company Employees shall be transferred to the CSWI Restoration Plan and assumed by CSWI. All CSWI Company Employees who participated in the Restoration Plan immediately prior to the Distribution Date shall become active participants in the CSWI Restoration Plan effective on the Distribution Date. After the Distribution Date, Capital Southwest shall make payments to Capital Southwest Company Employees and Former Employees with vested benefits under the Restoration Plan in accordance with the terms of the Restoration Plan, as in effect from time to time, and CSWI shall make payments to CSWI Company Employees under the CSWI Restoration Plan in accordance with the terms of the CSWI Restoration Plan, as in effect from time to time.
The Restoration Plan. The activities will be performed pursuant to the Restoration Plan approved by Grantor and described in the Mitigation Permits, at Grantee’s sole cost and expense.
The Restoration Plan. Developer has prepared a preliminary Restoration Plan that identifies the project area, goals, enhancement activities, and a schedule for the performance of the enhancement activities, including the removal of nuisance species and the planting of desirable wetland species, as set forth in Exhibit “B” to this Agreement (“Preliminary Restoration Plan”). As soon as possible after execution of this Agreement, Developer shall, at its own expense, complete the Mitigation Plan, present the Mitigation Plan to Pasco County’s ELAMP Division for its review, input and approval, and obtain all necessary permits and approvals, including a permit from SWFWMD & ACOE, and provide to County any necessary bond(s), for the work identified in the Mitigation Plan. Developer shall pay all costs associated with preparing and obtaining the necessary permit(s).