Examples of Abandonment Decision in a sentence
FDA Regulations No Longer Authorize the Use of BPA in Infant Formula Packaging Based on Abandonment; Decision Not Based on Safety.
Upon the occurrence of an Abandonment Decision and unless the Board of Directors decides, in its absolute discretion, to turn over to a third person the responsibility of selling the Single-Family Rental Assets, the Manager shall liquidate the Single-Family Rental Assets or any other assets and investments that are related or subject to the Abandonment Decision, as applicable, in a prompt and orderly manner intended to achieve the maximum value for such assets and investments.
Without limiting the generality of the foregoing, the Board of Directors shall have the right, at any time, for any reason, in its absolute discretion, to make an Abandonment Decision.
Failure by the Manager to use reasonable best efforts to comply in all material respects with the written plan for liquidation for effecting an Abandonment Decision shall be grounds for a “Cause Event” pursuant to Section 14, for which no fee, payment or other compensation shall be due the Manager; provided that, in lieu of such termination, the Board of Directors may appoint a third party to effectuate an Abandonment Decision, and in such event the Manager shall bear all costs of such third party.
Notwithstanding any provision to the contrary contained in this Agreement, from and after the effective date of an Abandonment Decision, the Manager shall not take any action inconsistent with such Abandonment Decision and this Section 8(a).
For the avoidance of doubt, the Manager shall not be entitled to any compensation, fee or penalty as a result of the sale and liquidation of Single-Family Rental Assets or any other assets and investments that are related or subject to an Abandonment Decision sold by Residential or any of the Subsidiaries in connection with an Abandonment Decision (other than, for the avoidance of doubt, the Base Fee, Incentive Fee and Conversion Fees payable pursuant to this Agreement).
The Board of Directors, in its absolute discretion, may deny the Manager, any Manager Related Party or any of their Affiliates the right to bid, purchase or otherwise acquire any Single-Family Rental Assets or any other assets and investments that are related or subject to an Abandonment Decision sold by Residential or any of the Subsidiaries in connection with an Abandonment Decision.
ExxonMobil submits that it is also important to reiterate the Board’s comment from the NGTL Mainline Abandonment Decision on cumulative effects in the context of an abandonment project: …unlike an assessment for construction of new facilities, the Project is an abandonment project: the facilities already exist and are in place, within the current environment context.76 59.
An Abandonment Decision shall not result in, or otherwise require, payment by Residential or any of the Subsidiaries or their Affiliates to the Manager of any compensation, fee (other than, for the avoidance of doubt, the Base Fee, Incentive Fee and Conversion Fees payable pursuant to this Agreement) or penalty.
Notwithstanding anything to the contrary contained in this Agreement, an Abandonment Decision regarding any particular line of business shall not prohibit Residential or any Subsidiary from re-engaging in such line of business.