Abandonment Event definition

Abandonment Event means (a) prior to the Commercial Operation Date, Supplier or Supplier’s contractors cease activities related to the development, construction planning, construction, testing, or inspection of the Project for a period of 30 consecutive days and such cessation is not caused by Force Majeure; (b) following the Commercial Operation Date, Supplier ceases operation and maintenance of the Generating Facility for a period of 30 consecutive days and such cessation is not caused by Force Majeure; (c) any event occurs that results in physical damage to a material portion of the Generating Facility or to any material equipment at the Generating Facility (including as a result of Force Majeure) and Supplier either elects to not, or is not permitted to, repair or restore the Generating Facility to substantially the same condition as existed prior to the occurrence of such event; or (d) or a condemnation event occurs with respect to the Generating Facility or a material portion of the Site.
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Abandonment Event means the first, if any, of the following events occurring after the Land Closing and before Commencement of Construction: (i) the Company or Property Owner defers Commencement of Construction for at least one year beyond the scheduled commencement date under the Construction Schedule; (ii) except in the case of a default by the Architect or a Bankruptcy/Dissolution Event with respect to the Architect, Bluerock causes the Company or Property Owner to terminate or otherwise be in default under the Architect’s Contract (after notice of default and the expiration of the applicable cure period) unless a replacement Architect’s Contract is entered into within sixty (60) days thereafter; or (iii) after Project Manager and Development Manager, on behalf of Property Owner, agree on the Final Construction Schedule, the Final Development Budget for the Project and General Contract, Bluerock has failed to cause the Company to issue a notice to proceed to the General Contractor within 90 days after the scheduled date for the Commencement of Construction set forth in the Final Construction Schedule other than for good cause including, without limitation, the inability to obtain construction financing on commercially reasonable terms notwithstanding Bluerock’s reasonable efforts to obtain such financing.
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Abandonment Event means the first, if any, of the following events occurring after Property Owner acquires all of Parcels A, C, F, G and H and before Commencement of Construction: (i) Bluerock notifies ArchCo in writing that Bluerock (A) no longer intends to cause the Property Owner to acquire any Parcel subject to an Existing Agreement by the outside closing date called for under the respective Existing Agreement, or
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Examples of Abandonment Event in a sentence

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  • If, for any reason other than a default by Bluerock, either the § 16 FMV has not been determined in accordance with Section 16.3 within 30 days after an Abandonment Event occurs or ArchCo does not purchase Bluerock’s Interest on or before the Bluerock Interest Closing Deadline in accordance with this Section 16, ArchCo’s right to purchase Bluerock’s Interest under this Section 16 shall expire.

  • The broker or three (3) brokers, as the case may be, shall complete the Evaluation and determine the §16 FMV within the end of the thirty (30) day period following the Abandonment Event (the "FMV Determination Period").

  • If, for any reason other than a default by Bluerock, either the § 16 FMV has not been determined in accordance with Section 16.3 within 30 days after an Abandonment Event occurs or ArchCo does not purchase Bluerock's Interest on or before the Bluerock Interest Closing Deadline in accordance with this Section 16, ArchCo' s right to purchase Bluerock's Interest under this Section 16 shall expire.

  • For purposes of this Section 16, the purchase price for Bluerock’s Interest (the “Bluerock Interest Price”) shall be determined in the manner set forth below in this Section 16.3. For a period of five (5) days after the date on which an Abandonment Event occurs (the “FMV Negotiation Period”), Bluerock and ArchCo shall negotiate in good faith in an effort to agree upon the fair market value of the Property (“§16 FMV”).

  • The broker or three (3) brokers, as the case may be, shall complete the Evaluation and determine the §16 FMV within the end of the thirty (30) day period following the Abandonment Event (the “FMV Determination Period”).

  • None of the Members or the Manager shall provide any instruction, direction or information to any of the brokers other than a copy of the instructions set forth in this Section 16, the Members’ § 16 FMVs and written information regarding the Property and the Project prepared by or on behalf of the Company or the Property Owner before the Abandonment Event.

  • When private agreements fail, the parties fall back on the state process of bankruptcy.

  • The broker(s) shall determine the §16 FMV by evaluating both Members’ proposed §16 FMVs in light of the fair market value of the Property, such fair market value being the fairest price estimated in the terms of money that the Company could obtain if the Property was sold in the open market allowing a reasonable time to find a purchaser who purchases with knowledge of the business of the Property at the time of the Abandonment Event.

  • For purposes of this Section 16, the purchase price for Bluerock's Interest (the "Bluerock Interest Price") shall be determined in the manner set forth below in this Section 16.3. For a period of five (5) days after the date on which an Abandonment Event occurs (the "FMV Negotiation Period"), Bluerock and ArchCo shall negotiate in good faith in an effort to agree upon the fair market value of the Property ("§16 FMV").


More Definitions of Abandonment Event

Abandonment Event means the earlier to occur of (i) the abandonment of a sale process (intended to result in a Sale Transaction) by the non-management members of the Board, as determined in the sole discretion of such non-management members of the Board (such determination to be made in a manner consistent with the procedures for taking Board actions set forth in the Company’s governing documents) and (ii) if a Definitive Agreement has not been executed prior to such date, the one
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Abandonment Event means the Licensee fails to Commercialise the Intellectual Property for a period of 2 years. Agreement means this Agreement and any appendices to it.
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Related to Abandonment Event

  • Replacement Event shall have the meaning specified in Section 11.16.

  • Significant Event means any Amortization Event or Event of Default.

  • Announcement Event means the occurrence of an Announcement Date in respect of a Merger Event or Tender Offer, notwithstanding the fact that such Merger Date or Tender Offer Date may not, or may not be anticipated to, occur on or prior to the Valuation Date for the related Component. The definition of “Announcement Date” in Section 12.1(l) of the Equity Definitions shall be amended by (a) replacing the word “leads” in the third line thereof and in the fifth line thereof with the words “could lead (as determined by the Calculation Agent)” (b) deleting the word “firm” in the second and fourth lines thereof and (c) inserting the words “, and any publicly announced change or amendment to such an announcement (including the announcement of an abandonment of such intention)” at the end of clauses (i) and (ii) thereof. Consequences of Merger Events: Merger Event:

  • Repayment Event means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness (or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment of all or a portion of such indebtedness by the Company or any of its subsidiaries.

  • Payment Event means the event or events giving rise to the right to payment of a Performance Award.

  • Procurement Event means the request for proposals, the evaluation of proposals and bids for wholesale energy products, and the execution of the applicable supplier contracts with Ameren Illinois Company as a counterparty pursuant to the Procurement Plan for the period starting in June 2021, as proposed by the Illinois Power Agency and approved by the Illinois Commerce Commission in Docket No. 20-0717.

  • Put Event means the occurrence of:

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Incipient Event of Termination means an event that but for notice or lapse of time or both would constitute an Event of Termination.

  • Relevant Event means any Termination Event or any Mandatory Prepayment Event or any event which after the giving of notice or lapse of time or the satisfaction of any other condition (or any combination thereof) would constitute a Termination Event or a Mandatory Prepayment Event;

  • Prepayment Event means any Asset Sale Prepayment Event, Debt Incurrence Prepayment Event, Casualty Event or any Permitted Sale Leaseback.

  • Index Replacement Event means each of the following events:

  • Enforcement Event means an Event of Default.

  • Amendment Event means that Counterparty amends, modifies, supplements, waives or obtains a waiver in respect of any term of the Indenture or the Convertible Securities governing the principal amount, coupon, maturity, repurchase obligation of Counterparty, redemption right of Counterparty, any term relating to conversion of the Convertible Securities (including changes to the conversion price, conversion settlement dates or conversion conditions), or any term that would require consent of the holders of not less than 100% of the principal amount of the Convertible Securities to amend, in each case without the consent of Dealer.

  • Reinvestment Event any Asset Sale or Recovery Event in respect of which the Borrower has delivered a Reinvestment Notice.

  • Knock Out Event means the event as defined in §4(4).

  • Adjustment Event means each of the following events:

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

  • Removal Event has the meaning set forth in Section 12.12 hereof.

  • Potential Adjustment Event means any of the following:

  • Disposition Event means any merger, consolidation or other business combination of the Corporation, whether effectuated through one transaction or series of related transactions (including a tender offer followed by a merger in which holders of Class A Common Stock receive the same consideration per share paid in the tender offer), unless, following such transaction, all or substantially all of the holders of the voting power of all outstanding classes of Common Stock and series of Preferred Stock that are generally entitled to vote in the election of Directors prior to such transaction or series of transactions, continue to hold a majority of the voting power of the surviving entity (or its parent) resulting from such transaction or series of transactions in substantially the same proportions as immediately prior to such transaction or series of transactions.

  • Release Event has the meaning set forth in Section 6(b).

  • Load Management Event means a) a single temporally contiguous dispatch of Demand Resources in a Compliance Aggregation Area during an Operating Day, or b) multiple dispatches of Demand Resources in a Compliance Aggregation Area during an Operating Day that are temporally contiguous.

  • XXXX Event means if there are any Mortgaged Properties at any time, any increase, extension of the maturity or renewal of any of the Commitments or Loans (including any incremental credit facility hereunder, but excluding (i) any continuation or conversion of Borrowings, (ii) the making of any Revolving Loans or (iii) the issuance, renewal or extension of Letters of Credit).

  • Value Adjustment Event means, with respect to any Loan Asset, the occurrence of any one or more of the following events after the related Cut-Off Date:

  • Pay-Out Event means any Pay-Out Event specified in Section 6.01.