Cure Option definition

Cure Option shall have the meaning set forth in Section 16(e) of the Facility Lease Decommissioning Fund shall mean, with respect to Unit 1 Decommissioning Costs, an external reserve fund which fund shall be segregated from the Lessee's assets, but may be within the Lessee's administrative control, into which deposits are made at least annually in an amount equal to the quotient of (i) Unit 1 Decommissioning Costs (less the balance of the Decommissioning Fund and reasonably projected earnings thereon through the date of expiry of the License) divided by (ii) the number of years remaining until date of expiry of the License, provided that the amount in the Decommissioning Fund, on the date of expiry of the License, shall be at least equal to Unit 1 Decommissioning Costs. 6091.100.2898.55:1 Deed shall mean the Deed, dated as of December 15, 1986, from PNN to the Owner Trustee.

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Cure Option has the meaning set forth in Section 7.3(g).

Cure Option shall have the meaning set forth in Section 16(e) of the Facility Lease.

Examples of Cure Option in a sentence

• Purchaser may exercise the Second Cure Option by delivering a Purchase Election Notice to the Sellers’ Representative at any time during the Second Cure Option Period.

• Upon delivery by the Sellers’ Representative of the Second Cure Notice and the Updated Seller Parties Disclosure Schedule to Purchaser, Purchaser shall have an exclusive option (the “Second Cure Option”) to acquire, at its sole election and on the terms set forth in the Milestone Completion Notice, all, but not less than all, of the Seller Shares within thirty (30) days of receiving the Second Cure Notice and the Updated Seller Parties Disclosure Schedule (the “Second Cure Option Period”).

• The Purchase Election Notice shall set forth the Initial Purchase Price (as set forth in the Milestone Completion Notice) and the proposed closing date of the Acquisition (which shall be the Business Day immediately following the expiration of the Cure Option Period), in each case, subject to the dispute resolution procedures set forth in Section 1.11.

• Purchaser may exercise the Cure Option by delivering a Purchase Election Notice to the Sellers’ Representative at any time during the Cure Option Period.

• If the Underlying Owner of such Subject Amphitheater elects the Cure Option, then such Underlying Owner shall be obligated pursuant to this Agreement to (x) thereafter diligently pursue the correction, cure and repair of the event, circumstance or condition giving rise to such Use Impairment and (y) in any event to complete such correction, cure and repair within one (1) year following the electing of the Cure Option.

• In the event a "Notice of Default" is given under Section 15(iii), the Lessee may, on or prior to the occurrence of an Event of Default resulting therefrom, give written notice to the Lessor stating that the Lessee has elected to exercise the option (the Cure Option) provided in this Section 16(e), which election shall be irrevocable as to the Lessee.

• Right to Cure; Option to Purchase; Etc......................................

• Moreover, the court suggests that any failure to pay such premium to the seller would constitute evidence that the servicing rights were not purchased.

• In the event a "Notice of Default" is given under Section l5(iv), the Lessee may, on or prior to the occurrence of an Event of Default resulting therefrom, give written notice to the Lessor stating that the Lessee has elected to exercise the option (the Cure Option) provided in this Section 16(e), which election shall be irrevocable as to the Lessee.

• In the event that Purchaser exercises a Cure Option, a Seller Burdensome Condition shall have not been deemed to have occurred for purposes of this Agreement.

More Definitions of Cure Option

Cure Option has the meaning given to it in Clause 22.5 (Debt Service Coverage Ratio).

Cure Option shall have the meaning set forth in Section 16(e) of the Facility Lease. Debt shall mean (A) indebtedness for borrowed money, (B) obligations as lessee under leases and (C) obligations under direct or indirect guarantees in respect of, and obligations (contingent or otherwise) to purchase or otherwise acquire or otherwise to assure a creditor against loss in respect of, indebtedness or obligations of others of the kinds referred to in clause (A) or (B) above, if the principal amount (or equivalent) thereof is greater than $20,000,000 for any one item of Debt or $30,000,000 in the aggregate for all items of Debt of the Lessee); Decommissioning shall mean the decommissioning and retirement from service of ▇▇▇▇ ▇, and the related possession, maintenance and disposal of radioactive material used in or produced incident to the possession and operation of Unit 2, including, without limitation, (i) placement and maintenance of Unit 2 in a state of protective storage, (ii) in-place entombment and maintenance of ▇▇▇▇ ▇, (▇▇▇) ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇ ▇, (▇▇) any other form of decommissioning and retirement from service required by or acceptable to the NRC and (v) all activities undertaken incident to the implementation thereof and to the obtaining of NRC authority therefor, including, without limitation, maintenance, storage, custody, removal, decontamination, and disposition of materials, equipment and fixtures, razing of Unit 2, removal and disposition of debris from the PVNGS Site, and restoration of the PVNGS Site related to ▇▇▇▇ ▇ for unrestricted use. Decommissioning Costs shall mean all costs, liabilities and expenses relating or allocable to, or incurred in connection with, the Decommissioning of Unit 2, including, without limitation, (i) any and all costs of activities undertaken to terminate NRC licensing authority and requirements to own, operate and possess ▇▇▇▇ ▇ and to possess radioactive material used in or produced incident to the possession and operation of Unit 2; and (ii) any and all costs of activities undertaken, prior to termination of all NRC licensing 6091.BURNMAM.1106.55:1 authority and requirements with respect to Unit 2 and the radioactive material used in or produced incident to the possession and operation of Unit 2, to possess, maintain, and dispose of radioactive material used in or produced incident to the possession and operation of Unit 2. Deed shall mean the Deed, dated as of August 12, 1986, from PNM to the Owner Trustee.