Demand Reduction Event definition

Demand Reduction Event means an event in which the Court is required to close or cease regular operations for twenty (20) or more days in any given Billing Cycle, not including regular Court holidays.
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Demand Reduction Event. Such notice shall include the date of commencement of the Demand Reduction Event, as well as the length of time it is expected to continue. The Judicial Council shall also provide notice of the date of cessation of the Demand Reduction Event. In any Billing Cycle in which a Demand Reduction Event occurs, the Court shall only be contractually required to purchase the amount of electricity actually used by the Court. The Term of this SPPA shall be extended on a day-for-day basis equal to the days the Court is required to close or cease regular operations. The Fixed Price for Contract Year 20 shall continue in effect throughout the duration of such extension. 39
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Examples of Demand Reduction Event in a sentence

  • In any Billing Cycle in which a Demand Reduction Event occurs, the Court shall only be contractually required to purchase the amount of electricity actually used by the Court.

  • The Judicial Council shall also provide notice of the date of cessation of the Demand Reduction Event.

  • If the Court is required to close or cease regular operations for twenty (20) business days or more in any given Billing Cycle, excluding regular Court holidays, as a result of a public health order, the Judicial Council shall promptly provide written notice thereof to the Contractor, hereinafter a “Demand Reduction Event.” Such notice shall include the date of commencement of the Demand Reduction Event, as well as the length of time it is expected to continue.

  • If the Court is required to close or cease regular operations for twenty (20) Business Days or more in any given Billing Cycle, excluding regular Court holidays, the Judicial Council shall promptly provide written notice thereof to the Contractor, hereinafter a “Demand Reduction Event.” Such notice shall include the date of commencement of the Demand Reduction Event, as well as the length of time it is expected to continue.

Related to Demand Reduction Event

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • Reduction Event means any of the following:

  • Commitment Termination Event means the earlier of (a) automatically and without notice or further action, the occurrence of any Event of Default described in Section 7.01(i) (Bankruptcy, Insolvency, etc.) with respect to the Borrower and (b) the occurrence and continuation of any other Event of Default under this Agreement pursuant to which either a Commitment Termination Event has been expressly declared or a declaration of the Loan to be due and payable has been given, in each case pursuant to Section 7.03 (Action if other Event of Default).

  • Appraisal Reduction Event With respect to any Serviced Loan, the earliest of (i) the date on which such Serviced Loan becomes a Modified Asset, (ii) the date on which such Serviced Loan is 60 days or more delinquent in respect of any Monthly Payment, which does not include a Balloon Payment, (iii) solely in the case of a delinquent Balloon Payment, (A) the date occurring 60 days after the date on which such Balloon Payment was due (except as described in the immediately following clause (B)) or (B) if the related Mortgagor has delivered to the Master Servicer (who shall promptly deliver a copy thereof to the Special Servicer) or the Special Servicer (who shall promptly deliver a copy thereof to the Master Servicer) a refinancing commitment acceptable to the Special Servicer prior to the date 60 days after the Balloon Payment was due, the date occurring 120 days after the date on which the Balloon Payment was due (or such shorter period beyond the date on which that Balloon Payment was due during which the refinancing is scheduled to occur), (iv) the date on which the related Mortgaged Property has become an REO Property, (v) a receiver or similar official is appointed and continues for 60 days in such capacity in respect of the related Mortgaged Property, (vi) 60 days after the related Mortgagor is subject to a bankruptcy, insolvency or similar proceedings, which, in the case of an involuntary bankruptcy, insolvency or similar proceeding, is not dismissed within those 60 days, or (vii) the date on which such Serviced Loan remains outstanding five (5) years following any extension of its maturity date pursuant to Section 3.24 of this Agreement. If an Appraisal Reduction Event occurs with respect to any Serviced Mortgage Loan that is part of a Serviced Loan Combination, then an Appraisal Reduction Event shall be deemed to have occurred with respect to the related Serviced Companion Loan(s). If an Appraisal Reduction Event occurs with respect to any Serviced Companion Loan that is part of a Serviced Loan Combination, then an Appraisal Reduction Event shall be deemed to have occurred with respect to the related Serviced Mortgage Loan and any other Serviced Companion Loan(s) included as part of that Serviced Loan Combination. No Appraisal Reduction Event may occur at any time when the aggregate Certificate Balance of all Classes of Principal Balance Certificates (other than the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates) has been reduced to zero. The Special Servicer shall notify the Master Servicer and the Master Servicer shall notify the Special Servicer, as applicable, promptly upon the occurrence of any of the foregoing events.

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.