Emergency Expenditure definition
Emergency Expenditure means any of the Eligible Expenditures set forth in the CERC Operations Manual in accordance with the provisions of Section I.G of Schedule 2 to this Agreement and required for the activities included in the CERC Part of the Project.
Emergency Expenditure means any of the eligible expenditures set forth in the Contingency Emergency Response Component Manual in accordance with the provisions of Section I.I of Schedule 2 to this Agreement and required for the Contingent Emergency Response Part.
Emergency Expenditure is defined in Section 4.01(b).
Examples of Emergency Expenditure in a sentence
As used herein, "Emergency Expenditure" means an expenditure that, in a Party's reasonable business judgment, is necessary to (a) prevent an imminent threat to the health, safety or welfare of any person to whom the Company or any Company subsidiary may be liable or responsible in the event of such person's injury or death, or (b) prevent imminent damage or loss to any of the property and assets of the Company or any Company subsidiary.
More Definitions of Emergency Expenditure
Emergency Expenditure means amounts required to be incurred in order to respond to an Emergency Situation or to avoid an Emergency Situation in a manner that is consistent with general practices applicable to facilities used in the Company Business, but only to the extent such expenditures are reasonably designed to ameliorate the consequences, or an immediate threat of any of the consequences, of the issues set forth in the definition of “Emergency Situation.”
Emergency Expenditure means an expense that is not included in any Project Annual Budget or any permitted variance therefrom and which is incurred in good faith to avoid or to mitigate a material risk of imminent physical injury to any person, an imminent material financial loss or damage to any Group Member, Joint Venture or Project or an imminent violation of applicable law by any such Person.
Emergency Expenditure means an expense with respect to the Company, the Project Company or the Portfolio that is not included in the Annual Budget and which is incurred, in the reasonable judgment of the Administrator, to avoid or to mitigate a risk of physical injury to any Person or damage to any property, or a violation of law and with respect to which there is not a reasonable opportunity to convene a meeting of the Members in order to obtain prior approval of the expense. The Administrator shall give prompt written notice to the Members of any Emergency Expenditure. Notwithstanding any of the foregoing, for the avoidance of doubt, to the extent an obligation of the Administrator is expressly to be performed at the sole expense of the Company or the Project Company, is not in violation of the express terms of this Agreement, and is not a Nonreimbursable Service, the Administrator shall be reimbursed by the Company or the Project Company, as applicable, for any amount (other than Excluded Expenses) expended from its own funds to perform such obligations.
Emergency Expenditure means any of the Eligible Expenditures set forth in the CERC Operations Manual in accordance with the provisions of Section I.F of Schedule 2 to this Agreement and required for the activities included in the CERC Part of the Project.
Emergency Expenditure means any of the eligible expenditures set forth in the Contingency Emergency Response Component Manual in accordance with the provisions of Section I.D of Schedule 2 to this Agreement, and required for the Contingent Emergency Response Part.
Emergency Expenditure means an expenditure that is not authorized under the annual budget for the current fiscal year and is made in response to an emergency;
Emergency Expenditure shall have the meaning provided in the Management Agreement.