Examples of Excused Delay in a sentence
To the extent an Unexcused Delay is concurrent with an Excused Delay, the Excusable Delay shall be conclusively deemed an Unexcused Delay.
Promptly following the occurrence of any Excused Delay and Seller’s knowledge thereof, Seller shall give notice thereof to Buyer and be entitled to an extension to each Milestone Date as set forth in this paragraph.
To the extent an Excused Delay set forth in clause (a), (b) or (c) of the definition thereof occurs and lasts for more than three hundred sixty-five (365) days, either Party shall be entitled to terminate this Agreement and Buyer shall return any Development Security to Seller promptly following such termination; provided that if such termination occurs after the date the Ute Mountain Ute Lease Approvals are obtained, Seller shall not be entitled to a return of its Development Security.
Upon the request of Seller, and provided that the existence or duration of any Excused Delay is not the subject of a good faith dispute between the Parties and no Seller Event of Default has occurred and is continuing, Utility agrees to provide reasonable assurances to Seller’s Lenders and other financial institutions that the Scheduled Commercial Operation Date has been extended under this Section 2.7.
If Seller fails to achieve Commercial Operation on or before the Scheduled Commercial Operation Date due to an Excused Delay, the Scheduled Commercial Operation Date shall be deemed extended on a day-for-day basis to match the duration of such Excused Delay.