Facility Adjustment definition

Facility Adjustment means a physical passage facility upgrade, improvement, or addition that was part of the original design of the passage facility, or an adjustment to the fish passage facility or its operations. A "'Facility Modification" means a physical alteration or addition to a physical passage facility that requires a new design. When making Facility Modifications, the Licensee must follow the design process set out in Section 4.1.2 of the Settlement Agreement, in Consultation with the ACC (including at least the Services). Whenever any Facility Adjustment or Facility Modification is completed, the Licensee must test the operation of the relevant facility for a reasonable time to determine the effectiveness of such adjustment or modification. At the direction of the Services and after any required Commission approvals and obtaining all required Permits, the Licensee must make Facility Adjustments and Facility Modifications to the relevant passage facility to achieve the relevant performance standards for each of the species designated in the Settlement Agreement as soon as practicable.
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Facility Adjustment means a physical passage facility upgrade, improvement, or addition that was part of the original design of the passage facility, or an adjustment to the fish passage facility or its operations. A "Facility Modification" means a physical alteration or addition to a physical passage facility that requires a new design. When making Facility Modifications, the Licensee must follow the design process set out in Section 4.1.2 of the Settlement Agreement, in Consultation with the ACC (including at least the Services).
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Facility Adjustment means the amount determined pursuant to Section 3.16 hereof (but in no event greater than $300,000) by which the Purchase Price may be reduced as a result of specified Capital Enhancements.
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Examples of Facility Adjustment in a sentence

  • Notwithstanding the foregoing (and without limitation of the proviso to the definition of “Potential Facility Adjustment Event”), upon the occurrence of any Facility Adjustment Event or Potential Facility Adjustment Event, the adjustments, if any, in respect thereof pursuant to the two immediately preceding paragraphs will not, solely as a result of such adjustment, directly cause a Mandatory Prepayment Event to have occurred and be continuing immediately after giving effect thereto.

  • No Agent shall be deemed to have knowledge of any Facility Adjustment Event, Mandatory Prepayment Event, Default or Event of Default or the event or events that give or may give rise to any Facility Adjustment Event, Mandatory Prepayment Event, Default or Event of Default unless and until Borrower or any Lender shall have given notice to such Agent describing such Facility Adjustment Event, Mandatory Prepayment Event, Default or Event of Default and such event or events.

  • Within two Business Days following the occurrence of any Facility Adjustment Event or Potential Facility Adjustment Event, Calculation Agent shall notify each Lender of the adjustments to the terms or provisions of the Facility that it proposes to make in respect thereof, and the proposed effective time therefor (or its determination that no such adjustment is necessary).

  • No Agent shall be deemed to have knowledge of any Facility Adjustment Event, Mandatory Prepayment Event, Default or Event of Default or the event or events that give or may give rise to any Facility Adjustment Event, Mandatory Prepayment Event, Default or Event of Default unless and until Borrower or any Lender shall have given written notice to such Agent describing such Facility Adjustment Event, Mandatory Prepayment Event, Default or Event of Default and such event or events.

  • Within two Business Days following the occurrence of any Facility Adjustment Event or Potential Facility Adjustment Event, the Calculation Agent shall notify the Lender and the Borrowers of the adjustments to the terms or provisions of the Facility that it proposes to make in respect thereof, and the proposed effective time therefor (or its determination that no such adjustment is necessary).

  • No Default or Event of Default has occurred and is continuing or would result from the consummation of the Transactions, and, to the knowledge of such Loan Party, no Mandatory Prepayment Event, Facility Adjustment Event or Potential Facility Adjustment has occurred and is continuing or would result from the consummation of the Transactions.

  • Following the occurrence of any Facility Adjustment Event or Potential Facility Adjustment Event, Calculation Agent shall notify each Lender of the adjustments to the terms or provisions of the Facility that it proposes to make in respect thereof, and the proposed effective time therefor (or its determination that no such adjustment is necessary).

  • Calculation Agent shall not make any adjustment in respect of a Facility Adjustment Event or Potential Facility Adjustment Event prior to the earlier of (i) the fifth Business Day following the occurrence thereof and (ii) its receipt of notice from Required Lenders of any alternative adjustments (and a proposed effective time therefor) or that they agree with Calculation Agent’s proposed adjustments (and the effective time therefor).

  • The payment of the Discount Charge shall be made in the currency in which the relevant part of Capital is denominated by way of a cash payment made by the Company to the Agent for the account of the Receivables Purchaser, as contemplated by Clause 5.1 (Payment of Purchase Price) or, as the case may be, Clause 5.10 (Facility Adjustment Notices).

  • The foregoing adjustment to the amount of the Senior Term Loan Facility shall be referred to as the “Senior Term Loan Facility Adjustment Mechanism”.