Firm Contract definition

Firm Contract means a contract for a one-time purchase and is not renewable.
Sample 1Sample 2Sample 3
Firm Contract means an access contract that is not an interruptible contract.
Sample 1
Firm Contract means an arm's length, bona-fide binding contract for purchase and sale, in form and content satisfactory to Bank, for the sale of a Unit to a purchaser unaffiliated and unrelated to Borrower or Guarantor, under which (i) Borrower has received a cash deposit equal to ten percent (10%) of the purchase price except as herein after provided; (ii) Borrower is not obligated to provide any purchase-money financing, (iii) all applicable statutory cancellation or rescission periods have expired, (iv) there are no contingencies other than a first mortgage financing contingency for which Borrower has confirmed to Bank that purchaser has made a mortgage application, (v) the closing date for the contract is within forty-five (45) days of the date of issuance of the Certificate of Occupancy for the Unit, and (vi) the gross sales price, after payment of all of Borrower's closing expenses thereunder, will result in sufficient proceeds to pay to Bank the Unit Release Price and Lot Release Price. If a purchaser has received preliminary loan approval from an institutional Bank, including income qualification and credit verification, the required deposit shall be five percent (5%) for said contract to constitute a Firm Contract. The purchaser's interest in the Mortgaged Property and under the Firm Contract must be expressly subordinated to the lien and operation of Bank's Mortgage, either by separate subordination agreement in favor of Bank or pursuant to the terms of the Firm Contract.
Sample 1

Examples of Firm Contract in a sentence

  • Firm Contract: A written State purchase order authorizing shipment will be furnished to the successful Contractor.

  • NOTE: Firm Contract: A written University Purchase Order mailed, or otherwise furnished, to the successful bidder within the time of acceptance specified in the Invitation for Bid results in a binding contract that requires the contractor to furnish the commodities or services as stated on the purchase order which will reference the original Invitation for Bid documents and number.

  • As further described in Exhibit D, if the Generating Facility elects to provide Firm Contract Capacity, then the Generating Facility must have a minimum Firm Contract Capacity performance requirement of 95% to earn the Maximum Firm Capacity Payment and a minimum Capacity Performance Requirement of 60% to earn any portion of the Maximum Firm Capacity Payment.

  • To the extent the Firm Contract Capacity set forth in Section 1.02(d) on the Effective Date and the Firm Contract Capacity demonstrated in accordance with Exhibit C are different, Section 1.02(d) will be adjusted to reflect the Firm Contract Capacity demonstrated in accordance with and subject to the limitations set forth in Exhibit C.

  • The Generating Facility shall be deemed to have satisfied the Six-Hour Demonstration if the Power Output in each and every Metering Interval during the six-hour period equals or exceeds the Firm Contract Capacity set forth in Section 1.02(d).

  • The Capacity Demonstration Factor is calculated as follows: CAPACITY DEMONSTRATION FACTOR = A / (B x C) Where A = The number of Capacity Measurement Intervals during the test period when the Demonstration Rate of Metered Energy equals or exceeds the Firm Contract Capacity specified in Section 1.02(d).

  • The results of the Capacity Demonstration Test set forth in this Exhibit C will be used (i) to verify and adjust as necessary the Firm Contract Capacity set forth in Section 1.02(d), and (ii) to determine the Reportable Capacity, as further described in Section 10 of Exhibit C.

  • The Firm Contract Capacity, the As-Available Contract Capacity and the Net Contract Capacity are subject to adjustment in accordance with Exhibit C.

  • In the special case of a less-than-one-day Maintenance Outage that directly follows another less-than-one-day Maintenance Outage, Benchmark Capacity of the outage that follows is defined as the highest Hourly Power Output, not to exceed Firm Contract Capacity, between these two outage time periods.

  • If the Generating Facility passes both the 20-Day Demonstration and the Six-Hour Demonstration, the Demonstrated Firm Contract Capacity shall be deemed to be equal to the Firm Contract Capacity in Section 1.02(d).


More Definitions of Firm Contract

Firm Contract means an arm's length, bona-fide binding contract for purchase and sale, in form and content satisfactory to Bank, for the sale of a Unit to a purchaser unaffiliated and unrelated to Borrower or Guarantor, under which (i) Borrower has received a cash deposit equal to ten percent (10%) of the purchase price except as herein after provided; (ii) Borrower is not obligated to provide any purchase-money financing, (iii) all applicable statutory cancellation or rescission periods have expired, (iv) there are no contingencies other than a first mortgage financing contingency for which Borrower has confirmed to Bank that purchaser has made a mortgage application and has received a mortgage commitment without contingencies, (v) the closing date for the contract is within forty-five (45) days of the date of issuance of the Certificate of occupancy for the Unit, and (vi) the gross sales price, after payment of all of Borrower's closing expenses thereunder, will result in sufficient proceeds to pay to Bank the Unit Release Price and Lot Release Price. The purchaser's interest in the Mortgaged Property and under the Firm Contract must be expressly subordinated to the lien and operation of Bank's Mortgage, either by separate subordination agreement in favor of Bank or pursuant to the terms of the Firm Contract.
Sample 1
Firm Contract means an arm’s length, bona-fide binding contract for purchase and sale, in form and content satisfactory to Bank, with no contingencies except a first mortgage financing contingency and/or other contingencies approved by Bank, for the sale of a Lot or a Unit to a purchaser unaffiliated and unrelated to Borrower or Guarantors.
Sample 1
Firm Contract means a contract of purchase and sale for a strata lot in the Development that is not subject to any condition precedent for the benefit of the purchaser.
Sample 1
Firm Contract is any contract, other than a Unit Contract, for the purchase of Installed Capability, Operable Capability, Energy, Operating Reserves, and/or AGC, pursuant to which the purchaser's right to receive such Installed Capability, Operable Capability, Energy, Operating Reserves, and/or AGC is subject only to the supplier's inability to make deliveries thereunder as the result of events beyond the supplier's reasonable control.
Sample 1

Related to Firm Contract

  • Firm Commitment has the meaning set forth in Section 4.2.

  • Firm Collateral means a Partner’s or Withdrawn Partner’s interest in one or more partnerships or limited liability companies, in either case affiliated with the Partnership, and certain other assets of such Partner or Withdrawn Partner, in each case that has been pledged or made available to the Trustee(s) to satisfy all or any portion of the Excess Holdback of such Partner or Withdrawn Partner as more fully described in the books and records of the Partnership; provided, that for all purposes hereof (and any other agreement (e.g., the Trust Agreement) that incorporates the meaning of the term “Firm Collateral” by reference), references to “Firm Collateral” shall include “Special Firm Collateral”, excluding references to “Firm Collateral” in Section 4.1(d)(v) and Section 4.1(d)(viii).

  • Underwritten Public Offering means an underwritten Public Offering, including any bought deal or block sale to a financial institution conducted as an underwritten Public Offering.

  • Public Offering means the sale in an underwritten public offering registered under the Securities Act of equity securities of the Company or a corporate successor to the Company.

  • Qualifying Public Offering means a firm commitment underwritten public offering of Stock for cash where the shares of Stock registered under the Securities Act are listed on a national securities exchange.

  • Initial Public Offering means an offering of securities registered under the Securities Act of 1933, the issuer of which, immediately before the registration, was not subject to the reporting requirements of sections 13 or 15(d) of the Securities Exchange Act of 1934.

  • firm capacity means Natural Gas transmission Capacity contractually guaranteed as uninterruptible by the TSO according to this Agreement.

  • Secondary Offering means an offering of securities of a publicly traded company that prior to the offering were not registered under the Securities Act of 1933, as amended.

  • Initial Public Offering” (“IPO means an offering of securities registered under the 1933 Act, the issuer of which, immediately before the registration, was not subject to the reporting requirements of Sections 13 or 15(d) of the 1934 Act.

  • Initial Public Offering Price The Underwritten Certificates will be offered to the public in negotiated transactions or otherwise at varying prices to be determined at the time of sale.

  • Initial Public Offering” or “IPO means an offering of securities registered under the Securities Act of 1933, the issuer of which, immediately before the registration, was not subject to the reporting requirements of Sections 13 or 15(d) of the Securities Exchange Act of 1934.

  • Offering shall have the meaning ascribed to such term in Section 2.1(c).

  • Primary Offering means the portion of an Offering other than the Shares offered pursuant to the Company’s distribution reinvestment plan.

  • Qualified Initial Public Offering means a public offering of the securities of Parent pursuant to an effective registration statement filed under the Securities Act, that is fully underwritten pursuant to a firm commitment contract and with respect to which the product of (a) the price to the public per share multiplied by (b) the aggregate number of offered shares will yield Net Offering Proceeds of at least $50,000,000.

  • Qualified Public Offering means the sale by the Company, in an ------------------------- underwritten public offering registered under the 1933 Act, of shares of the Company's Common Stock having an aggregate offering value of at least $10 million and where the per share price to the public multiplied by the number of shares of Common Stock issued under the Purchase Agreement and this and the other Executive Stock Agreements (adjusted for stock splits and other recapitalizations) is at least $30,000,000.

  • Periodic Offering means an offering of Securities of a series from time to time, the specific terms of which Securities, including, without limitation, the rate or rates of interest, if any, thereon, the stated maturity or maturities thereof and the redemption provisions, if any, with respect thereto, are to be determined by the Issuer or its agents upon the issuance of such Securities.

  • Marketed Underwritten Offering means any Underwritten Offering (including a Marketed Underwritten Shelf Take-Down, but, for the avoidance of doubt, not including any Shelf Take-Down that is not a Marketed Underwritten Shelf Take-Down) that involves a customary “road show” (including an “electronic road show”) or other substantial marketing effort by the Company and the underwriters over a period of at least 48 hours.

  • Shelf Underwritten Offering shall have the meaning given in subsection 2.1.3.

  • IPO Underwriter means each Person named as an underwriter in Schedule I to the IPO Underwriting Agreement who purchases Common Units pursuant thereto.

  • Public Offering Price means the price per Share of the Fund at which NLD or selected dealers or selected agents may sell Shares to the public or to those persons eligible to invest in Shares as described in the Prospectus of the Funds, determined in accordance with such Prospectus under the Securities Act relating to such Shares.

  • Rule 415 Offering means an offering on a delayed or continuous basis pursuant to Rule 415 (or any successor rule to similar effect) promulgated under the Securities Act.

  • Offerings means In-App Products, and any item or service made available through a RIME Store including, any RIM Product, Software, RIM Service, Third Party Item or Third Party Service made so available.

  • Firm price means the price that is only subject to adjustments in accordance with the actual increase or decrease resulting from the change, imposition, or abolition of customs or excise duty and any other duty, levy, or tax, which, in terms of the law or regulation, is binding on the contractor and demonstrably has an influence on the price of any supplies, or the rendering costs of any service, for the execution of the contract;

  • Underwritten Offering means a Registration in which securities of the Company are sold to an Underwriter in a firm commitment underwriting for distribution to the public.

  • Shelf Offering has the meaning set forth in Section 1(d)(i).

  • Secondary means that a Plan's benefits may be reduced and it may recover the Reasonable Cash Value of the services it provided from the Primary Plan. (The Order of Benefit Determination Rules below determine whether a Plan is Primary or Secondary to another Plan.)