Major Material Contract definition

Major Material Contract means (i) any contract or agreement (other than any Loan Document) entered into in respect of a Sand Facility the breach, nonperformance, cancellation, or failure to renew could reasonably be expected to result in a material adverse effect with respect to such Sand Facility and (ii) any other contract or agreement the breach, nonperformance, cancellation, or failure to renew could reasonably be expected to result in a Material Adverse Effect; provided, however, that no such agreement that is permitted to be terminated by any party thereto (absent any breach by any party thereto) within 180 days of such date shall constitute a Major Material Contract during such 180-day period.
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Major Material Contract. EOD: an event or circumstance occurred with respect to a Major Material Contract which, after giving effect to the expiration of any applicable grace period or the giving of notice, or both, provided in such Major Material Contract, entitles any party thereto to terminate such Major Material Contract prior to its scheduled termination.
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Major Material Contract shall have the meaning assigned to that term in the Term Loan Agreement, as in effect on the date hereof.
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Examples of Major Material Contract in a sentence

  • Neither Borrower nor any other Loan Party is in default under any Major Material Contract to which it is a party or by which it is bound, and Bxxxxxxx knows of no ongoing dispute regarding any contract or lease of a Loan Party which could reasonably be expected to have a Material Adverse Effect.


More Definitions of Major Material Contract

Major Material Contract. (a) any contract or agreement (other than any Loan Document or Term Loan Document) entered into in respect of a Sand Facility pursuant to which any Obligor or any of Subsidiary of any Obligor pays, receives or incurs liabilities (or could reasonably be expected to pay, receive or incur liabilities during the term thereof) in excess of $25,000,000, and (b) any real property lease necessary for the operation of any Sand Facility to which any Obligor or any Subsidiary of any Obligor is the tenant, lessee, subtenant, licensee or other similar party thereunder for which breach, nonperformance, cancellation, or failure to renew would reasonably be expected to result in a Material Adverse Effect, together, in each case, with all amendments, modifications, replacements, extensions and rearrangements of the foregoing made in accordance with the terms of this Agreement.
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Major Material Contract means the following: (a) that certain Sand Purchase Agreement, dated and effective January 1, 2017, by and between Vista Sand and EOG Resources, Inc., (b) that certain Master Purchase Agreement, dated and effective November 3, 2011, between Halliburton Energy Services, Inc. and Vista Sand, as amended by that certain Railcar Policy and Release Agreement, dated and effective as of October 24, 2016, between Halliburton Energy Services, Inc. and Vista Sand, (c) that certain Sand Purchase Agreement, dated and effective August 1, 2016, by and between Vista Sand and Xxxxx Frac, LP, (d) that certain Sand Purchase Agreement, dated and effective February 1, 2017, by and between Vista Sand and Apache Corporation, (e) the Sand Hill Lease, (f) the Xxxxxxxx Prop 50 Lease, (g) the Xxxxx Lease (h) the Xxxxxxx Lease and (i) any other contract or agreement pursuant to which the Borrower or any of its Subsidiaries pays, receives or incurs liabilities (or could reasonably be expected to pay, receive or incur liabilities during the term thereof) in excess of $10,000,000 over the life of such contract or agreement and if breached could reasonably be expected to cause a Material Adverse Effect, together with all amendments, modifications, replacements, extensions and rearrangements of the foregoing made in accordance with the terms of this Agreement.
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Major Material Contract means the following: (a) that certain Sand Purchase Agreement, dated and effective January 1, 2017, by and between Vista Sand and EOG Resources, Inc., (b) that certain Sand Purchase Agreement, dated and effective August 1, 2016, by and between Vista Sand and Xxxxx Frac, LP, (c) that certain Sand Purchase Agreement, dated and effective February 1, 2017, by and between Vista Sand and Apache Corporation, (d) the Sand Hill Lease, (e) the Xxxxxxxx Prop 50 Lease, (f) the Xxxxx Lease (g) the Xxxxxxx Lease, (h) each contract or other agreement referenced on Schedule 7.23 under the heading “Major Material Contract”, (i) any other contract or agreement pursuant to which the Borrower or any of its Subsidiaries pays, receives or incurs liabilities (or could reasonably be expected to pay, receive or incur liabilities during the term thereof) in excess of $10,000,000 over the life of such contract or agreement and if breached could reasonably be expected to cause a Material Adverse Effect, together with all amendments, modifications, replacements, extensions and rearrangements of the foregoing made in accordance with the terms of this Agreement.
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Related to Major Material Contract

  • Company Material Contract has the meaning set forth in Section 3.15(a).

  • Parent Material Contract has the meaning set forth in Section 4.20(a).

  • Company Material Contracts has the meaning set forth in Section 3.18(a).

  • Material Contract means any contract or other arrangement (other than Loan Documents), whether written or oral, to which any Credit Party is a party as to which the breach, nonperformance, cancellation or failure to renew by any party thereto could reasonably be expected to have a Material Adverse Effect.

  • Material Contracts has the meaning set forth in Section 3.09(a).

  • Material Agreement means any material contract, commitment, agreement (written or oral), instrument, lease or other document, license agreement and agreements relating to intellectual property, to which the Corporation or any Subsidiary are a party or to which any of their property or assets are otherwise bound;

  • Company IP Contract means any Contract to which the Company is a party or by which the Company is bound, that contains any assignment or license of, or covenant not to assert or enforce, any Intellectual Property Right or that otherwise relates to any Company IP or any Intellectual Property developed by, with, or for the Company.

  • Material Project Documents means, collectively, the Power Purchase Agreement, the EPC Contract, the Transmission Facilities Construction Agreement, the O&M Agreement, the Coal Supply Agreements, the Coal Transportation Agreement and all other instruments, agreements or other documents arising from or related to the Project, but shall not include any Financing Agreement.

  • Material IP means any Intellectual Property that is material to the conduct of the business of the Borrower and its Restricted Subsidiaries, taken as a whole.

  • IP License Agreement shall have the meaning set forth in Section 1.2.

  • CREFC® Intellectual Property Royalty License Fee Rate With respect to each Mortgage Loan, a rate equal to 0.0005% per annum.

  • CREFC® Intellectual Property Royalty License Fee With respect to each Mortgage Loan (including any REO Mortgage Loan) and for any Distribution Date, the amount accrued during the related Interest Accrual Period at the CREFC® Intellectual Property Royalty License Fee Rate on, in the case of the initial Distribution Date, the Cut-Off Date Balance of such Mortgage Loan and, in the case of any subsequent Distribution Date, the Stated Principal Balance of such Mortgage Loan as of the close of business on the Distribution Date in the related Interest Accrual Period; provided that such amounts shall be computed for the same period and on the same interest accrual basis respecting which any related interest payment due or deemed due on the related Mortgage Loan is computed and shall be prorated for partial periods. For the avoidance of doubt, the CREFC® Intellectual Property Royalty License Fee shall be payable from the Lower-Tier REMIC.

  • Assigned Contract has the meaning set forth in Section 2.2.

  • Patent License Agreement means the Patent License Agreement substantially in the form of Exhibit C.

  • Seller Intellectual Property means the Seller Owned Intellectual Property and the Seller Licensed Intellectual Property.

  • Material Intellectual Property means any intellectual property owned by any Loan Party that is, in the good faith determination of the Borrower, material to the operation of the business of the Borrower and its Restricted Subsidiaries, taken as a whole.

  • Material Compliance Matter has the same meaning as the term defined in Rule 38a-1, and includes any compliance matter that involves: (1) a violation of the federal securities laws by Distributor (or its officers, directors, employees, or agents); (2) a violation of Distributor's Rule 38a-1 policies and procedures; or (3) a weakness in the design or implementation of Distributor's Rule 38a-1 policies and procedures.

  • Company Licensed Intellectual Property means Intellectual Property Rights owned by any Person (other than a Group Company) that is licensed to any Group Company.

  • Intellectual Property Agreement means the agreement in substantially the form set forth as Exhibit B.

  • Third Party Licenses means licenses from third parties governing third party software embedded or used in the trading platform.