Proportionate Ownership definition
Examples of Proportionate Ownership in a sentence
Any such conveyance, entering into a Contract to Convey or Change in the Proportionate Ownership of Mortgagor shall constitute a default under the terms of this instrument.
In view of the expenses incurred and opportunities foregone by the Buyer in connection with the negotiation and execution of this Agreement, if this Agreement is terminated as permitted under Section 10.1(c)(i) due to the existence of circumstances that cause the closing condition in Section 6.1(e)(ii) to not be satisfied as specified therein, each Seller shall immediately pay to the Buyer a termination fee equal to such Seller's Proportionate Ownership of $20,000,000 in cash.
Any such conveyance, entering into a Contract to Convey or Change in the Proportionate Ownership of Grantor shall constitute a default under the terms of this instrument.
This maximum exposure amount shall apply to claims against Buyer or the Sellers, as the case may be, in the aggregate, with each Seller being responsible only for that portion of such total that is equal to its Proportionate Ownership.
Except as set forth on Schedule 4.7(b), each Seller owns a tenant-in-common interest in the NMP-2 Assets in a percentage equal to its Proportionate Ownership.
If it is later determined that the actual amount of the Utility Property Tax (determined without giving effect to the sale of the Acquired Assets to the Buyer) is greater than such estimated payments made by the Sellers, each Seller shall promptly pay to the Buyer its Proportionate Ownership of the amount of such deficit.
Buyer shall assume title to, and responsibility for the sum of all Sellers' Proportionate Ownership of the storage and disposal of the Spent Nuclear Fuel of NMP-2 as of the Closing Date.
Except as provided in the third sentence of this paragraph and Sections 2.1(b) and 2.3(g), between the date hereof and the Closing Date, and at all times thereafter, each Seller will remain liable for an amount equal to such Seller's Proportionate Ownership of all Spent Nuclear Fuel Fees and any other fees associated with electricity generated at NMP-2 and sold prior to the Closing Date, and Buyer shall have no liability or responsibility therefor.
Buyer shall pay and discharge an amount equal to the sum of all Sellers' Proportionate Ownership of all fees and expenses associated with the nuclear fuel consumed in NMP-2 and sold from and after the Closing Date, and Sellers shall have no liability or responsibility therefor.
With respect to any material violation or breach solely as to an individual Seller, Buyer may terminate this Agreement solely as to such Seller, unless the resulting Proportionate Ownership of the remaining Sellers is less than 50.1%, in which event Buyer may terminate this Agreement.