Examples of Relinquishment Notice in a sentence
If Owner desires to relinquish or abandon all or any of the Properties, Owner shall deliver a written notice (the "Relinquishment Notice") to Royalty Holder of its intention to relinquish or abandon such Properties.
If Owner delivers a Relinquishment Notice to Royalty Holder as set forth in Section 29(a) with respect to less than all of the Properties, Royalty Holder shall only have the right to demand that Owner cause the Transfer to occur only with respect to the Properties proposed to be relinquished or abandoned and the Owner shall have no further obligations in respect of relinquished Properties.
Within 30 days after delivery of the Relinquishment Notice, Royalty Owner shall either consent to such relinquishment or abandonment or make an election as set forth in Section 29(b).
The Relinquishment Notice shall identify the quantity of Effluent the Palo Verde Participants desire to relinquish (the “Relinquished Quantity”) and the date on which the relinquishment shall become effective (the “Relinquishment Date”).
Within 90 days after the date of the Relinquishment Notice, the Owners shall by vote of the Required Majority of the Owners designate another party to serve as Approving Agent.
Upon the Relinquishment Date, the Relinquished Quantity shall be deducted from the Committed Quantity in effect as of the date of the Relinquishment Notice, and the difference shall become the new Committed Quantity under this Agreement unless and until later modified pursuant to this Section 3.4.1.
Unless otherwise agreed to in writing by the SROG Cities, as of the date of the Relinquishment Notice, neither the Relinquished Quantity nor Relinquishment Date may be subsequently modified by the Palo Verde Participants, nor may the Palo Verde Participants rescind the relinquishment described in the Relinquishment Notice.
On the date when LEDCO has sold Parcels which constitute 80 percent of the Net Square Feet to parties which are not affiliated with LEDCO, or at any time, from time to time, after such date, LEDCO may, at LEDCO's sole option, relinquish LEDCO's obligations and responsibilities as Approving Agent by giving written notice thereof to the Owners (the "Relinquishment Notice").
Such Relinquishment Notice shall be in writing or provided electronically pursuant to Section 9.B and in the form set out in the Tariff and shall be executed by an authorized representative of the Relinquishing Shipper.
Upon expiry of a 90-day period after receipt of the Relinquishment Notice, Owner’s obligations hereunder in respect of such abandoned interest shall terminate and thereafter the term “Properties” will apply to those Properties which have not been Abandoned by Owner.