Remaining Owner definition

Remaining Owner has the meaning given to such term in Section 9.03.
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Examples of Remaining Owner in a sentence

  • In order to exercise its option to purchase all of the Ownership Interest (and Capacity Share) of the other Owner in the Transmission Facilities, the Remaining Owner must give written notice thereof to the other Owner within ninety (90) days of receipt of the other Owner’s Decommissioning Notice.

  • The Owners shall enter into such documentation as the Remaining Owner shall reasonably request to document the purchase and sale of the Ownership Interest (and Capacity Share) of the other Owner, provided that the purchase price of the Ownership Interest (and Capacity Share) of the other Owner shall be equal to the other Owner’s pro rata share (based on its Ownership Interest) of the depreciated cost of the applicable Transmission Facilities.

  • If the Remaining Owner seeks to purchase and continue the operation of the Transmission Facilities, then, at the Remaining Owner’s request and expense, the other Owner and the Operator (if the Remaining Owner is not the Operator) will, for a reasonable period of time, cooperate with and use Commercially Reasonable Efforts to assist the Remaining Owner in the continued operation of the Transmission Facilities.

  • If the other Owner desires to continue the operation of the Transmission Facilities (the “Remaining Owner”), then the Remaining Owner shall have the option to purchase all of the Ownership Interest (and Capacity Share) of the other Owner in the Transmission Facilities.

  • If the Remaining Owner seeks to purchase and continue the operation of the Retired Transmission Facilities, then, at the Remaining Owner’s request and expense, the other Owner and the responsible Operator (if the Remaining Owner is not the responsible Operator) will, for a reasonable period of time, cooperate with and use Commercially Reasonable Efforts to assist the Remaining Owner in the continued operation of the Retired Transmission Facilities.

  • In order to exercise its option to purchase all of the Ownership Interest(s) (and associated Directional Capacity Allocation Percentage(s) and Directional Capacity Allocation(s)) of the other Owner in such Retired Transmission Facilities, the Remaining Owner must give written notice thereof to the other Owner within ninety (90) days of receipt of the other Owner’s Decommissioning Notice.

  • If more than one Remaining Owner exercises the Right of First Refusal, each Remaining Owner exercising the Right of First Refusal (“Remaining Owner Transferee”) shall be entitled to consummate the Transfer of such portion of the Interest or control as is equal to the Selling Owner’s Pro Rata Share multiplied by a fraction, the numerator of which is the Pro Rata Share of such Remaining Owner Transferee, and denominator of which is the sum of the Pro Rata Shares of all of the Remaining Owner Transferees.

  • If the other Owner desires to continue the operation of such Retired Transmission Facilities (the “Remaining Owner”), then the Remaining Owner shall have the option to purchase all of the Ownership Interest(s) (and associated Directional Capacity Allocation Percentage(s) and Directional Capacity Allocation(s)), if any, of the other Owner in such Retired Transmission Facilities.

  • Notwithstanding the generality of the foregoing sentence, Remaining Owner shall take all actions and sign all documents required to retain any licenses, keep them in good standing and change the ownership of such licenses.

  • If any Remaining Owner fails to give timely notice or declines to purchase its proportionate interest, the other Remaining Owners shall have the option to purchase that Remaining Owner’s proportionate interest of the Offered Interests, in proportion to their respective ownership interests of the outstanding Interests.