Examples of Remaining Owner in a sentence
The Remaining Owner receiving such a notice (“Final Remaining Owner”) shall then have the option of: o Taking no action with regard to Declining Remaining Owner’s notice, in which event each Remaining Owner will purchase its pro rata share of Departing Owner’s interest as otherwise provided; or o By written notice to all other owners, electing not to purchase the interests of either the Departing Owner or the Declining Remaining Owner.
If this option is selected, then Final Remaining Owner shall purchase all of the interests of the Departing Owner and Declining Remaining Owner in the Property.
In the event that a Remaining Owner (“Declining Remaining Owner”) would prefer to not purchase the pro rata share of the Departing Owner’s interest, it may, within sixty (60) days of determination of the sales price of Departing Owner’s interest, notify the other owners of this fact in writing.
In the absence of any such written agreement, these Remaining Owners shall share the Death Option in accordance with the percentage of the Interests of each Remaining Owner in the class of Interests as the Deceased Owner as of the date of commencement of the Death Options pursuant to Section 2.01(a) shall bear to the total percentage Interests of all Remaining Owners of the same class of Interests as the Deceased Owner as of the date of commencement of the Death Options who exercise the Death Option.
However, if less than all of the said Remaining Owners exercise the Death Option, then the Interests covered by the Death Option over which the Death Option is not exercised may be exercised in similar proportions by the said Remaining Owner(s) who purchase Interests pursuant to this Section 2.01(a), it being understood that only one (1) Remaining Owner may wind up exercising a Death Option for up to all of the Interests of the Deceased Owner and his Spouse.
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 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.
Remaining Owner contingency is estimated at $400K and CMR contingency at $477K.
If the Remaining Owner seeks to purchase and continue the operation of the RetiredTransmission 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 addition to the weapons carried by the Reaction Force, Sierra Rutile Security until recently also possessed a number of heavier weapons.