Replacement Project Participant definition

Replacement Project Participant means, with respect to any Project Participant (other than any Borrower Affiliate Party), any Person satisfactory to the Required Lenders and having credit, or acceptable credit support, equal to or greater than that of the replaced Project Participant on the date that the applicable Project Document was entered into who, pursuant to a definitive agreement reasonably satisfactory to the Required Lenders, assumes the obligations of the replaced Project Participant on terms and conditions no less favorable to the relevant Borrower Affiliate Party than those applicable to the replaced Project Participant pursuant to the applicable Project Document.
Sample 1Sample 2
Replacement Project Participant means, with respect to any Project Participant (excluding any Consortium Member), any Person which (i) is satisfactory to the Required Lenders and having credit, or acceptable credit support, equal to or greater than that of the replaced Project Participant on the date that the applicable Project Document was entered into, or otherwise satisfactory to the Required Lenders, who, pursuant to a definitive agreement reasonably satisfactory to the Required Lenders, assumes the obligations of the replaced Project Participant on terms and conditions no less favorable to the Borrower than those applicable to the replaced Project Participant pursuant to the applicable Project Document or otherwise satisfactory to the Required Lenders and (ii) has been subject to any checks necessary in relation to such Person by any Financing Party under “know your customer” or similar requirements and such Financing Party is satisfied with the results of such checks.
Sample 1Sample 2
Replacement Project Participant means any Person assuming the obligations of a Project Participant under the applicable Project Document that is (a) at least as creditworthy as the replaced Project Participant (solely with respect to a Person that will replace (i) the Charterer and that is not directly or indirectly controlled by the Charterer, as such creditworthiness is determined by the Required Holders using their reasonable discretion, and (ii) the Manager and that is not directly or indirectly controlled by the Manager, as such creditworthiness is determined by a Ratings Affirmation (unless subclause (c)(ii) has been satisfied)), (b) at least as capable as the replaced Project Participant in discharging the obligations of such replaced Project Participant as set forth in the applicable Project Document, and (c) solely with respect to a Person that will replace the Manager, (i) a widely known and respected industry participant of international standing in its field having demonstrable experience in the operation of shuttle tankers, and (ii) unless subclause (a)(ii) has been satisfied, as consented to by the Required Holders (such consent not to be unreasonably withheld) (in the case of this clause (c) and each of the preceding clauses (a) (other than as described in clause (a)) and (b), as determined in good faith by the Company).
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More Definitions of Replacement Project Participant

Replacement Project Participant means, (a) in the case of any Project Participant other than an Immaterial Project Participant, with respect to such Project Participant, any Person reasonably satisfactory to the Required Lenders and having credit, or acceptable credit support, equal to or greater than that of the replaced Project Participant on the date that the applicable Project Document was entered into who, pursuant to a Replacement Project Document, assumes the obligations of the replaced Project Participant on terms and conditions no less favorable to the Borrower than those applicable to the replaced Project Participant pursuant to the applicable Project Document; and (b) in the case of any Immaterial Project Participant, any Person selected by the applicable Borrower.
Sample 1Sample 2
Replacement Project Participant means any Person assuming the obligations of a Project Participant under the applicable Project Document that (a) is at least as creditworthy as the replaced Project Participant, (b) is at least as capable as the replaced Project Participant in discharging the obligations of such replaced Project Participant as set forth in the applicable Project Document, (c) has international standing in its field and experience with projects of this type (in the case of this clause (c) and each of the preceding clauses (a) and (b), as determined in good faith by the Company), and (d) has been approved by the Required Holders, provided that no such consent shall be required in the event that the replacement entity is directly or indirectly controlled by Charterer or the Manager.
Sample 1
Replacement Project Participant means any Person that assumes the obligations of the replaced Project Participant under any Project Document on terms and conditions (taken as a whole) no less favorable to the relevant Guarantor than those applicable to the replaced Project Participant pursuant to the applicable Project Document; provided that (1) the Issuer or either Guarantor shall have delivered a certificate of an Authorized Officer of the Issuer to the Trustee stating that (i) such Person is at least as creditworthy (or has credit support from a Person at least as creditworthy) of the replaced Project Participant and (ii) is otherwise at least as capable of performing the obligations of the replaced Project Participant under the applicable Project Document as the replaced Project Participant under the applicable Project Document as the replaced Project Participant, in each case, on the date that the applicable Project Document was entered into, and (2) in respect of Petrobras or the Operating Company, such Person is approved in writing by Holders of at least 75% in aggregate principal amount of the Notes then outstanding; provided, however, that no consent of the Holders shall be required if (i) in respect of the Operating Company, such Person is an Affiliate of the Sponsor and (ii) in respect of Petrobras, (A) such Person is either (x) controlled directly or indirectly by Petrobras or (y) a member of any joint venture, consortium or similar association that is the concessionaire of the reserve in which the Drilling Rigs are operating pursuant to the Charter Agreements and Petrobras, or any other Person controlled directly or indirectly by Petrobras, is the operator of such reserve or (B) the relevant Guarantor obtains a Ratings Affirmation.
Sample 1
Replacement Project Participant means, with respect to any Minor Project Participant, any Person having credit, or acceptable credit support, and/or experience, as applicable, equal to or greater than that of the replaced Minor Project Participant on the date that the applicable Minor Project Document was entered into (as reasonably determined by Administrative Agent) who, pursuant to a definitive agreement, assumes the remaining obligations of the replaced Minor Project Participant under the applicable Minor Project Document on terms and conditions (taken as a whole) substantially similar to or more favorable to Borrower than those applicable to the replaced Minor Project Participant pursuant to the applicable Minor Project Document (as reasonably determined by Administrative Agent).
Sample 1
Replacement Project Participant means, with respect to any Project Participant, any Person satisfactory to the Administrative Agent and having credit, or acceptable credit support, equal to at least the lesser of (i) that of the replaced Project Participant on the date that the applicable Project Document was entered into, or (ii) “BBB–” by S&P and “Baa3” by Moody’s, that pursuant to a definitive agreement reasonably satisfactory to the Administrative Agent, assumes the obligations of the replaced Project Participant on terms and conditions no less favorable to the Borrower Entity than those applicable to the replaced Project Participant pursuant to the applicable Project Document.
Sample 1
Replacement Project Participant means, (i) solely with respect to an assignment by either of Tarsus or Manisa of all of its rights, title and interest in, to and under the Project Documents to which it is a party to QGOG in compliance with Section 5.25(a) and Section 5.25(c), QGOG or (ii) with respect to any Project Participant, any Person satisfactory to the Lenders and having credit, or acceptable credit support, equal to or greater than that of the replaced Project Participant on the date that the applicable Project Document was entered into who, pursuant to a definitive agreement reasonably satisfactory to the Required Lenders, assumes the obligations of the replaced Project Participant on terms and conditions no less favorable to the relevant Borrower than those applicable to the replaced Project Participant pursuant to the applicable Project Document.
Sample 1

Related to Replacement Project Participant

  • Project Participant means a member of the Project Team.

  • Project Participants means the entities and professionals assembled by the Applicant or Co-Applicants to own, develop and manage the project, including, but not limited to the Applicant or Co-Applicant, Project Sponsor, the Equity Investor, contractor, property manager and Consultant.

  • Direct Participant or "DTC Participant": Any broker-dealer, bank or other financial institution for which the Depository holds Class A Certificates from time to time as a securities depository.

  • Market Participant Energy Injection means transactions in the Day-ahead Energy Market and Real-time Energy Market, including but not limited to Day-ahead generation schedules, real- time generation output, Increment Offers, internal bilateral transactions and import transactions, as further described in the PJM Manuals.

  • Project Party means each Person (other than the Borrowers) who is a party to a Project Document.

  • Market Participant Energy Withdrawal means transactions in the Day-ahead Energy Market and Real-time Energy Market, including but not limited to Demand Bids, Decrement Bids, real-time load (net of Behind The Meter Generation expected to be operating, but not to be less than zero), internal bilateral transactions and Export Transactions, as further described in the PJM Manuals.

  • Market Participant means an entity that, for its own account, produces, transmits, sells, and/or purchases for its own consumption or resale capacity, energy, energy derivatives and ancillary services in the wholesale power markets. Market Participants include transmission service customers, power exchanges, Transmission Owners, load serving entities, loads, holders of energy derivatives, generators and other power suppliers and their designated agents.

  • Indirect Participant means a Person who holds a beneficial interest in a Global Note through a Participant.

  • Auction Participant or “Bidder” means a Person or Persons who submitted a bid as per the E- Auction Process Memorandum; and shall include a Qualified Bidder or the Successful Bidder and as the context requires;

  • Designated Participant means such employees or officers of the Company or a related entity of the Company as the Board may designate from time to time as eligible to participate in the Plan;

  • Economic Load Response Participant means a Member or Special Member that qualifies under Operating Agreement, Schedule 1, section 1.5A, and the parallel provisions of Tariff, Attachment K-Appendix, section 1.5A, to participate in the PJM Interchange Energy Market and/or Ancillary Services markets through reductions in demand.

  • Study Participant means a person recruited to participate in the Study.

  • Eligible Projects means projects as described in Schedule B.

  • Major Participant means each Equity Member and each member of the Proposer’s organization: (a) with primary responsibility for design; (b) with primary responsibility for construction; or (c) with a proposed subcontract with a value greater than or equal to 5% of the contract price or $20 million, whichever is greater.

  • CDS Participant means a participant in CDS that holds security entitlements in Units on behalf of beneficial owners of those Units;

  • Depositary Participant means a broker, dealer, bank, other financial institution or other Person for whom from time to time the Depositary effects book-entry transfers and pledges of securities deposited with the Depositary.

  • Eligible Project Costs means such portion of the Project costs disbursed and loaned from the OPWC to the Recipient for the sole and express purpose of acquiring, constructing, reconstructing, expanding, improving, engineering and equipping the Project, other direct expenses, and related financing costs thereto.

  • Non-U.S. Participant means any Participant that if it were a Lender would qualify as a Non-U.S. Lender.

  • Construction Party means a party to a Construction Service Agreement. “Construction Parties” shall mean all of the Parties to a Construction Service Agreement.

  • Eligible project means 1 or more of the following projects of a local unit that have been approved by the director and the state treasurer, including costs associated with a project necessary for issuance of evidences of indebtedness to finance the project:

  • Direct Participation means the total value of payments made to MBE or WBE firms for work that is completed in their Area of Specialty directly related to the performance of the subject matter of the contract.

  • Non-Participating Certified Nurse-Midwife means a Certified Nurse-Midwife who does not have a written agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan to provide services to you at the time services are rendered.

  • Specific contract participation goals means the goals as stipulated in the Preferential Procurement Regulations, 2001. In addition to above-mentioned goals, the Regulations [12. (1)] also make provision for organs of State to give particular consideration to procuring locally manufactured products.

  • Eligible Contract Participant means an “eligible contract participant” as defined in the CEA and regulations thereunder.

  • Potential Takedown Participant shall have the meaning set forth in Section 3.2.5(b).

  • Program participant means an individual certified by the secretary as a program participant under Iowa Code section 9E.3.