Replacement Rights definition

Replacement Rights has the meaning set forth in Section 2.09(a).

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Replacement Rights. Any teacher, who is qualified as defined in Section 2, Subd. 2, of this Article, placed on unrequested leave of absence, whether or not a member of the appropriate unit, may elect to displace the least senior teacher on the seniority list who is employed in a position for which both are certified by the MDE. To be considered as a certified teacher, a teacher must have filed a certification of license in the Office of Human Resources by March 1 preceding the year in which the unrequested leave is to take place.

Replacement Rights means the rights of NPI LTIP Participants to acquire Units (or after January 1, 2011, Common Shares) for no additional payment, on or after the Conversion Date.

Examples of Replacement Rights in a sentence

• Where Licensor takes action to replace Redundant Actuation Hardware installed on the Equipment subject to the Hardware Replacement Rights, Licensor will replace the Redundant Actuation Hardware at Licensor’s cost and expense, and at no additional cost to Licensee.

• At all times, the Material Project Documents shall be in full force and effect, save and except for any Material Project Document other than as it relates to any Material Project Document for which the Borrower is exercising its Replacement Rights.

• The Borrower is not in default under or in breach of any term or condition of any Material Project Document that would have, either individually or in the aggregate, a Material Adverse Effect, nor is the Borrower aware of any default under or breach of any term or condition of any Material Project Document by any other party thereto other than as it relates to any Material Project Document for which the Borrower is exercising its Replacement Rights.

• The Borrower has not sold, assigned, created a Lien over (other than Permitted Liens) or otherwise disposed of any Material Project Document or any right, title or interest therein, other than pursuant to the expiry of its term or in respect of any Material Project Document whereby the Borrower is exercising its Replacement Rights.

More Definitions of Replacement Rights

Replacement Rights means rights conferred by way of a deed of consent, crossing agreement, deed of variation or new deed of grant agreed between the parties acting reasonably in order to vary and/or replace existing easements, agreements, enactments and other such interests so as to secure land rights and interests as are necessary to carry out, maintain, operate and use the apparatus in a manner consistent with the terms of this Part of this Schedule;

Replacement Rights means, in respect of a Material Project Document which is terminated or rescinded following a default or breach of any term or condition thereof, the replacement of such Material Project Document by an Obligor (other than a Sponsor Group Member) with a legal, valid, binding and enforceable document which is equivalent in effect to such Material Project Document, in form and substance acceptable to the Administrative Agent (on the instruction of the Majority Lenders), within 30 days of such termination or rescission (provided such grace period only applies if the Borrower actively cooperates with the Administrative Agent to so replace such Material Project Document).

Replacement Rights means the rights of NPI LTIP Participants to acquire Common Shares for no additional payment, on or after January 16, 2012.