Restoration Action definition
Restoration Action as defined in the Depositary Agreement.
Restoration Action means, with respect to any Affected Property, any action taken by or on behalf of Borrower to rebuild, repair, replace, redesign, alter or otherwise restore such Affected Property or any portion thereof, and all activities incidental and necessary for such matters, in order to permit repair and operation of the Project in accordance in all material respects with the Transaction Documents, including (if applicable) any redesign, alteration, retesting, re-commissioning and putting into service of the Affected Property, in each case, necessary to compensate for any failure of the Project to satisfy any performance guarantee under any Project Document.
Restoration Action has the meaning set forth in Section 5.13(c).
Examples of Restoration Action in a sentence
No Casualty Event, Event of Eminent Domain or Title Event shall have occurred and not been resolved or corrected pursuant to a completed Restoration Action to the extent that such Casualty Event, Event of Eminent Domain or Title Event could reasonably be expected to have an impact on the Project of more than $10,000,000 or prevent the Project from operating in all material respects in a safe and reliable manner or in accordance in all material respects with the requirements of the Project Documents.
More Definitions of Restoration Action
Restoration Action means steps undertaken to eliminate a significant view impairment of views, and may include, but is not limited to, removal or alteration and maintenance of vegetation at a designated maximum height by trimming, thinning or reducing the height or width of vegetation on a vegetation owner’s property or privately maintained vegetation in right of way.
Restoration Action means any specific steps taken affecting a tree (or trees) that would result in the restoration of a view or sunlight.
Restoration Action in respect of a Recovery Event related to FLNG2 Affected Property, any action taken or intended to be taken by or on behalf of the Borrower or any of the FLNG2 Subsidiaries to rebuild, repair, replace or otherwise restore such FLNG2 Affected Property or any portion thereof, and all activities incidental and reasonably necessary for such matters, including redesigning and altering to the extent necessary, in order to permit construction and operation of the Project. “Restoration Notice”: a written notice of the Borrower certifying that the Borrower or an FLNG2 Subsidiary intends to take certain Restoration Actions in connection with the related Recovery Event in respect of FLNG2 Affected Property and that, as of the date of delivery of such Restoration Notice, the Borrower reasonably believes sufficient funds are or will be available to it or the applicable FLNG2 Subsidiary such that such Restoration Action can be completed with funds available to it or the applicable FLNG2 Subsidiary. “Restoration Plan”: in respect of a Recovery Event related to FLNG2 Affected Property, a reasonably detailed plan describing the proposed plan, time schedule, contractual arrangements, and projected capital expenses for any action taken or intended to be taken by or on behalf of the Borrower or any FLNG2 Subsidiary to rebuild, repair, replace, or otherwise restore such FLNG2 Affected Property or any portion thereof, and all activities incidental and reasonably necessary for such matters, including redesigning and altering to the extent necessary, in order to permit construction and operation of the Project. “Restricted Debt Payments”: as defined in Section 6.1(a). “Restricted Investment”: an Investment other than a Permitted Investment. “Restricted Payments”: as defined in Section 6.1(a). “Restricted Subsidiary”: at any time, with respect to any Person, any direct or indirect Subsidiary of such Person (including any Foreign Subsidiary) that is not then an Unrestricted Subsidiary. Upon the occurrence of an Unrestricted Subsidiary ceasing to be an Unrestricted Subsidiary, such Subsidiary shall be a “Restricted Subsidiary”. Unless the context otherwise requires, any references to Restricted Subsidiary refer to a Restricted Subsidiary of the Borrower. “Return”: with respect to any Investment, any dividend, distribution, interest, fee, premium, return of capital, repayment of principal, income, profit (from a disposition or otherwise) and any other similar amount received or reali...
Restoration Action in respect of a Recovery Event related to FLNG2 Affected Property, any action taken or intended to be taken by or on behalf of the Borrower or any of the FLNG2 Subsidiaries to rebuild, repair, replace or otherwise restore such FLNG2 Affected Property or any portion thereof, and all activities incidental and reasonably necessary for such matters, including redesigning and altering to the extent necessary, in order to permit construction and operation of the Project.
Restoration Action means, with respect to any Affected Property, any action taken by or on behalf of Borrower or any other Obligor or Project Company to rebuild, repair, replace, redesign, alter or otherwise restore such Affected Property or any portion thereof, and all activities incidental and necessary for such matters, in order to permit repair and operation of any Funded Project in accordance in all material respects with the Operative Documents, including (if applicable) any redesign, alteration, retesting, re-commissioning and putting into service of the Affected Property, in each case, necessary to compensate for any failure of such Project to satisfy any performance guarantee under any Project Document.