Shutdown period definition

Shutdown period means the period of time commencing when a municipal waste combustor operator discontinues the feed of municipal solid waste to the combustor in order to cease operation.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Shutdown period means any fiscal quarter during the Term in which any facility or property owned, operated or managed by TRWH of any of its Subsidiaries (including the Facilities) the net income or loss of which is included in the calculation of Consolidated Net Income (any "Specified Property") is not permitted by applicable law, regulation or court order (including Gaming/Racing Laws), to be open in accordance with normal practice or to operate at full capacity due to COVID-19 for all or any portion of such fiscal quarter; provided, that with respect to any such Specified Property that is owned, operated or managed by TRWH of any of its Subsidiaries (including the Facilities), the Shutdown Period shall be deemed to terminate with respect to such Specified Property upon the first to occur of: (i) the first fiscal quarter following the fiscal quarter ending September 30, 2020 in which there are no such restrictions on the operation of such Specified Property and (ii) the first fiscal quarter for which the Consolidated EBITDA with respect to such Specified Property (with Consolidated EBITDA with respect to any Specified Property held by an Acquired Person determined as if references to TRWH and its Restricted Subsidiaries in Consolidated Net Income and other defined terms therein were to such Person and its Subsidiaries) is equal to or greater than the Consolidated EBITDA with respect to such Specified Property (and, with respect to any Specified Property owned by an Acquired Person, determined as if references to TRWH and its Restricted Subsidiaries in Consolidated Net Income and other defined terms therein were to such Person and its Subsidiaries) for the fiscal quarter ended December 31, 2019."

Shutdown period. This period is defined as the period during which there is no ice surface in the arena and during which the full summer program is not in operation.

Examples of Shutdown period in a sentence

• For any part of a Shutdown period for which an employee is not eligible or does not become eligible for vacation pay during the vacation year, and during which he has no work available, he will be deemed to be on temporary layoff for lack of work.

• Any regular working day falling in the Christmas-New Year Shutdown period shall be treated as a paid holiday for purposes of overtime or leave with pay.

• In either case, the extra day must be taken immediately before or after as an extension of the vacation, except when a holiday(s) falls within a Shutdown period in conformance with Section 8 of this Article.

• Employees in the following work areas may be required to work during the Christmas Shutdown period, i.e., Powerhouse, Maintenance, Receiving, and Repair Parts Shipping.

• With respect to other scheduled shutdown periods, employees entitled to vacation time in excess of two (2) weeks, may elect to take the time off without pay as though on temporary layoff for lack of work and take his remaining vacation time off at some earlier or later date including the week immediately preceding or following the Shutdown period.

• Employees eligible for more than two weeks of vacation bonus will receive two weeks vacation bonus on the second paycheck in January with all remaining vacation bonus to be paid out the last regular paycheck prior to the July Vacation Shutdown period.

• Should an emergency occur, or should an employee be required to work during the Christmas Shutdown period, such employees will work at their regular straight time rate of pay.

• In either case, the extra day must be taken immediately before or after as an extension of the vacation except when a holiday falls within a Shutdown period in conformance with Section 8 of this Article.

• For Employees eligible for only one or two weeks vacation, their total ▇▇▇▇- tion bonus will be paid out on the last regular pay- check prior to the July Vacation Shutdown period.

• All time limits to in and in Article shall be exclusive of Saturday, Sunday, Summer Shutdown period and holidays recognized in this Agreement.

More Definitions of Shutdown period

Shutdown period means the period (a) beginning on the date that the last cargo of crude oil is scheduled to be delivered (or is in fact delivered) to a Refinery in connection with the permanent idling of the initial crude unit thereof and (b) continuing until the later of (i) 21 days subsequent to such scheduled delivery (or actual delivery) and (ii) the permanent idling of all crude processing units at such Refinery.

Shutdown period means the period beginning on the Closing Date and ending on the earlier to occur of (i) the fourth anniversary of the Closing Date and (ii) the last day of the fourth calendar month following the payment or satisfaction and discharge in full of all Shutdown Costs.

Shutdown period means the period commencing on the Shutdown Date and ending on the date the Startup Conditions have been satisfied.