System Ownership definition

System Ownership means the collective ownership of the respective AMI Midstream Assets by all Participating System Owners.
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System Ownership. The customer acknowledges that the electro protective system is owned or leased by by him and that all responsibility for maintenance, repair service, replacement or insurance of the system are the responsibility of the customer and not the company. The company has no responsibility for the condition or the functioning of the system.
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System Ownership. The District requires that the solar PV systems be owned by the awarded Proposer.
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Examples of System Ownership in a sentence

  • Depreciation with respect to System assets treated as purchased by the Partnership under Code §707(a)(2)(B) shall be allocated to the Parties in the ratio of their System Ownership Interests.

  • Where an approval or other agreement of the Parties or System Owners is expressly required under other sections of this Accounting Procedure and if the Agreement contains no contrary provisions in regard thereto, Operator shall notify all System Owners of the Operator’s proposal, and the agreement or approval of a Supermajority of the System Ownership (as defined in the Agreement).

  • As further described in paragraph 10.3 below, each System Owner owns an undivided interest equal to its System Ownership Interest as a tenant in common in all AMI Midstream Assets in the Systems listed in Exhibit “1.5”.

  • The Operator will collect and distribute the revenue generated and received from the operation of the Systems to the System Owners on a pro rata basis in proportion to each System Owner’s System Ownership Interest in the Systems on a monthly basis within sixty (60) calendar days after the end of the applicable month.

  • The Operator will be the title holder of record of all AMI Midstream Assets and the System Owners will be the beneficial owners of undivided interests in the AMI Midstream Assets equal to the System Ownership Interests.

  • The Parties intend that their respective capital accounts (immediately after giving effect to the events described in (i), (ii) and (iii) of this Section 1.2.2) shall be in the same proportions as their Default System Ownership Interests in the AMI Midstream Assets as defined in the Agreement.

  • If the System Owner that is the Operator (or has the power to appoint the Operator under this Agreement) does not participate in a System, then, notwithstanding anything to the contrary in this Agreement, the Operator of such System will be the Participating System Owner with the highest System Ownership Interest in such System, unless another Operator is selected by Supermajority Vote of such Participating System Owners.

  • The Operator will pay all Capital Expenditures and Operating Expenses and will allocate the same to the System Owners in proportion to their System Ownership Interests and pursuant to the terms set out in the Accounting Procedure.

  • This Agreement will be effective as of the dates set forth in the first paragraph of this Agreement and will continue in full force and effect with respect to AMI Midstream Assets constructed or acquired hereunder, and any expansions or extensions thereof, for as long as such assets remain operational unless earlier terminated by the vote of the System Owners owning ninety percent (90%) of the System Ownership.

  • The rights, interests and obligations of Operator as a party to any Gathering Agreements entered into hereunder will be owned and shared by the System Owners in proportion to their System Ownership Interests.

Related to System Ownership

  • System Operations means the Power Producer's operation; maintenance and repair of the System performed in accordance the requirement herein.

  • System Operator means the person who is the system operator under the Act;

  • multi-system operator or “MSO” means a cable operator who has been granted registration under rule 11 of the Cable Television Networks Rules, 1994 and who receives a programming service from a broadcaster and re-transmits the same or transmits his own programming service for simultaneous reception either by multiple subscribers directly or through one or more local cable operators;

  • System means the Public Employees Retirement System.

  • Transmission System Operator means a natural or legal person responsible for operating, ensuring the maintenance of and, if necessary, developing the transmission system in a given area and, where applicable, its interconnections with other systems, and for ensuring the long-term ability of the system to meet reasonable demands for the transmission of electricity;