Unit 2 Ownership Interest definition

Unit 2 Ownership Interest has the meaning given to such term in the Unit 2 Ownership Agreement.
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Unit 2 Ownership Interest means, as of any date, the ownership interest in Unit 2 that Lessor holds, as of such date pursuant to Section 7.5 of the Facility Lease, as the same may be adjusted from time to time pursuant to Section 7.5 of the Facility Lease. For the avoidance of doubt, Lessor’s Unit 2 Ownership Interest shall be the entire ownership interest in Unit 2 unless and until Lessor has sold or transferred a portion of its Unit 2 Ownership Interest to one or more of the other Owners.
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Examples of Unit 2 Ownership Interest in a sentence

  • If MGE Power or WPPI owes an Incremental Charge, then it shall be equal to the product of (a) $116,147,942 and (b) the difference between (i) such Party’s Unit 2 Ownership Interest and (ii) its Unit 1 Ownership Interest or zero, if it does not have a Unit 1 Ownership Interest, less (c) any Incremental Charge previously paid by such Party.

  • If at any time during the Incremental Charge Period, MGE Power’s or WPPI’s Unit 2 Ownership Interest is greater than its Unit 1 Ownership Interest (including when it does not have a Unit 1 Ownership Interest), then such Party shall be obligated to pay an amount (an “Incremental Charge”) determined in accordance with Section 2 below to ERGS SC and the other Unit 1 Owner, if applicable, in accordance with Section 3 below.

  • Bell, 430 U.S. 787, 792 (1977) (Congress has power over admission of aliens).

  • Notwithstanding the foregoing, the Parties agree that (i) each of ERGS SC’s lease of its Unit 2 Ownership Interest to WEPCO pursuant to the ERGS SC Unit 2 Facility Lease and MGE Power’s lease of its Unit 2 Ownership Interest to MGE pursuant to the MGE Power Unit 2 Facility Lease and (ii) any Unit 2 Owner’s lease of its Xxxx 0 Ownership Interest to a Permitted Lessee shall not constitute a “Transfer” or a “Lien” for purposes of this Agreement.

  • On and after the Commercial Operation Date, each Unit 2 Owner shall own, subject to the terms and conditions of the Unit 2 O&M Agreement if then in effect, a pro rata share (based on its Unit 2 Ownership Interest) of the net capacity and energy obtainable from Unit 2.

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  • The Parties acknowledge and agree that monetary damages may not be an adequate remedy at law for the failure of a Party to perform certain material obligations under this Agreement (including the failure of a Party to sell or to acquire a Unit 2 Ownership Interest), and under such circumstances, a non-defaulting Party shall have the right to specific performance by the defaulting Party of such obligations under this Agreement.

  • This assumes that Assignor and Assignee have satisfied or waived all of the conditions to Transfer of the Transferred Unit 2 Ownership Interest in accordance with Article XIII of the Ownership Agreement.

  • Subject to Section 9.5, if applicable, all costs and expenses incurred by or on behalf of the Project Manager or the Reconstruction Agent pursuant to Sections 9.2(a)(i) and 9.2(a)(iii) shall be borne by each Unit 2 Owner in proportion to such Unit 2 Owner’s Unit 2 Ownership Interest.

  • Assignor hereby sells, assigns, conveys, transfers and delivers to Assignee, and Assignee hereby purchases and assumes from Assignor, all of the rights, benefits, obligations and liabilities that Assignor has in the Ownership Agreement in respect of the Transferred Unit 2 Ownership Interest.

Related to Unit 2 Ownership Interest

  • Applicable Ownership Interest means, with respect to the Treasury portfolio,

  • Beneficial Ownership Interest means the right to receive payments and notices with respect to the Bonds held in a Book Entry System.

  • Indirect Ownership Interest means an ownership interest in an entity that has an ownership interest in another entity. Indirect ownership interest includes an ownership interest in an entity that has an indirect ownership interest in another entity.

  • Ownership Interests means, with respect to any Person, all of the shares of Capital Stock of such Person and all debt securities of such Person that can be converted or exchanged for Capital Stock of such Person, whether voting or nonvoting, and whether or not such Capital Stock or debt securities are outstanding on any date of determination.

  • Partnership Interest means an ownership interest in the Partnership held by either a Limited Partner or the General Partner and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement.

  • Membership Interest means a Member’s entire interest in the Company including such Member’s right to receive allocations and distributions pursuant to this Agreement and the right to participate in the management of the business and affairs of the Company in accordance with this Agreement, including the right to vote on, consent to, or otherwise participate in any decision or action of or by the Members granted pursuant to this Agreement.

  • Controlling ownership interest means ownership of or entitlement to more than twenty-five percent of shares or capital or profits of the company;

  • Continuing ownership interest means ownership of or entitlement to more than twenty five per cent of shares or capital or profits of the company;

  • Membership Interests has the meaning set forth in the recitals.

  • Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.

  • Economic Interest means a Person’s right to share in the income, gains, losses, deductions, credits, or similar items of the Company, and to receive Distributions from the Company, but excluding any other rights of a Member, including the right to vote or to participate in management, or, except as may be provided in the Act, any right to information concerning the business and affairs of the Company.

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of such Act.

  • Partnership Interests shall have the meaning specified in Section 6.3 [Subsidiaries].

  • Ownership Interest As to any Certificate, any ownership or security interest in such Certificate, including any interest in such Certificate as the Holder thereof and any other interest therein, whether direct or indirect, legal or beneficial, as owner or as pledgee.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Derivative Partnership Interests means any options, rights, warrants, appreciation rights, tracking, profit and phantom interests and other derivative securities relating to, convertible into or exchangeable for Partnership Interests.

  • Class B Interests As set forth in the Trust Agreement.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • LLC Interest means a membership interest or similar interest in a limited liability company.

  • Deemed Partnership Interest Value means, as of any date with respect to any class of Partnership Interests, the Deemed Value of the Partnership Interests of such class multiplied by the applicable Partner's Percentage Interest of such class.

  • Membership Units means membership interests in the Company.

  • Percentage Interest As to any Certificate, the percentage interest evidenced thereby in distributions required to be made on the related Class, such percentage interest being set forth on the face thereof or equal to the percentage obtained by dividing the Denomination of such Certificate by the aggregate of the Denominations of all Certificates of the same Class.

  • Pledged Partnership Interests means all interests in any general partnership, limited partnership, limited liability partnership or other partnership including, without limitation, all partnership interests listed on Schedule 4.4(A) under the heading “Pledged Partnership Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such partnership interests and any interest of such Grantor on the books and records of such partnership or on the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such partnership interests.

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

  • Membership Unit means a Membership Common Unit, a Company Preferred Unit, a Company Junior Unit or any other fractional share of the Membership Interests that the Managing Member has authorized pursuant to Section 4.1 or Section 4.2 hereof.