Cessation of Operation of the Facility Sample Clauses

Cessation of Operation of the Facility. (a) If, after the Commercial Operations Date, without the prior written consent of the Purchaser, the Seller shall have ceased to operate the Facility for a period of thirty (30) consecutive Days other than because of: (i) a Force Majeure Event, (ii) a Scheduled Outage or a Maintenance Outage, (iii) a Forced Outage, (iv) a Non-Project Event, (v) an Afghanistan Political Event, or (vi) any act or omission of the Purchaser and/or the Grid System Operator that effectively prevents the Seller from operating the Facility, then the Purchaser shall be entitled to enter the Facility and operate it until the Seller demonstrates, to the reasonable satisfaction of the Purchaser, that the Seller can and will resume normal operation of the Facility. During any period that the Purchaser operates the Facility pursuant to this Section 5.10(a), the Purchaser shall (i) operate the Facility within the Technical Limits and in accordance with Prudent Utility Practices, and (ii) bear the costs of operation. (b) Notwithstanding any other provision of this Agreement to the contrary, the Purchaser shall indemnify, defend, and hold the Seller harmless from any loss or damage to the Facility incurred or sustained by the Seller by reason of the Purchaser’s negligence or wilful misconduct in the operation of the Facility during any period contemplated by Section 5, but only to the extent that such loss or damage is not covered by the Seller's insurance.
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Cessation of Operation of the Facility. (a) If after the relevant Commercial Operation Date, without the prior written consent of EVN, the BOT Company shall have ceased to operate the First Unit or the Facility, as the context requires, for a period of forty-eight (48) consecutive hours other than because of an Unforced Outage, a Forced Outage, a Maintenance Outage or a Scheduled Outage, then if the Lenders have not exercised their rights pursuant to the EVN Acknowledgment and Consent read in conjunction with the MOIT Acknowledgment and Consent, EVN shall have the right, but not the obligation, to operate the First Unit or the Facility, as the context requires, until the BOT Company demonstrates to the satisfaction of EVN that it can and will resume normal operation of the First Unit or the Facility, as the context requires, or until the Lenders exercise such rights. (b) During any period when EVN shall operate the First Unit or the Facility, as the context requires, EVN shall be entitled to: (i) be reimbursed for all costs associated with the operation of the First Unit or the Facility, as the context requires, including but not limited to costs for fuel, maintenance, any required Major Overhauls, repairs, insurance, salaries and other working capital costs; and (ii) reasonable remuneration for EVN’s services as an operator charged at then international rates or remuneration for comparable services. Any revenue generated by the Facility during EVN’s operation, after deducting the amounts set out in (i) and (ii) above, shall be applied towards the BOT Company’s debt service obligations under the Financing Documents.
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Related to Cessation of Operation of the Facility

  • Cessation of Operations Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

  • SUSPENSION OF OPERATIONS Concessionaire shall, at the direction of Department, immediately suspend, delay or interrupt Concessionaire’s operation of all or any part of the Concession Premises for such period of time as Department may determine to be appropriate to protect the Concession Premises and/or public health, safety, and welfare due to the occurrence of hazardous work conditions, emergency conditions, and/or any other cause including, but not limited to, Concessionaire's failure to perform any of the covenants, agreements, and conditions contained in this Agreement on its part to be performed. Concessionaire hereby waives any claim, and Department shall not be liable to any party claiming through Concessionaire, for damages, payment abatement, or compensation as a result of Department's actions under this Paragraph or this Agreement. Department's suspension of Concessionaire's operations shall be in addition to any other right or remedy available by law or in equity.

  • CONTINUITY OF OPERATION Section 1: No Strikes, Work Stoppages or Lockouts

  • CONTINUITY OF OPERATIONS Engage in any business activities substantially different than those in which Borrower is presently engaged, (2) cease operations, liquidate, merge, transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell Collateral out of the ordinary course of business, or (3) pay any dividends on Borrower's stock (other than dividends payable in its stock), provided, however that notwithstanding the foregoing, but only so long as no Event of Default has occurred and is continuing or would result from the payment of dividends, if Borrower is a "Subchapter S Corporation" (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of Borrower's stock, or purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • Commencement of Operations The Partnership shall not begin operations on its Leases unless the Managing General Partner is satisfied that necessary title requirements have been satisfied.