Closing of the Facility Sample Clauses

The 'Closing of the Facility' clause defines the conditions and procedures required to finalize the establishment of a financial facility, such as a loan or credit line. It typically outlines the necessary documentation, approvals, and actions that must be completed by both the lender and the borrower before funds are disbursed. For example, it may require the delivery of legal opinions, evidence of authority, or satisfaction of pre-closing covenants. This clause ensures that all parties meet their obligations and that the transaction is legally effective before any financial commitments are made, thereby reducing the risk of disputes or incomplete arrangements.
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Closing of the Facility. It is anticipated that a part of the Facility or the entire Facility will be temporarily unavailable from time to time while repairs or renovations take place. Management will make every effort to minimize any disruption to members during these periods, and if possible, to schedule any work during off-hours or summer months. The Facility may be closed for holi- days, and may be closed periodically for renovations. Owner may but shall not be obligated to offer members t he use of other conveniently located Facilities during the period of unavailability.
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Closing of the Facility. The Concessionaire shall remove all perishable food from the Facility within five (5) days after the established closing date of the Facility for the season. Upon termination of this Agreement, all non-fixture appliances, equipment, and non-perishable supplies belonging to the Concessionaire shall be removed from the Facility within a period not to exceed twenty (20) days from the date of termination. Failure on the part of the Concessionaire to comply with these requirements that results in the Town performing the action or hiring others to do so, will constitute an expense charged to the Concessionaire and payment for such expense is due from the Concessionaire to the Town within ten (10) days of the Town's invoicing of any such expense. Each September the Facilities Manager or the Facilities Manager's designee shall make an inspection of the Facility with the Concessionaire to assure that the Facility is thoroughly cleaned and all food materials and perishables removed. The Concessionaire shall provide for professional cleaning of the property of the Town located at the Facility including, without limitation, the ventilation hood, ductwork, and fan within thirty (30) days after the established closing date of the Facility for the season. Invoices from the professional cleaner must be furnished to the Facilities Manager upon the request of the Facilities
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Closing of the Facility. The closing of the transactions contemplated hereby (the “Closing”) shall be held in Newark, New Jersey, effective for all purposes as of the Effective Date, or at such other time and/or place as the parties may agree.
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Closing of the Facility. Buyer agrees that after the Closing if Buyer elects to terminate the Employees who are employed at the Facility, Buyer will provide any and all notices required by the Worker Adjustment and Retraining Notification Act, 29 U.S.C. ss. 2101 et. seq. and its applicable regulations, and its Massachusetts counterpart, Mass Gen. L. ch. 151 ss.71A et seq. Buyer further agrees that it will indemnify Seller and hold Seller harmless against any loss, expense, damage, claim, liability, obligation, judgment or injuries suffered or sustained by Seller by reason of any act, omission or alleged act or omission arising out of Buyer's obligations under this Section 5.2 (d)(vi), including without limitation, any judgment, award, settlement, attorneys' fees and other costs and expenses incurred in connection with the defense of any actual or threatened action, proceeding or claims, all costs of which shall be paid by Buyer as incurred.
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Related to Closing of the Facility

  • Conditions to Closing of the Company The Company’s obligation to sell the Securities at the Closing is subject to the fulfillment to its satisfaction on or prior to the Closing Date of each of the following conditions:

  • CONDITIONS TO CLOSING OF COMPANY The Company's obligation to sell and issue the Shares at the Closing is, at the option of the Company, subject to the fulfillment or waiver of the following conditions:

  • Extension of Closing Date (a) If Paragraph 8(b) is checked and Closing funds from Buyer’s lender(s) are not available on Closing Date due 55 to Consumer Financial Protection Bureau Closing Disclosure delivery requirements (“CFPB Requirements”), 56 then Closing Date shall be extended for such period necessary to satisfy CFPB Requirements, provided such 57 period shall not exceed 10 days. (b) If an event constituting “Force Majeure” causes services essential for Closing to be unavailable, including the 59 unavailability of utilities or issuance of hazard, wind, flood or homeowners’ insurance, Closing Date shall be 60 extended as provided in STANDARD G.

  • Closing Conditions of Closing and Borrowing 50 SECTION 6.1 Closing....................................................................... 50 SECTION 6.2 Conditions to Closing and Initial Extensions of Credit........................ 50 SECTION 6.3 Conditions to All Extensions of Credit........................................ 55

  • Conditions to Closing Date It shall be a condition to the Closing Date that each of the following conditions shall have been satisfied or waived as of such date, and upon such satisfaction or waiver, this Agreement shall be effective: (a) this Agreement shall have been duly executed and delivered by the parties hereto; (b) the VMTP Preferred Shares shall have a long-term issue credit rating of “Aa1” from Moody’s and long-term issue credit rating of “AA” from Fitch on the Closing Date; (c) receipt by the Purchaser of opinion(s) of counsel for the Fund acceptable to the Purchaser; (d) there shall have been delivered to the Purchaser such information and copies of documents, approvals (if any) and records certified, where appropriate, of trust and legal proceedings as the Purchaser may have requested relating to the Fund’s entering into and performing this Agreement and the other Related Documents to which it is a party, and the transactions contemplated hereby and thereby; (e) there shall have been delivered to the Fund such information and copies of documents, approvals (if any) and records certified, where appropriate, of trust and legal proceedings as the Fund may have requested relating to the Purchaser’s entering into and performing this Agreement and the other Related Documents to which it is a party, and the transactions contemplated hereby and thereby; (f) receipt by the Purchaser of executed originals or copies of all Related Documents (other than this Agreement) to which the Fund is a party, as in effect on the Closing Date, and an incumbency certificate with respect to the authorized signatories thereto; (g) receipt by the Fund of executed originals or copies of all Related Documents (other than this Agreement) to which the Purchaser is a party, as in effect on the Closing Date, and an incumbency certificate with respect to the authorized signatories thereto; (h) receipt by the Fund and the Purchaser of the Information Statement in form and substance satisfactory to the Fund and the Purchaser; (i) the reasonable fees and expenses and all other amounts (including reasonable attorneys’ fees and expenses related to the issuance of the VMTP Preferred Shares) payable on the Closing Date and pursuant to Section 2.03 hereof shall have been paid; (j) receipt by the Fund and the Purchaser of an opinion of counsel of the Redemption and Paying Agent in the form and substance satisfactory to the Fund and the Purchaser; (k) except as disclosed in the Information Statement or in Schedule II hereto, there shall not be any action, suit, proceeding or investigation pending or (to the knowledge of the Fund) overtly threatened in writing against the Fund in any court or before any governmental authority which in the good faith judgment of the party invoking this condition, (i) is in any way contesting or, if decided adversely, would affect the validity of any other Related Document to which the Fund is a party or this Agreement, or (ii) in which a final adverse decision would materially adversely affect provisions for or materially adversely affect the sources for payment of Liquidation Preference of or dividends on the VMTP Preferred Shares; (l) receipt by the Purchaser of copies of all ISDA documentation to which the Fund is a party including all trade confirmations and credit support annexes; (m) in the good faith judgment of the party invoking this condition no change in law, rule or regulation (or their interpretation or administration), in each case, shall have occurred after the date of this Agreement, which will materially and adversely affect the consummation of the transaction contemplated by this Agreement; and (n) there shall have been delivered to the Purchaser any additional documentation and financial information, including satisfactory responses to its due diligence inquiries, as it reasonably deems relevant. The Fund and the Purchaser agree that consummation of the purchase and sale of the VMTP Preferred Shares pursuant to this Agreement shall constitute acknowledgment that the foregoing conditions have been satisfied or waived.