Conditions to Expansion Sample Clauses

Conditions to Expansion. The Company and any of its Restricted Subsidiaries may exercise their foregoing rights in relation to an Expansion if the following conditions are satisfied and the Company shall have delivered to the Trustee a certificate from an Authorized Officer of the Company certifying that such conditions have been satisfied: (1) the Company has provided to the Trustee a funding plan covering the full amount of costs in respect thereof in order to achieve substantial completion of each Train, as applicable, forming part of such Expansion, a budget and construction schedule of the Expansion, with an appropriate contingency and identifying the source of funds to cover such costs (being permitted Expansion Senior Debt, additional funding (including contributions in the form of Subordinated Debt or Equity Funding) from the Sponsor under an equity commitment agreement (“Expansion Equity Funding Commitment”) and/or Development-generated funds that are projected by the Company to be freely available for Restricted Payments as set forth in sub-clause (6)(C) below); (2) the Company shall have delivered to the Trustee a certificate from an Authorized Officer of the Company certifying that no Material Adverse Effect will occur, or would reasonably be expected to occur, as a result of the implementation of such proposed Expansion (including, without limitation, the construction, ownership or operation thereof), as the case may be; (3) the Independent Engineer shall have certified to the Trustee that it has reviewed and concurs with the Company’s cost estimate under clause (1) above and the Company’s certification in clause (2) above; (4) the Company shall have delivered to the Trustee a certificate from an Authorized Officer of the Company certifying that: (A) all material Permits from a Governmental Authority required in respect of the implementation of such proposed Expansion (excluding any FERC order or Export Authorizations which are addressed in sub-clauses (B) and (C) below) have been obtained or the Company shall have delivered to the Trustee a certificate from an Authorized Officer of the Company certifying that it reasonably expects such material consents can be obtained by the Obligors when necessary without material expense or delay to construction of the Expansion; (B) a FERC order with respect to the Expansion: (i) has been obtained (ii) is in full force and effect, and (iii) is free from conditions and requirements (y) the compliance with which could reasonably be...
View SourceView Similar (7)
Conditions to Expansion. The Expansion Notice shall be effective only if at the time of delivery of Tenant's notice with respect thereto the following conditions (the "Expansion Conditions") shall be satisfied: a. Tenant is not in Default beyond the expiration of any cure period contained in this Lease; b. Neither this Lease nor Tenant's right of possession shall have been terminated and this Lease shall then be in full force and effect; and c. The option hereunder may not be exercised by or for the benefit of any assignee or sublessee, unless such assignee or sublessee is an Affiliated Entity (as defined in Section 15.7 above) or a single entity which leases or subleases at least ninety percent (90%) of the Premises then demised hereby.
View Source
Conditions to Expansion. Tenant’s expansion into the ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ Building is contingent upon the termination of the Cellegy Lease and of the VaxGen Sublease. Tenant shall cooperate with Landlord to expedite the termination of the VaxGen Sublease and affirms that Tenant shall consent to the termination of the Cellegy Lease and the VaxGen Sublease and shall execute any and all documents necessary to effectuate such lease terminations.
View Source
Conditions to Expansion. Each of the First Expansion Notice, Second Expansion Notice, Third Expansion Notice, the Fourth Expansion Notice and Fifth Expansion Notice shall be effective only if at the time of delivery of Tenant’s notice with respect thereto, the following conditions (the “Expansion Conditions”) shall be satisfied: (1) There exists no monetary or material non-monetary Default, unless Tenant is disputing the existence of any such Default, in which case, this Expansion Condition shall be deemed to have been satisfied, unless and until Landlord subsequently prevails in such dispute; (2) Neither this Lease nor Tenant’s right of possession shall have been terminated and this Lease shall then be in full force and effect; and (3) Tenant shall not have subleased more than twenty-five percent (25%) of the Rentable Area of the Premises for all or substantially all of the remaining Term, excluding, however, subleases pursuant to one or more Exempt Transfers; except, that the foregoing Expansion Condition shall not limit or impair (x) the right of Tenant to sublease to a Major Transferee and assign or delegate any options set forth in this Article 35 (including, without limitation Expansion Options) in connection therewith, or (y) the right of any Major Transferee to exercise any options set forth in this Article 35 (including Expansion Options) theretofore assigned or delegated to it pursuant to Paragraph 35(H); and (4) With respect to the Fifth Expansion Option, Tenant shall not have exercised both Pre-Occupancy Contraction Options.
View Source

Related to Conditions to Expansion

  • Conditions to Loan Section 3.1 Conditions to Funding of the Loan on the Closing Date......................................... 33

  • CONDITIONS TO GRANT TO HAVE AND TO HOLD the above granted and described Property unto and to the use and benefit of Lender, and the successors and assigns of Lender, forever; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, these presents and the estate hereby granted shall cease, terminate and be void.

  • Conditions to Loans The obligations of Lenders to make Loans are subject to satisfaction of all of the applicable conditions set forth below.

  • Conditions for Advance and Conditions to Closing Section 7.1.

  • CONDITIONS TO PURCHASE (a) Meritage’s obligation to purchase the Shares following the execution of this Agreement is subject to the following conditions precedent: (i) The transactions contemplated hereby shall have been approved by the Board of Directors of Meritage, including a majority of all disinterested directors, at a meeting of the Board of Directors duly called and held; (ii) Meritage shall have received, within seven days of the date hereof, a written opinion as to the fairness of the purchase of the Shares to Meritage from a financial point of view, which opinion shall have been issued by an accounting, appraisal or investment banking firm of nationally recognized standing that is, in the reasonable judgment of Meritage’s Board of Directors, qualified to perform such task and disinterested and independent with respect to Meritage (the “Independent Bank”); provided, that Meritage shall inform ▇▇▇▇▇▇ promptly, and in any event within two days, of its receipt of such opinion from the Independent Bank or of confirmation from the Independent Bank that the Independent Bank will not issue such an opinion; and (iii) The representations and warranties of ▇▇▇▇▇▇ made herein shall be true and correct in all respects and ▇▇▇▇▇▇ shall be in compliance with all covenants and other terms of this Agreement and Sections 8 and 9 of the Employment Agreement. (b) ▇▇▇▇▇▇’▇ obligation to sell the Shares following the execution of this Agreement is subject to the following conditions precedent: (i) The transactions contemplated hereby shall have been approved by the Board of Directors of Meritage, including a majority of all disinterested directors, at a meeting of the Board of Directors duly called and held; (ii) Meritage shall have received within seven days of the date hereof, a written opinion as to the fairness of the purchase of the Shares to Meritage from a financial point of view issued by the Independent Bank; and (iii) The representations and warranties of Meritage made herein shall be true and correct in all respects and Meritage shall be in compliance with all covenants and other terms of this Agreement and Section 7 of the Employment Agreement.