CPUC Approval Delayed Clause Samples

The "CPUC Approval Delayed" clause defines the procedures and consequences if approval from the California Public Utilities Commission (CPUC) is not obtained within a specified timeframe. Typically, this clause outlines the steps parties must take if regulatory approval is delayed, such as extending deadlines, renegotiating terms, or allowing for termination of the agreement. Its core practical function is to allocate risk and provide a clear process for handling regulatory delays, ensuring that both parties understand their rights and obligations if CPUC approval is not received as planned.
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CPUC Approval Delayed. CPUC Approval must be obtained on or before one hundred eighty (180) days from the date on which Buyer files this Agreement with the CPUC seeking CPUC Approval (“Approval Condition Precedent”). If (a) CPUC Approval has not been obtained by this date, or (b) if the CPUC rejects this Agreement through a final and non-appealable order, then either Party may terminate this Agreement effective upon Notice to the other Party, unless the need for such CPUC Approval has been waived in writing by both Parties. Within ten (10) Business Days of such termination, Buyer shall return the Project Development Security to Seller. Following the return of the Project Development Security to Seller, neither Party shall have any obligation or liability to the other by reason of such termination.
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CPUC Approval Delayed. CPUC Approval must be obtained on or before one hundred eighty (180) days from the date on which Buyer files this Agreement with the CPUC seeking CPUC Approval (“CPUC Approval Condition Precedent”). If CPUC Approval has not been obtained by this date, then either Party may terminate this Agreement effective upon Notice to the other Party, unless the need for such CPUC Approval has been waived in writing by both Parties. Following the termination of this Agreement pursuant to this Section 1.3, neither Party shall have any obligation or liability to the other by reason of such termination.
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Related to CPUC Approval Delayed

  • HSR Approval All applicable waiting periods (and any extensions thereof) under the HSR Act in respect of the Transactions shall have expired or been terminated.

  • FCC Approval Notwithstanding anything to the contrary contained in this Agreement or in the other Loan Documents, neither the Administrative Agent nor any Lender will take any action pursuant to this Agreement or any of the other Loan Documents, which would constitute or result in a change in control of the Borrower or any of its Subsidiaries requiring the prior approval of the FCC without first obtaining such prior approval of the FCC. After the occurrence of an Event of Default, the Borrower shall take or cause to be taken any action which the Administrative Agent may reasonably request in order to obtain from the FCC such approval as may be necessary to enable the Administrative Agent to exercise and enjoy the full rights and benefits granted to the Administrative Agent, for the benefit of the Lenders by this Agreement or any of the other Loan Documents, including, at the Borrower’s cost and expense, the use of the Borrower’s best efforts to assist in obtaining such approval for any action or transaction contemplated by this Agreement or any of the other Loan Documents for which such approval is required by Law.

  • Approval/Non-Approval We will notify you whether your Application has been approved or denied within 14 days after the date we receive a completed Application. Notification may be in person or by mail or telephone unless you have requested that notification be by mail. You must not assume approval until you receive actual notice of approval. The 14-day time period may be changed only by separate written agreement.

  • NASDAQ Approval The Company shall have filed with Nasdaq a Notification Form: Listing of Additional Shares for the listing of the Shares.

  • Prior Approval Required Consultant shall not subcontract any portion of the work required by this Agreement, except as expressly stated herein, without prior written approval of City. Subcontracts, if any, shall contain a provision making them subject to all provisions stipulated in this Agreement.