Expansion of the Facility Sample Clauses

The 'Expansion of the Facility' clause defines the terms under which the total amount available under a loan or credit facility can be increased. Typically, this clause outlines the process for requesting an increase, any limits on the maximum expansion, and the conditions that must be met, such as lender consent or additional documentation. Its core practical function is to provide flexibility for the borrower to access additional funds if needed, while ensuring that the expansion is managed in a controlled and agreed-upon manner.
Expansion of the Facility. Seller, or any Affiliates thereof, shall not enter into any contract for the sale of solar energy or Electrical Products from any addition to or expansion of the Facility, until and unless (i) Seller shall have first offered in writing (in the form of a proposal contract) to enter into a contract with Georgia Power on business terms substantially the same, or more favorable to Georgia Power, as those specified in a) any proposal or letter of intent between Seller and any other party with respect thereto or b) this Agreement, and (ii) Georgia Power does not accept such offer within sixty (60) Days of the date presented to Georgia Power in writing (or such shorter period of time as is appropriate to the term and type of sale contemplated by ▇▇▇▇▇▇) and including a notice to Seller that Georgia Power is ready and willing to enter into a contract reflecting such business terms within ninety (90) Days thereafter (or such shorter period of time as is appropriate to the term and type of sale contemplated by ▇▇▇▇▇▇). For the avoidance of doubt, nothing in this Section 7.5 shall be construed to abrogate the obligation to sell and purchase renewable energy pursuant to PURPA.
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Expansion of the Facility. The Facility shall have a maximum initial waste processing capacity to: (i) process waste produced by up to 720,000 Layers on a daily basis, and (ii) supply electricity up to 0.8 megawatt per hour on a daily basis. CAPL undertakes to increase the amount of waste supplied by the Farm to beyond 720,000 Layers (but not exceeding 1,500,000 Layers) (the “Expansion”) on a daily basis within five years from the date of the Agreement. The Expansion will be subject to further negotiations between the Parties and further announcements will be made by the Company, where necessary.
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Expansion of the Facility. The Parties agree that expansion of the Facility is solely ▇▇▇▇▇’▇ responsibility. ▇▇▇▇▇ will cause the expansion of the Facility on the Site to be carried out in accordance with all applicable State and local laws and regulations, and completed to Beneficial Occupancy. The Facility will not encroach upon nor overhang upon any easement or right of way. The Facility will be located wholly within any applicable building restriction lines, however established, and will not violate restrictions contained in prior conveyances or applicable protective covenants or restrictions.
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Expansion of the Facility. 11.1. The Buyer hereby undertakes to the Seller that if, at any time during the Term, it decides to seek any additional supply of captive energy to the Buyer, or receives a bona fide offer or proposal from a third party to supply captive energy to the Buyer, then the Buyer shall first afford the Seller the opportunity to make a proposal for such supply to the Buyer, and the opportunity to investigate the possible expansion of the Facility, for such purpose. 11.2. Prior to the date of this Agreement, the Buyer sought interest from the Seller regarding the development of Phase 2 of the Facility. The Seller indicated that tariffs for Phase 2 of $0.0939/kWh (for a 5MWp increase) and $0.0828/kWh (for a 10MWp increase) may be achievable. In relation to the Buyer’s request for an expansion and the Seller’s presented options, it is understood and acknowledged by the Parties that: 11.2.1. the Buyer is entering into this Agreement on the expectation that any binding offer provided by the Seller for Phase 2 of the Facility will not differ materially from the size and tariff options provided above; and 11.2.2. the Buyer’s request for Phase 2 and the Seller’s presented options were not binding; and 11.2.3. the Seller will exercise its best endeavours to deliver a binding offer that closely reflects the options presented, but that any potential Phase 2 and the corresponding tariff is subject to additional diligence, modelling and costing and any solution would vary depending on the forecast growth in energy demand and the timing of the Buyer’s request. 11.3. The Seller shall be afforded not less than 3 (three) months to prepare and submit to the Buyer a proposal for how any expansion of the Facility could be developed and implemented for the benefit of the Buyer. 11.4. In the event that the Buyer and the Seller agree to expand the Facility they will, to the extent necessary, negotiate in good faith any amendments necessary to this Agreement to cater for the arrangements required for the expansion of the Facility and the supply of additional captive energy to the Buyer, including the applicable tariff. 11.5. The Seller shall not undertake any material alteration, modification or upgrade to the Facility which would impact the Buyer’s obligations under this Agreement without the prior written consent of the Buyer, which consent shall not be unreasonably withheld or delayed.
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Expansion of the Facility. The Joint Project Agreement contemplates that the Company and PG&E, either jointly or separately, may expand the Facility (subject to applicable regulatory requirements) beyond the current capacity of 20 Bcf through the development of another discrete formation of the storage field (the “Expansion Facility”). The overall ownership interest of each of ▇▇▇▇ Ranch and PG&E in the Facility and the Expansion Facility may be adjusted based on the revised allocation of the aggregate working capacity of the Facility and the Expansion Facility upon the commercial operation of the Expansion Facility. The Company’s 75% interest in the 20 Bcf of the storage capacity of the Facility and the associated costs and revenues shall not be affected, unless the total storage capacity of the Facility is expanded, in which case its interest will be increased or diluted based on whether the Company elects to participate in the Expansion Facility and only if additional capacity is added. Based upon the foregoing, the Purchasers agree that, in the event an Expansion Facility is commenced, the Company may provide for the execution of a common facilities agreement or other similar arrangement with an affiliate seeking to develop the Expansion Facility; provided that any Indebtedness incurred in connection with the development of the Expansion Facility shall be subject to the requirements of Sections 9.11, 10.1 and 10.3 hereof.
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Related to Expansion of the Facility

  • CONDITIONS OF INITIAL EXTENSION OF CREDIT The obligation of Bank to extend any credit contemplated by this Agreement is subject to the fulfillment to Bank's satisfaction of all of the following conditions:

  • Modification of the Small Generating Facility The Interconnection Customer must receive written authorization from the NYISO and Connecting Transmission Owner before making any change to the Small Generating Facility that may have a material impact on the safety or reliability of the New York State Transmission System or the Distribution System. Such authorization shall not be unreasonably withheld. Modifications shall be done in accordance with Good Utility Practice. If the Interconnection Customer makes such modification without the prior written authorization of the NYISO and Connecting Transmission Owner, the Connecting Transmission Owner shall have the right to temporarily disconnect the Small Generating Facility. If disconnected, the Small Generating Facility will not be reconnected until the unauthorized modifications are authorized or removed.

  • Condition of the Leased Property Lessee acknowledges receipt and delivery of possession of the Leased Property. Lessee has examined and otherwise has knowledge of the condition of the Leased Property and has found the same to be satisfactory for its purposes hereunder. Lessee is leasing the Leased Property “as is” in its present condition. Lessee waives any claim or action against Lessor in respect of the condition of the Leased Property. LESSOR MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED, IN RESPECT OF THE LEASED PROPERTY, OR ANY PART THEREOF, EITHER AS TO ITS FITNESS FOR USE, DESIGN OR CONDITION FOR ANY PARTICULAR USE OR PURPOSE OR OTHERWISE, AS TO THE QUALITY OF THE MATERIAL OR WORKMANSHIP THEREIN, LATENT OR PATENT, IT BEING AGREED THAT ALL SUCH RISKS ARE TO BE BORNE BY LESSEE. LESSEE ACKNOWLEDGES THAT THE LEASED PROPERTY HAS BEEN INSPECTED BY LESSEE AND IS SATISFACTORY TO IT. Provided, however, to the extent permitted by law, Lessor hereby assigns to Lessee all of Lessor’s rights to proceed against any predecessor in title (other than any Affiliate of Lessee, which conveyed the Property to Lessor) for breaches of warranties or representations or for latent defects in the Leased Property. Lessor shall fully cooperate with Lessee in the prosecution of any such claim, in Lessor’s or Lessee’s name, all at Lessee’s sole cost and expense. Lessee hereby agrees to indemnify, defend and hold harmless Lessor from and against any claims, obligations and liabilities against or incurred by Lessor in connection with such cooperation.

  • CONDITIONS OF EACH EXTENSION OF CREDIT The obligation of Bank to make each extension of credit requested by Borrower hereunder shall be subject to the fulfillment to Bank's satisfaction of each of the following conditions:

  • Extension of the Term At least two months prior to the third anniversary of the Effective Date, the Parties will evaluate the effectiveness of this Agreement and decide whether to extend the Term.