Ministerial Action Sample Clauses

The 'Ministerial Action' clause defines the rights and obligations of the parties in relation to actions, approvals, or decisions taken by a government minister or relevant authority. Typically, this clause clarifies that certain aspects of the agreement are subject to ministerial consent or intervention, such as regulatory approvals, permits, or policy changes. For example, a project may only proceed if the minister grants a specific license, or the parties may be required to comply with new directives issued by the minister. The core function of this clause is to allocate responsibility and manage risk associated with government oversight, ensuring that both parties understand the impact of official decisions on their contractual obligations.
Ministerial Action. An approval or disapproval that merely requires a determination whether there has been compliance with applicable statues, ordinances, resolutions, regulations, or conditions of approval including, without limitation, the Development Plan, Project Entitlements, Special Conditions, and Mitigation Measures.
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Ministerial Action. In the case of a Company Event, the Company may also elect to cause the Convertible Debentures and, hence, the Partnership Preferred Securities to remain outstanding. If, at any time, a Trust Event shall occur and be continuing the Company shall (i) after receipt by the Company of a No Recognition Opinion with respect to the Partnership Preferred Securities and delivery of such No Recognition Opinion to the Trust, dissolve the Trust and, after satisfaction of creditors, cause the Partnership Preferred Securities held by the Property Trustee, having an aggregate stated liquidation preference equal to the aggregate stated liquidation amount of, with a distribution rate identical to the distribution rate of, and accrued and unpaid distributions equal to accrued and unpaid distributions on and having the same record date for payment as the Trust Securities, to be distributed to the holders of the Trust Securities, in liquidation of such holders' interests in the Trust, in the manner set forth in the Declaration, or (ii) after receipt by the Company of No Recognition Opinions with respect to the Partnership Preferred Securities and the Convertible Debentures and delivery of the appropriate No Recognition Opinion to each of the Trust and Citizens Capital, and following the dissolution of Citizens Capital in the manner set forth in this Agreement, dissolve the Trust, and, after satisfaction of creditors, cause the Convertible Debentures held by the General Partner, having aggregate stated principal amount equal to the aggregate stated liquidation amount of, with an interest payment rate identical to the distribution rate of and accrued and unpaid interest equal to accrued and unpaid distributions on and having the same record date for payment as the Trust Securities, to be distributed to the holders of the Trust Securities, in liquidation of such holders' interests in the Trust, in the manner set forth in the Declaration, or, in the event the Company cannot receive a No Recognition Opinion with respect to the Partnership Preferred Securities, the Company may dissolve the Trust and, after satisfaction of creditors, at the direction of the Company, as Debenture Issuer, and following the redemption, in whole or in part, of the Convertible Debentures in the manner set forth in the Indenture and the Partnership Preferred Securities in the manner set forth in this Agreement, redeem, in whole or in part, the Trust Securities in the manner set forth in the Declaration; p...
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Ministerial Action. 3.02 "Non-Book-Entry Preferred Securities"...................................................... 2.04 "No Recognition Opinion"......................................... 3.02 "Optional Redemption Date"....................................... 3.01 "Special Redemption Date"........................................ 3.02
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Ministerial Action. 3.05 "Non-book-Entry Preferred "Securities" ............................... 2.12 "Non-Equity Security" ...................... 10.04 "Note Call Price" .......................... 3.01 "Note Redemption Notice" ...................
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Ministerial Action. If at the time of any such Special Event, the ------------------- Company, Citizens Capital or the Trust are actually aware of an opportunity to eliminate the adverse effect of the Special Event on the Trust, the Company or Citizens Capital by taking some ministerial action (such as filing a form or making an election or pursuing some other similar reasonable measure) where the taking of such action does not involve a material cost, then the Company shall not, on or before ___________, 199_, redeem any Debentures at any time such opportunity exists, without first having pursued such ministerial action.
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Ministerial Action. At the time of any such Special Event, the ------------------- Company, Citizens Capital and the Trust each have a Ministerial Action Obligation.
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Related to Ministerial Action

  • Governmental Action Governmental Action means the destruction, confiscation or seizure of property described in Coverage A, B or C by order of any governmental or public authority. This exclusion does not apply to such acts ordered by any governmental or public authority that are taken at the time of a fire to prevent its spread, if the loss caused by fire would be covered under this policy.

  • Governmental Actions No Governmental Action is or will be required in connection with the execution, delivery or performance by it, or the consummation by it of the transactions contemplated by this Agreement or any other Loan Document to which it is, or is to become, a party other than such Borrower’s Approval, as applicable, which has been duly issued and is in full force and effect.

  • Remedial Actions In the event of Recipient’s noncompliance with section 603 of the Act, other applicable laws, Treasury’s implementing regulations, guidance, or any reporting or other program requirements, Treasury may impose additional conditions on the receipt of a subsequent tranche of future award funds, if any, or take other available remedies as set forth in 2 C.F.R. § 200.339. In the case of a violation of section 603(c) of the Act regarding the use of funds, previous payments shall be subject to recoupment as provided in section 603(e) of the Act. Hatch Act. Recipient agrees to comply, as applicable, with requirements of the Hatch Act (5 False Statements. Recipient understands that making false statements or claims in connection with this award is a violation of federal law and may result in criminal, civil, or administrative sanctions, including fines, imprisonment, civil damages and penalties, debarment from participating in federal awards or contracts, and/or any other remedy available by law.

  • Remedial Action A. If a represented individual has worked more than one thousand fifty (1,050) hours in the twelve (12) month period from the individual’s original date of hire, the represented individual may request remedial action from the State Human Resources Director in accordance with WAC 357-49. Following the Director’s review of the remedial action request, an individual may file exceptions to the Director’s decision in accordance with WAC 357. B. Remedial action is not subject to the provisions of the grievance procedure specified in Section 5.12, below.

  • Non-Ministerial Matters (i) With respect to matters that in the reasonable judgment of the Administrator are non-ministerial, the Administrator shall not take any action unless within a reasonable time before the taking of such action the Administrator shall have notified the Indenture Trustee or the Owner Trustee, as applicable, of the proposed action and the Indenture Trustee or the Owner Trustee, as applicable, shall not have withheld consent or provided an alternative direction. For the purpose of the preceding sentence, “non-ministerial matters” shall include, without limitation: (A) the amendment of the Indenture or execution of any supplement to the Indenture; (B) the initiation of any claim or lawsuit by the Issuer and the compromise of any action, claim or lawsuit brought by or against the Issuer (other than in connection with the collection of the Receivables); (C) the amendment, change or modification of any of the Basic Documents; (D) the appointment of successor Note Registrars, successor Paying Agents or successor Indenture Trustees pursuant to the Indenture or the appointment of successor Administrators or Successor Servicers, or the consent to the assignment by the Note Registrar, Paying Agent or Indenture Trustee of its obligations, under the Indenture; and (E) the removal of the Indenture Trustee (as to which the Owner Trustee, but not the Indenture Trustee, will receive notice and opportunity to object). (ii) Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated to, and shall not, (x) make any payments to the Noteholders under the Basic Documents, (y) sell the Trust Estate pursuant to Section 5.04 of the Indenture or (z) take any other action that the Issuer directs the Administrator not to take on its behalf.