Qualification as Project Clause Samples

The 'Qualification as Project' clause defines the criteria or conditions under which a particular initiative or activity is formally recognized as a 'Project' under the agreement. Typically, this clause outlines specific requirements such as scope, objectives, deliverables, or approval processes that must be met for an endeavor to attain project status. For example, it may require written confirmation from both parties or adherence to a defined project plan. The core function of this clause is to ensure clarity and mutual understanding about which activities are governed by the project's terms, thereby preventing disputes over the applicability of contractual obligations.
Qualification as Project. (a) The Tenant will not take any action, or fail to take any action, which action or failure to act would cause the Facility not to constitute a “project” as such quoted term is defined in the Act. Without limiting the generality of the foregoing, the Tenant will in no event use the Demised Premises in such a way as to cause or permit the Facility to be used in violation of Section 862(2)(a) of the Act. (b) The occupation of the Demised Premises has not and will not result in the removal of a facility or plant of the Tenant from one area of the State to another area of the State or in the abandonment of one or more plants or facilities of the Tenant located within the State.
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Qualification as Project. The Tenant will not take any action, or fail to take any action, which action or failure to act would cause the Facility not to constitute a “project” as such quoted term is defined in the Act. Without limiting the generality of the foregoing, the Tenant will in no event use the Demised Premises in such a way as to cause or permit the Facility to be used in violation of Section 862(2)(a) of the Act.
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Qualification as Project. (a) The Sublessees will not take any action, or fail to take any action, which action or failure to act would cause the Facility not to constitute a “project” as such quoted term is defined in the Act. Without limiting the generality of the foregoing, the Sublessees will in no event use the Facility in such a way as to cause or permit the Facility to be used in violation of Section 862(2)(a) of the Act. (b) The occupation of the Facility has not and will not result in the removal of a facility or plant of either Sublessee from one area of the State to another area of the State or in the abandonment of one or more plants or facilities of either Sublessee located within the State, unless it is reasonably necessary to discourage such Sublessee from removing a facility or plant of such Sublessee located within the State to a location outside of the State or to preserve the competitive position of each Sublessee in its industry.
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Qualification as Project. The Tenant will not take any action or fail to take any action which action or failure to act would cause the Facility not to constitute project as such quoted term is defined in the Act Without limiting the generality of the foregoing the Tenant will in no event use the Demised Premises in such way as to cause or permit the Facility to be used in violation of Section 8622a ofthe Act The occupation of the Demised Premises has not and will not result in the removal of facility or plant of the Tenant from one area of the State to another area of the State or in the abandonment of one or more plants or facilities of the Tenant located within the State
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Related to Qualification as Project

  • Qualification and Taxation as a REIT The Company will use its best efforts to continue to meet the requirements for qualification and taxation as a REIT under the Code for its taxable year ending December 31, 2016, and the Company will use its best efforts to continue to qualify for taxation as a REIT under the Code unless and until the Company’s board of trustees determines in good faith that it is no longer in the best interests of the Company and its shareholders to be so qualified.

  • Qualification as a REIT The General Partner shall use its best efforts to cause the Partnership to distribute sufficient amounts under this Article 5 to enable the General Partner to pay dividends to the Stockholders that will enable the General Partner to (a) satisfy the requirements for qualification as a REIT under the Code and Regulations (“REIT Requirements”), and (b) avoid any federal income or excise tax liability; provided, however, that the General Partner shall not be bound to comply with this covenant to the extent such distributions would (i) violate applicable Delaware law, or (ii) contravene the terms of any notes, mortgages or other types of debt obligations to which the Partnership may be subject in conjunction with borrowed funds.

  • Qualification in State Each of the Company and any Sponsor Affiliates warrant that it is duly qualified to do business in the State, and covenants that it will continue to be so qualified so long as it operates any portion of the Project.

  • QUALIFICATION OF BIDDERS BID PACKAGE REQUIREMENTS:

  • Qualification Rights Masterworks will have the right to request that the Company qualify on Form 1-A, or a comparable form, the resale of any Class A shares beneficially owned by Masterworks or any entity administered by Masterworks. There are no limitations or restrictions on the size or frequency of such qualification requests, other than pursuant to applicable law, provided, that all costs associated with any such qualification shall be the responsibility of Masterworks.