Reversal of Assets Clause Samples

Reversal of Assets. Clause 23.
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Reversal of Assets. Upon the expiration of the Concession Agreement, all reversible assets shall be reverted to the Federal Government, under the terms of this agreement and the regulation of the sector.
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Reversal of Assets. If pre-existing ▇▇▇▇▇ or infrastructure are used, the Concessionaire will assume, in relation to these, the responsibilities set out in the Agreement and in the Applicable Legislation.
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Reversal of Assets. 14.11. Upon the expiration of the Concession Agreement, all reversible assets shall be reverted to the Federal Government, under the terms of this agreement and the regulation of the sector. 14.12. The assets reverted to the Federal Government must be in adequate conditions of conservation and operation, in order to allow the continuity of the services that were the object of the Concession, for a further minimum period of 24 (twenty four) months, except in exceptional cases when they have a shorter useful life. ▇▇.▇▇. ▇▇ the event of early termination of the concession, the resources received by the Grantee as a result of the alienation of assets transferred by the Government will be deducted from the amount of any indemnification.
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Reversal of Assets. If pre-existing ▇▇▇▇▇ or infrastructure are used, the Concessionaire will assume, in relation to these, the responsibilities set out in the Agreement and in the Applicable Legislation. In the case of a Field, the planning for the Decommissioning of Facilities and the mechanisms for making the necessary funds available will be provided for in the respective Development Plan and reviewed periodically throughout the Production Phase by means of the Annual Work Programs and Production Phase Budget. The cost of Facility Decommissioning Operations will be established to cover the activities of permanent abandonment of ▇▇▇▇▇, deactivation and removal of lines and facilities and rehabilitation of areas, under the terms of Applicable Legislation.
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Related to Reversal of Assets

  • Disposal of Assets Where the Academy Trust acquires assets for a nil consideration or at an under value it shall be treated for the purpose of this Agreement as having incurred expenditure equal to the market value of those assets at the time that they were acquired. This provision shall not apply to assets transferred to the Academy Trust at nil or nominal consideration and which were previously used for the purposes of an Academy and/or were transferred from an LA, the value of which assets shall be disregarded.

  • No disposal of assets The Borrower will not transfer, lease or otherwise dispose of: (a) all or a substantial part of its assets, whether by one transaction or a number of transactions, whether related or not; or (b) any debt payable to it or any other right (present, future or contingent right) to receive a payment, including any right to damages or compensation.

  • Disposition of Assets No Loan Party shall, and no Loan Party shall suffer or permit any of its Subsidiaries to, directly or indirectly, sell, assign, lease, convey, transfer or otherwise dispose of (whether in one or a series of transactions) any Property (including the Stock of any Subsidiary of any Loan Party, whether in a public or a private offering or otherwise, and accounts and notes receivable, with or without recourse) or enter into any agreement to do any of the foregoing (except subject to compliance with, or termination of, this Agreement), except: (a) dispositions of inventory, or used, worn-out or surplus equipment or defaulted receivables for collection, all in the Ordinary Course of Business; (b) dispositions not otherwise permitted hereunder which are made for fair market value (excluding Accounts, Inventory and notes receivable); provided, that (i) at the time of any disposition, no Event of Default shall exist or shall result from such disposition, (ii) not less than 75% of the aggregate sales price from such disposition shall be paid in cash, (iii) such dispositions are made for fair market value, (iv) the requirements of Section 2.05(b)(ii), to the extent applicable, are complied with in connection therewith, provided that, all Net Cash Proceeds received from dispositions in any Fiscal Year under this clause (b) in an aggregate amount in excess of $7,500,000 per annum shall be paid in accordance with Section 2.03(b) of the Term Credit Agreement or, if applicable, Second Lien Credit Agreement, and (v) after giving effect to such disposition, the Loan Parties are in compliance on a pro forma basis with the covenant set forth in Section 7.19, recomputed for the most recent Fiscal Quarter for which financial statements have been delivered; (c) dispositions of Cash Equivalents; (d) licenses, sublicenses, leases or subleases granted to third parties in the Ordinary Course of Business not interfering with the business of the Loan Parties or any of their Subsidiaries; (e) dispositions constituting an Investment or Restricted Payment permitted under this Agreement; (f) dispositions in connection with an Event of Loss; provided that the requirements of Section 2.05(b) and Section 2.03(b) of the Term Credit Agreement are complied with in connection therewith; (g) dispositions of the assets of any Non-Material Subsidiary; (h) sale-leasebacks of real estate, machinery and equipment with a value not to exceed $10,000,000 in the aggregate; (i) termination of a lease that is not reasonably likely to result in a Material Adverse Effect and does not result from a default by a Loan Party; and (j) any disposition described in the Structure Memorandum.

  • Acquisition of Assets In the event the Company or any Subsidiary acquires any assets or other properties, such assets or properties shall constitute a part of the Collateral (as defined in the Security Agreement) and the Company shall take all action necessary to perfect the Purchasers’ security interest in such assets or properties pursuant to the Security Agreement.

  • Withdrawal of Assets If an arrangement with an Eligible Securities Depository no longer meets the requirements of Rule 17f-7, the Custodian shall direct the Domestic Subcustodian to withdraw the Fund’s Foreign Assets from such depository as soon as reasonably practicable.