Common use of Time of Termination Clause in Contracts

Time of Termination. Each Trust under the Trust Agreements shall terminate in whole, to the extent provided in this Section 2.7, upon the earlier to occur of the following events: (a) The achievement of End State Conditions required under the Asset Sale Agreement and the Lease Agreement, as evidenced to the Trustee by the written certification of an Authorized Officer and a confirming written certification of ExGen . (b) The distribution of all of the assets from the Trust. The Trust Fund shall terminate when all of the separate Trusts have terminated.

Appears in 2 contracts

Sources: Nuclear Decommissioning Master Trust Agreement, Nuclear Decommissioning Master Trust Agreement (EnergySolutions, Inc.)

Time of Termination. Each The Trust under the Trust Agreements Agreement shall terminate in whole, to the extent provided in this Section 2.7, upon the earlier to occur of the following events: (a) The achievement of End State Conditions required under the Asset Sale Agreement and the Lease Agreement, Agreement as evidenced to the Trustee by the written certification of an Authorized Officer and a confirming written certification of ExGen ExGen. (b) The distribution from the Trust of all amounts drawn from the Letter of Credit and assignment of the assets from the Trust. The Trust Fund shall terminate when all of the separate Trusts have terminatedEasement for Disposal Capacity.

Appears in 1 contract

Sources: Backup Nuclear Decommissioning Trust Agreement (EnergySolutions, Inc.)