Segment F definition
Examples of Segment F in a sentence
In the event that the total number of MIUs on Segment F is reduced below the Notional Capacity, as a result of physical deterioration, or for any other reason, during the term of this Agreement, TC-3 shall give the Grantee written notice of said decrease and the MIUs in which the Grantee has been granted an IRU hereunder shall be reduced in the same proportion as the total number of MIUs assigned to TC-3 in Segment F is reduced, except that such reductions shall not extend to fractions of half-MIUs.
The members of the Procurement Group shall act as trustees for the Parties to this Agreement and be solely responsible for all actions as may be required to execute the Supply Contract, on a joint, but not joint and several, basis with the supplier, to provide Segment F of the Cable System.
For the purposes of this Subparagraph 14.6, the Terminal Parties shall be the “Maintenance Authorities” which shall use all reasonable efforts to maintain economically Segment F of the Cable System in efficient working order and with the objective of achieving effective and timely repairs when necessary.
TC-3 hereby grants to the Grantee an option to acquire, on an IRU basis, an additional interest in one half (1/2) MIU in Segment F, as well as an MU in Segment A to the extent required for the use of such additional capacity, in the event that the Notional Capacity in the CANTAT-3 System is increased beyond 2,016 half-MIUs.
The special provisions within Segment F are valid for Clearing Members who which possess a clearing license for Securities Lending.
If the number of MIUs on Segment F is decreased as provided in Section 10.1 and that operating and maintenance charges related thereto are reduced proportionally, the Grantee's payments with respect to operating and maintenance charges for the IRU granted under this Agreement shall be adjusted proportionally to such reduction.
However, in the event agreement cannot be reached, the decision will be carried on the basis of a vote of at least two Parties, including at least one Party accessing the Cable System through a European Terminal Party’s cable station and one Party accessing the Cable System through the North American Terminal Party’s cable station, representing a two-third (2/3) majority of the total voting interests in Segment F as specified in Schedule 2.
In addition, appropriate adjustments will be made in each Party’s share of the capital costs and of the operating and maintenance costs relating to Segment F thereafter incurred to reflect that Party’s revised assignment of capacity in the Cable System.
In the event of liquidation of Segment A or any part thereof and/or Segment F or any part thereof by sale or other disposition, TC-3 shall share with the Grantee any proceeds or costs of such liquidation, sale or disposition of Segment A and/or Segment F received or incurred by TC-3 including, without limitation, any costs related to the removal of such Segment A and/or Segment F.
Any of the Maintenance Authorities shall have the right to deactivate Segment F, any Subsegment or any part thereof, in order to perform the duties imposed upon them in this Paragraph 14.