Unit 1 Ownership Interest definition

Unit 1 Ownership Interest has the meaning given to such term in the Unit 1 Ownership Agreement.
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Unit 1 Ownership Interest means, as of any date, the ownership interest in Unit 1 that Lessor holds, as of such date pursuant to Section 7.5 of the Facility Lease, as the same may be adjusted from time to time pursuant to Section 7.5 of the Facility Lease. For the avoidance of doubt, Lessor’s Unit 1 Ownership Interest shall be the entire ownership interest in Unit 1 unless and until Lessor has sold or transferred a portion of its Unit 1 Ownership Interest to one or more of the other Owners.
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Unit 1 Ownership Interest has the meaning given to such term in Section 2.3(e)(i) of this Agreement.
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Examples of Unit 1 Ownership Interest in a sentence

  • If MGE Power or WPPI owes an Incremental Charge, then it shall be equal to the product of (a) $116,147,942 and (b) the difference between (i) such Party’s Unit 2 Ownership Interest and (ii) its Unit 1 Ownership Interest or zero, if it does not have a Unit 1 Ownership Interest, less (c) any Incremental Charge previously paid by such Party.

  • If at any time during the Incremental Charge Period, MGE Power’s or WPPI’s Unit 2 Ownership Interest is greater than its Unit 1 Ownership Interest (including when it does not have a Unit 1 Ownership Interest), then such Party shall be obligated to pay an amount (an “Incremental Charge”) determined in accordance with Section 2 below to ERGS SC and the other Unit 1 Owner, if applicable, in accordance with Section 3 below.

  • If both non-defaulting Parties exercise their option to purchase the defaulting Party’s Unit 1 Ownership Interest and Unit 1 Component Ownership Interests, then the non-defaulting Parties shall acquire such percentage of the defaulting Party’s Unit 1 Ownership Interest and Unit 1 Component Ownership Interests as will result in post-buyout Unit 1 Ownership Interests of 90% for ERGS SC and 10% for the other Unit 1 Owner, unless the non-defaulting Parties agree on a different allocation.

  • On each monthly Rent Payment Date during the Base Term Lessee shall pay to Lessor the Basic Rent attributable to ▇▇▇▇ ▇, calculated as follows: x + S RRIBT%i* (1 + RRIBT%i)rmbt * IBTi* MARBA i=1 (1 + RRIBT%i)rmbt - 1 y + S RRRTPI%j * (1+ RRRTPI%j)f* RTPIj *MARBA j=1 (1 + RRRTPI%j)f - 1 + RRIUC% * IUC + MMSC + CIMC ± PPA + DRC - ATC Where: BRU1 = Basic Rent for such month attributable to the Unit 1 Ownership Interest component of the Leased Facility (in $); PRCU1 = Primary Rent Component of Unit 1.

  • Except as provided for in the immediately preceding sentence, each Party shall bear any other Taxes imposed by Law upon such Party in connection with the acquisition and transfer of the Unit 1 Ownership Interest and Unit 1 Component Ownership Interests contemplated in this Article XII.

  • Notwithstanding the foregoing, however, Lessor may Transfer portions of its Unit 1 Ownership Interest and its New Common Facilities Ownership Interest to WPPI or MGE Power or their Affiliates or any other Owner, in accordance with Section 7.4 and Section 7.5 and the terms and conditions of the Lease Documents, provided that the portion transferred will not reduce Lessor’s Unit 1 Ownership Percentage in Unit 1 to an amount totaling less than 83.33%.

  • On and after the Commercial Operation Date, each Unit 1 Owner shall own, subject to the terms and conditions of the Unit 1 O&M Agreement if then in effect, a pro rata share (based on its Unit 1 Ownership Interest) of the net capacity and energy obtainable from Unit 1.

  • Each of MGE Power and WPPI shall pay any Incremental Charge which it owes to ERGS SC and the other Party (provided it owns a ▇▇▇▇ ▇ Ownership Interest and a Unit 2 Ownership Interest) pro rata based on their Unit 1 Ownership Interest divided by the aggregate Unit 1 Ownership Interests of ERGS SC and such Party.

  • In no event shall the Buyout Date be earlier than 60 days or later than 90 days after the date on which the first such non-defaulting Party gives notice of its election to purchase the defaulting Party’s Unit 1 Ownership Interest and Unit 1 Component Ownership Interests.

  • If MGE Power and/or WPPI elect to become Unit 1 Owners in accordance with Section 2.3(c), then upon each such Party becoming a Unit 1 Owner and acquiring a Unit 1 Ownership Interest in accordance with Article IV, such Party shall also acquire from ERGS SC in accordance with Article IV a percentage undivided ownership interest in each Component (each, a “Unit 1 Component Ownership Interest”) of the New Common Facilities determined in accordance with Exhibit D.

Related to Unit 1 Ownership Interest

  • Applicable Ownership Interest means, with respect to the Treasury portfolio,

  • Beneficial Ownership Interest means the right to receive payments and notices with respect to the Bonds held in a Book Entry System.

  • Residual Ownership Interest Any record or beneficial interest in the Class R Certificates.

  • Indirect Ownership Interest means an ownership interest in an entity that has an ownership interest in another entity. Indirect ownership interest includes an ownership interest in an entity that has an indirect ownership interest in another entity.

  • Membership Interest means a Member’s entire interest in the Company including such Member’s right to receive allocations and distributions pursuant to this Agreement and the right to participate in the management of the business and affairs of the Company in accordance with this Agreement, including the right to vote on, consent to, or otherwise participate in any decision or action of or by the Members granted pursuant to this Agreement.