Common use of Annual Lease Payment Clause in Contracts

Annual Lease Payment. (a) During the Term of this Lease, Lessee shall pay to Lessor, in advance, pursuant to Lessor’s written instructions, without notice or demand, an Annual Lease Payment of one dollar ($1.00) payable on the anniversary of the execution of this Lease. (b) During the Term of this Lease, Lessee shall pay all property (real or personal) taxes assessed by Lessor with respect to the Solar Energy Facility or Lessee’s leasehold interest in the Premises. (c) Notwithstanding the foregoing, if the Net Metering Power Purchase Agreement is terminated pursuant to Section 6.1(d) or Section 8.4(c), and Lessee exercises its corresponding right (as Lessee) under Section 6.1(d)(ii) or Section 8.4((c)(ii), this Lease shall not terminate but shall be and remain in full force and effect until the Termination Date, unless terminated sooner in accordance with the terms hereof, and the annual Rent paid by Tenant to Landlord hereunder for the remainder of the Term shall be increased to reflect the fair market value of the leasehold interest provided herein with respect to the Solar Energy Facility, as agreed upon by the Parties or determined by an appraisal conducted by an appraiser mutually acceptable to both Parties. In the event of termination of this Lease, all obligations of the Parties hereunder beyond the date of termination shall cease except those which expressly survive expiration or termination of this Lease in accordance with the terms hereof.

Annual Lease Payment. (a) During the Term of this Lease, Lessee shall pay to Lessor, in advance, pursuant to Lessor’s written instructions, without notice or demand, an Annual Lease Payment of one dollar two dollars ($1.002.00) payable on the anniversary of the execution of this Lease. (b) During the Term of this Lease, Lessee shall pay all property (real or personal) taxes assessed by Lessor with respect to the Solar Energy Facility or Lessee’s leasehold interest in the Premises. (c) Notwithstanding the foregoing, if the Net Metering Power Purchase Agreement is terminated pursuant to Section 6.1(d) or Section 8.4(c)) thereof, and Lessee exercises its corresponding right (as Lessee) under Section 6.1(d)(ii) or Section 8.4((c)(ii), this Lease shall not terminate but shall be and remain in full force and effect until the Termination Date, unless terminated sooner in accordance with the terms hereof, and and, except in the annual Rent case of the termination of the Power Purchase Agreement pursuant to Section 8.4(c), the Annual Lease Payment paid by Tenant Lessee to Landlord Lessor hereunder for the remainder of the Term shall be increased to reflect the fair market value of the leasehold interest provided herein with respect to the Solar Energy Facility, as agreed upon by the Parties or determined by an appraisal conducted by an appraiser mutually acceptable to both Parties. In the event of termination of this Lease, all obligations of the Parties hereunder beyond the date of termination shall cease except those which expressly survive expiration or termination of this Lease in accordance with the terms hereof.