Common use of Basic Lease Term Clause in Contracts

Basic Lease Term. The basic lease term of this Facility Lease (the "BASIC LEASE TERM") shall commence on the Closing Date (the "BASIC LEASE COMMENCEMENT DATE") and shall continue for a period of 33 years and eight months, to and including _______ ___, 2034, subject to earlier termination pursuant to SECTIONS 10, 13, 14 or 17 hereof. The Facility Lessee shall have the right to renew this Facility Lease in accordance with SECTION 15 hereof. The Basic Lease Term and the Renewal Lease Terms are referred to as the "FACILITY LEASE TERM".

Appears in 2 contracts

Samples: Facility Lease Agreement (Eme Homer City Generation Lp), Facility Lease Agreement (Eme Homer City Generation Lp)

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Basic Lease Term. The basic lease term of this Facility Lease (the "BASIC LEASE TERMBasic Lease Term") shall commence on the Closing Date (the "BASIC LEASE COMMENCEMENT DATEBasic ---------------- ----- Lease Commencement Date") and shall continue for a period of 33 years and eight months33.75 years, to and ----------------------- including _______ ___September 19, 2034, subject to earlier termination pursuant to SECTIONS Section ------- 10, 13, 14 or 17 18 hereof. The Facility Lessee shall have the right to renew this ---------------- Facility Lease in accordance with SECTION Section 15 hereof. The Basic Lease Term and ---------- the Renewal Lease Terms are referred to as the "FACILITY LEASE TERMFacility Lease Term".. -------------------

Appears in 1 contract

Samples: Facility Lease Agreement (Mirant Mid Atlantic LLC)

Basic Lease Term. The basic lease term of this Facility Lease (the "BASIC LEASE TERMBasic Lease Term") shall commence on the Closing Date (the "BASIC LEASE COMMENCEMENT DATEBasic Lease Commencement Date") and shall continue for a period of 33 years and eight months, to and including _______ ___, 20342035, subject to earlier termination pursuant to SECTIONS Sections 10, 13, 14 or 17 hereof. The Facility Lessee shall have the right to renew this Facility Lease in accordance with SECTION Section 15 hereof. The Basic Lease Term and the Renewal Lease Terms are referred to as the "FACILITY LEASE TERMFacility Lease Term".

Appears in 1 contract

Samples: Facility Lease Agreement (Eme Homer City Generation Lp)

Basic Lease Term. The basic lease term of this Facility Lease (the "BASIC LEASE TERM") shall commence on the Closing Date (the "BASIC LEASE COMMENCEMENT DATE") and shall continue for a period of 33 years and eight nine months, to and including _______ ___, 2034, subject to earlier termination pursuant to SECTIONS SECTION 10, 13, 14 or OR 17 hereof. The Facility Lessee shall have the right to renew this Facility Lease in accordance with SECTION 15 hereof. The Basic Lease Term and the Renewal Lease Terms are referred to as the "FACILITY LEASE TERM".

Appears in 1 contract

Samples: Facility Lease Agreement (Eme Homer City Generation Lp)

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Basic Lease Term. The basic lease term of this Facility Lease (the "BASIC LEASE TERM") shall commence on the Closing Date (the "BASIC LEASE COMMENCEMENT DATE") and shall continue for a period of 33 years and eight months, to and including _______ ___, 20342035, subject to earlier termination pursuant to SECTIONS 10, 13, 14 or 17 hereof. The Facility Lessee shall have the right to renew this Facility Lease in accordance with SECTION 15 hereof. The Basic Lease Term and the Renewal Lease Terms are referred to as the "FACILITY LEASE TERM".

Appears in 1 contract

Samples: Facility Lease Agreement (Eme Homer City Generation Lp)

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