Common use of Casualty and Other Events Clause in Contracts

Casualty and Other Events. Upon the occurrence of any one or more of the following events: (a) the loss, destruction or damage beyond repair of any Nuclear Material, or (b) the commandeering, condemnation, attachment or loss of use to the Lessee of any Nuclear Material by reason of the act of any third party or governmental instrumentality or the deprivation or loss of use to the Lessee of any Nuclear Material for any other reason, other than by reason of a Lease Event of Default, for a period exceeding ninety (90) days; or (c) a determination by the Lessee in its sole discretion that any Nuclear Material is no longer useful to the Lessee, provided, however, that (i) no Lease Event of Default has occurred and is continuing, and (ii) no such determination may be made by the Lessee with respect to any Nuclear Material prior to ---------- --; Then, in any such case, the Lessee promptly shall give written notice to the Lessor and the Secured Parties of any such event, and upon the earlier of (i) ten (10) days following receipt of any insurance or other proceeds paid with respect to the foregoing or (ii) one hundred and twenty (120) days after the occurrence of any such event, the Lessee shall pay to the Lessor an amount equal to the then Stipulated Casualty Value of such Nuclear Material, together with any Basic Rent and Additional Rent then due with respect to such Nuclear Material. The lease of such Nuclear Material hereunder and the obligation of the Lessee to pay Basic Rent and Additional Rent with respect to such Nuclear Material shall continue until the day on which the Lessor receives payment of such Stipulated Casualty Value, Basic Rent and Additional Rent. Upon the giving of written notice of the occurrence of such an event, the Lessee shall promptly use its best efforts to sell, or, if no sale is possible, to otherwise convey, on behalf of the Lessor, ownership of such Nuclear Material to a third party not disqualified by any applicable statute, law, regulation or agreement from acquiring such Nuclear Material, and the Lessor shall furnish title papers as may be necessary to effect such sale or conveyance on an as-is, where-is, non-installment, cash sale basis without recourse to or warranty or agreement of any kind by the Lessor. Any such sale or conveyance shall be effected on or before the date one hundred and twenty (120) days after the date of the occurrence of such event. The proceeds of such sale or conveyance shall be paid to the Lessor, and any amount so paid shall constitute a credit against the amount of the Stipulated Casualty Value payable by the Lessee under this Section 14.

Casualty and Other Events. Upon the occurrence of any one or more of the following events: (a) the loss, destruction or damage beyond repair of any Nuclear Material, or (b) the commandeering, condemnation, attachment or loss of use to the Lessee of any Nuclear Material by reason of the act of any third party or governmental instrumentality or the deprivation or loss of use to the Lessee of any Nuclear Material for any other reason, other than by reason of a Lease Event of Default, for a period exceeding ninety (90) days; or (c) a determination by the Lessee in its sole discretion that any Nuclear Material is no longer useful to the Lessee, provided, however, that (i) no Lease Event of Default has occurred and is continuing, and (ii) no such determination may be made by the Lessee with respect to any Nuclear Material prior to ---------- --November 5, 1999; Then, in any such case, the Lessee promptly shall give written notice to the Lessor and the Secured Parties of any such event, and upon the earlier of (i) ten (10) days following receipt of any insurance or other proceeds paid with respect to the foregoing or (ii) one hundred and twenty (120) days after the occurrence of any such event, the Lessee shall pay to the Lessor an amount equal to the then Stipulated Casualty Value of such Nuclear Material, together with any Basic Rent and Additional Rent then due with respect to such Nuclear Material. The lease of such Nuclear Material hereunder and the obligation of the Lessee to pay Basic Rent and Additional Rent with respect to such Nuclear Material shall continue until the day on which the Lessor receives payment of such Stipulated Casualty Value, Basic Rent and Additional Rent. Upon the giving of written notice of the occurrence of such an event, the Lessee shall promptly use its best efforts to sell, or, if no sale is possible, to otherwise convey, on behalf of the Lessor, ownership of such Nuclear Material to a third party not disqualified by any applicable statute, law, regulation or agreement from acquiring such Nuclear Material, and the Lessor shall furnish title papers as may be necessary to effect such sale or conveyance on an as-is, where-is, non-installment, cash sale basis without recourse to or warranty or agreement of any kind by the Lessor. Any such sale or conveyance shall be effected on or before the date one hundred and twenty (120) days after the date of the occurrence of such event. The proceeds of such sale or conveyance shall be paid to the Lessor, and any amount so paid shall constitute a credit against the amount of the Stipulated Casualty Value payable by the Lessee under this Section 14.

Casualty and Other Events. Upon the occurrence of any one or more of the following events: (a) the loss, destruction or damage beyond repair of any Nuclear Material, or (b) the commandeering, condemnation, attachment or loss of use to the Lessee of any Nuclear Material by reason of the act of any third party or governmental instrumentality or the deprivation or loss of use to the Lessee of any Nuclear Material for any other reason, other than by reason of a Lease Event of Default, for a period exceeding ninety (90) days; or (c) a determination by the Lessee in its sole discretion that any Nuclear Material is no longer useful to the Lessee, provided, however, that (i) no Lease Event of Default has occurred and is continuing, and (ii) no such determination may be made by the Lessee with respect to any Nuclear Material prior to ---------- --November 17, 1998; Then, in any such case, the Lessee promptly shall give written notice to the Lessor and the Secured Parties of any such event, and upon the earlier of (i) ten (10) days following receipt of any insurance or other proceeds paid with respect to the foregoing or (ii) one hundred and twenty (120) days after the occurrence of any such event, the Lessee shall pay to the Lessor an amount equal to the then Stipulated Casualty Value of such Nuclear Material, together with any Basic Rent and Additional Rent then due with respect to such Nuclear Material. The lease of such Nuclear Material hereunder and the obligation of the Lessee to pay Basic Rent and Additional Rent with respect to such Nuclear Material shall continue until the day on which the Lessor receives payment of such Stipulated Casualty Value, Basic Rent and Additional Rent. Upon the giving of written notice of the occurrence of such an event, the Lessee shall promptly use its best efforts to sell, or, if no sale is possible, to otherwise convey, on behalf of the Lessor, ownership of such Nuclear Material to a third party not disqualified by any applicable statute, law, regulation or agreement from acquiring such Nuclear Material, and the Lessor shall furnish title papers as may be necessary to effect such sale or conveyance on an as-is, where-is, non-installment, cash sale basis without recourse to or warranty or agreement of any kind by the Lessor. Any such sale or conveyance shall be effected on or before the date one hundred and twenty (120) days after the date of the occurrence of such event. The proceeds of such sale or conveyance shall be paid to the Lessor, and any amount so paid shall constitute a credit against the amount of the Stipulated Casualty Value payable by the Lessee under this Section 14.applicable

Casualty and Other Events. Upon the occurrence of any one ------------------------- or more of the following events: (a) the loss, destruction or damage beyond repair of any Nuclear Material, or (b) the commandeering, condemnation, attachment or loss of use to the Lessee of any Nuclear Material by reason of the act of any third party or governmental instrumentality or the deprivation or loss of use to the Lessee of any Nuclear Material for any other reason, other than by reason of a Lease Event of Default, for a period exceeding ninety (90) days; or (c) a determination by the Lessee in its sole discretion that any Nuclear Material is no longer useful to the Lessee, provided, however, that (i) no Lease Event of Default has occurred and is continuing, and (ii) no such determination may be made by the Lessee with respect to any Nuclear Material prior to ---------- --November 5, 1999; Then, in any such case, the Lessee promptly shall give written notice to the Lessor and the Secured Parties of any such event, and upon the earlier of (i) ten (10) days following receipt of any insurance or other proceeds paid with respect to the foregoing or (ii) one hundred and twenty (120) days after the occurrence of any such event, the Lessee shall pay to the Lessor an amount equal to the then Stipulated Casualty Value of such Nuclear Material, together with any Basic Rent and Additional Rent then due with respect to such Nuclear Material. The lease of such Nuclear Material hereunder and the obligation of the Lessee to pay Basic Rent and Additional Rent with respect to such Nuclear Material shall continue until the day on which the Lessor receives payment of such Stipulated Casualty Value, Basic Rent and Additional Rent. Upon the giving of written notice of the occurrence of such an event, the Lessee shall promptly use its best efforts to sell, or, if no sale is possible, to otherwise convey, on behalf of the Lessor, ownership of such Nuclear Material to a third party not disqualified by any applicable statute, law, regulation or agreement from acquiring such Nuclear Material, and the Lessor shall furnish title papers as may be necessary to effect such sale or conveyance on an as-is, where-is, non-installment, cash sale basis without recourse to or warranty or agreement of any kind by the Lessor. Any such sale or conveyance shall be effected on or before the date one hundred and twenty (120) days after the date of the occurrence of such event. The proceeds of such sale or conveyance shall be paid to the Lessor, and any amount so paid shall constitute a credit against the amount of the Stipulated Casualty Value payable by the Lessee under this Section 14.

Casualty and Other Events. Upon the occurrence of any one or more of the following events: (a) 1. the loss, destruction or damage beyond repair of any Nuclear Material, or (b) 2. the commandeering, condemnation, attachment or loss of use to the Lessee of any Nuclear Material by reason of the act of any third party or governmental instrumentality or the deprivation or loss of use to the Lessee of any Nuclear Material for any other reason, other than by reason of a Lease Event of Default, for a period exceeding ninety (90) days; or (c) 3. a determination by the Lessee in its sole discretion that any Nuclear Material is no longer useful to the Lessee, provided, however, that (ia) no Lease Event of Default has occurred and is continuing, and (iib) no such determination may be made by the Lessee with respect to any Nuclear Material prior to ---------- --November 17, 1998; Then, in any such case, the Lessee promptly shall give written notice to the Lessor and the Secured Parties of any such event, and upon the earlier of (i) ten (10) days following receipt of any insurance or other proceeds paid with respect to the foregoing or (ii) one hundred and twenty (120) days after the occurrence of any such event, the Lessee shall pay to the Lessor an amount equal to the then Stipulated Casualty Value of such Nuclear Material, together with any Basic Rent and Additional Rent then due with respect to such Nuclear Material. The lease of such Nuclear Material hereunder and the obligation of the Lessee to pay Basic Rent and Additional Rent with respect to such Nuclear Material shall continue until the day on which the Lessor receives payment of such Stipulated Casualty Value, Basic Rent and Additional Rent. Upon the giving of written notice of the occurrence of such an event, the Lessee shall promptly use its best efforts to sell, or, if no sale is possible, to otherwise convey, on behalf of the Lessor, ownership of such Nuclear Material to a third party not disqualified by any applicable statute, law, regulation or agreement from acquiring such Nuclear Material, and the Lessor shall furnish title papers as may be necessary to effect such sale or conveyance on an as-is, where-is, non-installment, cash sale basis without recourse to or warranty or agreement of any kind by the Lessor. Any such sale or conveyance shall be effected on or before the date one hundred and twenty (120) days after the date of the occurrence of such event. The proceeds of such sale or conveyance shall be paid to the Lessor, and any amount so paid shall constitute a credit against the amount of the Stipulated Casualty Value payable by the Lessee under this Section 14.applicable

Casualty and Other Events. Upon the occurrence of any one or more of the following events: (a) the loss, destruction or damage beyond repair of any Nuclear Material, or (b) the commandeering, condemnation, attachment or loss of use to the Lessee of any Nuclear Material by reason of the act of any third party or governmental instrumentality or the deprivation or loss of use to the Lessee of any Nuclear Material for any other reason, other than by reason of a Lease Event of Default, for a period exceeding ninety (90) days; or (c) a determination by the Lessee in its sole discretion that any Nuclear Material is no longer useful to the Lessee, provided, however, that (i) no Lease Event of Default has occurred and is continuing, and (ii) no such determination may be made by the Lessee with respect to any Nuclear Material prior to ---------- --__________ __; Then, in any such case, the Lessee promptly shall give written notice to the Lessor and the Secured Parties of any such event, and upon the earlier of (i) ten (10) days following receipt of any insurance or other proceeds paid with respect to the foregoing or (ii) one hundred and twenty (120) days after the occurrence of any such event, the Lessee shall pay to the Lessor an amount equal to the then Stipulated Casualty Value of such Nuclear Material, together with any Basic Rent and Additional Rent then due with respect to such Nuclear Material. The lease of such Nuclear Material hereunder and the obligation of the Lessee to pay Basic Rent and Additional Rent with respect to such Nuclear Material shall continue until the day on which the Lessor receives payment of such Stipulated Casualty Value, Basic Rent and Additional Rent. Upon the giving of written notice of the occurrence of such an event, the Lessee shall promptly use its best efforts to sell, or, if no sale is possible, to otherwise convey, on behalf of the Lessor, ownership of such Nuclear Material to a third party not disqualified by any applicable statute, law, regulation or agreement from acquiring such Nuclear Material, and the Lessor shall furnish title papers as may be necessary to effect such sale or conveyance on an as-is, where-is, non-installment, cash sale basis without recourse to or warranty or agreement of any kind by the Lessor. Any such sale or conveyance shall be effected on or before the date one hundred and twenty (120) days after the date of the occurrence of such event. The proceeds of such sale or conveyance shall be paid to the Lessor, and any amount so paid shall constitute a credit against the amount of the Stipulated Casualty Value payable by the Lessee under this Section 14.