Common use of Certain Obligations with respect to the Facility Clause in Contracts

Certain Obligations with respect to the Facility. (a) In the event Midwest voluntarily shuts down the Facility for a period of one (1) year or longer and such shutdown is unrelated to the performance of the modifications described in Section 5.9 of this Agreement and Section 7.4 of the Facility Lease, NRG shall (i) prior to the implementation of any such shutdown, replace the NRG Guarantee with one (1) or more irrevocable letter(s) of credit in a form reasonably acceptable to the Owner Lessor in an aggregate amount not less than the Termination Value, and (ii) cause Midwest to deliver the Facility with Post-Modification Capability upon any return thereof to the Owner Lessor.

Appears in 4 contracts

Samples: Participation Agreement (Midwest Generation LLC), Participation Agreement (Midwest Generation LLC), Participation Agreement (Midwest Generation LLC)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.