Common use of Compromise or Settlement Clause in Contracts

Compromise or Settlement. Lessor shall have the right to settle or compromise a contest if Lessor has provided Lessee with a reasonable opportunity to review a copy of that portion of the settlement or compromise proposal which relates to the claim for which Lessor is seeking indemnification hereunder; provided that if (a) Lessor fails to provide Lessee such a reasonable opportunity to review such portion of such proposal, or (b) after such reasonable opportunity to review such proposal Lessee in writing reasonably withholds its consent to all or part of such settlement or compromise proposal, then Lessee shall not be obligated to indemnify Lessor hereunder to the extent of the amount attributable to the Tax or Inclusion to which such settlement or compromise relates as to which Lessee has reasonably withheld its consent, or with respect to any other Inclusion or Tax for which a successful contest is foreclosed because of such settlement or compromise as to which Lessee has reasonably withheld its consent.

Appears in 2 contracts

Samples: Facility Lease Agreement (Wisconsin Electric Power Co), Facility Lease Agreement (Wisconsin Electric Power Co)

AutoNDA by SimpleDocs

Compromise or Settlement. Lessor shall have the right to settle or compromise a contest or a claim by a Unit 1 Owner if Lessor has provided Lessee with a reasonable opportunity to review a copy of that portion of the settlement or compromise proposal which relates to the claim for which Lessor is seeking indemnification hereunder; provided that if (a) Lessor fails to provide Lessee such a reasonable opportunity to review such portion of such proposal, or (b) after such reasonable opportunity to review such proposal Lessee in writing reasonably withholds its consent to all or part of such settlement or compromise proposal, then Lessee shall not be obligated to indemnify Lessor hereunder to the extent of the amount attributable to the Tax Tax, Inclusion Event, or Inclusion Loss to which such settlement or compromise relates as to which Lessee has reasonably withheld its consent, or with respect to any other Inclusion Event, Loss or Tax for which a successful contest is foreclosed because of such settlement or compromise as to which Lessee has reasonably withheld its consent. Any Dispute between Lessee and Lessor with respect to a payment under Section 4 of this Schedule 19.2 shall be governed by Article 20 of the Facility Lease.

Appears in 1 contract

Samples: Facility Lease Agreement (Wisconsin Energy Corp)

AutoNDA by SimpleDocs

Compromise or Settlement. Lessor shall have the right to settle or compromise a contest or a claim by a Unit 2 Owner if Lessor has provided Lessee with a reasonable opportunity to review a copy of that portion of the settlement or compromise proposal which relates to the claim for which Lessor is seeking indemnification hereunder; provided that if (a) Lessor fails to provide Lessee such a reasonable opportunity to review such portion of such proposal, or (b) after such reasonable opportunity to review such proposal Lessee in writing reasonably withholds its consent to all or part of such settlement or compromise proposal, then Lessee shall not be obligated to indemnify Lessor hereunder to the extent of the amount attributable to the Tax Tax, Inclusion Event, or Inclusion Loss to which such settlement or compromise relates as to which Lessee has reasonably withheld its consent, or with respect to any other Inclusion Event, Loss or Tax for which a successful contest is foreclosed because of such settlement or compromise as to which Lessee has reasonably withheld its consent. Any Dispute between Lessee and Lessor with respect to a payment under Section 4 of this Schedule 19.2 shall be governed by Article 20 of the Facility Lease.

Appears in 1 contract

Samples: Facility Lease Agreement (Wisconsin Energy Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!