Credit and Collateral Covenants. (a) Seller shall, from time to time as requested by SCE, take such actions and execute, acknowledge, record, register, deliver and file such notices, statements, instruments and other documents as may be necessary or advisable to perfect the Security Interest. (b) During any period during which Seller is a Defaulting Party, Seller shall not: (i) Declare or pay any dividend, or make any other distribution or payment, on account of any equity interest in Seller; or (ii) Otherwise make any distribution or payment to any Affiliate of Seller. (c) If Seller is a Special Purpose Entity, then: (i) Seller shall not cause or permit the stock, equity ownership interest in Seller or assets of Seller to be pledged or assigned as collateral or otherwise to any party other than Lender under a Collateral Assignment Agreement. (ii) Seller shall not hold any material assets, become liable for any material obligations or engage in any material business activities other than the development, construction and operation of the Project. (iii) Seller shall not own, form or acquire, or otherwise conduct any of its activities through, any direct or indirect subsidiary.
Appears in 6 contracts
Samples: Distributed Energy Resource Purchase and Sale Agreement, Distributed Energy Resource Purchase and Sale Agreement, Renewable Power Purchase Agreement
