Common use of Damage or Destruction of the Facility Clause in Contracts

Damage or Destruction of the Facility. (a) If the Facility or any part or component thereof shall be damaged or destroyed (in whole or in part) at any time during the Lease Term: (i) the Agency shall have no obligation to replace, repair, rebuild, restore or relocate the Facility; (ii) there shall be no abatement or reduction in the amounts payable by the Company under this Lease Agreement, including, without limitation, the PILOT Payments (whether or not the Facility is replaced, repaired, rebuilt, restored or relocated); (iii) the Company shall promptly give written notice thereof to the Agency; (iv) upon the occurrence of such damage or destruction, the Net Proceeds derived from the insurance shall be (A) paid to the Company or the Lender, as applicable, for the replacement, repair, rebuilding, restoration or relocation of the Facility as provided in Section 7.1(b) hereof or (B) applied pursuant to Section 7.1(e) hereof; and (v) if the Facility is not replaced, repaired, rebuilt, restored or relocated, as provided herein and in Section 7.1(b) hereof, this Lease Agreement shall be terminated at the option of the Agency and the provisions of Section 7.1(e) hereof shall apply. (b) Any replacements, repairs, rebuilding, restorations or relocations of the Facility by the Company after the occurrence of such damage or destruction shall be subject to the following conditions: (i) the Facility shall be in substantially the same condition and value as an operating entity as existed prior to the damage or destruction; (ii) the Facility shall continue to constitute a “project” as such term is defined in the Act; (iii) the Facility will be subject to no Liens, other than Permitted Encumbrances; and (iv) any other conditions the Agency may reasonably impose. (c) All such repair, replacement, rebuilding, restoration or relocation of the Facility shall be effected with due diligence in a good and workmanlike manner in compliance with all applicable legal requirements, shall be promptly and fully paid for by the Company in accordance with the terms of the applicable contracts and shall automatically become a part of the Facility as if the same were specifically provided herein. (d) In the event such Net Proceeds are not sufficient to pay in full the costs of such repair, replacement, rebuilding, restoration or relocation, the Company shall nonetheless complete the work, or cause the work to be completed pursuant to the terms of this Lease Agreement, and pay from its own moneys, or cause to be paid by such other party as may be obligated for payment that portion of the costs thereof in excess of such Net Proceeds. All such repairs, replacements, rebuilding, restoration or relocations made pursuant to this Section, whether or not requiring the expenditure of the Company’s own money or moneys of any other person, shall automatically become a part of the Facility as if the same were specifically described herein. (e) If the Company shall not repair, replace, rebuild, restore or relocate the Facility, it shall be deemed to have exercised its option to terminate this Lease Agreement pursuant to Section 11.1 hereof. Any Net Proceeds derived from insurance shall be applied to the payment of the amounts required to be paid by Section 11.2 hereof and the balance shall be delivered to the Company. If an Event of Default hereunder shall have occurred and the Agency shall have exercised its remedies under Section 10.2 hereof, such Net Proceeds shall be applied to the payment of the amounts required to be paid by Section 10.2 and Section 10.4 hereof.

Damage or Destruction of the Facility. (a) If the Facility or any part or component thereof shall be damaged or destroyed (in whole or in part) at any time during the Lease Term: (i) the Agency shall have no obligation to replace, repair, rebuild, restore or relocate the Facility; (ii) there shall be no abatement or reduction in the amounts payable by the Company under this Lease Agreement, including, without limitation, the PILOT Payments (whether or not the Facility is replaced, repaired, rebuilt, restored or relocated); (iii) the Company shall promptly give written notice thereof to the AgencyAgency or any Lender; (iv) upon the occurrence of such damage or destruction, the Net Proceeds derived from the insurance shall be (A) paid to the Company or the Lender, as applicable, for the replacement, repair, rebuilding, restoration or relocation of the Facility as provided in Section 7.1(b) hereof hereof, or if there is a Mortgage in effect, to the Lender to the extent provided in the Mortgage, or (B) applied pursuant to Section 7.1(e) hereof; and (v) if the Facility is not replaced, repaired, rebuilt, restored or relocated, as provided herein and in Section 7.1(b) hereof, this Lease Agreement shall be terminated at the option of the Agency and the provisions of Section 7.1(e) hereof shall apply. (b) Any replacements, repairs, rebuilding, restorations or relocations of the Facility by the Company after the occurrence of such damage or destruction shall be subject to the following conditions: (i) the Facility shall be in substantially the same condition and value as an operating entity as existed prior to the damage or destruction; (ii) the Facility shall continue to constitute a “project” as such term is defined in the Act; (iii) the Facility will be subject to no Liens, other than Permitted Encumbrances; and (iv) any other conditions the Agency may reasonably impose. (c) All such repair, replacement, rebuilding, restoration or relocation of the Facility shall be effected with due diligence in a good and workmanlike manner in compliance with all applicable legal requirements, shall be promptly and fully paid for by the Company in accordance with the terms of the applicable contracts and shall automatically become a part of the Facility as if the same were specifically provided herein. (d) In the event such Net Proceeds are not sufficient to pay in full the costs of such repair, replacement, rebuilding, restoration or relocation, the Company shall nonetheless complete the work, or cause the work to be completed pursuant to the terms of this Lease Agreement, and pay from its own moneys, or cause to be paid by such other party as may be obligated for payment that portion of the costs thereof in excess of such Net Proceeds. All such repairs, replacements, rebuilding, restoration or relocations made pursuant to this Section, whether or not requiring the expenditure of the Company’s own money or moneys of any other person, shall automatically become a part of the Facility as if the same were specifically described herein. (e) If the Company shall not repair, replace, rebuild, restore or relocate the Facility, it shall be deemed to have exercised its option to terminate this Lease Agreement pursuant to Section 11.1 hereof. Any Net Proceeds derived from insurance shall be applied to the payment of the amounts required to be paid by Section 11.2 hereof and the balance shall be delivered to the Company. If an Event of Default hereunder shall have occurred and the Agency or any Lender shall have exercised its there respective remedies under Section 10.2 hereof, such Net Proceeds shall be applied to the payment of the amounts required to be paid by Section 10.2 and Section 10.4 hereof.

Damage or Destruction of the Facility. (a) If any portion of the Facility or any part or component thereof shall be is damaged or destroyed (in whole or in part) at any time during the Lease Term: : (i) the Agency NGL shall not have no an obligation to replace, repair, rebuild, restore or relocate the Facility; Facility or any portion thereof; (ii) there shall be no abatement or reduction in the amounts payable by the Company PESRM under this Lease Agreement, including, without limitation, the PILOT Payments Agreement (whether or not the Facility is replaced, repaired, rebuilt, restored or relocated); ; and (iii) the Company shall promptly give written notice thereof to the Agency; (iv) upon the occurrence of such damage or destructionPESRM shall, the Net Proceeds derived from the insurance shall be at its option, either (A) paid to the Company or the Lender, as applicable, for the replacement, repair, rebuildingreplace, restoration rebuild, restore or relocation of relocate the Facility as provided in Section 7.1(b) hereof Facility, or (B) applied pursuant continue to Section 7.1(e) pay the outstanding amounts due to NGL under this Agreement in accordance with the terms hereof; and (v) if the Facility is not replaced, repaired, rebuilt, restored or relocated, as provided herein and in Section 7.1(b) hereof, this Lease Agreement shall be terminated at the option of the Agency and the provisions of Section 7.1(e) hereof shall apply. (b) Any such repairs, replacements, repairs, rebuilding, restorations or relocations of the Facility by the Company after the occurrence of such damage or destruction shall be subject to the following conditions: (i) all such repairs, replacements, rebuilding, restorations or relocations shall be effected with due diligence in a good and workmanlike manner and in compliance will all Applicable Law and be promptly and fully paid for by PESRM in accordance with the terms of the applicable contracts; and (ii) the Facility shall be in substantially the same condition and value as an operating entity as existed prior to the damage or destruction; (ii) the Facility shall continue to constitute a “project” as such term is defined in the Act; (iii) the Facility will be subject to no Liens, other than Permitted Encumbrances; and (iv) any other conditions the Agency may reasonably impose. (c) All such repair, replacement, rebuilding, restoration or relocation of the Facility shall be effected with due diligence in a good and workmanlike manner in compliance with all applicable legal requirements, shall be promptly and fully paid for by the Company in accordance with the terms of the applicable contracts and shall automatically become a part of the Facility as if the same were specifically provided herein. (d) In the event such Net Proceeds are not sufficient If PESRM elects to pay in full the costs of such repair, replacement, rebuilding, restoration or relocation, the Company shall nonetheless complete the work, or cause the work to be completed pursuant to the terms of this Lease Agreement, and pay from its own moneys, or cause to be paid by such other party as may be obligated for payment that portion of the costs thereof in excess of such Net Proceeds. All such repairs, replacements, rebuilding, restoration or relocations made pursuant to this Section, whether or not requiring the expenditure of the Company’s own money or moneys of any other person, shall automatically become a part of the Facility as if the same were specifically described herein. (e) If the Company shall not repair, replace, rebuild, restore or relocate the Facility, it in the event insurance proceeds are not sufficient to pay in full the costs of such replacement, repair, rebuilding, restoration or relocation, PESRM shall be deemed to have exercised nonetheless complete the work and pay from its option to terminate this Lease Agreement own moneys that portion of the costs thereof in excess of such insurance proceeds. All such replacements, repairs, rebuilding, restoration or relocation made pursuant to this Section 11.1 hereof. Any Net Proceeds derived from insurance 5.2 shall be applied to the payment automatically become a part of the amounts required to be paid by Section 11.2 hereof and the balance shall be delivered to the Company. If an Event of Default hereunder shall have occurred and the Agency shall have exercised its remedies under Section 10.2 hereof, such Net Proceeds shall be applied to the payment of the amounts required to be paid by Section 10.2 and Section 10.4 hereofFacility.

Damage or Destruction of the Facility. (a) If the Facility or any part or component thereof shall be damaged or destroyed (in whole or in part) at any time during the Lease Term: (i) the Agency shall have no obligation to replace, repair, rebuild, restore or relocate the Facility; (ii) there shall be no abatement or reduction in the amounts payable by the Company under this Lease Agreement, including, without limitation, the PILOT Payments (whether or not the Facility is replaced, repaired, rebuilt, restored or relocated); (iii) the Company shall promptly give written notice thereof to the Agency; (iv) upon the occurrence of such damage or destruction, the Net Proceeds derived from the insurance shall be (A) paid to the Company or the Lender, as applicable, for the replacement, repair, rebuilding, restoration or relocation of the Facility as provided in Section 7.1(b) hereof or (B) applied pursuant to Section 7.1(e) hereof; and (v) if the Facility is not replaced, repaired, rebuilt, restored or relocated, as provided herein and in Section 7.1(b) hereof, this Lease Agreement shall be terminated at the option of the Agency and the provisions of Section 7.1(e) hereof shall apply. (b) Any replacements, repairs, rebuilding, restorations or relocations of the Facility by the Company after the occurrence of such damage or destruction shall be subject to the following conditions: (i) the Facility shall be in substantially the same condition and value as an operating entity as existed prior to the damage or destruction; (ii) the Facility shall continue to constitute a “project” as such term is defined in the Act; (iii) the Facility will be subject to no Liens, other than Permitted Encumbrances; and (iv) any other conditions the Agency may reasonably impose. (c) All such repair, replacement, rebuilding, restoration or relocation of the Facility shall be effected with due diligence in a good and workmanlike manner in compliance with all applicable legal requirements, shall be promptly and fully paid for by the Company in accordance with the terms of the applicable contracts and shall automatically become a part of the Facility as if the same were specifically provided herein. (d) In the event such Net Proceeds are not sufficient to pay in full the costs of such repair, replacement, rebuilding, restoration or relocation, the Company shall nonetheless complete the work, or cause the work to be completed pursuant to the terms of this Lease Agreement, and pay from its own moneys, or cause to be paid by such other party as may be obligated for payment that portion of the costs thereof in excess of such Net Proceeds. All such repairs, replacements, rebuilding, restoration or relocations made pursuant to this Section, whether or not requiring the expenditure of the Company’s own money or moneys of any other person, shall automatically become a part of the Facility as if the same were specifically described herein. (e) If the Company shall not repair, replace, rebuild, restore or relocate the Facility, it shall be deemed to have exercised its option to terminate this Lease Agreement pursuant to Section 11.1 hereof. Any Net Proceeds derived from insurance shall be applied to the payment of the Mortgage, if any, and the amounts required to be paid by Section 11.2 hereof and the balance shall be delivered to the Company. If an Event of Default hereunder shall have occurred and the Agency shall have exercised its remedies under Section 10.2 hereof, such Net Proceeds shall be applied to the payment of the amounts required to be paid by Section 10.2 and Section 10.4 hereof.

Damage or Destruction of the Facility. (a) If the Facility or any part or component thereof shall be damaged or destroyed (in whole or in part) at any time during the Lease Term: (i) the Agency shall have no obligation to replace, repair, rebuild, restore or relocate the Facility; (ii) there shall be no abatement or reduction in the amounts payable by the Company under this Lease Agreement, including, without limitation, the PILOT Payments Agreement (whether or not the Facility is replaced, repaired, rebuilt, restored or relocated); (iii) the Company shall promptly give written notice thereof to the Agency; (iv) upon the occurrence of such damage or destruction, the Net Proceeds derived from the insurance shall be (A) paid to the Company or the Lender, as applicable, for the replacement, repair, rebuilding, restoration or relocation of the Facility as provided in Section 7.1(b) hereof or (B) applied pursuant to Section 7.1(e) hereof; and (v) if the Facility is not replaced, repaired, rebuilt, restored or relocated, as provided herein and in Section 7.1(b) hereof, this Lease Agreement shall be terminated at the option of the Agency and the provisions of Section 7.1(e) hereof shall apply. (b) Any replacements, repairs, rebuilding, restorations or relocations of the Facility by the Company after the occurrence of such damage or destruction shall be subject to the following conditions: (i) the Facility shall be in substantially the same condition and value as an operating entity as existed prior to the damage or destruction; (ii) the Facility shall continue to constitute a “project” as such term is defined in the Act; (iii) the Facility will be subject to no Liens, other than Permitted Encumbrances; and (iv) any other conditions the Agency may reasonably impose. (c) All such repair, replacement, rebuilding, restoration or relocation of the Facility shall be effected with due diligence in a good and workmanlike manner in compliance with all applicable legal requirements, shall be promptly and fully paid for by the Company in accordance with the terms of the applicable contracts and shall automatically become a part of the Facility as if the same were specifically provided herein. (d) In the event such Net Proceeds are not sufficient to pay in full the costs of such repair, replacement, rebuilding, restoration or relocation, the Company shall nonetheless complete the work, or cause the work to be completed pursuant to the terms of this Lease Agreement, and pay from its own moneys, or cause to be paid by such other party as may be obligated for payment that portion of the costs thereof in excess of such Net Proceeds. All such repairs, replacements, rebuilding, restoration or relocations made pursuant to this Section, whether or not requiring the expenditure of the Company’s own money or moneys of any other person, shall automatically become a part of the Facility as if the same were specifically described herein. (e) If the Company shall not repair, replace, rebuild, restore or relocate the Facility, it shall be deemed to have exercised its option to terminate this Lease Agreement pursuant to Section 11.1 hereof. Any Net Proceeds derived from insurance shall be applied to the payment of the amounts required to be paid by Section 11.2 hereof and the balance shall be delivered to the Company. If an Event of Default hereunder shall have occurred and the Agency shall have exercised its remedies under Section 10.2 hereof, such Net Proceeds shall be applied to the payment of the amounts required to be paid by Section 10.2 and Section 10.4 hereof.

Damage or Destruction of the Facility. (a) If the Facility or any part or component thereof shall be damaged or destroyed (in whole or in part) at any time during the Lease Term: (i) the Agency shall have no obligation to replace, repair, rebuild, restore or relocate the Facility;; and (ii) there shall be no abatement or reduction in the amounts payable by the Company under this Lease Agreement, including, without limitation, Agreement or the PILOT Payments Agreement (whether or not the Facility is replaced, repaired, rebuilt, restored or relocated);; and (iii) the Company shall promptly give written notice thereof to the Agency;; and (iv) upon the occurrence of such damage or destruction, the Net Proceeds derived from the insurance shall be (A) paid to the Company or the Lender, as applicable, for the replacement, repair, rebuilding, restoration or relocation of the Facility as provided in Section 7.1(b) hereof or (B) applied pursuant to Section 7.1(e) hereofCompany; and (v) if the Facility is not replaced, repaired, rebuilt, restored or relocated, as provided herein and in Section 7.1(b) hereof, Company shall have the option to terminate this Lease Agreement shall be terminated at the option of the Agency and the provisions of pursuant to Section 7.1(e) 11.1 hereof shall apply. (b) Any replacementsor to promptly replace, repairsrepair, rebuilding, restorations rebuild or relocations of restore the Facility by or the Company after the occurrence of such damage damaged part or destruction shall be subject component thereof to the following conditions: (i) the Facility shall be in substantially the same condition and value as an operating entity as existed prior to the such damage or destruction; (ii) , with such changes, alterations and modifications as may be desired by Company, provided that such changes, alterations or modifications do not so change the nature of the Facility shall continue to that it does not constitute a “"project” " as such term is defined in the Act; (iii) Act and provided that the Facility will be subject to no Liens, Liens other than Permitted Encumbrances; and (ivvi) any other conditions the Agency may reasonably imposeshall have the right to terminate this Lease Agreement pursuant to Section 10.2 hereof if the Company does not promptly replace, repair, rebuild or restore the Facility or the damaged part or component thereof as described in (v) above. (cb) All such repair, replacement, rebuilding, restoration or relocation of the Facility shall be effected with due diligence in a good and workmanlike manner in compliance with all applicable legal requirements, shall be promptly and fully paid for by the Company in accordance with the terms of the applicable contracts and shall automatically become a part of the Facility as if the same were specifically provided herein. (d) In the event such Net Proceeds are not sufficient to pay in full the costs of such repair, replacement, rebuilding, restoration or relocation, the Company shall nonetheless complete the work, or cause the work to be completed pursuant to the terms of this Lease Agreementcontracts, and pay from its own moneys, or cause to be paid by such other party as may be obligated for payment that portion of the costs thereof in excess of such Net Proceeds. All such repairs, replacements, rebuilding, restoration or relocations made pursuant to this Section, whether or not requiring the expenditure of the Company’s own money or moneys of any other person, shall automatically become a part of the Facility as if the same were specifically described herein. Any balance of such Net Proceeds remaining after payment of all costs of replacement, repair, rebuilding, restoration or relocation shall be retained by the Company. (ec) The Company shall have the right to settle and adjust all claims under any policies of insurance required by Section 6.4(a) hereof on behalf of the Agency and on its own behalf. (d) If the Company shall not repair, replace, rebuild, restore or relocate the Facility, it shall be deemed to have exercised exercise its option to terminate this Lease Agreement pursuant to Section 11.1 hereof. Any , the Net Proceeds derived from such insurance shall be applied to the payment of the amounts required to be paid by Section 11.2 hereof and the any balance remaining thereafter shall be delivered to retained by the Company. If an Event of Default hereunder shall have occurred and the Agency shall have exercised its remedies under Section 10.2 hereof, such Net Proceeds shall be applied to the payment of the amounts required to be paid by Section 10.2 and Section 10.4 hereofhereof and any balance remaining thereafter shall be retained by the Company. (e) If the Facility has been substantially damaged or destroyed and is not replaced, repaired, rebuilt, restored or relocated, at the option of the Agency, the Facility will be reconveyed to the Company.

Damage or Destruction of the Facility. (a) If the Facility or any part or component thereof shall be damaged or destroyed (in whole or in part) at any time during the Lease Term: (i) the Agency shall have no obligation to replace, repair, rebuild, restore or relocate the Facility;: and (ii) there shall be no abatement or reduction in the amounts payable by the Company under this Lease Agreement, including, without limitation, Agreement or the PILOT Payments Agreement (whether or not the Facility is replaced, repaired, rebuilt, restored or relocated);; and (iii) the Company shall promptly give written notice thereof to the Agency;Agency and the Mortgagee; and (iv) upon the occurrence of such damage or destruction, destruction the Net Proceeds derived from the insurance shall be (A) paid to the Company or the Lender, Mortgagee and except as applicable, for the replacement, repair, rebuilding, restoration or relocation of the Facility as otherwise provided in Section 7.1(b11 .1 and subsection (d) hereof or (B) hereof, applied by the Mortgagee pursuant to Section 7.1(e) hereofthe terms of the Mortgage; and (v) if the Facility is not replaced, replaced repaired, rebuilt, restored or relocated, as provided herein and in Section 7.1(b) hereof, this Lease Agreement shall be terminated at the option of the Agency and the provisions of Section 7.1(e) Sections 11.2, 11.3 and 11.4 hereof shall apply., (b) Any replacements, replacements repairs, rebuilding, restorations or relocations of the Facility by the Company after the occurrence of such damage or destruction shall be subject to the following conditions: (i) the Facility shall be in substantially the same condition and value as an operating entity as existed prior to the damage or destruction; (ii) the Facility shall continue to constitute a “"project” " as such term is defined in the Act; (iii) the Facility will be subject to no Liens, other than Permitted Encumbrances; and (iv) any other conditions the Agency Mortgagee may reasonably impose. (c) All such repair, replacement, rebuilding, restoration or relocation of the Facility shall be effected with due diligence in a good and workmanlike manner in compliance with all applicable legal requirements, shall be promptly and fully paid for by the Company in accordance with the terms of the applicable contracts contracts, and shall automatically become a part of the Facility as if the same were specifically provided herein. (d) In the event such Net Proceeds are not sufficient to pay in full the costs of such repair, replacement, rebuilding, restoration or relocation, the Company shall nonetheless complete the work, or cause the work to be completed pursuant to the terms of this Lease Agreement, and pay from its own moneys, or cause to be paid by such other party as may be obligated for payment that portion of the costs thereof in excess of such Net Proceeds. All such repairs, replacements, rebuilding, restoration or relocations made pursuant to this Section, whether or not requiring the expenditure of the Company’s own money or moneys of any other person, shall automatically become a part of the Facility as if the same were specifically described herein. (e) If the Company shall not repair, replace, rebuild, restore or relocate the Facility, it shall be deemed to have exercised exercise its option to terminate this Lease Agreement pursuant to Section 11.1 hereof11.1. Any hereof such Net Proceeds derived from insurance shall be applied to the payment of the amounts required to be paid by Section 11.2 hereof and the balance shall be delivered to the Companyhereof. If an Event of Default hereunder shall have occurred and the Agency Mortgagee shall have exercised its remedies under Section 10.2 hereof, hereof such Net Proceeds shall be applied to the payment of the amounts required to be paid by Section 10.2 and Section 10.4 hereof, (e) If the entire amount of the Loan and interest thereon has been fully paid, all such remaining Net Proceeds shall be paid to the Company. (f) If the Facility has been substantially damaged or destroyed and is not replaced, repaired, rebuilt, restored or relocated, the Facility will be reconveyed to the Company subject to the Mortgage.

Damage or Destruction of the Facility. (a) If the Facility or any part or component thereof shall be damaged or destroyed (in whole or in part) at any time during the Lease Term: (i) the Agency shall have no obligation to replace, repair, rebuild, restore or relocate the Facility; (ii) there shall be no abatement or reduction in the amounts payable by the Company under this Lease Agreement, including, without limitation, the PILOT Payments Agreement (whether or not the Facility is replaced, repaired, rebuilt, restored or relocated); (iii) the Company shall promptly give written notice thereof to the AgencyAgency and any Lender; (iv) upon the occurrence of such damage or destruction, the Net Proceeds derived from the insurance shall be (A) paid to the Company Company, or if there is a Mortgage or Mortgages in effect, to the Lender, applicable Lender or Lenders to the extent provided in the applicable Mortgage and except as applicable, for the replacement, repair, rebuilding, restoration or relocation of the Facility as otherwise provided in Section 7.1(b11.1 and subsection (e) hereof hereof, applied by such Lender or (B) applied Lenders pursuant to Section 7.1(e) hereof; andthe terms of the Mortgage or Mortgages; (v) if the Facility is not replaced, repaired, rebuilt, restored or relocated, as provided herein and in Section 7.1(b) hereof, this Lease Agreement shall be terminated at the option of the Agency Agency, the Facility reconveyed subject to any Mortgage, and the provisions of Section 7.1(e) Sections 11.2 and 11.3 hereof shall apply. (b) Any replacements, repairs, rebuilding, restorations or relocations of the Facility by the Company after the occurrence of such damage or destruction shall be subject to the following conditions: (i) the Facility shall be in substantially the same condition and value as an operating entity as existed prior to the damage or destruction; (ii) the Facility shall continue to constitute a “project” as such term is defined in the Act; (iii) the Facility will be subject to no Liens, other than Permitted Encumbrances; and (iv) any other conditions the Agency any Lender may reasonably impose. (c) All such repair, replacement, rebuilding, restoration or relocation of the Facility shall be effected with due diligence in a good and workmanlike manner in compliance with all applicable legal requirements, shall be promptly and fully paid for by the Company in accordance with the terms of the applicable contracts and shall automatically become a part of the Facility as if the same were specifically provided herein. (d) In the event such Net Proceeds are not sufficient to pay in full the costs of such replacement, repair, replacement, rebuilding, restoration or relocationrestoration, the Company shall nonetheless complete the work, or cause the work to be completed pursuant to the terms of this Lease Agreementcompleted, and pay from its own moneys, or cause to be paid by such other party as may be obligated for payment pursuant to the terms of this Lease Agreement that portion of the costs thereof in excess of such Net Proceeds. All such replacements, repairs, replacements, rebuilding, restoration or relocations made pursuant to this Section, whether or not requiring the expenditure of the Company’s own money or moneys of any other person, shall automatically become a part of the Facility as if the same were specifically described herein. (e) If the Company shall not repair, replace, rebuild, restore or relocate the Facility, it shall be deemed to have exercised exercise its option to terminate this Lease Agreement pursuant to Section 11.1 hereof. Any , any Net Proceeds derived from insurance shall be applied to the payment of the amounts required to be paid by Section 11.2 hereof and the balance shall be delivered to the Company. If an Event of Default hereunder shall have occurred and will be continuing and the Agency or any Lender shall have exercised its their respective remedies under Section 10.2 hereof, hereof such Net Proceeds shall be applied to the payment of the amounts required to be paid by Section 10.2 and Section 10.4 hereof. (f) If the entire amount of every outstanding Loan, if any, and interest thereon and all other amounts due and owing to the Agency hereunder has been fully paid, all such remaining Net Proceeds shall be paid to the Company.

Damage or Destruction of the Facility. (a) If the Facility or any part or component thereof shall be damaged or destroyed (in whole or in part) at any time during the Lease Term: (i) the Agency shall have no obligation to replace, repair, rebuild, restore or relocate the Facility; (ii) there shall be no abatement or reduction in the amounts payable by the Company under this Lease Agreement, including, without limitation, the PILOT Payments (whether or not the Facility is replaced, repaired, rebuilt, restored or relocated); (iii) the Company shall promptly give written notice thereof to the Agency; if the damage caused to the Facility prevents the Facility or any part of the Facility from being used for its intended purpose; (iv) upon the occurrence of such damage or destruction, if the damage caused to the Facility prevents the Facility or any part of the Facility from being used for its intended purpose, the Net Proceeds derived from the insurance shall be (A) paid to the Company or the Lender, as applicable, for the replacement, repair, rebuilding, restoration or relocation of the Facility as provided in Section 7.1(b) hereof or (B) applied pursuant to Section 7.1(e) hereof; and (v) if with respect to damage caused to the Facility that prevents the Facility or any part of the Facility from being used for its intended purpose the Facility is not replaced, repaired, rebuilt, restored or relocated, as provided herein and in Section 7.1(b) hereof, this Lease Agreement shall be terminated at the option of the Agency and the provisions of Section 7.1(e) hereof shall apply. (b) Any replacements, repairs, rebuilding, restorations or relocations of the Facility by the Company after the occurrence of such damage or destruction shall be subject to the following conditions: (i) the Facility shall be in substantially the same condition and value as an operating entity as existed prior to the damage or destruction; (ii) the Facility shall continue to constitute a “project” as such term is defined in the Act; (iii) the Facility will be subject to no Liens, other than Permitted Encumbrances; and (iv) any other conditions the Agency may reasonably impose. (c) All such repair, replacement, rebuilding, restoration or relocation of the Facility shall be effected with due diligence in a good and workmanlike manner in compliance with all applicable legal requirements, shall be promptly and fully paid for by the Company in accordance with the terms of the applicable contracts (provided that the Company shall be entitled contest payments that it in good faith disputes) and shall automatically become a part of the Facility as if the same were specifically provided herein. (d) In the event such Net Proceeds are not sufficient to pay in full the costs of such repair, replacement, rebuilding, restoration or relocation, the Company shall nonetheless complete the work, or cause the work to be completed pursuant to the terms of this Lease Agreement, and pay from its own moneys, or cause to be paid by such other party as may be obligated for payment that portion of the costs thereof in excess of such Net Proceeds. All such repairs, replacements, rebuilding, restoration or relocations made pursuant to this Section, whether or not requiring the expenditure of the Company’s own money or moneys of any other person, shall automatically become a part of the Facility as if the same were specifically described herein. (e) If the Company shall not repair, replace, rebuild, restore or relocate the Facility, it shall be deemed to have exercised its option to terminate this Lease Agreement pursuant to Section 11.1 hereof. Any Net Proceeds derived from insurance shall be applied to the payment of the amounts required to be paid by Section 11.2 hereof and the balance shall be delivered to the Company. If an Event of Default hereunder shall have occurred and be continuing and the Agency shall have exercised its remedies under Section 10.2 hereof, such Net Proceeds shall be applied to the payment of the amounts required to be paid by Section 10.2 and Section 10.4 hereof. (f) The Agency hereby acknowledges that, if the Mortgage is in effect or the Lender has any interest in the Facility arising under or related to the Mortgage, whether by foreclosure or otherwise, the disposition of the Net Proceeds (with respect only to casualty insurance) resulting from damage or destruction of the Facility shall be controlled by the provisions of the Mortgage.

Damage or Destruction of the Facility. (a) If the Facility or any part or component thereof shall be damaged or destroyed (in whole or in part) at any time during the Lease Term: (i) the Agency shall have no obligation to replace, repair, rebuild, restore or relocate the Facility; (ii) there shall be no abatement or reduction in the amounts payable by the Company under this Lease Agreement, including, without limitation, the PILOT Payments (whether or not the Facility is replaced, repaired, rebuilt, restored or relocated); (iii) the Company shall promptly give written notice thereof to the Agency; (iv) upon the occurrence of such damage or destruction, the Net Proceeds derived from the insurance shall be (A) paid to the Company or the Lender, as applicable, for the replacement, repair, rebuilding, restoration or relocation of the Facility as provided in Section 7.1(b) hereof or (B) applied pursuant to Section 7.1(e) hereof; and (v) if the Facility is not replaced, repaired, rebuilt, restored or relocated, as provided herein and in Section 7.1(b) hereof, this Lease Agreement shall be terminated at the option of the Agency and the provisions of Section 7.1(e) hereof shall apply. (b) Any replacements, repairs, rebuilding, restorations or relocations of the Facility by the Company after the occurrence of such damage or destruction shall be subject to the following conditions: (i) the Facility shall be in substantially the same condition and value as an operating entity as existed prior to the damage or destruction; (ii) the Facility shall continue to constitute a “"project” " as such term is defined in the Act; (iii) the Facility will be subject to no Liens, other than Permitted Encumbrances; and (iv) any other conditions the Agency may reasonably impose. (c) All such repair, replacement, rebuilding, restoration or relocation of the Facility shall be effected with due diligence in a good and workmanlike manner in compliance with all applicable legal requirements, shall be promptly and fully paid for by the Company in accordance with the terms of the applicable contracts and shall automatically become a part of the Facility as if the same were specifically provided herein. (d) In the event such Net Proceeds are not sufficient to pay in full the costs of such repair, replacement, rebuilding, restoration or relocation, the Company shall nonetheless complete the work, or cause the work to be completed pursuant to the terms of this Lease Agreement, and pay from its own moneys, or cause to be paid by such other party as may be obligated for payment that portion of the costs thereof in excess of such Net Proceeds. All such repairs, replacements, rebuilding, restoration or relocations made pursuant to this Section, whether or not requiring the expenditure of the Company’s 's own money or moneys of any other person, shall automatically become a part of the Facility as if the same were specifically described herein. (e) If the Company shall not repair, replace, rebuild, restore or relocate the Facility, it shall be deemed to have exercised its option to terminate this Lease Agreement pursuant to Section 11.1 hereof. Any Net Proceeds derived from insurance shall be applied to the payment of the amounts required to be paid by Section 11.2 hereof and the balance shall be delivered to the Company. If an Event of Default hereunder shall have occurred and the Agency shall have exercised its remedies under Section 10.2 hereof, such Net Proceeds shall be applied to the payment of the amounts required to be paid by Section 10.2 and Section 10.4 hereof.

Damage or Destruction of the Facility. (a1) If the Facility or any part or component thereof shall be damaged or destroyed (in whole or in part) at any time during the Lease Term: (i1) the Agency Issuer shall have no obligation to replace, repair, rebuild, restore or relocate the Facility;; and (ii2) there shall be no abatement or reduction in the amounts payable by the Company Institution under this Lease Agreement, including, without limitation, the PILOT Payments Agreement (whether or not the Facility is replaced, repaired, rebuilt, restored or relocated);; and (iii) the Company shall promptly give written notice thereof to the Agency; (iv3) upon the occurrence of such damage or destruction, the Net Proceeds derived from the insurance shall be paid to the Trustee and deposited in the Renewal Fund and except as otherwise provided in Section 11.1 and subsection (f) hereof, the Institution shall at its option either (A) paid replace, repair, rebuild, restore or relocate the Facility, or (B) redeem a principal amount of Bonds equal to such Net Proceeds in accordance with the Company Indenture. If the Institution replaces, repairs, rebuilds, restores or relocates the LenderFacility, as applicable, the Trustee shall disburse the Net Proceeds from the Renewal Fund in the manner set forth in Section 5.03 of the Indenture to pay or reimburse the Institution for the cost of such replacement, repair, rebuilding, restoration or relocation of the Facility as provided in Section 7.1(b) hereof or (B) applied pursuant to Section 7.1(e) hereof; and (v) if the Facility is not replaced, repaired, rebuilt, restored or relocated, as provided herein and in Section 7.1(b) hereof, this Lease Agreement shall be terminated at the option of the Agency and the provisions of Section 7.1(e) hereof shall applyrelocation. (b2) Any such replacements, repairs, rebuilding, restorations or relocations of the Facility by the Company after the occurrence of such damage or destruction shall be subject to the following conditions: (i1) the Facility shall be in substantially the same condition and value as an operating entity as existed prior to the damage or destructiondestruc- tion; (ii2) the Facility shall continue to constitute a “"project” " as such term is defined in the Act; (iii3) the Facility will be subject to no Liens, other than Permitted Encumbrances; and (iv4) any other conditions the Agency Issuer, the Trustee or the LOC Bank may reasonably impose. (c3) All such repair, replacement, rebuilding, restoration or relocation of the Facility shall be effected with due diligence in a good and workmanlike manner in compliance with all applicable legal requirements, shall requirements and be promptly and fully paid for by the Company Institution in accordance with the terms of the applicable contracts and shall automatically become a part of the Facility as if the same were specifically provided hereincontracts. (d4) In the event such Net Proceeds are not sufficient to pay in full the costs of such replacement, repair, replacement, rebuilding, restoration or relocation, the Company Institution shall nonetheless complete the work, or cause the work to be completed pursuant to the terms of this Lease Agreement, and pay from its own moneys, or cause to be paid by such other party as may be obligated for payment monies that portion of the costs thereof in excess of such Net Proceeds. All such replacements, repairs, replacements, rebuilding, restoration or relocations made pursuant to this Section, whether or not requiring the expenditure of the Company’s Institution's own money or moneys of any other personmoney, shall automatically become a part of the Facility as if the same were specifically described herein. (e5) Any balance of such Net Proceeds remaining in the Renewal Fund after payment of all costs of replacement, repair, rebuilding, restoration or relocation shall be used to redeem the Bonds as provided in the Indenture. (6) If the Company Institution shall not repair, replace, rebuild, restore or relocate the Facility, it shall be deemed to have exercised exercise its option to terminate this Lease Agreement pursuant to Section 11.1 hereof. Any hereof such Net Proceeds derived from insurance shall be applied to the payment of the amounts required to be paid by Section 11.2 hereof and the balance shall be delivered to the Companyhereof. If an Event of Default hereunder shall have occurred and the Agency Trustee or the LOC Bank shall have exercised its remedies under Section 10.2 hereof, hereof such Net Proceeds shall be applied to the payment of the amounts required to be paid by Section 10.2 and Section 10.4 hereof. (7) If the entire amount of the Bonds and interest thereon has been fully paid, or provision therefor has been made in accordance with the Indenture, all such remaining Net Proceeds shall be paid first to the LOC Bank to satisfy any amounts due and owing under the Reimbursement Agreement and second to the Institution. (8) Except upon the occurrence of an Event of Default, the Institution with the consent of the Trustee shall have the right to settle and adjust all claims under any policies of insurance required by Section 6.4(a), (d) and (e) hereof on behalf of the Issuer, the Trustee, and on its own behalf.