Early Termination Event. (a) In the event the Generating Station is no longer owned or leased by an affiliate of MAEM, this Agreement shall automatically terminate, without penalty and without any further action required by either Party, as of the effective date of the transfer of ownership or termination of the lease of the Generating Station. (b) In the event lenders or lessors exercise remedies following a Facility Lease Event of Default, Project Company may terminate this Agreement, without penalty, upon written notice to MAEM. (c) Either Party may terminate this Agreement upon sixty (60) days written notice to the other Party.
Appears in 4 contracts
Samples: Power Sale, Fuel Supply and Services Agreement (Mirant Mid Atlantic LLC), Power Sale, Fuel Supply and Services Agreement (Mirant Americas Generating LLC), Power Sale, Fuel Supply and Services Agreement (Mirant Mid Atlantic LLC)
Early Termination Event. (a) In the event the Generating Station is no longer owned or leased by an affiliate of MAEM, this Agreement shall automatically terminate, without penalty and without any further action required by either Party, as of the effective date of the transfer of ownership or termination of the lease of the Generating Station.
(b) In the event lenders or lessors exercise remedies following a Facility Lease Event of Default, Project Company may terminate this Agreement, without penalty, upon written notice to MAEM.
(c) Either Party may terminate this Agreement upon sixty thirty (6030) days written notice to the other Party.
Appears in 3 contracts
Samples: Power Sale, Fuel Supply and Services Agreement (Mirant Mid Atlantic LLC), Power Sale, Fuel Supply and Services Agreement (Mirant Mid Atlantic LLC), Power Sale, Fuel Supply and Services Agreement (Mirant Mid Atlantic LLC)
Early Termination Event. (a) In the event the a Generating Station is no longer owned or leased by an affiliate of MAEM, this Agreement shall automatically terminateterminate with respect to such Generating Station, without penalty and without any further action required by either Party, as of the effective date of the transfer of ownership or termination of the lease of the Generating Station.
(b) In the event lenders or lessors exercise remedies following a Facility Lease Event of Default, Project Company may terminate this Agreement, without penalty, upon written notice to MAEM.
(c) Either Party may terminate this Agreement upon sixty (60) days written notice to the other Party.
Appears in 2 contracts
Samples: Power Sale, Fuel Supply and Services Agreement (Mirant Americas Generating LLC), Power Sale, Fuel Supply and Services Agreement (Mirant Mid Atlantic LLC)
Early Termination Event. (a) In the event the a Generating Station is no longer owned or leased by an affiliate of MAEM, this Agreement shall automatically terminateterminate with respect to such Generating Station, without penalty and without any further action required by either Party, as of the effective date of the transfer of ownership or termination of the lease of the Generating Station.
(b) In the event lenders or lessors exercise remedies following a Facility Lease Event of Default, Project Company may terminate this Agreement, without penalty, upon written notice to MAEM.
(c) Either Party may terminate this Agreement upon sixty thirty (6030) days written notice to the other Party.
Appears in 1 contract
Samples: Power Sale, Fuel Supply and Services Agreement (Mirant Mid Atlantic LLC)
