Election to Surrender Sample Clauses

Election to Surrender. The Ground Lessee may, so long as the Lien of the Lease Indenture has been discharged in accordance with the terms thereof, elect to surrender the Ground Interest and transfer this Facility Site Lease to the Ground Lessor at any time following the expiration or termination of the Site Sublease Term upon payment of $1.00 to the Ground Lessor, subject to the rights set forth in Section 2.7, without representation or warranty other than a warranty as to the absence of Owner Lessor Liens accompanied by a warranty of the Owner Participant as to the absence of Owner Participant Liens. Upon such surrender, all obligations and liabilities of the Ground Lessee hereunder arising after such surrender, including its obligation to make rental payments hereunder, but subject to the rights set forth in Section 2.7 hereof, shall automatically be assumed by the Ground Lessor and the Ground Lessee shall be automatically released therefrom.

Election to Surrender. The Ground Lessee may, so long as the Lien of the Lease Indenture shall have been discharged in accordance with its terms, elect to surrender the Ground Interest and transfer this Site Lease to the Ground Lessor at any time following the expiration or early termination of the Site Sublease Term upon payment of $1.00 to the Ground Lessor, without representation or warranty other than a warranty as to the absence of Owner Lessor's Liens and a warranty of the Owner Participant as to the absence of Owner Participant's Liens, but without any other liability or cost to the Ground Lessee. Upon such surrender, all other obligations and liabilities of the Ground Lessee hereunder, including its obligation to make rental payments hereunder, shall automatically be assumed by the Ground Lessor and the Ground Lessee shall be automatically released therefrom, except, in the case of Section 11, for amounts which have accrued prior to such termination and except that the Ground Lessee shall transfer to the Ground Lessor, by an instrument to be prepared by the Ground Lessor at its expense and in a form reasonably satisfactory to the Ground Lessee to be duly recorded at the Ground Lessor's expense with the Orange County Clerks Office, Orange County, New York, all Ground Lessee's right, title and interest in and to this Site Lease.

Election to Surrender. The Ground Lessee may, so long as the lien of the Lease Indenture shall have been discharged in accordance with its terms, elect to surrender the Ground Interest and transfer this Site Lease and Sublease to the Ground Lessor at any time following the expiration or early termination of the Site Sublease Term upon payment of $1.00 to the Ground Lessor, without representation or warranty other than a warranty as to the absence of Owner Lessor's Liens and a warranty of the Owner Participant as to the absence of Owner Participant's Liens, but without any other liability or cost to the Ground Lessee. Upon such surrender, all other obligations and liabilities of the Ground Lessee hereunder, including its obligation to make rental payments hereunder, shall automatically be assumed by the Ground Lessor and the Ground Lessee shall be automatically released therefrom, except that the Ground Lessee shall transfer to the Ground Lessor, by an instrument to be prepared by the Ground Lessor at its expense and in a form reasonably satisfactory to the Ground Lessee to be duly recorded at the Ground Lessor's expense with the Clerk and Recorder of Rosebud County, Montana, all Ground Lessee's right, title and interest in and to this Site Lease and Sublease.

Election to Surrender. The Ground Lessee may, so long as the Lien of the Indenture shall have been terminated or discharged in accordance with its terms, elect to surrender the Ground Interest and transfer this Site Lease to the Ground Lessor at any time following the expiration or early termination of the Facility Lease upon payment of $1.00 to the Ground Lessor, and in accordance with Section 2.4, but without any other liability or cost to the Ground Lessee. Upon such surrender, all other obligations and liabilities of the Ground Lessee hereunder, including its obligation to make rental payments hereunder, shall automatically be assumed by the Ground Lessor and the Ground Lessee shall be automatically released therefrom, except as otherwise set forth in Section 11 and except that the Ground Lessee shall transfer to the Ground Lessor, by an instrument to be prepared by the Ground Lessor at its expense and in a form reasonably satisfactory to the Ground Lessee to be duly recorded at the Ground Lessor's expense with the Register's Office, Queens County, New York, all of the Ground Lessee's right, title and interest in and to this Site Lease.