Common use of Financing for Permitted Capital Improvements and Additional Lines Clause in Contracts

Financing for Permitted Capital Improvements and Additional Lines. (i) Except as set forth in Section 10.1(d)(ii), Tenant shall at all times have the right to finance any Permitted Capital Improvements and Additional Lines with a third party, regardless of whether the same are Separable Additions or Non-Separable Additions, without Landlord’s consent; provided, however, that Tenant will notify Landlord in advance of entering into any such financing secured by a Lien on such Permitted Capital Improvements and Additional Lines (as applicable) and give Landlord an opportunity to make a proposal (non-binding on Tenant) to pay for, and engage Tenant as Landlord’s construction agent for, such Permitted Capital Improvements and Additional Lines (as applicable). If requested by Tenant, Landlord agrees to cooperate in good faith with Tenant in the financing of any such Permitted Capital Improvements and Additional Lines (as applicable) that Tenant deems to be necessary or desirable for the operation of the Leased Property or the Tenant Other Activities.

Appears in 3 contracts

Samples: Purchase and Sale Agreement (Energy XXI LTD), Purchase and Sale Agreement (CorEnergy Infrastructure Trust, Inc.), Connection and Access Agreement (CorEnergy Infrastructure Trust, Inc.)

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Financing for Permitted Capital Improvements and Additional Lines. (i) Except as set forth in Section 10.1(d)(ii)) , Tenant shall at all times have the right to finance any Permitted Capital Improvements and Additional Lines with a third party, regardless of whether the same are Separable Additions or Non-Separable Additions, without Landlord’s consent; providedprovided , howeverhowever , that Tenant will notify Landlord in advance of entering into any such financing secured by a Lien on such Permitted Capital Improvements and Additional Lines (as applicable) and give Landlord an opportunity to make a proposal (non-binding on Tenant) to pay for, and engage Tenant as Landlord’s construction agent for, such Permitted Capital Improvements and Additional Lines (as applicable). If requested by Tenant, Landlord agrees to cooperate in good faith with Tenant in the financing of any such Permitted Capital Improvements and Additional Lines (as applicable) that Tenant deems to be necessary or desirable for the operation of the Leased Property or the Tenant Other Activities.

Appears in 1 contract

Samples: Connection and Access Agreement (Energy XXI LTD)

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