Common use of Financing Institution’s Default Rights Clause in Contracts

Financing Institution’s Default Rights. Notwithstanding any contrary term of this Agreement: 11.4.2.1 The Financing Institution, as collateral assignee, shall be entitled to exercise, in the place and stead of Owner, any and all rights and remedies of Owner under this Agreement in accordance with the terms of this Agreement. Financing Institution shall also be entitled to exercise all rights and remedies of secured parties generally with respect to this Agreement and the System. 11.4.2.2 The Financing Institution shall have the right, but not the obligation, to pay all sums due under this Agreement and to perform any other act, duty or obligation required of Owner hereunder or cause to be cured any default of Owner hereunder in the time and manner provided by the terms of this Agreement plus an additional fifteen (15) business days. Nothing herein requires the Financing Institution to cure any default of Owner under this Agreement or (unless the Financing Institution has succeeded to Owner's interests under this Agreement) to perform any act, duty or obligation of Owner under this Agreement, but Utility hereby gives it the option to do so. 11.4.2.3 Upon the exercise of remedies under its security interest in the System, including any sale thereof by the Financing Institution, whether by judicial proceeding or under any power of sale contained therein, or any conveyance from Owner to the Financing Institution (or any qualified assignee of the Financing Institution as defined below) in lieu thereof, the Financing Institution shall give notice to Utility of the transferee or assignee of this Agreement. Any such exercise of remedies shall not constitute a default under this Agreement.

Financing Institution’s Default Rights. Notwithstanding any contrary term of this Agreement: 11.4.2.1 The Financing Institution, as collateral assignee, shall be entitled to exercise, in the place and stead of Owner, any and all rights and remedies of Owner under this Agreement in accordance with the terms of this Agreement. Financing Institution shall also be entitled to exercise all rights and remedies of secured parties generally with respect to this Agreement and the System. 11.4.2.2 The Financing Institution shall have the right, but not the obligation, to pay all sums due under this Agreement and to perform any other act, duty duty, or obligation required of Owner hereunder or cause to be cured any default of Owner hereunder in the time and manner provided by the terms of this Agreement plus an additional fifteen (15) 15 business days. Nothing herein requires the Financing Institution to cure any default of Owner under this Agreement or (unless the Financing Institution has succeeded to Owner's interests under this Agreement) to perform any act, duty duty, or obligation of Owner under this Agreement, but Utility hereby gives it the option to do so. 11.4.2.3 Upon the exercise of remedies under its security interest in the System, including any sale thereof by the Financing Institution, whether by judicial proceeding or under any power of sale contained therein, or any conveyance from Owner to the Financing Institution (or any qualified assignee of the Financing Institution as defined below) in lieu thereof, the Financing Institution shall give notice to Utility of the transferee or assignee of this Agreement. Any such exercise of remedies shall not constitute a default under this Agreement.

Financing Institution’s Default Rights. Notwithstanding any contrary term of this Agreement: 11.4.2.1 i. The Financing Institution, as collateral assignee, shall be entitled to exercise, in the place and stead of Owner, any and all rights and remedies of Owner under this Agreement in accordance with the terms of this Agreement. Financing Institution shall also be entitled to exercise all rights and remedies of secured parties generally with respect to this Agreement and the System.. DocuSign Envelope ID: 5CA629B0-2E54-4CD2-81B4-0FCD98581FCB 11.4.2.2 ii. The Financing Institution shall have the right, but not the obligation, to pay all sums due under this Agreement and to perform any other act, duty or obligation required of Owner hereunder or cause to be cured any default of Owner hereunder in the time and manner provided by the terms of this Agreement plus an additional fifteen (15) business days. Nothing herein requires the Financing Institution to cure any default of Owner under this Agreement or (unless the Financing Institution has succeeded to Owner's ’s interests under this Agreement) to perform any act, duty or obligation of Owner under this Agreement, but Utility Utilities hereby gives it the option to do so. 11.4.2.3 iii. Upon the exercise of remedies under its security interest in the System, including any sale thereof by the Financing Institution, whether by judicial proceeding or under any power of sale contained therein, or any conveyance from Owner to the Financing Institution (or any qualified assignee of the Financing Institution as defined below) in lieu thereof, the Financing Institution shall give notice to Utility Utilities of the transferee or assignee of this Agreement. Any such exercise of remedies shall not constitute a default under this Agreement.

Financing Institution’s Default Rights. Notwithstanding any contrary term of this Agreement: 11.4.2.1 The Financing Institution, as collateral assignee, shall be entitled to exercise, in the place and stead of Owner, any and all rights and remedies of Owner under this Agreement in accordance with the terms of this Agreement. Financing Institution shall also be entitled to exercise all rights and remedies of secured parties generally with respect to this Agreement and the System. 11.4.2.2 The Financing Institution shall have the right, but not the obligation, to pay all sums due under this Agreement and to perform any other act, duty or obligation required of Owner hereunder or cause to be cured any default of Owner hereunder in the time and manner provided by the terms of this Agreement plus an additional fifteen (15) business days. Nothing herein requires the Financing Institution to cure any default of Owner under this Agreement or (unless the Financing Institution has succeeded to Owner's ’s interests under this Agreement) to perform any act, duty or obligation of Owner under this Agreement, but Utility Utilities hereby gives it the option to do so. 11.4.2.3 Upon the exercise of remedies under its security interest in the System, including any sale thereof by the Financing Institution, whether by judicial proceeding or under any power of sale contained therein, or any conveyance from Owner to the Financing Institution (or any qualified assignee of the Financing Institution as defined below) in lieu thereof, the Financing Institution shall give notice to Utility Utilities of the transferee or assignee of this Agreement. Any such exercise of remedies shall not constitute a default under this Agreement.

Financing Institution’s Default Rights. Notwithstanding any contrary term of this Agreement: 11.4.2.1 i. The Financing Institution, as collateral assignee, shall be entitled to exercise, in the place and stead of Owner, any and all rights and remedies of Owner under this Agreement in accordance with the terms of this Agreement. Financing Institution shall also be entitled to exercise all rights and remedies of secured parties generally with respect to this Agreement and the System. 11.4.2.2 ii. The Financing Institution shall have the right, but not the obligation, to pay all sums due under this Agreement and to perform any other act, duty or obligation required of Owner hereunder or cause to be cured any default of Owner hereunder in the time and manner provided by the terms of this Agreement plus an additional fifteen (15) business daysAgreement. Nothing herein requires the Financing Institution to cure any default of Owner under this Agreement or (unless the Financing Institution has succeeded to Owner's ’s interests under this Agreement) to perform any act, duty or obligation of Owner under this Agreement, but Utility Utilities hereby gives it the option to do so. 11.4.2.3 iii. Upon the exercise of remedies under its security interest in the System, including any sale thereof by the Financing Institution, whether by judicial proceeding or under any power of sale contained therein, or any conveyance from Owner to the Financing Institution (or any qualified assignee Qualified Assignee of the Financing Institution as defined below) in lieu thereof, the Financing Institution shall give notice to Utility Utilities of the transferee or assignee of this Agreement. Any such exercise of remedies shall not constitute a default under this Agreement.

Financing Institution’s Default Rights. Notwithstanding any contrary term of this Agreement: 11.4.2.1 i. The Financing Institution, as collateral assignee, shall be entitled to exercise, in the place and stead of Owner, any and all rights and remedies of Owner under this Agreement in accordance with the terms of this Agreement. Financing Institution shall also be entitled to exercise all rights and remedies of secured parties generally with respect to this Agreement and the System. 11.4.2.2 ii. The Financing Institution shall have the right, but not the obligation, to pay all sums due under this Agreement and to perform any other act, duty or obligation required of Owner hereunder or cause to be cured any default of Owner hereunder in the time and manner provided by the terms of this Agreement plus an additional fifteen (15) business days. Nothing herein requires the Financing Institution to cure any default of Owner under this Agreement or (unless the Financing Institution has succeeded to Owner's ’s interests under this Agreement) to perform any act, duty or obligation of Owner under this Agreement, but Utility Utilities hereby gives it the option to do so. 11.4.2.3 iii. Upon the exercise of remedies under its security interest in the System, including any sale thereof by the Financing Institution, whether by judicial proceeding or under any power of sale contained therein, or any conveyance from Owner to the Financing Institution (or any qualified assignee of the Financing Institution as defined below) in lieu thereof, the Financing Institution shall give notice to Utility Utilities of the transferee or assignee of this Agreement. Any such exercise of remedies shall not constitute a default under this Agreement.