Common use of Financing Party’s Rights Following Default Clause in Contracts

Financing Party’s Rights Following Default. Notwithstanding any contrary term of this Agreement: (a) Financing Party, as collateral assignee, shall be entitled to exercise, in the place and stead of Seller, any and all rights and remedies of Seller under this Agreement in accordance with the terms of this Agreement. Financing Party shall also be entitled to exercise all rights and remedies of secured parties generally with respect to this Agreement and the System. (b) Financing Party 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 Seller hereunder or cause to be cured any default or event of default of Seller in the time and manner provided by the terms of this Agreement. Nothing herein requires Financing Party to cure any default of Seller (unless Financing Party has succeeded to Seller’s interests) to perform any act, duty, or obligation of Seller, but Purchaser hereby gives Financing Party the option to do so. (c) Upon the exercise of remedies under its security interest in the System, including any sale thereof by Financing Party, whether by judicial proceeding or under any power of sale, or any conveyance from Seller to Financing Party, Financing Party shall give notice to Purchaser of the transferee or assignee of this Agreement. Any such exercise of remedies shall not constitute a Seller Event of Default. (d) Upon any rejection or other termination of this Agreement pursuant to any process undertaken with respect to Seller under the United States Bankruptcy Code, at the request of Financing Party made within ninety (90) days of such termination or rejection, Purchaser shall enter into a new power purchase agreement with Financing Party or its assignee on substantially the same terms as this Agreement.

Financing Party’s Rights Following Default. Notwithstanding any contrary term of this Agreement: (a) Financing Party, as collateral assignee, shall be entitled to exercise, in the place and stead of SellerLessee, any and all rights and remedies of Seller Lessee under this Agreement in accordance with the terms of this Agreement. Financing Party shall also be entitled to exercise all rights and remedies of secured parties generally with respect to this Agreement and the System. Financing Party shall, as a condition of this Lease, Perform all obligations of Lessee pursuant to the Solar Power Purchase Agreement. (b) Financing Party 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 Seller Lessee hereunder or cause to be cured any default or event of default of Seller Lessee in the time and manner provided by the terms of this Agreement. Nothing herein requires Financing Party to cure any default of Seller Xxxxxx (unless Financing Party has succeeded to SellerXxxxxx’s interests) to perform any act, duty, or obligation of SellerLessee, but Purchaser Lessor hereby gives Financing Party the option to do so. (c) Upon the exercise of remedies under its security interest in the System, including any sale thereof by Financing Party, whether by judicial proceeding or under any power of sale, or any conveyance from Seller Lessee to Financing Party, Financing Party shall give notice to Purchaser Lessor of the transferee or assignee of this Agreement. Any such exercise of remedies shall not constitute a Seller Event of Lessee Default. (d) Upon any rejection or other termination of this Agreement pursuant to any process undertaken with respect to Seller Lessee under the United States Bankruptcy Code, at the request of Financing Party made within ninety (90) days of such termination or rejection, Purchaser Lessor shall enter into a new power purchase site lease agreement with Financing Party or its assignee on substantially the same terms as this Agreement.

Financing Party’s Rights Following Default. Notwithstanding any contrary term of this AgreementLease: (a) Financing Party, as collateral assignee, shall be entitled to exercise, in the place and stead of SellerLessee, any and all rights and remedies of Seller Lessee under this Agreement Lease in accordance with the terms of this AgreementLease. Financing Party shall also be entitled to exercise all rights and remedies of secured parties generally with respect to this Agreement Lease and the System. (b) Financing Party shall have the right, but not the obligation, to pay all sums due under this Agreement Lease and to perform any other act, duty, or obligation required of Seller Lessee hereunder or cause to be cured any default or event of default of Seller Lessee in the time and manner provided by the terms of this AgreementLease. Nothing herein requires Financing Party to cure any default of Seller Xxxxxx (unless Financing Party has succeeded to SellerXxxxxx’s interests) to perform any act, duty, or obligation of SellerLessee, but Purchaser Lessor hereby gives Financing Party the option to do so. (c) Upon the exercise of remedies under its security interest in the System, including any sale thereof by Financing Party, whether by judicial proceeding or under any power of sale, or any conveyance from Seller Lessee to Financing Party, Financing Party shall give notice to Purchaser Lessor of the transferee or assignee of this AgreementLease. Any such exercise of remedies shall not constitute a Seller Event of Lessee Default. (d) Upon any rejection or other termination of this Agreement Lease pursuant to any process undertaken with respect to Seller Lessee under the United States Bankruptcy Code, at the request of Financing Party made within ninety (90) days of such termination or rejection, Purchaser Lessor shall enter into a new power purchase site lease agreement with Financing Party or its assignee on substantially the same terms as this AgreementLease.

Financing Party’s Rights Following Default. Notwithstanding any contrary term of this Agreement: (a) Financing Party, as collateral assignee, shall be entitled to exercise, in the place and stead of SellerLessee, any and all rights and remedies of Seller Lessee under this Agreement in accordance with the terms of this Agreement. Financing Party shall also be entitled to exercise all rights and remedies of secured parties generally with respect to this Agreement and the System. (b) Financing Party 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 re- quired of Seller Lessee hereunder or cause to be cured any default or event of default of Seller Lessee in the time and manner provided by the terms of this Agreement. Nothing herein requires Financing Party to cure any default of Seller Lessee (unless Financing Party has succeeded to SellerLessee’s interests) to perform any act, duty, or obligation of SellerLessee, but Purchaser Lessor hereby gives Financing Party the option to do so. (c) Upon the exercise of remedies under its security interest in the SystemSys- tem, including any sale thereof by Financing Party, whether by judicial proceeding or under any power of sale, or any conveyance from Seller Lessee to Financing Party, Financing Party shall give notice to Purchaser Lessor of the transferee or assignee of this Agreement. Any such exercise ex- ercise of remedies shall not constitute a Seller Event of Lessee Default. (d) Upon any rejection or other termination of this Agreement pursuant to any process undertaken with respect to Seller Lessee under the United States Bankruptcy Code, at the request of Financing Party made within ninety (90) days of such termination or rejectionre- jection, Purchaser Lessor shall enter into a new power purchase site lease agreement with Financing Party or its assignee as- signee on substantially the same terms as this Agreement.

Financing Party’s Rights Following Default. Notwithstanding any contrary term of this Agreement: (a) Financing Party, as collateral assignee, shall be entitled to exercise, in the place and stead of Seller, any and all rights and remedies of Seller under this Agreement in accordance with the terms of this Agreement. Financing Party shall also be entitled to exercise all rights and remedies of secured parties generally with respect to this Agreement and the SystemSystems. (b) Financing Party 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 Seller hereunder or cause to be cured any default or event of default of Seller in the time and manner provided by the terms of this Agreement. Nothing herein requires Financing Party to cure any default of Seller (unless Financing Party has succeeded to Seller’s interests) to perform any act, duty, or obligation of Seller, but Purchaser hereby gives Financing Party the option to do so. (c) Upon the exercise of remedies under its security interest in the System, including any sale thereof by Financing Party, whether by judicial proceeding or under any power of sale, or any conveyance from Seller to Financing Party, Financing Party shall give notice to Purchaser of the transferee or assignee of this Agreement. Any such exercise of remedies shall not constitute a Seller Event of Default. (d) Upon any rejection or other termination of this Agreement pursuant to any process undertaken with respect to Seller under the United States Bankruptcy Code, at seller shall forfeit all assets and rights to the request of Financing Party made within ninety (90) days of such termination or rejection, Purchaser shall enter into a new power purchase agreement with Financing Party or its assignee on substantially the same terms as this Agreementequipment.