Good Standing Purchase Option. At the end of the Initial Term and each Extension Term, and at the beginning of Contract Year 7, 10, and Contract Year 25 (each such date, an “Option Purchase Date”), so long as Customer is not in default under this Agreement, Customer may purchase the System from Seller on any such Option Purchase Date for the applicable Good Standing Purchase Price. Customer must provide a notification to Seller (the “Option Exercise Notice”) of its intent to purchase at least 90 days and not more than 180 days prior to the applicable Option Purchase Date, and the purchase shall be completed prior to or effective as of such Option Purchase Date. Any such purchase shall be on an “AS-IS, WHERE-IS” basis, and Seller shall not provide any warranty or other guarantee regarding the performance of the System; provided, however, that Seller shall assign to Customer any manufacturers’ warranties that are in effect as of the purchase, and which are assignable pursuant to their terms.
Appears in 5 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
