Common use of Granting of Easements Clause in Contracts

Granting of Easements. If no Event of Default under this Agreement has occurred and is continuing, the Company may, with the prior written consent of the Bank and notwithstanding anything contained in this Agreement to the contrary, at any time or times, grant easements, licenses, rights of way and other rights or privileges in the nature of easements with respect to any property included in the Project Facilities, or release existing easements, licenses, rights of way and other rights or privileges, all with or without consideration and upon such terms and conditions as the Company shall determine. The Issuer agrees that it will execute and deliver or will cause the execution and delivery of, and will cause and direct the Trustee to execute and deliver, any instrument necessary or appropriate to confirm and grant or release any such easement, license, right of way or other right or privilege, upon receipt by the Issuer and the Trustee of: A. A copy of the instrument of grant or release; B. A written application signed by the Company requesting such instrument; and C. A certificate executed by the Company, and such other persons as the Issuer may reasonably require, stating that such grant or release is not detrimental to the proper conduct of the business of the Company, and that such grant or release will not impair the effective use or interfere with the efficient and economical operation of the Project Facilities.

Granting of Easements. If no Event of Default under this Base Lease Agreement has occurred shall have happened and is be continuing, the Company may, with the prior written consent of the Bank and notwithstanding anything contained in this Agreement to the contraryextent permitted under the Bond Indenture, at any time or times, times (a) grant easements, licenses, rights of rights-of-way and other rights or privileges in the nature of easements with respect to any property included in the Project FacilitiesProject, or (b) release existing easements, licenses, rights of rights-of-way and other rights or privileges, all with or without consideration and upon such terms and conditions as the Company shall determine. The Issuer agrees that it will execute and deliver or will cause the execution and delivery of, and will cause and direct the Bond Trustee to execute and deliver, deliver any instrument necessary or appropriate to confirm and grant or release any such easement, license, right of right-of-way or other right or privilegeprivilege or any such agreement or other arrangement, upon receipt by the Issuer and the Bond Trustee of: A. A of (i) a copy of the instrument of grant or release; B. A release or of the agreement or other arrangement, (ii) a written application signed by the Company Representative requesting such instrument; and C. A , and (iii) a certificate executed by the Company, and such other persons as the Issuer may reasonably require, Company Representative stating that such grant or release is not detrimental to the proper conduct of the business of the Company, and that such grant or release is permitted by the Bond Indenture, will not impair the effective use or interfere with the efficient and economical operation of the Project FacilitiesProject, and will not materially adversely affect the security intended to be given by or under the Bond Indenture.