Common use of Judicial Council Option to Retain System on Licensee default Clause in Contracts

Judicial Council Option to Retain System on Licensee default. In the event that (i) this SLA is terminated by the default of Licensee, or (ii) Licensee is in default under its security agreements(s) with the Lender or System Lessor and Lender or System Lessor exercises remedies thereunder, and in either case, the Lender elects to not take actions that would allow the Judicial Council, within one hundred and eighty (180) calendar days after the Judicial Council has ceased receiving electricity from the System as a consequence of the foregoing, to receive electricity generated by the System on the terms set forth in this SLA or the SPPA, then Judicial Council may treat the System as abandoned and may either require Licensee to undertake removal and restoration in accordance with Section 11.1 or, if Licensee fails to so remove the System from the Licensed Area, retain the System for its own use free and clear of any claims by Licensee, Lender or System Lessor.

Judicial Council Option to Retain System on Licensee default. In the event that (i) this SLA is terminated by the default of Licensee, or (ii) Licensee is in default under its security agreements(s) with the Lender or System Lessor and Lender or System Lessor exercises remedies thereunder, and in either case, the Lender elects to not take actions that would allow the Judicial Council, within one hundred and eighty (180) calendar days after the Judicial Council has ceased receiving electricity from the System as a consequence of the foregoing, to receive electricity generated by the System on the terms set forth in this SLA or the SPPALease, then Judicial Council may treat the System as abandoned and may either require Licensee to undertake removal and restoration in accordance with Section 11.1 or, if Licensee fails to so remove the System from the Licensed Area, retain the System for its own use free and clear of any claims by Licensee, Lender or System Lessor.

Judicial Council Option to Retain System on Licensee default. In the event that (i) this SLA is terminated by the default of Licensee, or (ii) Licensee is in default under its security agreements(s) with the Lender or System Lessor and Lender or System Lessor exercises remedies thereunder, and in either case, the Lender elects to not take actions that would allow the Judicial Council, within one hundred and eighty (180) calendar days after the Judicial Council has ceased receiving electricity from the System as a consequence of the foregoing, to receive electricity generated by the System on the terms set forth in this SLA or the SPPALease, then Judicial Council may treat the System as abandoned and may either require Licensee to undertake removal and restoration in accordance with Section section 11.1 or, if Licensee fails to so remove the System from the Licensed Area, retain the System for its own use free and clear of any claims by Licensee, Lender Lender, or System Lessor.