Common use of Leased Equipment Clause in Contracts

Leased Equipment. To the extent that applicable law allows or is revised or construed to allow the benefits of the Simple Fee Act, in the form of FILOT payments as described in Section 4.1 hereof, to be applicable to personal property to be installed at the Project and leased to but not purchased by the Company from at least one third party, under any form of lease, then that personal property, at the Company’s sole election, will become subject to FILOT payments to the same extent as the Equipment under this Fee Agreement, upon proper application of the law and applicable procedures by the Company, and so long as the value of such leased assets are reported by the Company SCDOR PT-300.

Leased Equipment. To the extent that applicable law allows or is revised or construed to allow the benefits of the Simple Simplified Fee Act, in the form of FILOT payments as described in Section Section 4.1 hereof, to be applicable to personal property to be installed at the Project and leased to but not purchased by the Company from at least one third party, under any form of lease, then that personal property, at the Company’s sole election, will become subject to FILOT payments to the same extent as the Equipment under this Fee Agreement, upon proper application of the law and applicable procedures by the Company, and so long as the value of such leased assets are reported by the Company SCDOR PT-300PT- 300.

Leased Equipment. To the extent that applicable law allows or is revised or construed to allow the benefits of the Simple Simplified Fee Act, in the form of FILOT payments as described in Section 4.1 hereof, to be applicable to personal property to be installed at the Project and leased to but not purchased by the Company from at least one third party, under any form of lease, then that personal property, at the Company’s sole election, will become subject to FILOT payments to the same extent as the Equipment under this Fee Agreement, upon proper application of the law and applicable procedures by the Company, and so long as the value of such leased assets are reported by the Company SCDOR PT-300PT- 300.