Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.1, the Generator, from time to time on or after the date of this Agreement shall have the right, at its cost, to enter into a Secured Lender's Security Agreement. For greater certainty, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's Security Agreement as the Secured Lender on behalf of the Lenders. A Secured Lender's Security Agreement shall be based upon and subject to the following conditions: (a) A Secured Lender's Security Agreement may be made for any amounts and upon any terms (including terms of the loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the Generator, except as otherwise provided in this Agreement and the Lender Consent. (b) A Secured Lender's Security Agreement may not secure any indebtedness, liability or obligation of the Generator that is not related to the Facility or cover any real or personal property of the Generator not related to the Facility. For greater certainty, a Secured Lender's Security Agreement may cover shares or partnership interests in the capital of the Generator. (c) The AESO shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO for any or all of the same. (d) No Secured Lender's Security Agreement shall be recognized by the AESO nor have status as such hereunder in the enforcement of the AESO's rights and remedies provided in this Agreement or by Applicable Law, unless and until: (i) a copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent have been delivered to the AESO by the Generator or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's Security Agreement, such assignment shall not be recognized by the AESO nor shall the assignee thereunder have the status of a Secured Lender hereunder unless and until: (iii) a copy thereof and the registration details, if applicable, together with written notice of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO by the Generator or the Secured Lender, and
Appears in 3 contracts
Samples: Renewable Electricity Support Agreement, Renewable Electricity Support Agreement, Renewable Electricity Support Agreement
Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.116.5, the GeneratorSupplier, from time to time on or after the date of execution of this Agreement shall have the right, at its cost, to enter into a Secured Lender's ’s Security Agreement. For greater certaintythe avoidance of doubt, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenderslenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's ’s Security Agreement as the Secured Lender on behalf of the Lenderslenders. A Secured Lender's ’s Security Agreement shall be based upon and subject to the following conditions:
(a) A Secured Lender's ’s Security Agreement may be made in respect of obligations for any amounts and upon subject to any terms (including terms of the applicable loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the GeneratorSupplier, except as otherwise provided in this Agreement and the Lender Consent.
(b) Agreement. A Secured Lender's ’s Security Agreement may not secure any indebtedness, liability or obligation of the Generator that is not Supplier, whether exclusively related to the Facility or otherwise, and may cover any real or personal property of the Generator not related in addition to the FacilitySupplier’s Interest. For greater certainty, a Secured Lender's ’s Security Agreement may cover shares or partnership interests in the capital of the GeneratorSupplier.
(cb) The AESO Buyer shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's ’s Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO Buyer for any or all of the same.
(dc) No Secured Lender's ’s Security Agreement shall be recognized by the AESO nor have status as such Buyer or give rise to any rights hereunder in the enforcement of the AESO's Buyer’s rights and remedies provided in this Agreement or by Applicable LawLaws and Regulations, unless and until: (i) a until an electronic copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's ’s Security Agreement, such assignment shall not be recognized by the AESO nor shall the Buyer or establish any rights hereunder in favour of such assignee thereunder have the status of a Secured Lender hereunder unless and until: (iii) until a copy thereof and the registration details, if applicable, together with written notice of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender.
(d) If the Supplier is in default under or pursuant to the Secured Lender’s Security Agreement and the Secured Lender intends to exercise any rights afforded to the Secured Lender under this Agreement, andthen the Secured Lender shall give written notice of such default to the Buyer at least ten (10) Business Days prior to exercising any such rights.
(e) Any Secured Lender’s Security Agreement permitted hereunder may secure two
Appears in 2 contracts
Samples: E Lt 1 Contract, E Lt 1 Contract
Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.1, the Generator, from time to time on or after the date of this Agreement shall have the right, at its cost, to enter into a Secured Lender's Security Agreement. For greater certainty, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's Security Agreement as the Secured Lender on behalf of the Lenders. A Secured Lender's Security Agreement shall be based upon and subject to the following conditions:
(a) A Secured Lender's Security Agreement may be made for any amounts and upon any terms (including terms of the loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the Generator, except as otherwise provided in this Agreement and the Lender Consent.
(b) A Secured Lender's Security Agreement may not secure any indebtedness, liability or obligation of the Generator that is not related to the Facility or cover any real or personal property of the Generator not related to the Facility. For greater certainty, a Secured Lender's Security Agreement may cover shares or partnership interests in the capital of the Generator.
(c) The AESO shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO for any or all of the same.
(d) No Secured Lender's Security Agreement shall be recognized by the AESO nor have status as such hereunder in the enforcement of the AESO's rights and remedies provided in this Agreement or by Applicable Law, unless and until: (i) a copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent have been delivered to the AESO by the Generator or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's Security Agreement, such assignment shall not be recognized by the AESO nor shall the assignee thereunder have the status of a Secured Lender hereunder unless and until: (iii) a copy thereof and the registration details, if applicable, together with written notice of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO by the Generator or the Secured Lender, and
Appears in 2 contracts
Samples: Renewable Electricity Support Agreement, Renewable Electricity Support Agreement
Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.116.5, the GeneratorSupplier, from time to time on or after the date of execution of this Agreement shall have the right, at its cost, to enter into a Secured Lender's ’s Security Agreement. For greater certaintythe avoidance of doubt, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenderslenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's ’s Security Agreement as the Secured Lender on behalf of the Lenderslenders. A Secured Lender's ’s Security Agreement shall be based upon and subject to the following conditions:: Draft
(a) A Secured Lender's ’s Security Agreement may be made in respect of obligations for any amounts and upon subject to any terms (including terms of the applicable loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the GeneratorSupplier, except as otherwise provided in this Agreement and the Lender Consent.
(b) Agreement. A Secured Lender's ’s Security Agreement may not secure any indebtedness, liability or obligation of the Generator that is not Supplier, whether exclusively related to the Facility or otherwise, and may cover any real or personal property of the Generator not related in addition to the FacilitySupplier’s Interest. For greater certainty, a Secured Lender's ’s Security Agreement may cover shares or partnership interests in the capital of the GeneratorSupplier.
(cb) The AESO Buyer shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's ’s Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO Buyer for any or all of the same.
(dc) No Secured Lender's ’s Security Agreement shall be recognized by the AESO nor have status as such Buyer or give rise to any rights hereunder in the enforcement of the AESO's Buyer’s rights and remedies provided in this Agreement or by Applicable LawLaws and Regulations, unless and until: (i) a until an electronic copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's ’s Security Agreement, such assignment shall not be recognized by the AESO nor shall the Buyer or establish any rights hereunder in favour of such assignee thereunder have the status of a Secured Lender hereunder unless and until: (iii) until a copy thereof and the registration details, if applicable, together with written notice of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender.
(d) If the Supplier is in default under or pursuant to the Secured Lender’s Security Agreement and the Secured Lender intends to exercise any rights afforded to the Secured Lender under this Agreement, andthen the Secured Lender shall give written notice of such default to the Buyer at least ten (10) Business Days prior to exercising any such rights.
(e) Any Secured Lender’s Security Agreement permitted hereunder may secure two
Appears in 1 contract
Samples: E Lt 1 Contract
Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.115.5, the GeneratorSupplier, from time to time on or after the date of this Agreement shall have the right, at its cost, to enter into a Secured Lender's ’s Security Agreement. For greater certaintythe avoidance of doubt, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenderslenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's ’s Security Agreement as the Secured Lender on behalf of the Lenderslenders. A Secured Lender's ’s Security Agreement shall be based upon and subject to the following conditions:
(a) A Secured Lender's ’s Security Agreement may be made for any amounts and upon any terms (including terms of the loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the GeneratorSupplier, except as otherwise provided in this Agreement and the Lender ConsentAgreement.
(b) A Secured Lender's ’s Security Agreement may not secure any indebtedness, liability or obligation of the Generator Supplier that is not related to the Contract Facility or cover any real or personal property of the Generator Supplier not related to the Contract Facility, except in relation to any one or more projects developed in response to the 2,500 MW RFP, owned by the Supplier and subject to a contract with the Buyer as contemplated in the 2,500 MW RFP. For greater certainty, a Secured Lender's ’s Security Agreement may cover shares or partnership interests in the capital of the GeneratorSupplier.
(c) No Secured Lender’s Security Agreement shall affect or encumber in any manner the Buyer’s title to any government-owned premises. The AESO Buyer shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's ’s Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO Buyer for any or all of the same.
(d) No Secured Lender's ’s Security Agreement shall be recognized by binding upon the AESO nor have status as such hereunder Buyer in the enforcement of the AESO's Buyer’s rights and remedies provided in this Agreement or by Applicable LawLaws and Regulations, unless and until: (i) until a copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's ’s Security Agreement, such assignment shall not be recognized by binding upon the AESO nor shall the assignee thereunder have the status of a Secured Lender hereunder Buyer unless and until: (iii) until a copy thereof and the registration details, if applicable, together with written notice of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender.
(e) The Secured Lender shall provide reasonable notice, andwhich shall not be less than five (5) Business Days, to the Buyer of a default of the Supplier under such Secured Lender’s Security Agreement, which shall be a condition precedent to the Secured Lender exercising any rights afforded to it under this Agreement.
(f) Any Secured Lender’s Security Agreement permitted hereunder may secure two
Appears in 1 contract
Samples: Clean Energy Supply Contract
Lender Security. The Generator shall notNotwithstanding Sections 16.5, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto 16.6(a) and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.116.7, the GeneratorSupplier, from time to time on or after the date of this Agreement Contract Date, shall have the right, at its cost, to enter into a Secured Lender's ’s Security Agreement. For greater certaintythe avoidance of doubt, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenderslenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's ’s Security Agreement as the Secured Lender on behalf of the Lenderslenders. A Secured Lender's ’s Security Agreement shall be based upon and subject to the following conditions:
(a) A Secured Lender's ’s Security Agreement may be made for any amounts and upon any terms (including terms of the loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the GeneratorSupplier, except as otherwise provided in this Agreement and the Lender ConsentAgreement.
(b) A Secured Lender's ’s Security Agreement may not secure any indebtedness, liability or obligation of the Generator that is not related to the Facility or cover any real or personal property of the Generator not related to the Facility. For greater certainty, a Secured Lender's Security Agreement may cover shares or partnership interests in the capital of the GeneratorSupplier’s Interest.
(c) No Secured Lender’s Security Agreement shall affect or encumber in any manner the Sponsor’s title to any government-owned premises. The AESO Sponsor shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's ’s Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO Sponsor for any or all of the same.
(d) No Secured Lender's ’s Security Agreement shall be recognized by binding upon the AESO nor have status as such hereunder Sponsor in the enforcement of the AESO's Sponsor’s rights and remedies provided in this Agreement or by Applicable LawLaws and Regulations, unless and until: (i) a copy of until the original thereof Sponsor and the registration details, if applicable, together Supplier enter into an agreement with written notice of the address of the a Secured Lender to which notices may be sent have been delivered to substantially in the AESO by form of Exhibit D for the Generator or purpose of implementing the Secured Lender’s Security Agreement protection provisions contained in this Agreement. For greater certainty, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's Security Agreement, such assignment shall not be recognized by the AESO nor shall the assignee thereunder have the status of a Secured Lender hereunder will have no rights under this Agreement unless and until: (iii) a copy thereof until it enters into an agreement in substantially the form of Exhibit D with the Sponsor and the registration details, if applicable, together with written notice Supplier for the purpose of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO by the Generator or implementing the Secured Lender, and’s Security Agreement protection provisions contained in this Agreement as contemplated by Section 12.
Appears in 1 contract
Samples: Energy Storage Facility Agreement
Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.115.5, the GeneratorSupplier, from time to time on or after the date of this Agreement shall have the right, at its cost, to enter into a Secured Lender's ’s Security Agreement. For greater certaintythe avoidance of doubt, in the case of a deed of trust or similar instrument securing bonds or debentures debentures, where the trustee holds security on behalf of, or for the benefit of, other Lenderslenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's ’s Security Agreement as the Secured Lender on behalf of the Lenderslenders. A Secured Lender's ’s Security Agreement shall be based upon and subject to the following conditions:
(a) A Secured Lender's ’s Security Agreement may be made for any amounts and upon any terms (including terms of the loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the GeneratorSupplier, except as otherwise provided in this Agreement and the Lender ConsentAgreement.
(b) A Secured Lender's ’s Security Agreement may not secure any indebtedness, liability or obligation of the Generator Supplier that is not related to the Facility DSM Project or cover any real or personal property of the Generator Supplier not related to the FacilityDSM Project, except in relation to any one or more projects, developed in response to the 2,500 MW RFP, owned by the Supplier and subject to a contract with the Buyer as contemplated in the 2,500 MW RFP. For greater certainty, a Secured Lender's ’s Security Agreement may cover shares or partnership interests in the capital of the GeneratorSupplier.
(c) No Secured Lender’s Security Agreement shall affect or encumber in any manner the Buyer’s title to any government-owned premises. The AESO Buyer shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's ’s Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO Buyer for any or all of the same.
(d) No Secured Lender's ’s Security Agreement shall be recognized by binding upon the AESO nor have status as such hereunder Buyer in the enforcement of the AESO's Buyer’s rights and remedies provided in this Agreement or by Applicable LawLaws and Regulations, unless and until: (i) until a copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's ’s Security Agreement, such assignment shall not be recognized by binding upon the AESO nor shall the assignee thereunder have the status of a Secured Lender hereunder Buyer unless and until: (iii) until a copy thereof and the registration details, if applicable, together with written notice of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender.
(e) The Secured Lender shall provide reasonable notice, andwhich shall not be less than five (5) Business Days, to the Buyer of a default of the Supplier under such Secured Lender’s Security Agreement, which shall be a condition precedent to the Secured Lender exercising any rights afforded to it under this Agreement.
(f) Any Secured Lender’s Security Agreement permitted hereunder may secure two
Appears in 1 contract
Samples: Demand Side Management Contract
Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.116.5, the GeneratorSupplier, from time to time on or after the date of execution of this Agreement shall have the right, at its cost, to enter into a Secured Lender's ’s Security Agreement. For greater certaintythe avoidance of doubt, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenderslenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's ’s Security Agreement as the Secured Lender on behalf of the Lenderslenders. A Secured Lender's ’s Security Agreement shall be based upon and subject to the following conditions:
(a) A Secured Lender's ’s Security Agreement may be made in respect of obligations for any amounts and upon subject to any terms (including terms of the applicable loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the GeneratorSupplier, except as otherwise provided in this Agreement and the Lender Consent.
(b) Agreement. A Secured Lender's ’s Security Agreement may not secure any indebtedness, liability or obligation of the Generator that is not Supplier, whether exclusively related to the Facility or otherwise, and may cover any real or personal property of the Generator not related in addition to the FacilitySupplier’s Interest. For greater certainty, a Secured Lender's ’s Security Agreement may cover shares or partnership interests in the capital of the Generator.Supplier. Draft
(cb) The AESO Buyer shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's ’s Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO Buyer for any or all of the same.same.
(dc) No Secured Lender's ’s Security Agreement shall be recognized by the AESO nor have status as such Buyer or give rise to any rights hereunder in the enforcement of the AESO's Buyer’s rights and remedies provided in this Agreement or by Applicable LawLaws and Regulations, unless and until: (i) a until aan electronic copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's ’s Security Agreement, such assignment shall not be recognized by the AESO nor shall the Buyer or establish any rights hereunder in favour of such assignee thereunder have the status of a Secured Lender hereunder unless and until: (iii) until a copy thereof and the registration details, if applicable, together with written notice of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender.
(d) If the Supplier is in default under or pursuant to the Secured Lender’s Security Agreement and the Secured Lender intends to exercise any rights afforded to the Secured Lender under this Agreement, andthen the Secured Lender shall give written notice of such default to the Buyer at least ten (10) Business Days prior to exercising any such rights.
(e) Any Secured Lender’s Security Agreement permitted hereunder may secure two
Appears in 1 contract
Samples: E Lt 1 Contract
Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Draft Notwithstanding Section 20.116.5, the GeneratorSupplier, from time to time on or after the date of execution of this Agreement shall have the right, at its cost, to enter into a Secured Lender's ’s Security Agreement. For greater certaintythe avoidance of doubt, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenderslenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's ’s Security Agreement as the Secured Lender on behalf of the Lenderslenders. A Secured Lender's ’s Security Agreement shall be based upon and subject to the following conditions:
(a) A Secured Lender's ’s Security Agreement may be made in respect of obligations for any amounts and upon subject to any terms (including terms of the applicable loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the GeneratorSupplier, except as otherwise provided in this Agreement and the Lender Consent.
(b) Agreement. A Secured Lender's ’s Security Agreement may not secure any indebtedness, liability or obligation of the Generator that is not Supplier, whether exclusively related to the Facility or otherwise, and may cover any real or personal property of the Generator not related in addition to the FacilitySupplier’s Interest. For greater certainty, a Secured Lender's ’s Security Agreement may cover shares or partnership interests in the capital of the GeneratorSupplier.
(cb) The AESO Buyer shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's ’s Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO Buyer for any or all of the same.
(dc) No Secured Lender's ’s Security Agreement shall be recognized by the AESO nor have status as such Buyer or give rise to any rights hereunder in the enforcement of the AESO's Buyer’s rights and remedies provided in this Agreement or by Applicable LawLaws and Regulations, unless and until: (i) a until an electronic copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's ’s Security Agreement, such assignment shall not be recognized by the AESO nor shall the Buyer or establish any rights hereunder in favour of such assignee thereunder have the status of a Secured Lender hereunder unless and until: (iii) until a copy thereof and the registration details, if applicable, together with written notice of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender.
(d) If the Supplier is in default under or pursuant to the Secured Lender’s Security Agreement and the Secured Lender intends to exercise any rights afforded to the Secured Lender under this Agreement, andthen the Secured Lender shall give written notice of such default to the Buyer at least ten (10) Business Days prior to exercising any such rights.
(e) Any Secured Lender’s Security Agreement permitted hereunder may secure two
Appears in 1 contract
Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.115.5, the GeneratorSupplier, from time to time on or after the date of this Agreement shall have the right, at its cost, to enter into a Secured Lender's ’s Security Agreement. For greater certainty, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenderslenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's ’s Security Agreement as the Secured Lender on behalf of the Lenderslenders. A Secured Lender's ’s Security Agreement shall be based upon and subject to the following conditions:
(a) A Secured Lender's ’s Security Agreement may be made for any amounts and upon any terms (including terms of the loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the GeneratorSupplier, except as otherwise provided in this Agreement and the Lender ConsentAgreement.
(b) A Secured Lender's ’s Security Agreement may not secure any indebtedness, liability or obligation of the Generator Supplier that is not related to the Facility or cover any real or personal property of the Generator Supplier not related to the Facility. For greater certainty, a Secured Lender's ’s Security Agreement may cover shares or partnership interests in the capital of the GeneratorSupplier.
(c) The AESO Sponsor shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's ’s Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO Sponsor for any or all of the same.
(d) No Secured Lender's ’s Security Agreement shall be recognized by binding upon the AESO nor have status as such hereunder Sponsor in the enforcement of the AESO's Sponsor’s rights and remedies provided in this Agreement or by Applicable LawLaws and Regulations, unless and until: (i) until a copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent have been delivered to the AESO Sponsor by the Generator Supplier or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's ’s Security Agreement, such assignment shall not be recognized by binding upon the AESO nor shall the assignee thereunder have the status of a Secured Lender hereunder Sponsor unless and until: (iii) until a copy thereof and the registration details, if applicable, together with written notice of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO Sponsor by the Generator Supplier or the Secured Lender.
(e) If the Supplier is in default under or pursuant to the Secured Lender’s Security Agreement and the Secured Lender intends to exercise any rights afforded to the Secured Lender under this Agreement, then the Secured Lender shall give written notice of such default to the Sponsor at least 10 Business Days prior to exercising any such rights.
(f) Any Secured Lender’s Security Agreement permitted hereunder may secure two or more separate debts, liabilities or obligations in favour of two or more separate Secured Lenders, provided that such Secured Lender’s Security Agreement complies with the provisions of this Article 11.
(g) Any number of permitted Secured Lender’s Security Agreements may be outstanding at any one time, provided that each such Secured Lender’s Security Agreement complies with the provisions of this Article 11.
(h) All rights acquired by a Secured Lender under any Secured Lender’s Security Agreement shall be subject to all of the provisions of this Agreement, including the restrictions on assignment contained herein. While any Secured Lender’s Security Agreement is outstanding, the Sponsor and the Supplier shall not amend or supplement this Agreement or agree to a termination of this Agreement without the consent of the Secured Lender, andwhich consent shall not be unreasonably withheld, conditioned or delayed. Prior to any such amendment, supplement or termination, the Supplier shall provide to the Sponsor such Secured Lender’s consent in writing. A Secured Lender must respond within a reasonable period of time to any request to amend or supplement this Agreement.
(i) Despite any enforcement of any Secured Lender’s Security Agreement, the Supplier shall remain liable to the Sponsor for the payment of all sums owing to the Sponsor under this Agreement and for the performance of all of the Supplier’s obligations under this Agreement.
Appears in 1 contract
Samples: Power Purchase Agreement
Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.116.5, the GeneratorSupplier, from time to time on or after the date of this Agreement shall have the right, at its cost, to enter into a Secured Lender's ’s Security Agreement. For greater certaintythe avoidance of doubt, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenderslenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's ’s Security Agreement as the Secured Lender on behalf of the Lenderslenders. A Secured Lender's ’s Security Agreement shall be based upon and subject to the following conditions:
(a) A Secured Lender's ’s Security Agreement may be made for any amounts and upon any terms (including terms of the loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the GeneratorSupplier, except as otherwise provided in this Agreement and the Lender ConsentAgreement.
(b) A Secured Lender's ’s Security Agreement may not secure any indebtedness, liability or obligation of the Generator Supplier that is not related to the Facility or cover any real or personal property of the Generator Supplier not related to the Facility. For greater certainty, a Secured Lender's ’s Security Agreement may cover shares or partnership interests in the capital of the GeneratorSupplier.
(c) No Secured Lender’s Security Agreement shall affect or encumber in any manner the Buyer’s title to any government-owned premises. The AESO Buyer shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's ’s Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO Buyer for any or all of the same.
(d) No Secured Lender's ’s Security Agreement shall be recognized by binding upon the AESO nor have status as such hereunder Buyer in the enforcement of the AESO's Buyer’s rights and remedies provided in this Agreement or by Applicable LawLaws and Regulations, unless and until: (i) until a copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's ’s Security Agreement, such assignment shall not be recognized by binding upon the AESO nor shall the assignee thereunder have the status of a Secured Lender hereunder Buyer unless and until: (iii) until a copy thereof and the registration details, if applicable, together with written notice of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender.
(e) If the Supplier is in default under or pursuant to the Secured Lender’s Security Agreement and the Secured Lender intends to exercise any rights afforded to the Secured Lender under this Agreement, andthen the Secured Lender shall give notice of such default to the Buyer at least five (5) Business Days prior to exercising any such rights.
(f) Any Secured Lender’s Security Agreement permitted hereunder may secure two
Appears in 1 contract
Samples: Energy Supply Agreement
Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.114.5, the GeneratorSupplier, from time to time on or after the date of this Agreement shall have the right, at its cost, to enter into a Secured Lender's ’s Security Agreement. For greater certaintythe avoidance of doubt, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenderslenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's ’s Security Agreement as the Secured Lender on behalf of the Lenderslenders. A Secured Lender's ’s Security Agreement shall be based upon and subject to the following conditions:: York Region DR Contract Released November 30, 2005
(a) A Secured Lender's ’s Security Agreement may be made for any amounts and upon any terms (including terms of the loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the GeneratorSupplier, except as otherwise provided in this Agreement and the Lender ConsentAgreement.
(b) A Secured Lender's ’s Security Agreement may not secure any indebtedness, liability or obligation of the Generator Supplier that is not related to the Facility Project or cover any real or personal property of the Generator Supplier not related to the FacilityProject, except in relation to any one or more projects, developed and owned by the Supplier and subject to a contract with the Buyer. For greater certainty, a Secured Lender's ’s Security Agreement may cover shares or partnership interests in the capital of the GeneratorSupplier.
(c) No Secured Lender’s Security Agreement shall affect or encumber in any manner the Buyer’s title to any government-owned premises. The AESO Buyer shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's ’s Security Agreement, Agreement or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO Buyer for any or all of the same.
(d) No Secured Lender's ’s Security Agreement shall be recognized by binding upon the AESO nor have status as such hereunder Buyer in the enforcement of the AESO's Buyer’s rights and remedies provided in this Agreement or by Applicable Law, Laws and Regulations unless and until: (i) until a copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent sent, have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's ’s Security Agreement, such assignment shall not be recognized by binding upon the AESO nor shall the assignee thereunder have the status of a Secured Lender hereunder Buyer unless and until: (iii) until a copy thereof and the registration details, if applicable, together with written notice of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender.
(e) If the Supplier is in default under or pursuant to the Secured Lender’s Security Agreement and the Secured Lender intends to exercise any rights afforded to the Secured Lender under this Agreement, andthen the Secured Lender shall give notice of such default to the Buyer at least five (5) Business Days prior to exercising any such rights.
(f) Any Secured Lender’s Security Agreement permitted hereunder may secure two
Appears in 1 contract
Samples: Demand Response Contract
Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.116.5, the GeneratorSupplier, from time to time on or after the date of execution of this Agreement shall have the right, at its cost, to enter into a Secured Lender's ’s Security Agreement. For greater certaintythe avoidance of doubt, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenderslenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's ’s Security Agreement as the Secured Lender on behalf of the Lenderslenders. A Secured Lender's ’s Security Agreement shall be based upon and subject to the following conditions:conditions:
(a) A Secured Lender's ’s Security Agreement may be made in respect of obligations for any amounts and upon subject to any terms (including terms of the applicable loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the GeneratorSupplier, except as otherwise provided in this Agreement and the Lender Consent.
(b) Agreement. A Secured Lender's ’s Security Agreement may not secure any indebtedness, liability or obligation of the Generator that is not Supplier, whether exclusively related to the Facility or otherwise, and may cover any real or personal property of the Generator not related in addition to the FacilitySupplier’s Interest. For greater certainty, a Secured Lender's ’s Security Agreement may cover shares or partnership interests in the capital of the Generator.Supplier.
(cb) The AESO Buyer shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's ’s Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO Buyer for any or all of the same.same. Draft
(dc) No Secured Lender's ’s Security Agreement shall be recognized by the AESO nor have status as such Buyer or give rise to any rights hereunder in the enforcement of the AESO's Buyer’s rights and remedies provided in this Agreement or by Applicable LawLaws and Regulations, unless and until: (i) a until an electronic copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's ’s Security Agreement, such assignment shall not be recognized by the AESO nor shall the Buyer or establish any rights hereunder in favour of such assignee thereunder have the status of a Secured Lender hereunder unless and until: (iii) until a copy thereof and the registration details, if applicable, together with written notice of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender.
(d) If the Supplier is in default under or pursuant to the Secured Lender’s Security Agreement and the Secured Lender intends to exercise any rights afforded to the Secured Lender under this Agreement, andthen the Secured Lender shall give written notice of such default to the Buyer at least ten (10) Business Days prior to exercising any such rights.
(e) Any Secured Lender’s Security Agreement permitted hereunder may secure two
Appears in 1 contract
Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.116.5, the GeneratorSupplier, from time to time on or after the date of execution of this Agreement shall have the right, at its cost, to enter into a Secured Lender's ’s Security Agreement. For greater certaintythe avoidance of doubt, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenderslenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's ’s Security Agreement as the Secured Lender on behalf of the Lenderslenders. A Secured Lender's ’s Security Agreement shall be based upon and subject to the following conditions:
(a) A Secured Lender's ’s Security Agreement may be made in respect of obligations for any amounts and upon subject to any terms (including terms of the applicable loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the GeneratorSupplier, except as otherwise provided in this Agreement and the Lender Consent.
(b) Agreement. A Secured Lender's ’s Security Agreement may not secure any indebtedness, liability or obligation of the Generator that is not Supplier, whether exclusively related to the Facility or otherwise, and may cover any real or personal property of the Generator not related in addition to the FacilitySupplier’s Interest. For greater certainty, a Secured Lender's ’s Security Agreement may cover shares or partnership interests in the capital of the Generator.Supplier.
(cb) The AESO Buyer shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's ’s Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO Buyer for any or all of the same.same.
(dc) No Secured Lender's ’s Security Agreement shall be recognized by the AESO nor have status as such Buyer or give rise to any rights hereunder in the enforcement of the AESO's Buyer’s rights and remedies provided in this Agreement or by Applicable LawLaws and Regulations, unless and until: (i) a until an electronic copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's ’s Security Agreement, such assignment shall not be recognized by the AESO nor shall the Buyer or establish any rights hereunder in favour of such assignee thereunder have the status of a Secured Lender hereunder unless and until: (iii) until a copy thereof and the registration details, if applicable, together with written notice of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender.
(d) If the Supplier is in default under or pursuant to the Secured Lender’s Security Agreement and the Secured Lender intends to exercise any rights afforded to the Secured Lender under this Agreement, andthen the Secured Lender shall give written notice of such default to the Buyer at least ten (10) Business Days prior to exercising any such rights.
(e) Any Secured Lender’s Security Agreement permitted hereunder may secure two
Appears in 1 contract
Samples: E Lt 1 Contract
Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.116.5, the GeneratorSupplier, from time to time on or after the date of execution of this Agreement shall have the right, at its cost, to enter into a Secured Lender's ’s Security Agreement. For greater certaintythe avoidance of doubt, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenderslenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's ’s Security Agreement as the Secured Lender on behalf of the Lenderslenders. A Secured Lender's ’s Security Agreement shall be based upon and subject to the following conditions:
(a) A Secured Lender's ’s Security Agreement may be made in respect of obligations for any amounts and upon subject to any terms (including terms of the applicable loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the GeneratorSupplier, except as otherwise provided in this Agreement and the Lender Consent.
(b) Agreement. A Secured Lender's ’s Security Agreement may not secure any indebtedness, liability or obligation of the Generator that is not Supplier, whether exclusively related to the Facility or otherwise, and may cover any real or personal property of the Generator not related in addition to the FacilitySupplier’s Interest. For greater certainty, a Secured Lender's ’s Security Agreement may cover shares or partnership interests in the capital of the Generator.Supplier. Draft
(cb) The AESO Buyer shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's ’s Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO Buyer for any or all of the same.same.
(dc) No Secured Lender's ’s Security Agreement shall be recognized by the AESO nor have status as such Buyer or give rise to any rights hereunder in the enforcement of the AESO's Buyer’s rights and remedies provided in this Agreement or by Applicable LawLaws and Regulations, unless and until: (i) a until an electronic copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's ’s Security Agreement, such assignment shall not be recognized by the AESO nor shall the Buyer or establish any rights hereunder in favour of such assignee thereunder have the status of a Secured Lender hereunder unless and until: (iii) until a copy thereof and the registration details, if applicable, together with written notice of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender.
(d) If the Supplier is in default under or pursuant to the Secured Lender’s Security Agreement and the Secured Lender intends to exercise any rights afforded to the Secured Lender under this Agreement, andthen the Secured Lender shall give written notice of such default to the Buyer at least ten (10) Business Days prior to exercising any such rights.
(e) Any Secured Lender’s Security Agreement permitted hereunder may secure two
Appears in 1 contract
Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.115.5, the GeneratorSupplier, from time to time on or after the date of this Agreement shall have the right, at its cost, to enter into a Secured Lender's ’s Security Agreement. For greater certaintythe avoidance of doubt, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenderslenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's ’s Security Agreement as the Secured Lender on behalf of the Lenderslenders. A Secured Lender's ’s Security Agreement shall be based upon and subject to the following conditions:
(a) A Secured Lender's ’s Security Agreement may be made for any amounts and upon any terms (including terms of the loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the GeneratorSupplier, except as otherwise provided in this Agreement and the Lender ConsentAgreement.
(b) A Secured Lender's ’s Security Agreement may not secure any indebtedness, liability or obligation of the Generator Supplier that is not related to the Facility DR Project or cover any real or personal property of the Generator Supplier not related to the FacilityDR Project, except in relation to any one or more projects, developed in response to the 2,500 MW RFP, owned by the Supplier and subject to a contract with the Buyer as contemplated in the 2,500 MW RFP. For greater certainty, a Secured Lender's ’s Security Agreement may cover shares or partnership interests in the capital of the GeneratorSupplier.
(c) No Secured Lender’s Security Agreement shall affect or encumber in any manner the Buyer’s title to any government-owned premises. The AESO Buyer shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's ’s Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO Buyer for any or all of the same.
(d) No Secured Lender's ’s Security Agreement shall be recognized by binding upon the AESO nor have status as such hereunder Buyer in the enforcement of the AESO's Buyer’s rights and remedies provided in this Agreement or by Applicable LawLaws and Regulations, unless and until: (i) until a copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's ’s Security Agreement, such assignment shall not be recognized by binding upon the AESO nor shall the assignee thereunder have the status of a Secured Lender hereunder Buyer unless and until: (iii) until a copy thereof and the registration details, if applicable, together with written notice of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender.
(e) The Secured Lender shall provide reasonable notice, andwhich shall not be less than five (5) Business Days, to the Buyer of a default of the Supplier under such Secured Lender’s Security Agreement, which shall be a condition precedent to the Secured Lender exercising any rights afforded to it under this Agreement.
(f) Any Secured Lender’s Security Agreement permitted hereunder may secure two
Appears in 1 contract
Samples: Demand Response Contract
Lender Security. The Generator shall not, at any time, enter into a Lending Agreement which has a Sponsor as a counterparty thereto and which but for the participation of the Sponsor would be a Secured Lender's Security Agreement. Notwithstanding Section 20.116.5, the GeneratorSupplier, from time to time on or after the date of execution of this Agreement shall have the right, at its cost, to enter into a Secured Lender's ’s Security Agreement. For greater certaintythe avoidance of doubt, in the case of a deed of trust or similar instrument securing bonds or debentures where the trustee holds security on behalf of, or for the benefit of, other Lenderslenders, only the trustee shall be entitled to exercise the rights and remedies under the Secured Lender's ’s Security Agreement as the Secured Lender on behalf of the Lenderslenders. A Secured Lender's ’s Security Agreement shall be based upon and subject to the following conditions:
(a) A Secured Lender's ’s Security Agreement may be made in respect of obligations for any amounts and upon subject to any terms (including terms of the applicable loans, interest rates, payment terms and prepayment privileges or restrictions) as desired by the GeneratorSupplier, except as otherwise provided in this Agreement and the Lender Consent.
(b) Agreement. A Secured Lender's ’s Security Agreement may not secure any indebtedness, liability or obligation of the Generator that is not Supplier, whether exclusively related to the Facility or otherwise, and may cover any real or personal property of the Generator not related in addition to the FacilitySupplier’s Interest. For greater certainty, a Secured Lender's ’s Security Agreement may cover shares or partnership interests in the capital of the Generator.Supplier. Draft
(cb) The AESO Buyer shall have no liability whatsoever for payment of the principal sum secured by any Secured Lender's ’s Security Agreement, or any interest accrued thereon or any other sum secured thereby or accruing thereunder; and the Secured Lender shall not be entitled to seek any damages against the AESO Buyer for any or all of the same.same.
(dc) No Secured Lender's ’s Security Agreement shall be recognized by the AESO nor have status as such Buyer or give rise to any rights hereunder in the enforcement of the AESO's Buyer’s rights and remedies provided in this Agreement or by Applicable LawLaws and Regulations, unless and until: (i) a until an electronic copy of the original thereof and the registration details, if applicable, together with written notice of the address of the Secured Lender to which notices may be sent have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender, and (ii) such Secured Lender has entered into the Lender Consent as set forth in Section 17.3; and in the event of an assignment of such Secured Lender's ’s Security Agreement, such assignment shall not be recognized by the AESO nor shall the Buyer or establish any rights hereunder in favour of such assignee thereunder have the status of a Secured Lender hereunder unless and until: (iii) until a copy thereof and the registration details, if applicable, together with written notice of the address of the assignee thereof to which notices may be sent, have been delivered to the AESO Buyer by the Generator Supplier or the Secured Lender.
(d) If the Supplier is in default under or pursuant to the Secured Lender’s Security Agreement and the Secured Lender intends to exercise any rights afforded to the Secured Lender under this Agreement, andthen the Secured Lender shall give written notice of such default to the Buyer at least ten (10) Business Days prior to exercising any such rights.
(e) Any Secured Lender’s Security Agreement permitted hereunder may secure two
Appears in 1 contract
