Lessee Remedies. Subject to Section 15.3(b), and notwithstanding any provision to the contrary contained herein, if Lessor shall (i) fail to perform or breach any of its material obligations under Articles 2 through 5 prior to the Commercial Operation Date, Lessee’s sole and exclusive remedies shall be those set forth in Section 2.4 and, to the maximum extent permitted by law, Lessee expressly waives any other rights available to it at law or in equity; and (ii) fail to perform or breach any of its other material obligations under this Facility Lease prior to the Commercial Operation Date, and such default continues unremedied for a period of 90 days after written notice thereof by Lessee, provided, however, that such 90-day period shall be extended for an additional 90 days so long as such default is remediable and Lessor is diligently pursuing such remedy, then Lessee may, upon written notice to Lessor, declare this Facility Lease to be in default, and at any time, subject to Section 15.3 and the other terms of this Facility Lease, Lessee shall have all remedies available to it at law or in equity.
Appears in 2 contracts
Samples: Facility Lease Agreement (Mge Energy Inc), Facility Lease Agreement (Madison Gas & Electric Co)
Lessee Remedies. Subject to Section 15.3(b)17.3, and notwithstanding any provision to the contrary contained herein, if Lessor shall (i) fail to perform or breach any of its material obligations under Articles 2 through 2, 3, 4 and 5 prior to during the Commercial Operation DateConstruction Term, Lessee’s 's sole and exclusive remedies shall be those set forth in Section 2.4 andremedies, if any, expressly provided for therein, and to the maximum extent permitted by lawLaw, Lessee expressly waives any other rights or remedies available to it at law or in equity; , and (ii) fail to perform or breach any of its other material obligations under this Facility Lease prior to during the Commercial Operation DateConstruction Term, and such default continues unremedied for a period of 90 ninety (90) days after written notice thereof by Lessee, provided, however, that such ninety (90-) day period shall be extended for an additional 90 ninety (90) days so long as such default is remediable and Lessor is diligently pursuing such remedy, then Lessee may, upon written notice to Lessor, declare this Facility Lease to be in default, and at any time, subject to Section 15.3 17.3 and the other terms of this Facility Lease, Lessee shall have all remedies available to it at law or in equity.
Appears in 2 contracts
Samples: Facility Lease Agreement (Wisconsin Electric Power Co), Facility Lease Agreement (Wisconsin Electric Power Co)
Lessee Remedies. Subject to Section 15.3(b)17.3, and notwithstanding any provision to the contrary contained herein, if Lessor shall (i) fail to perform or breach any of its material obligations under Articles 2 through 2, 3, 4 and 5 prior to during the Commercial Operation DateConstruction Term, Lessee’s sole and exclusive remedies shall be those set forth in Section 2.4 andremedies, if any, expressly provided for therein, and to the maximum extent permitted by lawLaw, Lessee expressly waives any other rights or remedies available to it at law or in equity; , and (ii) fail to perform or breach any of its other material obligations under this Facility Lease prior to during the Commercial Operation DateConstruction Term, and such default continues unremedied for a period of 90 ninety (90) days after written notice thereof by Lessee, provided, however, that such ninety (90-) day period shall be extended for an additional 90 ninety (90) days so long as such default is remediable and Lessor is diligently pursuing such remedy, then Lessee may, upon written notice to Lessor, declare this Facility Lease to be in default, and at any time, subject to Section 15.3 17.3 and the other terms of this Facility Lease, Lessee shall have all remedies available to it at law or in equity.
Appears in 2 contracts
Samples: Facility Lease Agreement (Wisconsin Energy Corp), Facility Lease Agreement (Wisconsin Energy Corp)