Ownership of the Plant Sample Clauses

Ownership of the Plant. Without limiting Buyer's rights pursuant to Section 15, during the Term (but excluding any extensions or renewals thereof), if Supplier shall sell, transfer or license any part of the Plant or enter into any agreement or arrangement that would have the effect of transferring operational control of the Plant to a third party, Supplier shall cause such third party to assume, for the benefit of Buyer, all obligations of Supplier hereunder.
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Ownership of the Plant. WEPCo shall own all of the Plant and be entitled to all of its capacity, associated energy, ancillary services, by-products from operations and environmental allowances or attributes (if any) unless and until Wolverine obtains an Ownership Interest in the Plant in accordance with this Article III.
Sample 1
Ownership of the Plant. 14.1 We own or have the rights to hire the Plant to you. In no circumstances do we transfer the title to the Plant to you under these Terms. Your rights to use or benefit of the Plant is as bailee only. The Plant shall be at your risk from the time of delivery or pickup, and you must take out and maintain adequate insurance for loss or damage to the Plant whilst in your risk. 14.2 You are not entitled to offer, sell, assign, sub-let, charge, mortgage, pledge or create any form of security interest over, or otherwise deal with the Plant in any other manner other than as described by these Terms. 14.3 We are irrevocably authorised to enter any premises where the Plant is kept, and to use your name and to act on your behalf, if necessary, to recover possession of the Plant without liability for trespass or any resulting damage.
Sample 1
Ownership of the Plant. Lessor acknowledges and agrees that Lessee owns all right, title and interest in and to the Plant and all ancillary equipment, infrastructure and facilities on the Plant Site. Lessor shall do all things necessary to ensure that Lessee shall be the sole and absolute owner of the Plant and all ancillary equipment, infrastructure and facilities on the Plant Site, and shall do all acts reasonably requested by Lessee to assist and facilitate Lessee in asserting and maintaining such ownership.
Sample 1
Ownership of the Plant. The Plant is and remains the property of the Contractor during the entire Lease Term. No right, title or interest in the Plant shall pass to the Client during the Lease Term. The Plant is not part of the Site and may be removed by the Contractor in compliance with the terms of the Agreement. The Plant shall in no way be deemed as any asset attached to the Site. Neither the Plant nor any of its components may be sold, leased, assigned, mortgaged, pledged or otherwise alienated or encumbered by the Client. The Client shall not cause or permit the Plant or any part thereof to become subject to any lien, encumbrance, pledge, or levy. The Client shall indemnify the Contractor against all losses, claims, costs and expenses (including attorneys’ fees) incurred by Contractor in discharging and releasing any such lien, encumbrance, pledge, or levy. If the Client has provided any security over the Site it must notify the Contractor in writing, and, the Contractor may require the Client to obtain a written confirmation issued by the beneficiary of such security confirming that the Plant shall not form part thereof. Generation of electricity The Client is entitled to use the Plant for its own supply and pursuant to its requirements. The Client is the operator of the Plant. The electricity generated by the Plant is the property of the Client immediately upon generation. The Contractor is not entitled to any rights in this respect. Any Environmental Attributes shall remain the property, and under the sole control of the Client. The Client shall operate the Plant in accordance with Prudent Operating Practice Rental Fee The Client shall during the whole Lease Term pay the Contractor the Monthly Rental Fee. The calculation of the Monthly Rental Fee starts with the base fee, which is adjusted on each anniversary of the commercial operation of the Plant. The base fee and the adjustments are set out in Annex F. [Note: The Monthly Rental Fee can be freely set by Parties.] Repair and Maintenance services3 and fee The Contractor shall maintain the Plant in good and proper working order during the Lease Term and protect the Plant from deterioration, other than normal wear and tear. The Contractor shall perform the maintenance services in accordance with the Maintenance Plan. The Client shall pay the Maintenance Service Fee as set out in Annex E for the maintenance services during the Lease Term. The Contractor shall provide the Client with reasonable notice prior to accessing the...
Sample 1

Related to Ownership of the Plant

  • Ownership of the Property (a) Lessor and Lessee intend that (i) for financial accounting purposes with respect to Lessee (A) this Lease will be treated as an "operating lease" pursuant to Statement of Financial Accounting Standards (SFAS) No. 13, as LEASE amended, (B) Lessor will be treated as the owner and lessor of the Properties and (C) Lessee will be treated as the lessee of the Properties, but (ii) for federal, state and local income tax and all other purposes (A) this Lease will be treated as a financing arrangement, (B) the Lenders will be treated as senior lenders making loans to Lessee in an amount equal to the Loans, which Loans will be secured by the Properties, (C) Lessor will be treated as a subordinated lender making a loan to Lessee in an amount equal to the Investor Contribution, which loan is secured by the Properties, and (D) Lessee will be treated as the owner of the Properties and will be entitled to all tax benefits ordinarily available to an owner of property like such Property for such tax purposes. Nevertheless, Lessee acknowledges and agrees that none of the Participants has made any representations or warranties to Lessee concerning the tax, accounting or legal characteristics of the Operative Agreements and that Lessee has obtained and relied upon such tax, accounting and legal advice concerning the Operative Agreements as it deems appropriate. The parties hereto will not take any position inconsistent with the intentions expressed herein. (b) Lessor and Lessee further intend and agree that, for the purpose of securing Lessee's obligations for the repayment of the above-described loans, (i) this Lease shall also be deemed to be a security agreement and financing statement within the meaning of Article 9 of the Uniform Commercial Code and a real property mortgage or deed of trust, as applicable; (ii) the conveyance provided for in Section 2 shall be deemed a grant of a security interest in and a mortgage lien on Lessee's right, title and interest in the Properties (including the right to exercise all remedies as are contained in the applicable Lease Supplement and Memorandum of Lease upon the occurrence of a Lease Event of Default) and all proceeds of the conversion, voluntary or involuntary, of the foregoing into cash, investments, securities or other property, whether in the form of cash, investments, securities or other property, for the benefit of Lessor to secure Lessee's payment of all amounts owed by Lessee under this Lease and the other Operative Agreements and Lessor holds title to the Properties so as to create and grant a first lien and prior security interest in each Property pursuant to this Lease for the benefit of the Administrative Agent under the Assignment of Lease, to secure to the Administrative Agent the obligations of Lessee under the Lease; (iii) the possession by Lessor or any of its agents of notes and such other items of property as constitute instruments, money, negotiable documents or chattel paper shall be deemed to be "possession by the secured party" for purposes of perfecting the security interest pursuant to Section 9-305 of the Uniform Commercial Code; and (iv) notifications to Persons holding such property, and acknowledgments, receipts or confirmations from financial intermediaries, bankers or agents (as applicable) of Lessee shall be deemed to have been given for the purpose of perfecting such security interest under applicable law. Lessor and Lessee shall, to the extent consistent with this Lease, take such actions as may be necessary to ensure that, if this Lease were deemed to create a security interest in the Properties in accordance with this Section, such security interest would be deemed to be a perfected security interest of first priority under applicable law and will be maintained as such throughout the Term. Nevertheless, Lessee acknowledges and agrees that no Participant has provided or will provide tax, accounting or legal advice to Lessee regarding this Lease, the Operative Agreements or the transactions contemplated hereby and thereby, or made any representations or warranties concerning the tax, accounting or legal characteristics of the Operative Agreements, and that Lessee has obtained and relied

  • OWNERSHIP OF THE ASSETS LNY will have exclusive and absolute ownership and control of its assets, including all assets in the Variable Account.

  • Ownership of Equipment Any equipment purchased by or furnished to the Grantee by the State under this grant agreement is provided on a loan basis only and remains the property of the State.

  • Ownership of Technology As between the Parties, each Party shall own and retain all right, title, and interest in and to any and all Inventions and Information that are conceived, discovered, developed, or otherwise made solely by or on behalf of such Party (or its Affiliates or Sublicensees) under or in connection with this Agreement, whether or not patented or patentable, and any and all Patents and other intellectual property rights with respect thereto.

  • Ownership of the Shares Selling Shareholders own all of the Shares, free and clear of all liens, claims, rights, charges, encumbrances, and security interests of whatsoever nature or type.

  • Ownership of Stock The Selling Shareholders own all of the issued and outstanding shares of capital stock of the Company, free and clear of all liens, claims, rights, charges, encumbrances, and security interests of whatsoever nature or type.

  • Ownership of Improvements All modifications, alterations and improvements made or added to the Leased Premises by Tenant (other than Tenant’s inventory, equipment, movable furniture, wall decorations and trade fixtures) shall be deemed real property and a part of the Leased Premises, but shall remain the property of Tenant during the Lease, and Tenant hereby covenants and agrees not to grant a security interest in any such items to any party other than Landlord. Any such modifications, alterations or improvements, once completed, shall not be altered or removed from the Leased Premises during the Lease Term without Landlord’s written approval first obtained in accordance with the provisions of Paragraph 6.1 above. At the expiration or sooner termination of this Lease, all such modifications, alterations and improvements other than Tenant’s inventory, equipment, movable furniture, wall decorations and trade fixtures, shall automatically become the property of Landlord and shall be surrendered to Landlord as part of the Leased Premises as required pursuant to Article 2, unless Landlord shall require Tenant to remove any of such modifications, alterations or improvements in accordance with the provisions of Article 2, in which case Tenant shall so remove same. Landlord shall have no obligations to reimburse Tenant for all or any portion of the cost or value of any such modifications, alterations or improvements so surrendered to Landlord. All modifications, alterations or improvements which are installed or constructed on or attached to the Leased Premises by Landlord and/or at Landlord’s expense shall be deemed real property and a part of the Leased Premises and shall be property of Landlord. All lighting, plumbing, electrical, heating, ventilating and air conditioning fixtures, partitioning, window coverings, wall coverings and floor coverings installed by Tenant shall be deemed improvements to the Leased Premises and not trade fixtures of Tenant.

  • Ownership of the Leased Property Lessee acknowledges that the Leased Property is the property of Lessor and that Lessee has only the right to the possession and use of the Leased Property upon the terms and conditions of this Lease.

  • Ownership of Seller Credit Acceptance is the sole owner of the membership interests of the Seller, all of which are fully paid and nonassessable and owned of record, free and clear of all mortgages, assignments, pledges, security interests, warrants, options and rights to purchase.

  • Ownership of the Borrower Except as set forth in the Partnership Agreement of the Borrower, the Borrower has no obligation to any Person to purchase, repurchase or issue any ownership interest in it.

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