Place and Manner of Payment. (a) All payments of Rent, the Termination Value and the Fair Market Value Purchase Price payable by Lessee to Lessor under this Facility Lease shall be made by Lessee to or for the account of Lessor as Lessor shall from time to time direct in writing in immediately available funds in Dollars in the amount of such payments on the date when such payments are due. (b) Neither Lessee’s inability or failure to take possession of all, or any portion, of the Leased Facility when delivered by Lessor, nor Lessor’s inability or failure to deliver all or any portion of the Leased Facility to Lessee, whether or not attributable to any act or omission of Lessee or any act or omission of any other Person (other than Lessor), or for any other reason whatsoever, shall delay or otherwise affect Lessee’s obligation to pay Rent, the Termination Value and/or the Fair Market Value Purchase Price in accordance with the terms of this Facility Lease. (c) If the Leased Facility is sold to Lessee pursuant to Section 14.4, and the Fair Market Value Purchase Price is greater than thirty percent (30%) of the Approved Amount, then Lessee shall not be obligated to pay the entire amount of such Fair Market Value Purchase Price as of the last day of the Base Term or Renewal Term, as the case may be, but shall be obligated to pay Lessor as follows: (i) (A) if such Fair Market Value Purchase Price is between thirty percent (30%) and fifty percent (50%) of the Approved Amount, then Lessee shall be obligated to pay the full amount of the Fair Market Value Purchase Price in twenty (20) equal quarterly installments; and (B) if such Fair Market Value Purchase Price is over fifty percent (50%) of the Approved Amount, then Lessee shall be obligated to pay the full amount of such Fair Market Value Purchase Price in forty (40) equal quarterly installments. (ii) In addition to the repayment of the Fair Market Value Purchase Price, Lessee shall be obligated to pay Lessor a Return on Capital with respect to the outstanding unpaid amount of the Fair Market Value Purchase Price. On or before the tenth (10th) day of each calendar month (or if such day is not a Business Day, the next Business Day) following the last day of the Base Term or Renewal Term, as the case may be, until the Fair Market Value Purchase Price is paid in full to Lessor, Lessor shall submit a written invoice to Lessee which shall indicate (i) the total amount outstanding of the Fair Market Value Purchase Price and (ii) the Return on Capital with respect to the total amount outstanding of the Fair Market Value Purchase Price. No later than the thirtieth (30th) day after which Lessee receives each invoice (or if such day is not a Business Day, the next Business Day), Lessee shall pay the amount specified in the invoice to or for the account of Lessor in Dollars. (iii) Notwithstanding any provision to the contrary contained in this Facility Lease, this Section 7.2(c) shall survive the termination of this Facility Lease.
Appears in 2 contracts
Samples: Facility Lease Agreement (Wisconsin Energy Corp), Facility Lease Agreement (Wisconsin Energy Corp)
Place and Manner of Payment. (a) All payments of Rent, to be made by the Termination Value and the Fair Market Value Purchase Price payable by Lessee to Lessor under this Facility Lease shall be made by Lessee to or for the account of Lessor as Lessor shall from time to time direct in writing in immediately available funds in Dollars in the amount of such payments on the date when such payments are due.
(b) Neither Lessee’s inability or failure to take possession of all, or any portion, of the Leased Facility when delivered by Lessor, nor Lessor’s inability or failure to deliver all or any portion of the Leased Facility to Lessee, whether or not attributable to any act or omission of Lessee or any act or omission of any other Person (other than Lessor), or for any other reason whatsoever, shall delay or otherwise affect Lessee’s obligation to pay Rent, the Termination Value and/or the Fair Market Value Purchase Price in accordance with the terms of this Facility Lease.
(c) If the Leased Facility is sold to Lessee pursuant to Section 14.4, and the Fair Market Value Purchase Price is greater than thirty percent (30%) of the Approved Amount, then Lessee shall not be obligated to pay the entire amount of such Fair Market Value Purchase Price as of the last day of the Base Term or Renewal Term, as the case may be, but shall be obligated to pay Lessor as follows:
(i) (A) if such Fair Market Value Purchase Price is between thirty percent (30%) and fifty percent (50%) Each installment of Periodic Rent shall be paid to the Owner-Trustee by wire transfer to the principal office of the Approved Amount, then Owner-Trustee at the address thereof provided for payments in Section 20(c); PROVIDED that until the Lessee shall have received notice from the Indenture Trustee that all Secured Indebtedness has been fully paid and satisfied, all such payments shall be obligated made by wire transfer to pay the full amount office of the Fair Market Value Purchase Price Indenture Trustee designated in twenty (20Section 20(c) equal quarterly installments; and (B) if such Fair Market Value Purchase Price is over fifty percent (50%) of or as otherwise designated from time to time in writing by the Approved Amount, then Lessee shall be obligated to pay the full amount of such Fair Market Value Purchase Price in forty (40) equal quarterly installments.Indenture Trustee;
(ii) In addition The entire amount of any payment of Casualty Value or Termination Value pursuant to Section 13, of any payment of the purchase price of the Facility pursuant to Section 19(b) or Early Purchase Price pursuant to Section 19(f), and any payment pursuant to Section 15 hereof shall be paid to the repayment Owner-Trustee by wire transfer to the principal office of the Fair Market Value Purchase Price, Owner-Trustee at the address thereof provided for payments in Section 20(c); PROVIDED that until the Lessee shall have received notice from the Indenture Trustee that all Secured Indebtedness has been fully paid and satisfied, all such payments shall be obligated to pay Lessor a Return on Capital with respect made by wire transfer to the outstanding unpaid amount office of the Fair Market Value Purchase Price. On Indenture Trustee designated in Section 20 or before as otherwise designated from time to time in writing by the tenth (10th) day of each calendar month (or if such day is not a Business Day, the next Business Day) following the last day of the Base Term or Renewal Term, as the case may be, until the Fair Market Value Purchase Price is paid in full to Lessor, Lessor shall submit a written invoice to Lessee which shall indicate (i) the total amount outstanding of the Fair Market Value Purchase Price and (ii) the Return on Capital with respect to the total amount outstanding of the Fair Market Value Purchase Price. No later than the thirtieth (30th) day after which Lessee receives each invoice (or if such day is not a Business Day, the next Business Day), Lessee shall pay the amount specified in the invoice to or for the account of Lessor in Dollars.Indenture Trustee;
(iii) Notwithstanding The amount of any provision payment owing to the contrary contained Owner-Trustee or the Owner Participant pursuant to Section 6 or 8 of the Participation Agreement (and by incorporation by reference herein, Section 5 hereof) and Section 7 (but, in this Facility Leasethe case of Section 7, this Section 7.2(conly with respect to public liability insurance) shall survive be made directly to the termination party to receive the same without regard to the assignment of this Facility LeaseLease pursuant to Section 14; and
(iv) All payments other than those above specified shall be made by the Lessee directly to the party entitled to receive the same. The Lessee agrees that it will make payments due hereunder by wire transfer where specified above in immediately available funds consisting of lawful currency of the United States of America no later than 10:00 A.M. Portland, Oregon time on the date due to the party to whom such payment is to be made to such account in any United States bank as such party may from time to time direct in writing, and where not so specified, such payment shall be made by check of the Lessee drawn on a bank located in the continental United States and mailed to the party to receive the same at the address herein provided or at such other address as the Lessee shall have been previously advised in writing.
Appears in 2 contracts
Samples: Facility Lease (Crown Pacific Partners L P), Facility Lease (Crown Pacific Partners L P)
Place and Manner of Payment. (a) All payments of Rent, the Termination Value and the Fair Market Value Purchase Price payable by Lessee to Lessor under this Facility Lease shall be made by Lessee to or for the account of Lessor as Lessor shall from time to time direct in writing in immediately available funds in Dollars in the amount of such payments on the date when such payments are due.
(b) Neither Lessee’s 's inability or failure to take possession of all, or any portion, of the Leased Facility when delivered by Lessor, nor Lessor’s 's inability or failure to deliver all or any portion of the Leased Facility to Lessee, whether or not attributable to any act or omission of Lessee or any act or omission of any other Person (other than Lessor), or for any other reason whatsoever, shall delay or otherwise affect Lessee’s 's obligation to pay Rent, the Termination Value and/or the Fair Market Value Purchase Price in accordance with the terms of this Facility Lease.
(c) If the Leased Facility is sold to Lessee pursuant to Section 14.4, and the Fair Market Value Purchase Price is greater than thirty percent (30%) of the Approved Amount, then Lessee shall not be obligated to pay the entire amount of such Fair Market Value Purchase Price as of the last day of the Base Term or Renewal Term, as the case may be, but shall be obligated to pay Lessor as follows:
(i) (A) if such Fair Market Value Purchase Price is between thirty percent (30%) and fifty percent (50%) of the Approved Amount, then Lessee shall be obligated to pay the full amount of the Fair Market Value Purchase Price in twenty (20) equal quarterly installments; and (B) if such Fair Market Value Purchase Price is over fifty percent (50%) of the Approved Amount, then Lessee shall be obligated to pay the full amount of such Fair Market Value Purchase Price in forty (40) equal quarterly installments.
(ii) In addition to the repayment of the Fair Market Value Purchase Price, Lessee shall be obligated to pay Lessor a Return on Capital with respect to the outstanding unpaid amount of the Fair Market Value Purchase Price. On or before the tenth (10th) day of each calendar month (or if such day is not a Business Day, the next Business Day) following the last day of the Base Term or Renewal Term, as the case may be, until the Fair Market Value Purchase Price is paid in full to Lessor, Lessor shall submit a written invoice to Lessee which shall indicate (i) the total amount outstanding of the Fair Market Value Purchase Price and (ii) the Return on Capital with respect to the total amount outstanding of the Fair Market Value Purchase Price. No later than the thirtieth (30th) day after which Lessee receives each invoice (or if such day is not a Business Day, the next Business Day), Lessee shall pay the amount specified in the invoice to or for the account of Lessor in Dollars.
(iii) Notwithstanding any provision to the contrary contained in this Facility Lease, this Section 7.2(c) shall survive the termination of this Facility Lease.
Appears in 2 contracts
Samples: Facility Lease Agreement (Wisconsin Electric Power Co), Facility Lease Agreement (Wisconsin Electric Power Co)
Place and Manner of Payment. (a) All payments of Rent, to be made by the Termination Value and the Fair Market Value Purchase Price payable by Lessee to Lessor --------------------------- under this Facility Lease shall be made by Lessee to or for the account of Lessor as Lessor shall from time to time direct in writing in immediately available funds in Dollars in the amount of such payments on the date when such payments are due.
(b) Neither Lessee’s inability or failure to take possession of all, or any portion, of the Leased Facility when delivered by Lessor, nor Lessor’s inability or failure to deliver all or any portion of the Leased Facility to Lessee, whether or not attributable to any act or omission of Lessee or any act or omission of any other Person (other than Lessor), or for any other reason whatsoever, shall delay or otherwise affect Lessee’s obligation to pay Rent, the Termination Value and/or the Fair Market Value Purchase Price in accordance with the terms of this Facility Lease.
(c) If the Leased Facility is sold to Lessee pursuant to Section 14.4, and the Fair Market Value Purchase Price is greater than thirty percent (30%) of the Approved Amount, then Lessee shall not be obligated to pay the entire amount of such Fair Market Value Purchase Price as of the last day of the Base Term or Renewal Term, as the case may be, but shall be obligated to pay Lessor as follows:
(i) (A) if such Fair Market Value Purchase Price is between thirty percent (30%) and fifty percent (50%) Each installment of Periodic Rent shall be paid to the Owner Trustee by wire transfer to the principal office of the Approved Amount, then Owner Trustee at the address thereof provided for payments in Section 20(c); provided that until the Lessee shall have received notice from the Indenture Trustee that all Secured Indebtedness has been fully paid and satisfied, all such payments shall be obligated made by wire transfer to pay the full amount office of the Fair Market Value Purchase Price Indenture Trustee designated in twenty (20Section 20(c) equal quarterly installments; and (B) if such Fair Market Value Purchase Price is over fifty percent (50%) of or as otherwise designated from time to time in writing by the Approved Amount, then Lessee shall be obligated to pay the full amount of such Fair Market Value Purchase Price in forty (40) equal quarterly installments.Indenture Trustee;
(ii) In addition The entire amount of any payment of Casualty Value or Termination Value pursuant to Section 13, of any payment of the purchase price of the Facility pursuant to Section 19(b), Early Purchase Price pursuant to Section 19(f), and any payment pursuant to Section 15 hereof shall be paid to the repayment Owner Trustee by wire transfer to the principal office of the Fair Market Value Purchase Price, Owner Trustee at the address thereof provided for payments in Section 20(c); provided that until the Lessee shall have received notice from the Indenture Trustee that all Secured Indebtedness has been fully paid and satisfied, all such payments shall be obligated to pay Lessor a Return on Capital with respect made by wire transfer to the outstanding unpaid amount office of the Fair Market Value Purchase Price. On Indenture Trustee designated in Section 20(c) or before as otherwise designated from time to time in writing by the tenth (10th) day of each calendar month (or if such day is not a Business Day, the next Business Day) following the last day of the Base Term or Renewal Term, as the case may be, until the Fair Market Value Purchase Price is paid in full to Lessor, Lessor shall submit a written invoice to Lessee which shall indicate (i) the total amount outstanding of the Fair Market Value Purchase Price and (ii) the Return on Capital with respect to the total amount outstanding of the Fair Market Value Purchase Price. No later than the thirtieth (30th) day after which Lessee receives each invoice (or if such day is not a Business Day, the next Business Day), Lessee shall pay the amount specified in the invoice to or for the account of Lessor in Dollars.Indenture Trustee;
(iii) Notwithstanding The amount of any provision payment owing to the contrary contained Owner Trustee or the Owner Participant pursuant to Section 7 or 9 of the Participation Agreement (and by incorporation by reference herein, Section 5 hereof) and Section 7 hereof (but, in this Facility Leasethe case of Section 7 hereof, this Section 7.2(conly with respect to public liability insurance) shall survive be made directly to the termination party to receive the same without regard to the assignment of this Facility LeaseLease pursuant to Section 14 hereof; and
(iv) All payments other than those above specified shall be made by the Lessee directly to the party entitled to receive the same. The Lessee agrees that it will make payments due hereunder by wire transfer where specified above in immediately available funds consisting of lawful currency of the United States of America no later than 10:00 A.M. Portland, Oregon time on the date due to the party to whom such payment is to be made to such account in any United States bank as such party may from time to time direct in writing, and where not so specified, such payment shall be made by check of the Lessee drawn on a bank located in the continental United States and mailed to the party to receive the same at the address herein provided or at such other address as the Lessee shall have been previously advised in writing.
Appears in 1 contract
Place and Manner of Payment. (a) All payments of Rent, to be made by the Termination Value and the Fair Market Value Purchase Price payable by Lessee to Lessor under this Facility Lease shall be made by Lessee to or for the account of Lessor as Lessor shall from time to time direct in writing in immediately available funds in Dollars in the amount of such payments on the date when such payments are due.
(b) Neither Lessee’s inability or failure to take possession of all, or any portion, of the Leased Facility when delivered by Lessor, nor Lessor’s inability or failure to deliver all or any portion of the Leased Facility to Lessee, whether or not attributable to any act or omission of Lessee or any act or omission of any other Person (other than Lessor), or for any other reason whatsoever, shall delay or otherwise affect Lessee’s obligation to pay Rent, the Termination Value and/or the Fair Market Value Purchase Price in accordance with the terms of this Facility Lease.
(c) If the Leased Facility is sold to Lessee pursuant to Section 14.4, and the Fair Market Value Purchase Price is greater than thirty percent (30%) of the Approved Amount, then Lessee shall not be obligated to pay the entire amount of such Fair Market Value Purchase Price as of the last day of the Base Term or Renewal Term, as the case may be, but shall be obligated to pay Lessor as follows:
(i) (A) if such Fair Market Value Purchase Price is between thirty percent (30%) and fifty percent (50%) Each installment of Periodic Rent shall be paid to the Owner Trustee by wire transfer to the principal office of the Approved Amount, then Owner Trustee at the address thereof provided for payments in Section 20(c); provided that until the Lessee shall have received notice from the Indenture Trustee that all Secured Indebtedness has been fully paid and satisfied, all such payments shall be obligated made by wire transfer to pay the full amount office of the Fair Market Value Purchase Price Indenture Trustee designated in twenty (20Section 20(c) equal quarterly installments; and (B) if such Fair Market Value Purchase Price is over fifty percent (50%) of or as otherwise designated from time to time in writing by the Approved Amount, then Lessee shall be obligated to pay the full amount of such Fair Market Value Purchase Price in forty (40) equal quarterly installments.Indenture Trustee;
(ii) In addition The entire amount of any payment of Casualty Value or Termination Value pursuant to Section 13, of any payment of the purchase price of the Facility pursuant to Section 19(b), Early Purchase Price pursuant to Section 19(f) or Burdensome Buyout Price pursuant to Section 19(g), and any payment pursuant to Section 15 hereof shall be paid to the repayment Owner Trustee by wire transfer to the principal office of the Fair Market Value Purchase Price, Owner Trustee at the address thereof provided for payments in Section 20(c); provided that until the Lessee shall have received notice from the Indenture Trustee that all Secured Indebtedness has been fully paid and satisfied, all such payments shall be obligated to pay Lessor a Return on Capital with respect made by wire transfer to the outstanding unpaid amount office of the Fair Market Value Purchase Price. On Indenture Trustee designated in Section 20(c) or before as otherwise designated from time to time in writing by the tenth (10th) day of each calendar month (or if such day is not a Business Day, the next Business Day) following the last day of the Base Term or Renewal Term, as the case may be, until the Fair Market Value Purchase Price is paid in full to Lessor, Lessor shall submit a written invoice to Lessee which shall indicate (i) the total amount outstanding of the Fair Market Value Purchase Price and (ii) the Return on Capital with respect to the total amount outstanding of the Fair Market Value Purchase Price. No later than the thirtieth (30th) day after which Lessee receives each invoice (or if such day is not a Business Day, the next Business Day), Lessee shall pay the amount specified in the invoice to or for the account of Lessor in Dollars.Indenture Trustee;
(iii) Notwithstanding The amount of any provision payment owing to the contrary contained Owner Trustee or the Owner Participant pursuant to Section 7 or 9 of the Participation Agreement (and by incorporation by reference herein, Section 5 hereof) and Section 7 hereof (but, in this Facility Leasethe case of Section 7 hereof, this Section 7.2(conly with respect to public liability insurance) shall survive be made directly to the termination party to receive the same without regard to the assignment of this Facility LeaseLease pursuant to Section 14 hereof; and
(iv) All payments other than those above specified shall be made by the Lessee directly to the party entitled to receive the same. The Lessee agrees that it will make payments due hereunder by wire transfer where specified above in immediately available funds consisting of lawful currency of the United States of America no later than 10:00 A.M. Portland, Oregon time on the date due to the party to whom such payment is to be made to such account in any United States bank as such party may from time to time direct in writing, and where not so specified, such payment shall be made by check of the Lessee drawn on a bank located in the continental United States and mailed to the party to receive the same at the address herein provided or at such other address as the Lessee shall have been previously advised in writing.
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