Power Transfer System Operating Costs Sample Clauses

Power Transfer System Operating Costs. SR Partnership shall be responsible for all expenses, costs and liabilities incurred on or after the date of this Agreement relating to the ownership, construction, operation, repair and maintenance of the Property and the Power Transfer System, except as set forth in Section 4.1.2 below (the "Power Transfer System Operating Costs"). SR Partnership shall pay the Power Transfer System Operating Costs in accordance with Section 4.4 below prior to the time when the failure to pay any such Power Transfer System Operating Costs shall create a lien against the Power Transfer System or the Property, provided however that SR Partnership and the Manager have the right to contest any Power Transfer System Operating Costs in good faith and by appropriate proceedings, provided further that in the event of any such contest, SR Partnership or the Manager shall bond or provide such other security to protect the Power Transfer System and the Property from such lien. Power Transfer System Operating Costs shall include all costs and expenses reasonably incurred in the ownership, construction, operation, repair, maintenance, replacement and removal of the Power Transfer System, costs and expenses reasonably incurred in maintaining the Property, including without limitation, any costs or expenses to be paid by the terms of, or for the preservation of, the documents evidencing the Transmission Line Easements, any costs of acquiring additional easement rights, if necessary, to preserve the Co-Tenants' interest in the Property underlying the Power Transfer System, taxes assessed against or allocable to the Power Transfer System, premiums for casualty insurance thereon, capital expenditures, the costs of utilities and other services necessary to the operation of the Power Transfer System and salaries and benefits allocable to employees of Zond or SR Partnership engaged in the operation, repair and maintenance thereof (but only to the extent such employees are actually engaged in such activities for the benefit of the Power Transfer System), but shall not include costs and expenses set forth in Section 4.1.2 below.
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Related to Power Transfer System Operating Costs

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