Provider as Owner and Operator. The System will be owned by Provider or Provider’s Financing Party and will be operated and maintained and, as necessary, repaired by Provider at its sole cost and expense; provided, that any repair or maintenance costs incurred by Provider as a result of Purchaser’s negligence or breach of its obligations hereunder shall be reimbursed by Purchaser.
Provider as Owner and Operator. The System will be owned and operated by or for Provider at its sole cost and expense. “System Operation” means all actions, including monitoring and maintaining a System, necessary for Provider to fulfill its covenants under this Agreement. Any repair or maintenance of a System will be promptly completed by or for Provider, at its sole cost and expense, for Provider’s benefit as legal and beneficial owner of a System, to the extent that such repair or maintenance is not directly attributable to the gross negligence or willful misconduct of Host.
Provider as Owner and Operator. Unless Purchaser purchases the System in accordance with this Agreement, Purchaser shall have no ownership rights in the System and is only entitled to purchase Electricity. The System will be owned by Provider and operated by, or for, Provider at Provider’s sole cost and expense. The System shall not attach to or be deemed a part of, or a fixture to, the Premises. The System shall at all times retain the legal status of personal property of Provider, and Provider shall pay any personal property, assessments or charges owed with respect to the System. Any repair or maintenance of the System will be completed by or for Provider, at its sole cost and expense, for Provider’s benefit as legal and beneficial owner of the System. Provider shall be entitled to, and is hereby authorized to, file one or more precautionary UCC Financing Statements or fixture filings, as applicable, in such jurisdictions as it deems appropriate with respect to the System in order to protect its rights in the System. Purchaser will not take a position on any tax return or in other filings suggesting that it is anything other than a purchaser of Electricity from the System and Provider shall retain title to any tax credits associated with the ownership of the System that may be available under federal or state law. The Parties intend this Agreement to be treated as a “service contract” within the meaning of Section 7701(e)(3) of the Internal Revenue Code. The Parties intend that neither Purchaser nor any party related to Purchaser shall acquire the right to operate any System or be deemed to operate any System for purposes of Section 7701(e)(4)(A)(i) of the Code, as amended, and the terms of this Agreement shall be construed consistently with the intention of the Parties.
Provider as Owner and Operator. The Systems will be owned or leased by a Provider and will be installed, operated and maintained and, as necessary, repaired and removed, by Provider at its sole cost and expense, consistent with Good Industry Practice.
