Public Authorities Law Representations. The parties hereto hereby acknowledge and agree that the Facility and the interest therein to be conveyed by this Lease Agreement are not “Property” as defined in Article 9, Title 5-A of the Public Authorities Law of the State because the Facility and the leasehold interests therein are securing the financial obligations of the Company. The Facility and the leasehold interests therein secure the obligations of the Company to the Agency under this Lease Agreement, including the Company’s obligation to acquire and maintain the Facility and complete the Project Work on behalf of the Agency and the Company’s obligation to indemnify and hold harmless the Agency.
Public Authorities Law Representations. The parties hereto hereby acknowledge and agree that the Facility and the interest therein to be conveyed by this Lease Agreement are not “Property” as defined in Article 9, Title 5-A of the Public Authorities Law of the State because the Facility and the interests therein are securing the financial obligations of the Company. The Facility and the interests therein secure the Company’s obligations to the Agency under the Environmental Compliance and Indemnification Agreement, the Recapture Agreement and this Lease Agreement, including the Company’s obligation to acquire, construct, install, furnish, equip and maintain the Facility on behalf of the Agency and the Company’s obligation to indemnify and hold harmless the Agency.
Public Authorities Law Representations. The parties hereto hereby acknowledge that the Facility and the interest therein conveyed to the Agency under the Lease Agreement, dated as of October 24, 2024, by and between the Company and the Agency (the "Lease Agreement") and conveyed by the Agency back to the Company pursuant to the terms of this Leaseback Agreement is not "property" as defined in Article 9, Title 5-A of the Public Authorities Law of the State because the Facility and the leasehold interests therein are securing the Company’s obligations to the Agency under this Leaseback Agreement, including (i) the Company’s obligation to acquire, construct renovate, equip and maintain the Facility on behalf of the Agency and (ii) the performance by the Company of the Unassigned Rights.
Public Authorities Law Representations. The parties hereto
Public Authorities Law Representations. The parties hereto hereby acknowledge and agree that the Facility and the interest therein to be conveyed by this Lease Agreement are not “Property” as defined in Article 9, Title 5-A of the Public Authorities Law of the State because the Facility and the leasehold interests therein are securing the financial obligations of the Company. The Facility and the leasehold interests therein secure the obligations of the Company to the Agency under this Lease Agreement, including the Company’s obligation to acquire and maintain the Facility and the Company’s obligation to indemnify and hold harmless the Agency.
Public Authorities Law Representations. The parties hereto hereby acknowledge and agree that the Facility and the interest therein to be conveyed by this Lease Agreement, are not "Property" as defined in Article 9, Title 5-A of the Public Authorities Law of the State because the Facility and the interests therein are securing the financial obligations of the Company. It is hereby acknowledged that the Facility and the leasehold interest therein have been pledged to secure the loan to the Company from the 2008 Lender. The Facility and the interests therein secure the Company's obligations to the Agency under the PTLOT Agreement, the Environmental Compliance and Indemnification Agreement, and the Lease Agreement, including the Company's obligation to indemnify and hold harmless the Agency.
Public Authorities Law Representations. The parties hereto hereby acknowledge and agree that the Phase 2B Facility and the interest therein to be conveyed by this Lease Agreement are not “Property” as defined in Article 9, Title 5-A of the Public Authorities Law of the State because the Phase 2B Facility and the leasehold interests therein are securing the financial obligations of the Company. The Phase 2B Facility and the leasehold interests therein secure the obligations of the Company to the Agency under this Lease Agreement, including the Company’s obligation to acquire and maintain the Phase 2B Facility and complete the Project Work on behalf of the Agency and the Company’s obligation to indemnify and hold harmless the Agency.
Public Authorities Law Representations. The parties hereto hereby acknowledge and agree that the Real Estate Owner Project Facility and the interest therein to be conveyed by this Lease Agreement are not “Property” as defined in Article 9, Title 5-A of the Public Authorities Law of the State because the Real Estate Owner Project Facility and the interests therein are securing the financial obligations of the Real Estate Owner. The Real Estate Owner Project Facility and the interests therein secure the obligations of the Real Estate Owner to the Agency under the Payment in Lieu of Tax Agreement and this Lease Agreement, including the Real Estate Owner’s obligation to acquire, construct, equip and maintain the Real Estate Owner Project Facility on behalf of the Agency and the Real Estate Owner’s obligation to indemnify and hold harmless the Agency.
Public Authorities Law Representations. The parties hereto hereby acknowledge that the Facility and .the interest therein conveyed to the Agency under the Lease Agreement, dated as of the date hereof, by and between the Company and the Agency (the "Lease Agreement") and conveyed by the Agency back to the Company pursuant to the terms of this Leaseback Agreement are not "property" as defined in Title 5-A of the Public Authorities Law of the State because the Facility and the leasehold interests therein are securing the Company's obligations to the Agency under the PILOT Agreement, the Environmental Compliance Agreement and this Leaseback Agreement, including (i) the Company's obligation to acquire, construct, equip and maintain the Facility on behalf of the Agency and (ii) the performance by the Company of the Unassigned Rights.
Public Authorities Law Representations. The parties hereto hereby acknowledge that the Facility and the interest therein conveyed to the Agency under the Lease Agreement, dated as of the date hereof, by and between the Company and the Agency (the “Lease Agreement”) and conveyed by the Agency back to the Company pursuant to the terms of this Leaseback Agreement is not a “Disposal” of property as defined in Title 5-A of the Public Authorities Law of the State because title to the property is not being transferred from the Agency to the Company and/or the beneficial interest in the property will remain with the Company.
