Purchase of the Plant Sample Clauses

Purchase of the Plant. The Parties agree that only Aladdin, for so long as it is a member of the Management Committee hereunder and has not been deemed to have automatically lost its voting rights and rights to control pursuant to the provisions of Article 4 hereof, shall be the Controlling Party and have the right to initiate the purchase of the Plant pursuant to Section 6.4 and Section 9.3 of the Energy Service Agreements, provided, however, that if there is a Service Default (as defined in Bazaar's Energy Service Agreement) with respect to any Party's Energy Services and Aladdin does not exercise the remedies requested by such Party and provided as of the date hereof under Sections 6.1 and 6.4 of Aladdin's Energy Service Agreement, then such Party shall have its rights and remedies under Sections 6.1 and 6.4 of its Energy Service Agreement and, if it elects to pursue such rights, shall be deemed to be the Controlling Party under this Agreement for purpose of exercising such rights. Each other Party hereunder shall have the right to elect to participate in such purchase, as provided herein. If Aladdin has been deemed to have automatically lost its voting rights and rights to control pursuant to the provisions of Article 4 hereof, then the Party who is the successor to Aladdin as Controlling Party shall have the exclusive right to initiate such purchase while it remains a Party. If there is more than one Party other than Aladdin, the foregoing provisions thereafter shall apply as among such Parties. Subject to Aladdin's exclusive right set forth above, the following provisions shall apply to any purchase of the Plant: (a) In the event one or more Parties (collectively, the "Acquiring Party") elect to acquire the Plant pursuant to Section 6.4 of its Energy Service Agreement, the Acquiring Party shall notify in writing the other Party or Parties (collectively, the "Non-Acquiring Party") at least twenty one (21) days prior to notifying the Energy Provider of its intention to purchase the Plant (such notice a "Purchase Notice"). The Non-Acquiring Party shall be afforded the opportunity to acquire and share on a pro rata basis in the ownership of the Plant based upon the Parties' respective Party Investment Percentages and shall respond in writing to the Acquiring Party as to whether it intends to join the Acquiring Party in acquiring the Plant within seven (7) days of receiving the Purchase Notice. The form of ownership of the Plant shall be determined, at the time of acquisition, ...

Purchase of the Plant. Synallagmatic promise of sale and purchase The Parties agree that with effect from the Lease Expiry Date, provided the Client is not in default under the Agreement, the Contractor shall sell and the Client shall purchase the Plant from the Contractor for the Purchase Price. The payment of the Purchase Price by the Client to the Contractor shall be deferred. The Purchase Price shall be payable in instalment payments deducting the Monthly Rental Fee in such amounts and at such intervals as set out in Annex I during the Lease Term. Subject to full payment of the Purchase Price, the legal title to the Plant shall pass to the Client with effect from the Lease Expiry Date and the Contractor shall take all actions as required to transfer legal and beneficial title to the Plant to the Client with effect from the Lease Expiry Date (the Ownership Transfer Date). It is agreed and acknowledged by the Parties that any such purchase shall be on an as-is, where-is basis, provided that the Contractor shall: take all steps to release, discharge and de-register any security or encumbrance created in respect of the Plant; and assign to the Customer any manufacturers warranties that are in effect as of the date of purchase, and which are assignable pursuant to their terms. Defaults and Termination4 A default of the Contractor means the occurrence of any of the following: The failure to provide to the Client the right to use the Plant for a continuous period of [fifteen (15)] days during the Lease Term; Continuous abandonment of construction of the Plant by the Contractor without the written consent of the Client; Passage of a resolution by the shareholders of the Contractor for the winding up of the Contractor except when taken for the purpose of merger or reorganization (provided that such reorganization does not affect the ability of the merged or reorganized entity to perform its obligations under the Agreement); appointment of a liquidator in a procedure for the winding up of the Contractor, after notice to the Contractor and due hearing; or a court order wind up of the Contractor; Any substantial and continuous material breach by the Contractor of any representation, warranty, undertaking, or obligation under the Agreement. A default of the Client means the occurrence of any of the following: Failure to pay an invoice following the Due Date (see Section 16.1), and such failure continues for a period of [fifteen (15)] Business Days upon delivery of a written notice on suc...

Purchase of the Plant. 19Synallagmatic promise of sale and purchase The Parties agree that with effect from the Lease Expiry Date, provided the Client is not in default under the Agreement, the Contractor shall sell and the Client shall purchase the Plant from the Contractor for the Purchase Price.

Purchase of the Plant. You are entitled, at any time, to make an offer to purchase the Plant from us. To the extent that your purchase of the Plant is concluded and the purchase price therefor received by us, this Agreement shall terminate subject to your payment of any amounts owing and accrued as at the date of termination. The terms of the purchase shall be subject to clause 25 below.