Relocation of System. If Lessee ceases to conduct business operations at and/or vacates the Facility prior to the expiration of the Term, Lessee shall have the option to provide Lessor with a mutually agreeable substitute premises located within the same Utility district as the terminated System. Lessee shall provide written notice at least sixty (60) days but not more than one hundred eighty (180) days prior to the date that it wants to make this substitution. In connection with such substitution, Lessee shall execute an amended agreement that shall have all of the same terms as this Agreement except for the (i) Effective Date; (ii) License, which will be amended to grant rights in the real property where the System relocated to; and (iii) Term, which will be the remainder of the Term of this Agreement and such amended agreement shall be deemed to be a continuation of this Agreement without termination. Lessee shall also provide any new Lessee, owner, lessor or mortgagee consents or releases required by Lessor or Lessor’s Financing Parties in connection with the substitute facility. Lessee shall pay all costs associated with relocation of the System, including all costs and expenses incurred by or on behalf of Lessor in connection with removal of the System from the Facility and installation and testing of the System at the substitute facility and all applicable interconnection fees and expenses at the substitute facility, as well as costs of new title search and other out-of-pocket expenses connected to preserving and refiling the security interests of Lessor’s Financing Parties in the System. Lessor shall reasonably estimate the amount of Environmental Attributes and Environmental Incentives that would have been generated by the System during the period of time the System is not in operation due to the relocation and shall invoice Lessee for any associated lost or recaptured Environmental Incentives and lost sales (and penalties payments associated with the same) of associated Environmental Attributes in accordance with Section 4. Lessor shall remove the System from the vacated Facility prior to the termination of Lessee’s ownership, lease or other rights to use such Facility. Lessor will not be required to restore the Facility to its prior condition but shall promptly pay Lessee for any damage caused by Lessor during removal of the System, but not for normal wear and tear. If the substitute facility has inferior Insolation as compared to the original Facility, Lessor shall have the right to make an adjustment to the Rent to compensate Lessor for the value of any reduction in revenue Lessor incurs as a result in decreased production of Environmental Incentives and/or Environmental Attributes and reduced Tax Credits that Lessor (or, if Lessor is a pass-through entity for tax purposes, Lessor’s owners) receive as a result of the relocation. If Lessee is unable to provide such substitute facility and to relocate the System as provided, any early termination will be treated as a default by Lessee.
Appears in 4 contracts
Samples: Solar Equipment Lease Agreement, Solar Equipment Lease Agreement, Solar Equipment Lease Agreement
Relocation of System. If Lessee Purchaser ceases to conduct business operations at and/or vacates the Facility or is prevented from operating the System at the Facility prior to the expiration of the Term, Lessee Purchaser shall have the option to provide Lessor Seller with a mutually agreeable substitute premises located within the same Utility district as the terminated SystemSystem or in a location with similar Utility rates and Insolation. Lessee Purchaser shall provide written notice at least sixty (60) days but not more than one hundred eighty (180) days prior to the date that it wants to make this substitution. In connection with such substitution, Lessee Purchaser shall execute an amended agreement that shall have all of the same terms as this Agreement except for the (i) Effective Date; (ii) License, which will be amended to grant rights in the real property where the System relocated to; and (iii) Term, which will be the remainder of the Term of this Agreement and such amended agreement shall be deemed to be a continuation of this Agreement without termination. Lessee Purchaser shall also provide any new LesseePurchaser, owner, lessor or mortgagee consents or releases required by Lessor Seller or LessorSeller’s Financing Parties in connection with the substitute facility. Lessee Purchaser shall pay all costs associated with relocation of the System, including all costs and expenses incurred by or on behalf of Lessor Seller in connection with removal of the System from the Facility and installation and testing of the System at the substitute facility and all applicable interconnection fees and expenses at the substitute facility, as well as costs of new title search and other out-of-pocket expenses connected to preserving and refiling the security interests of LessorSeller’s Financing Parties in the System. Lessor shall reasonably estimate the amount of Environmental Attributes and Environmental Incentives that would have been generated by the System during the period of time the System is not in operation due to the relocation and shall invoice Lessee for any associated lost or recaptured Environmental Incentives and lost sales (and penalties payments associated with the same) of associated Environmental Attributes in accordance with Section 4. Lessor Seller shall remove the System from the vacated Facility prior to the termination of LesseePurchaser’s ownership, lease or other rights to use such Facility. Lessor Seller will not be required to restore the Facility to its prior condition but shall promptly pay Lessee Purchaser for any damage caused by Lessor Seller during removal of the System, but not for normal wear and tear. If the substitute facility has inferior Insolation as compared to the original Facility, Lessor Seller shall have the right to make an adjustment to Exhibit 1 such that Purchaser’s payments to Seller are the Rent to compensate Lessor for same as if the value of any reduction in revenue Lessor incurs as a result in decreased production of Environmental Incentives and/or Environmental Attributes and reduced Tax Credits that Lessor (or, if Lessor is a pass-through entity for tax purposes, Lessor’s owners) receive as a result of System were located at the relocationoriginal Facility. If Lessee Purchaser is unable to provide such substitute facility and to relocate the System as provided, any early termination will be treated as a default by LesseePurchaser.
Appears in 1 contract
Samples: Solar Services Agreement
Relocation of System. If Lessee Purchaser ceases to conduct business operations at and/or vacates the Facility or is prevented from operating the System at the Facility prior to the expiration of the Term, Lessee Purchaser shall have the option to provide Lessor Seller with a mutually agreeable substitute premises located within the same Utility district as the terminated SystemSystem or in a location with similar Utility rates and Insolation. Lessee Purchaser shall provide written notice at least sixty (60) days but not more than one hundred eighty (180) days prior to the date that it wants to make this substitution. In connection with such substitution, Lessee Purchaser shall execute an amended agreement that shall have all of the same terms as this Agreement except for the (i) Effective Date; (ii) License, which will be amended to grant rights in the real property where the System relocated to; and (iii) Term, which will be the remainder of the Term of this Agreement and such amended agreement shall be deemed to be a continuation of this Agreement without termination. Lessee Purchaser shall also provide any new LesseePurchaser, owner, lessor or mortgagee consents or releases required by Lessor Seller or LessorSeller’s Financing Parties in connection with the substitute facility. Lessee Purchaser shall pay all costs associated with relocation of the System, including all costs and expenses incurred by or on behalf of Lessor Seller in connection with removal of the System from the Facility and installation and testing of the System at the substitute facility and all applicable interconnection fees and expenses at the substitute facility, as well as costs of new title search and other out-of-pocket expenses connected to preserving and refiling the security interests of LessorSeller’s Financing Parties in the System. Lessor Seller shall reasonably estimate the amount of Environmental Attributes and Environmental Incentives electricity that would have been generated by the System delivered to Purchaser during the period of time the System is not in operation due to the relocation and shall invoice Lessee Purchaser for such amount and any associated lost or recaptured Environmental Incentives and lost sales (and penalties payments associated with the same) of associated Environmental Attributes in accordance with Section 4. Lessor Seller shall remove the System from the vacated Facility prior to the termination of LesseePurchaser’s ownership, lease or other rights to use such Facility. Lessor Seller will not be required to restore the Facility to its prior condition but shall promptly pay Lessee Purchaser for any damage caused by Lessor Seller during removal of the System, but not for normal wear and tear. If the substitute facility has inferior Insolation as compared to the original Facility, Lessor Seller shall have the right to make an adjustment to Exhibit 1 such that Purchaser’s payments to Seller are the Rent to compensate Lessor for same as if the value of any reduction in revenue Lessor incurs as a result in decreased production of Environmental Incentives and/or Environmental Attributes and reduced Tax Credits that Lessor (or, if Lessor is a pass-through entity for tax purposes, Lessor’s owners) receive as a result of System were located at the relocationoriginal Facility. If Lessee Purchaser is unable to provide such substitute facility and to relocate the System as provided, any early termination will be treated as a default by LesseePurchaser.
Appears in 1 contract
Relocation of System. If Lessee ceases to conduct business operations at and/or vacates the Facility prior to the expiration of the Term, Lessee shall have the option to provide Lessor with a mutually agreeable substitute premises located within the same Utility district as the terminated System. Lessee shall provide written notice at least sixty (60) days but not more than one hundred eighty (180) days prior to the date that it wants to make this substitution. In connection with such substitution, Lessee shall execute an amended agreement that shall have all of the same terms as this Agreement except for the (i) Effective Date; (ii) License, which will be amended to grant rights in the real property where the System relocated to; and (iii) Term, which will be the remainder of the Term of this Agreement and such amended agreement shall be deemed to be a continuation of this Agreement without termination. Lessee shall also provide any new Lessee, owner, lessor or mortgagee consents or releases required by Lessor or Lessor’s Financing Parties in connection with the substitute facility. Lessee shall pay all costs associated with relocation of the System, including all costs and expenses incurred by or on behalf of Lessor in connection with removal of the System from the Facility and installation and testing of the System at the substitute facility and all applicable interconnection fees and expenses at the substitute facility, as well as costs of new title search and other out-of-pocket expenses connected to preserving and refiling the security interests of Lessor’s Financing Parties in the System. Lessor shall reasonably estimate the amount of Environmental Attributes and Environmental Incentives that would have been generated by the System during the period of time the System is not in operation due to the relocation and shall invoice Lessee for any associated lost or recaptured Environmental Incentives and lost sales (and penalties payments associated with the same) of associated Environmental Attributes in accordance with Section 4. Lessor shall remove the System from the vacated Facility prior to the termination of LesseeXxxxxx’s ownership, lease or other rights to use such Facility. Lessor will not be required to restore the Facility to its prior condition but shall promptly pay Lessee for any damage caused by Lessor during removal of the System, but not for normal wear and tear. If the substitute facility has inferior Insolation as compared to the original Facility, Lessor shall have the right to make an adjustment to the Rent to compensate Lessor for the value of any reduction in revenue Lessor incurs as a result in decreased production of Environmental Incentives and/or Environmental Attributes and reduced Tax Credits that Lessor (or, if Lessor is a pass-through entity for tax purposes, Lessor’s owners) receive as a result of the relocation. If Lessee is unable to provide such substitute facility and to relocate the System as provided, any early termination will be treated as a default by Lessee.
Appears in 1 contract
Samples: Solar Equipment Lease Agreement
Relocation of System. If Lessee ceases to conduct business operations at and/or vacates the Facility prior to the expiration of the Term, Lessee shall have the option to provide Lessor with a mutually agreeable substitute premises located within the same Utility district as the terminated System. Lessee shall provide written notice at least sixty (60) days but not more than one hundred eighty (180) days prior to the date that it wants to make this substitution. In connection with such substitution, Lessee shall execute an amended agreement that shall have all of the same terms as this Agreement except for the (i) Effective Date; (ii) License, which will be amended to grant rights in the real property where the System relocated to; and (iii) Term, which will be the remainder of the Term of this Agreement and such amended agreement shall be deemed to be a continuation of this Agreement without termination. Lessee shall also provide any new Lessee, owner, lessor or mortgagee consents or releases required by Lessor or Lessor’s Financing Parties in connection with the substitute facility. Lessee shall pay all costs associated with relocation of the System, including all costs and expenses incurred by or on behalf of Lessor in connection with removal of the System from the Facility and installation and testing of the System at the substitute facility and all applicable interconnection fees and expenses at the substitute facility, as well as costs of new title search and other out-of-pocket expenses connected to preserving and refiling the security interests of Lessor’s Financing Parties in the System. Lessor shall reasonably estimate the amount of Environmental Attributes and Environmental Incentives that would have been generated by the System during the period of time the System is not in operation due to the relocation and shall invoice Lessee for any associated lost or recaptured Environmental Incentives and lost sales (and penalties payments associated with the same) of associated Environmental Attributes in accordance with Section 4. Lessor shall remove the System from the vacated Facility prior to the termination of LesseeXxxxxx’s ownership, lease or other rights to use such Facility. Lessor will not be required to restore the Facility to its prior condition but shall promptly pay Lessee for any damage caused by Lessor during removal of the System, but not for normal wear and tear. If the substitute facility has inferior Insolation as compared to the original Facility, Lessor shall have the right to make an adjustment to the Rent to compensate Lessor for the value of any reduction in revenue Lessor incurs as a result in decreased production of Environmental Incentives and/or Environmental Attributes and reduced Tax Credits that Lessor (or, if Lessor is a pass-through entity for tax purposes, Lessor’s owners) receive as a result of the relocation. If Lessee is unable to provide such substitute facility and to relocate the System as provided, any early termination will be treated as a default by Lessee.
Appears in 1 contract
Samples: Solar Equipment Lease Agreement