Common use of Remedies for Lease Event of Default Clause in Contracts

Remedies for Lease Event of Default. Upon the occurrence of any Lease Event of Default and at any time thereafter so long as the same shall be continuing, the Owner Lessor may, at its option, declare this Facility Lease to be in default by written notice to the Facility Lessee (provided, that this Facility Lease shall automatically be in default without the need for giving any notice upon the occurrence of a Lease Event of Default in clause (g) or (h) of Section 17); and at any time thereafter, so long as the Facility ---------- Lessee shall not have remedied all outstanding Lease Events of Default, the Owner Lessor may, at the Facility Lessee's sole cost and expense, do one or more of the following as the Owner Lessor in its sole discretion shall elect, to the extent permitted by, and subject to compliance with any mandatory Requirements of Law then in effect:

Appears in 2 contracts

Samples: Facility Lease Agreement (Mirant Mid Atlantic LLC), Facility Lease Agreement (Mirant Mid Atlantic LLC)

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Remedies for Lease Event of Default. Upon the occurrence of any Lease Event of Default and at any time thereafter so long as the same shall be continuing, the Owner Lessor may, at its option, declare this Facility Lease to be in default by written notice to the Facility Lessee Lessee; provided that upon the occurrence of a Lease Event of Default described in paragraph (providedg) or (h) of Section 16, that this Facility Lease shall automatically be deemed to be in default without the need for giving any notice upon the occurrence of a Lease Event of Default in clause (g) or (h) of Section 17)notice; and at any time thereafter, so long as the Facility ---------- Lessee shall not have remedied all outstanding Lease Events of Default, the Owner Lessor may, at the Facility Lessee's sole cost and expense, may do one or more of the following as the Owner Lessor in its sole discretion shall elect, to the extent permitted by, and subject to compliance with any mandatory Requirements of requirements of, Applicable Law then in effect:

Appears in 2 contracts

Samples: Facility Lease Agreement (PPL Montana LLC), Facility Lease Agreement (PPL Montana LLC)

Remedies for Lease Event of Default. Upon the occurrence of any Lease Event of Default and at any time thereafter so long as the same shall be continuing, the Owner Lessor may, at its option, declare this Facility Lease to be in default by written notice to the Facility Lessee (providedPROVIDED, that this Facility Lease shall automatically be in default without the need for giving any such declaration or delivery of such notice upon the occurrence of a Lease Event of Default in clause (gf) or (hg) of Section 1716); and at any time thereafter, so long as the Facility ---------- Lessee shall not have remedied all outstanding Lease Events of Default, the Owner Lessor may, at the Facility Lessee's sole cost and expense, may do one or more of the following as the Owner Lessor in its sole discretion shall elect, to the extent permitted permit xxx by, and subject to compliance with any mandatory Requirements of Law then in effecteffect and subject to Section 17.2 below:

Appears in 1 contract

Samples: Facility Lease Agreement (Edison Mission Energy)

Remedies for Lease Event of Default. Upon the occurrence of any Lease Event of Default and at any time thereafter so long as the same shall be continuing, the Owner Lessor may, at its option, declare this Facility Lease to be in default by written notice to the Facility Lessee (providedPROVIDED, that this Facility Lease shall automatically be in default without the need for giving any such declaration or delivery of such notice upon the occurrence of a Lease Event of Default in clause (gf) or (hg) of Section 1716); and at any time thereafter, so long as the Facility ---------- Lessee shall not have remedied all outstanding Lease Events of Default, the Owner Lessor may, at the Facility Lessee's sole cost and expense, may do one or more of the following as the Owner Lessor in its sole discretion shall elect, to the extent permitted by, and subject to compliance with any mandatory Requirements of Law then in effecteffect and subject to Section 17.2 below:

Appears in 1 contract

Samples: Lease Agreement (Edison Mission Energy)

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Remedies for Lease Event of Default. Upon the occurrence of any Lease Event of Default and at any time thereafter so long as the same shall be continuing, the Owner Lessor may, at its option, declare this Facility Lease to be in default by written notice to the Facility Lessee (providedprovided that upon the occurrence of a Lease Event of Default described in paragraph (g) or (h) of Section 16, that this Facility Lease shall automatically be deemed to be in default without the need for giving any notice upon the occurrence of a Lease Event of Default in clause (gnotice) or (h) of Section 17); and at any time thereafter, so long as the Facility ---------- Lessee shall not have remedied all outstanding Lease Events of Default, the Owner Lessor may, at the Facility Lessee's sole cost and expense, may do one or more of the following as the Owner Lessor in its sole discretion shall elect, to the extent permitted by, and subject to compliance with any mandatory Requirements of requirements of, Applicable Law then in effect:

Appears in 1 contract

Samples: Facility Lease Agreement (Reliant Energy Mid Atlantic Power Services Inc)

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