Common use of Removal of, Substitution and Replacement for Equipment Clause in Contracts

Removal of, Substitution and Replacement for Equipment. If the User in its sole discretion determines that any item of Equipment has become inadequate, obsolete, worn-out, unsuitable, undesirable or unnecessary in the operation of the Project, the User may remove such Equipment from the Improvements or the Project Site and (on behalf of the Issuer) sell, trade in, exchange or otherwise dispose of it without any responsibility or accountability to the Issuer or the Trustee therefor, provided that the User shall either: