Representations of the Lessee. The Lessee represents and ----------------------------- warrants to each of the other parties hereto that:
Representations of the Lessee. The Lessee represents and warrants to each of the other parties hereto that:
Representations of the Lessee. Effective as of the date of execution hereof and as of the Closing Date, the Lessee represents and warrants to each of the other parties hereto as follows:
Representations of the Lessee. As of the date hereof, Lessee represents and warrants as follows:
(a) all representations and warranties set forth in the Participation Agreement and Lease, as amended by this Amendment, are true and correct as of the date hereof and are incorporated herein by reference with the same force and effect as though herein set forth in full; and
(b) no Lease Default or Lease Event of Default exists.
Representations of the Lessee. The Lessee represents, covenants and warrants to the District as follows: The Lessee is duly organized and existing under the laws of the State of California, with an active California contractor’s license. It has full power and authority to enter into this Site Lease and the Facilities Lease; is possessed of full power to own and hold real and personal property, to lease and sell the same, and to perform all of its duties and obligations hereunder; and has duly authorized the execution and delivery of all of the aforesaid agreements. Lessee is aware of no action, suit, proceeding, inquiry, or investigation pending or threatened in any court or in any federal, state, or municipal administrative body which, if determined adversely to Lessee or its interests, would have a material and adverse effect upon Lessee’s ability to consummate or perform the transactions and obligations contemplated by, or validity of, this Lease or the Facilities Lease. Lessee is not in default with respect to any order or decree of any court or any order, regulation, or demand of any federal, state, or municipal administrative body which default might have consequences that would have a material and adverse effect upon Lessee’s ability to consummate or perform the transactions and obligations contemplated by, or validity of, this Lease or the Facilities Lease. Neither the execution and delivery of this Site Lease or the Facilities Lease, nor the fulfillment of or compliance with the terms and conditions hereof or thereof, nor the consummation of the transactions contemplated hereby or thereby, conflicts with or results in a breach of the terms, conditions or provisions of any restriction or any agreement or instrument to which the Lessee is now a party or by which the Lessee is bound, or constitutes a default under any of the foregoing, or results in the creation or imposition of any lien, charge or encumbrance whatsoever upon any of the property or assets of the Lessee, or upon the Site, except Permitted Encumbrances.
Representations of the Lessee. The Lessee represents and warrants to Lessor as follows:
Representations of the Lessee. The Lessee represents and warrants that (i) all representations and warranties set forth in the Lease, as amended, are true and correct as of the date hereof and are incorporated herein by reference with the same force and effect as though herein set forth in full and (ii) no Lease Default or Lease Event of Default exists.
Representations of the Lessee. Effective as of the date of execution hereof, as of the Closing Date, and as of each Parcel Closing Date, the Lessee represents and warrants to each of the other parties hereto as follows:
Representations of the Lessee. The Lessee hereby represents and warrants to each Participant and the Agent that:
Representations of the Lessee. The Lessee hereby represents and warrants to the Owner Participant as follows:
(i) the License Expiration Date is April 24, 2046; and
(ii) based on current market conditions and the current operation and maintenance of Unit 2 and the Common Facilities, it is reasonably expected that:
(1) on the last day of the Fixed Rate Renewal Term, the residual value of the Undivided Interest shall be equal to at least 20% of Facility Cost (without regard to inflation or deflation from the Closing Date) determined by taking into consideration the obligation of the Lessee to pay decommissioning costs pursuant to Section 10(b)(3)(viii) of the Participation Agreement, the existence and effect of the Assignment and Assumption, the ANPP Participation Agreement and the License;
(2) the period from the Closing Date through the end of the Fixed Rate Renewal Term does not exceed 80% of the economic useful life of the Undivided Interest from the Closing Date; and
(3) on the last day of the Fixed Rate Renewal Term, taking into consideration the existence and effect of the Assignment and Assumption, the ANPP Participation Agreement and the License, the use of the Undivided Interest by any User (in a transaction pursuant to which the Owner Participant could realize the amount referred to in clause (1) above) will be feasible from an engineering and economic point of view and will be commercially reasonable. The foregoing representations and warranties are intended by the Lessee as representations and warranties made by the Lessee in an agreement delivered by the Lessee in connection with the Facility Lease for all purposes of the Facility Lease (including, without limitation Section 15(vi) of the Facility Lease).
