Common use of Right to Discontinue Operation of Project Clause in Contracts

Right to Discontinue Operation of Project. Although the Company intends to operate, or cause to be operated, the Project for its designed purposes until the date on which no Bonds are Outstanding, subject to the provisions of Section 6.10 hereof, the Company is not required by this Loan Agreement to operate, or cause to be operated, any portion of the Project after the Company shall deem in its sole discretion that such continued operation is not advisable and in such event it is not prohibited by this Loan Agreement from selling, leasing or retiring all or any such portion of the Project. Subject to the provisions of Section 6.10 hereof, the net proceeds from such sale, lease or other disposition, if any, shall belong to, and may be used for any lawful purpose by, the Company. Upon discontinuance of operation of the Project in accordance with this Section 4.6, the Company shall be discharged from its obligations to insure, maintain and repair the Project or to cause the Project to be insured, maintained and repaired as set forth in Sections 4.4 and 4.5 hereof.

Right to Discontinue Operation of Project. Although the Company Borrower intends to operate, or cause to be operated, the Project for its designed purposes until the date on which no Bonds are Outstandingoutstanding, subject to the provisions of Section 6.10 5.3 hereof, the Company Borrower is not required by this Loan Agreement to operate, or cause to be operated, any portion of the Project after the Company Borrower shall deem in its sole discretion that such continued operation is not advisable advisable, and in such event it is not prohibited by this Loan Agreement from sellingthe Borrower may sell, leasing lease or retiring retire all or any such portion of the Project. Subject to the provisions of Section 6.10 5.3 hereof, the net proceeds from such sale, lease or other disposition, if any, shall belong to, and may be used for any lawful purpose by, the CompanyBorrower. Upon discontinuance of operation of the Project in accordance with this Section 4.65.7, the Company Borrower shall be discharged from its obligations to insure, maintain and repair the Project or to cause the Project to be insured, maintained and repaired as set forth in Sections 4.4 5.5 and 4.5 5.6 hereof.