Sale of Membership Interests and Closing. 11 2.01 Purchase and Sale 11 2.02 Payment of Purchase Price 11 2.03 Closing 11 2.04 Aggregate Net Working Capital Adjustment Amount 12 ARTICLE 3 REPRESENTATIONS AND WARRANTIES OF SELLER 15 3.01 Existence 15 3.02 Authority 15 3.03 No Consent 15 3.04 No Conflicts 15 3.05 Regulatory Matters 15 3.06 Legal Proceedings 16 3.07 Brokers 16 3.08 Compliance with Laws 16 3.09 HoldCo and the Subsidiary 16 3.10 No Undisclosed Liabilities 17 3.11 Taxes 17 3.12 Employees 19 3.13 The Company Contracts 19 3.14 Real Property 20 3.15 Title Policy 20 3.16 Environmental 20 3.17 Permits 21 3.18 Affiliate Transactions 22 3.19 Intellectual Property 22 3.20 Insurance 22 3.21 Financial Statements 23 (continued) ii TABLE OF CONTENTS (continued)
Sale of Membership Interests and Closing. 15 2.01 Purchase and Sale 15 2.02 Payment of Purchase Price 15 2.03 Closing 16 2.04 Replacement of Support and Affiliate Obligations 16
Sale of Membership Interests and Closing. 2.01 Purchase and Sale 13 2.02 Payment of Purchase Price 14 2.03 Closing 14 2.04 Aggregate Net Working Capital Adjustment Amount 15 2.05 Tested Capacity Adjustment Amount 18 2.06 Tested Heat Rate Adjustment Amount 18 2.07 Insurance Premium Adjustment 18 2.08 VWAP Adjustment 18 2.09 CSA Adjustment 19 2.10 O&M Adjustment. 19 ARTICLE 3 REPRESENTATIONS AND WARRANTIES OF SELLER 3.01 Existence 20 3.02 Authority 20 3.03 No Consent 20 3.04 No Conflicts 20 3.05 Regulatory Matters 20 3.06 Legal Proceedings 20 3.07 Brokers 21 3.08 Compliance with Laws 21 3.09 Holdco and the Project Company 21 3.10 No Undisclosed Liabilities 22 3.11 Taxes 22 3.12 Employees 24 3.13 The Company Contracts 24 3.14 Real Property 25 3.15 Title Policy 26 3.16 Environmental 26 3.17 Permits 26 3.18 Affiliate Transactions 27 3.19 Intellectual Property 27 3.20 Insurance 28 TABLE OF CONTENTS (continued) 3.21 Financial Statements 28 3.22 Absence of Changes 28 3.23 Sufficiency of Assets; Tangible Personal Property 29 3.24 Bank Accounts 30 3.25 Regulatory Status 30 3.26 Support Obligations 30 3.27 Disclosures 30 3.28 Projections 30 3.29 No Other Warranties 30 ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF PURCHASER 4.01 Existence 31 4.02 Authority 31 4.03 No Consent 31 4.04 No Conflicts 31 4.05 Permits and Filings 32 4.06 Legal Proceedings 32 4.07 Purchase for Investment 32 4.08 Brokers 32 4.09 Governmental Approvals 32 4.10 Compliance with Laws 32 4.11 Due Diligence 32 ARTICLE 5 COVENANTS OF SELLER 5.01 Regulatory and Other Permits 33 5.02 Access to Information 33 5.03 Notification of Certain Matters 33 5.04 Conduct of Business 34 5.05 Insurance Claims 37 5.06 Casualty Loss 37 5.07 Seller Parent Guaranty. 38 5.08 Fulfillment of Conditions 38 5.09 Further Assurances 38 5.10 Reports 38 ARTICLE 6 COVENANTS OF PURCHASER 6.01 Regulatory and Other Permits 39 6.02 Fulfillment of Conditions 39 ii TABLE OF CONTENTS (continued) 6.03 Further Assurances 39 6.04 NYLD Acquisition Agreement Support. 39
Sale of Membership Interests and Closing
