Common use of Second Wintergreen Renewal Lease Term Clause in Contracts

Second Wintergreen Renewal Lease Term. Not earlier than 42 months prior to the expiration of the First Wintergreen Renewal Lease Term, unless a Significant Lease Default or a Lease Event of Default shall have occurred and be continuing, the Facility Lessee may deliver to the Owner Lessor notice (which notice may be in addition to a notice of the Facility Lessee's tentative interest in electing an FMV Renewal Lease Term under Section 15.3) of the Facility Lessee's tentative interest in renewing this Facility Lease with respect to Undivided Interest for a term (the "Second Wintergreen Renewal Lease Term" and together with the First Wintergreen Renewal Lease Term, the "Wintergreen Renewal Lease Terms") commencing on the day following the last day of the First Wintergreen Renewal Lease Term and ending on the earlier of (a) the latest date as of which the estimated fair market value of the Undivided Interest determined, by an Independent Appraiser selected by the Facility Lessee and reasonably acceptable to the Owner Lessor, subsequent to the Facility Lessee's tentative election of the Second Wintergreen Renewal Lease Term (but not earlier than 36 months prior to the expiration of the First Wintergreen Renewal Lease Term), shall equal or exceed 20% of the Purchase Price with respect to the Undivided Interest (without taking into account inflation or deflation subsequent to the Closing Date) and (b) the date as of which the sum of the number of years of the proposed Second Wintergreen Renewal Lease Term, the First Wintergreen Renewal Lease Term and the Basic Lease Term shall equal 75% of the estimated economic useful life of the relevant Units and the Colstrip Project as of the Closing Date, as determined by such

Second Wintergreen Renewal Lease Term. Not earlier than 42 forty-two (42) months prior to the expiration of the First Wintergreen Renewal Lease Term, unless a Significant Lease Bankruptcy or Payment Default or a Lease Event of Default shall have occurred and be continuing, the Facility Lessee may deliver to the Owner Lessor notice (which notice may be in addition to a notice of the Facility Lessee's tentative interest in electing an FMV Renewal Lease Term under Section 15.3) of the Facility Lessee's tentative interest in renewing this Facility Lease with respect to Undivided Interest for a term (the "Second Wintergreen Renewal Lease Term" and ------------------------------------- together with the First Wintergreen Renewal Lease Term, the "Wintergreen Renewal ------------------- Lease Terms") commencing on the day following the last day of the First ----------- Wintergreen Renewal Lease Term and ending on the earlier of a date (a) the latest date as of which the estimated fair market value sum of the Undivided Interest determinednumber of years of the proposed Wintergreen Renewal Lease Terms and the Basic Lease Term is not more than the lesser of (x) 49 years, or (y) 75% of the estimated economic useful life of the Facility measured from the Closing Date, but determined by an Independent Appraiser (which Independent Appraiser shall be selected by the Facility Lessee and reasonably acceptable to the Owner Lessor) in accordance with the Appraisal Procedures not more than thirty-six (36) months before the end of the First Wintergreen Renewal Lease Term, and (b) as of which the estimated fair market value of the Facility determined, by such Independent Appraiser, subsequent to the Facility Lessee's tentative election of the Second Wintergreen Renewal Lease Term (but not earlier than 36 thirty-six (36) months prior to the expiration of the First Wintergreen Renewal Lease Term), shall equal or exceed 20% of the Purchase Price (or, if the Facility Lease has been terminated with respect to one Unit, the Undivided Interest Unit Purchase Price of the remaining Unit) (without taking into account inflation or deflation subsequent to the Closing Date). Unless the Facility Lessee shall have irrevocably elected to renew this Facility Lease for a FMV Renewal Lease Term under Section 15.3, and provided that no Lease Bankruptcy or Payment Default or Lease Event of Default shall have occurred and be continuing on such notice date, on or prior to eighteen (18) and (b) months before the date as of which the sum expiration of the number of years of the proposed Second First Wintergreen Renewal Lease Term, the First Facility Lessee may deliver to the Owner Lessor a further notice irrevocably electing to renew this Facility Lease for the Second Wintergreen Renewal Lease Term determined as aforesaid and, subject to neither a Significant Lease Default nor a Lease Event of Default having occurred and continuing on the last day of the Basic Lease Term, the Second Wintergreen Renewal Lease Term shall equal 75% of the estimated economic useful life of the relevant Units and the Colstrip Project thereupon take effect as of the Closing Date, as determined by suchprovided herein.

Second Wintergreen Renewal Lease Term. Not earlier than 42 thirty-six (36) months and not later than twelve (12) months prior to the expiration of the First Wintergreen Renewal Lease Term, unless a Significant Lease Default or a Lease Event of Default shall have occurred and be continuing, the Facility Lessee may deliver to the Owner Lessor written notice (which notice may be in addition to a notice of the Facility Lessee's tentative interest in electing an FMV Renewal Lease Term under Section 15.3) of the Facility Lessee's tentative interest in renewing this Facility Lease with respect to Undivided Interest for a term (the "Second Wintergreen Renewal Lease Term" and together with the First Wintergreen Renewal Lease Term, the "Wintergreen Renewal Lease Terms") commencing on the day following the last day of the First Wintergreen Renewal Lease Term and ending on the earlier of a date (a) as of which the latest date sum of the number of years of the proposed Wintergreen Renewal Lease Terms and the Basic Lease Term is not more than 75% of the estimated economic useful life of the Facility measured from the Closing Date, but determined by an Independent Appraiser (which Independent Appraiser shall be selected by the Lessee and reasonably acceptable to the Owner Lessor) in accordance with the Appraisal Procedure not more than thirty-six (36) months before the end of the First Wintergreen Renewal Lease Term, and (b) as of which the estimated fair market value of the Undivided Interest Facility determined, by an such Independent Appraiser selected by the Facility Lessee and reasonably acceptable to the Owner LessorAppraiser, subsequent to the Facility Lessee's tentative election of the Second Wintergreen Renewal Lease Term (but not earlier than 36 thirty-six (36) months prior to the expiration of the First Wintergreen Renewal Lease Term), shall equal or exceed 20% of the Purchase Price with respect to the Undivided Interest (without taking into account inflation or deflation subsequent to the Closing Date). Unless the Lessee shall have irrevocably elected to renew this Facility Lease for a FMV Renewal Lease Term under Section 15.3, and provided that no Lease Event of Default shall have occurred and be continuing on such notice date, on or prior to twelve (12) and (b) months before the date as of which the sum expiration of the number of years of the proposed Second First Wintergreen Renewal Lease Term, the Lessee may deliver to the Owner Lessor a further notice in writing irrevocably electing to renew this Facility Lease for the Second Wintergreen Renewal Lease Term determined as aforesaid and, subject to no Significant Lease Default or Lease Event of Default having occurred and continuing on the last day of the First Wintergreen Renewal Lease Term and Term, the Basic Second Wintergreen Renewal Lease Term shall equal 75% of the estimated economic useful life of the relevant Units and the Colstrip Project thereupon take effect as of the Closing Date, as determined by suchprovided herein.

Second Wintergreen Renewal Lease Term. Not earlier than 42 months prior to the expiration of the First Wintergreen Renewal Lease Term, unless a Significant Lease Default or a Lease Event of Default shall have occurred and be continuing, the Facility Lessee may deliver to the Owner Lessor notice (which notice may be in addition to a notice of the Facility Lessee's tentative interest in electing an a FMV Renewal Lease Term under Section 15.3) of the Facility Lessee's tentative interest in renewing this Facility Lease with respect to Undivided Interest for a term (the "Second Wintergreen Renewal Lease Term" and together with the First Wintergreen Renewal Lease Term, the "Wintergreen Renewal Lease Terms") commencing on the day following the last day of the First Wintergreen Renewal Lease Term and ending on the earlier of (a) the latest date as of which the estimated fair market value of the Undivided Facility Interest determined, determined pursuant to the Appraisal Procedure by an Independent Appraiser selected by the Facility Lessee and reasonably acceptable to the Owner Lessor, subsequent to the Facility Lessee's tentative election of the Second Wintergreen Renewal Lease Term (but not earlier than 36 months prior to the expiration of the First Wintergreen Renewal Lease Term), shall equal or exceed 20% of the Purchase Price with respect to the Undivided Interest (without taking into account inflation or deflation subsequent to the Closing Date) and (b) the date as of which the sum of the number of years of the proposed Second Wintergreen Renewal Lease Term, the First Wintergreen Renewal Lease Term and the Basic Lease Term shall equal 75% of the estimated economic useful life of the relevant Units and the Colstrip Project as of the Closing Date, Facility as determined by suchsuch Independent Conemaugh Facility Lease 39 44