Common use of Seller’s Obligations Clause in Contracts

Seller’s Obligations. If the System is damaged or destroyed other than by Purchaser’s gross negligence or willful misconduct, Seller shall promptly repair and restore the System to its pre-existing condition; provided, however, that if more than fifty percent (50%) of the System is destroyed during the last five (5) years of the Initial Term or during any Additional Term, Seller shall not be required to restore the System, but may instead terminate this Agreement, unless Purchaser agrees (A) to pay for the cost of such restoration of the System or (B) to purchase the System “AS-IS” at the greater of (1) the Fair Market Value of the System and (2) the sum of the amounts described in Section 14.b.iii.(A)(1) and Section 14.b.iii.(A)(3).

Appears in 2 contracts

Samples: Solar Power Purchase Agreement, Solar Power Purchase Agreement

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Seller’s Obligations. If the System is damaged or destroyed other than by Purchaser’s gross negligence or willful misconduct, Seller shall promptly repair and restore the System to its pre-existing condition; provided, however, that if more than fifty percent (50%) of the System is destroyed during the last five (5) years of the Initial Term or during any Additional Term, Seller shall not be required to restore the System, but may instead terminate this Agreement, unless Purchaser agrees (A) to pay for the cost of such restoration of the System or (B) to purchase the System “AS-IS” at the greater of (1) the Fair Market Value of the System and (2) [the sum of the amounts described in Section 14.b.iii.(A)(113.b.iii(1)A)(1) and Section 14.b.iii.(A)(313.b.iii(1)A)(3)] [for any given Contract Year, the amount set forth on Exhibit 4, Attachment A attached hereto].

Appears in 2 contracts

Samples: Solar Power Purchase Agreement, Solar Power Purchase Agreement

Seller’s Obligations. If the System is damaged or destroyed other than by Purchaser’s gross negligence or willful misconduct, Seller shall promptly repair and restore the System to its pre-pre- existing condition; provided, however, that if more than fifty percent (50%) of the System is destroyed during the last five (5) years of the Initial Term or during any Additional Term, Seller shall not be required to restore the System, but may instead terminate this Agreement, unless Purchaser agrees (Ai) to pay for the cost of such restoration of the System or (Bii) to purchase the System “AS-IS” at the greater of (1A) the Fair Market Value then current fair market value of the System and (2B) the sum of the amounts described in Section 14.b.iii.(A)(113.b(3)A)(i) (using the date of purchase to determine the appropriate Contract Year) and Section 14.b.iii.(A)(313.b(3)A)(iii).

Appears in 2 contracts

Samples: Performance Guarantee Agreement (Ppa), Solar Power Purchase Agreement

Seller’s Obligations. If the System is damaged or destroyed other than by Purchaser’s gross negligence or willful misconduct, Seller shall promptly repair and restore the System to its pre-existing condition; provided, however, that if more than fifty percent (50%) of the System is destroyed during the last five (5) years of the Initial Term or during any Additional Term, Seller shall not be required to restore the System, but may instead terminate this Agreement, unless Purchaser agrees (A) to pay for the cost of such restoration of the System or (B) to purchase the System “AS-IS” at the greater of (1) the Fair Market Value of the System and (2) [the sum of the amounts described in Section 14.b.iii.(A)(113(b)(iii)(A)(1) and Section 14.b.iii.(A)(313.b(iii)(A)(3)] [for any given Contract Year, the amount set forth on Exhibit 4, Attachment A attached hereto].

Appears in 2 contracts

Samples: Solar Power Purchase Agreement, Solar Power Purchase Agreement

Seller’s Obligations. If the System is damaged or destroyed other than by Purchaser’s gross negligence or willful misconduct, Seller shall promptly repair and restore the System to its pre-existing condition; provided, however, that if more than fifty percent (50%) of the System is destroyed during the last five (5) years of the Initial Term or during any Additional Term, Seller shall not be required to restore the System, but may instead (A) terminate this Agreement, unless Purchaser agrees (A) to pay for the cost of such restoration of the System or (B) to purchase with Purchaser’s consent, sell the System to Purchaser on an “AS-IS” at basis for the greater of (1) the Fair Market Value of the System and (2) for any given Contract Year, the sum amount set forth on Exhibit 4, Attachment A attached hereto, in which case this Agreement shall terminate upon the closing of the amounts described in Section 14.b.iii.(A)(1) and Section 14.b.iii.(A)(3).such sale

Appears in 1 contract

Samples: Solar Power Purchase Agreement

Seller’s Obligations. If the System is damaged or destroyed other than by Purchaser’s gross negligence or willful misconduct, Seller shall promptly repair and restore the System to its pre-existing condition; provided, however, that if more than fifty percent (50%) of the System is destroyed during the last five (5) years of the Initial Term or during any Additional Term, Seller shall not be required to restore the System, but may instead terminate this Agreement, unless Purchaser agrees (A) to pay for the cost of such restoration of the System or (B) to purchase the System “AS-IS” at the greater of (1i) the Fair Market Value of the System and (2ii) the sum of the amounts described in Section 14.b.iii.(A)(114.b.iii.A(1) and Section 14.b.iii.(A)(314.b.iii.A(3).

Appears in 1 contract

Samples: Solar Power Purchase Agreement

Seller’s Obligations. If the System is damaged or destroyed other than by Purchaser’s gross negligence or willful misconduct, Seller shall promptly repair and restore the System to its pre-existing condition; provided, however, that if more than fifty percent (50%) of the System is destroyed during the last five (5) years of the Initial Term or during any Additional Term, Seller shall not be required to restore the System, but may instead terminate this Agreement, unless Purchaser agrees (A) to pay for the cost of such restoration of the System or (B) to purchase the System “AS-IS” at the greater of (1) the Fair Market Value of the System and (2) the sum of the amounts described in Section 14.b.iii.(A)(122(b)(iii)(A)(1) and Section 14.b.iii.(A)(322(b)(iii)(A)(3).

Appears in 1 contract

Samples: Solar Power Purchase Agreement

Seller’s Obligations. If the System is damaged or destroyed other than by Purchaser’s gross negligence or willful misconduct, Seller shall promptly repair and restore the System to its pre-existing condition; provided, however, that if more than fifty percent (50%) of the System is destroyed during the last five (5) years of the Initial Term or during any Additional Term, Seller shall not be required to restore the System, but may instead terminate this Agreement, unless Purchaser agrees (A) to pay for the cost of such restoration of the System or (B) to purchase the System “AS-IS” at the greater of (1) the Fair Market Value of the System and (2) the sum of the amounts described in Section 14.b.iii.(A)(114.b.iii.A(1) and Section 14.b.iii.(A)(314.b.iii.A(3). In each case (A) and (B) shall be reduced by the amount of any insurance proceeds available to Seller.

Appears in 1 contract

Samples: Solar Power Purchase Agreement

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Seller’s Obligations. If the System is damaged or destroyed other than by Purchaser’s gross negligence or willful misconduct, Seller shall promptly repair and restore the System to its pre-existing condition; provided, however, that if more than fifty percent (50%) of the System is destroyed during the last five (5) years of the Initial Term or during any Additional Term, Seller shall not be required to restore the System, but may instead terminate this Agreement, unless Purchaser agrees (A) to pay for the cost of such restoration of the System or (B) to purchase the System “AS-IS” at the greater of (1) the Fair Market Value of the System and (2) [the sum of the amounts described in Section 14.b.iii.(A)(131.3.1.1)(1) and Section 14.b.iii.(A)(331.3.1.1)(3)] [for any given Contract Year, the amount set forth on Exhibit 4, Attachment A attached hereto].

Appears in 1 contract

Samples: Solar Power Purchase Agreement

Seller’s Obligations. If the System is damaged or destroyed other than by Purchaser’s gross negligence or willful misconduct, Seller shall promptly repair and restore the System to its pre-existing condition; provided, however, that if more than fifty percent (50%) of the System is destroyed during the last five (5) years of the Initial Term or during any Additional Term, Seller shall not be required to restore the System, but may instead terminate this Agreement, unless Purchaser agrees (A) to pay for the cost of such restoration of the System or (B) to purchase the System “AS-IS” at the greater of (1) the Fair Market Value of the System and (2) the sum of amount applicable to the amounts described Contract Year in Section 14.b.iii.(A)(1) and Section 14.b.iii.(A)(3)which the termination occurs as set forth on Exhibit 3, Attachment A attached hereto.

Appears in 1 contract

Samples: Solar Power Purchase Agreement

Seller’s Obligations. If the System is damaged or destroyed other than by Purchaser’s gross i) negligence or willful misconduct, or ii) breach of any terms of this Agreement, Seller shall promptly repair and restore the System to its pre-existing condition; provided, however, that if more than fifty percent (50%) of the System is destroyed during the last five (5) years of the Initial Term or during any Additional Term, Seller shall not be required to restore the System, but may instead terminate this Agreement, unless Purchaser agrees (A) to pay for the cost of such restoration of the System or (B) to purchase the System “AS-IS” at the greater of (1) the Fair Market Value of the System and (2) the sum of the amounts described in Section 14.b.iii.(A)(112.b.iii.A)(1) and Section 14.b.iii.(A)(312.b.iii.A)(3).

Appears in 1 contract

Samples: Solar Power Purchase Agreement

Seller’s Obligations. If the System is damaged or destroyed other than by Purchaser’s gross negligence or willful misconduct, Seller shall promptly repair and restore the System to its pre-existing condition; provided, however, that if more than fifty percent (50%) of the System is destroyed during the last five (5) years of the Initial Term or during any Additional Term, Seller shall not be required to restore the System, but may instead terminate this Agreement, unless Purchaser agrees (Ai) to pay for the cost of such restoration of the System or (Bii) to purchase the System “AS-IS” at the greater of (1A) the Fair Market Value then current fair market value of the System and (2B) the sum of the amounts described in Section 14.b.iii.(A)(113.b(3)A)(i) (using the date of purchase to determine the appropriate Contract Year) and Section 14.b.iii.(A)(313.b(3)A)(iii).

Appears in 1 contract

Samples: Solar Services Agreement

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