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Subsequent Owner Sample Clauses

Subsequent OwnerContracting Party agrees that, if Agent notifies Contracting Party in writing that, pursuant to the Security Agreement, it has assigned, foreclosed or sold the Assigned Interests, then (i) Agent or its successor, assignee and/or designee (a “Subsequent Owner”) shall be substituted for Assignor under the Assigned Agreement and (ii) Contracting Party shall (1) recognize Agent or the Subsequent Owner, as the case may be, as its counterparty under the Assigned Agreement and (2) continue to perform its obligations under the Assigned Agreement in favor of Agent or the Subsequent Owner, as the case may be; provided that Agent or such Subsequent Owner, as the case may be, has assumed in writing all of Assignor’s rights and obligations (including, without limitation, the obligation to cure any then existing payment and performance defaults, but excluding any obligation to cure any then existing performance defaults which by their nature are incapable of being cured) under the Assigned Agreement.
Subsequent Owner. The obligations of the Borrower or of any person obligated to reimburse the Loan shall in no way be modified or reduced by the fact that the Lender contracts with a subsequent owner of the Hypothecated Property in order to modify in any way whatsoever the terms and conditions of this Contract which has been assumed by the subsequent owner.
Subsequent Owner. 1. Contracting Party agrees that, if Agent notifies Contracting Party in writing that, pursuant to the Security Agreement, it has assigned, foreclosed or sold the Assigned Interests, then (i) Agent or its successor, assignee and/or designee (a “Subsequent Owner”) shall be substituted for Assignor under the Assigned Agreement and (ii) Contracting Party shall (1) recognize Agent or the Subsequent Owner, as the case may be, as its counterparty under the Assigned Agreement and (2) continue to perform its obligations under the Assigned Agreement in favor of Agent or the Subsequent Owner, as the case may be; provided that Agent or such Subsequent Owner, as the case may be, has assumed in writing all of Assignor’s rights and obligations (including, without limitation, the obligation to cure any then existing payment and performance defaults, but excluding any obligation to cure any then existing performance defaults which by their nature are incapable of being cured) under the Assigned Agreement. 2. Without limiting anything herein, the warranties provided by Contracting Party under the Assigned Agreement shall continue in full force and effect (until the expiration of the applicable warranty periods set forth in the Assigned Agreement) in the event that Agent or a Subsequent Owner succeeds to Assignor’s right, title and interest in the Assigned Agreement.
Subsequent Owner. (a) The Contracting Party agrees that, if Ormat notifies the Contracting Party in writing that, pursuant to and in accordance with the terms and conditions of the Credit Agreement and the Security Agreement, it has assigned, foreclosed or sold the Assigned Interests, then (i) Ormat or its successor, assignee and/or designee, or any purchaser of the Assigned Interests (a “Subsequent Owner”) shall be substituted for the Company under the Assigned Agreement[s] and (ii) the Contracting Party shall (A) recognize Ormat or the Subsequent Owner, as the case may be, as its counterparty under the Assigned Agreement[s] and (B) continue to perform its obligations under the Assigned Agreement[s] in favor of Ormat or the Subsequent Owner, as the case may be; provided that Ormat or such Subsequent Owner, as the case may be, has assumed in writing all of the Company’s rights and obligations (including, without limitation, the obligation to cure any then existing payment and performance defaults, but excluding any obligation to cure any then existing performance defaults which by their nature are incapable of being cured) under the Assigned Agreement[s]. (b) Without limiting anything herein, any warranties provided by the Contracting Party under the Assigned Agreement[s] shall continue in full force and effect (until the expiration of the applicable warranty periods set forth in the Assigned Agreement[s]) in the event that Ormat or a Subsequent Owner succeeds to the Company’s right, title and interest in the Assigned Agreement[s].
Subsequent OwnerContracting Party agrees that, if Xxxxxx notifies Contracting Party in writing that, pursuant to and in accordance with the Assignment, it has assigned, foreclosed or sold the Assigned Interest, then (A) Lender or its successor, assignee and/or designee, or any purchaser of the Assigned Interests (a “Subsequent Owner”) shall be substituted for Borrower under the Assigned Agreement and (B) Contracting Party shall (1) recognize Lender or the Subsequent Owner, as the case may be, as its counterparty under the Assigned Agreement and (2) continue to perform its obligations under the Assigned Agreement in favor of Lender or the Subsequent Owner, as the case may be; provided that Lender or such Subsequent Owner, as the case may be, has assumed in writing all of Borrower’s rights and obligations (including, without limitation, the obligation to cure any then existing payment and performance defaults, but excluding any obligation to cure any then existing performance defaults which by their nature are incapable of being cured) under the Assigned Agreement.
Subsequent Owner. If Lender notifies Landlord in writing that it has assigned, foreclosed or sold the Assigned Interests or any portion thereof, then (a) Lender or any Qualified Purchaser of the Assigned Interests (each, a “Subsequent Owner”), shall be substituted for Tenant under the Lease and (b) Landlord shall (i) recognize the Subsequent Owner as its counterparty under the Lease and (ii) continue to perform its obligations under the Lease in favor of the Subsequent Owner; in each case (a) and (b) provided that such Subsequent Owner has assumed in writing all of Tenant’s rights and obligations and cured any then existing payment and performance defaults under the Lease, other than performance defaults which by their nature are incapable of being cured by performance or payment of damages. Existence of any Subsequent Owner as a result of Lender’s exercise of remedies, including by
Subsequent Owner. Landlord agrees that, if the Lender notifies Landlord in writing that it has elected to exercise its rights and remedies pursuant to the Security Agreement and the other Loan Documents and replace the Project Company with respect to the Assigned Interest, then (i) the Lender or any assignee and/or designee of the Lender (each, a “Subsequent Owner”) shall be substituted for Project Company under the Lease and this Consent and (ii) Landlord shall recognize the Lender or such other Subsequent Owner, as the case may be, as its counterparty under the Lease and this Consent and continue to perform its obligations under the Lease and this Consent in favor of the Lender or such other Subsequent Owner, as the case may be.
Subsequent Owner. Subject to the terms and conditions of this Consent, the Parties agree that if Agent notifies Buyer in writing that it has foreclosed on the Assigned Interests pursuant to the First Lien Collateral Documents, or taken a “deed in lieu of foreclosure,” Agent or its successor, any assignee of Agent, or any other purchaser of the Assigned Interests shall be recognized as a party substituting for Seller under the Contract so long as it meets the qualifications set forth below for a Qualified Purchaser (as defined below) (each, a “Subsequent Owner”), and the terms and conditions of the Contract as in effect on such date of assignment or foreclosure shall continue to apply to such Subsequent Owner. For purposes of the previous sentence, “Qualified Purchaser” means an entity that (a) is, or has contracted with an operator who is, at least as experienced as Seller and its ultimate parent on the date hereof in the ownership and operation of windpower and electric transmission facilities, (b) has invested at least [$100 million] of equity capital in the Facility, minus any equity capital already invested therein by Pledgor, (c) agrees to assume and perform the obligations of Seller under the Contract and to otherwise comply with the terms and provisions of the Contract, and (d) is not then in litigation or arbitration against Buyer or any member of Buyer that is a purchaser from Buyer of electric energy produced by the Facility.
Subsequent Owner. Subsequent Owner shall mean (a) any party (including, without limitation, any Leasehold Mortgagee or assignee of a Leasehold Mortgagee, as applicable) acquiring the Lessee's rights and interests in the Leased Premises, this Lease, and the Improvements, which acquisition is a result of a foreclosure or other transfer in lieu of foreclosure under a Leasehold Mortgage, and (b) any successor or assignee of any party described in (a).
Subsequent Owner. Mortgagor agrees that, in the event ownership of all or any part of the Mortgaged Property becomes vested in a person other than Mortgagor, Mortgagee may, without notice to Mortgagor, deal in any way with such successor or successors in interest with reference to this Mortgage, the other Loan Documents and the Indebtedness, without in any way vitiating or discharging Mortgagor's liability with respect thereto. No sale, conveyance, transfer, pledge, encumbrance, assignment or lease referred to in Section 4.01, and no forbearance, extension or assumption by or to any person with respect to the Indebtedness or any of the Loan Documents, shall operate to release, discharge, modify, change or affect the liability of Mortgagor either in whole or in part, unless Mortgagee specifically agrees in writing to the contrary.