Supplemental Lease Rent. The Lessee also agrees to pay to the Owner Lessor, or to any other Person entitled thereto as expressly provided herein or in any other Operative Document, as appropriate, any and all Supplemental Lease Rent, promptly as the same shall become due and owing, or where no due date is specified, promptly after demand by the Person entitled thereto, and in the event of any failure on the part of the Lessee to pay any Supplemental Lease Rent, the Owner Lessor shall have all rights, powers and remedies provided for herein or by law or equity or otherwise for the failure to pay Periodic Lease Rent or Renewal Lease Rent. The Lessee will also pay as Supplemental Lease Rent, to the extent permitted by Applicable Law, an amount equal to interest at the Overdue Rate on any part of any payment of Periodic Lease Rent or Renewal Lease Rent not paid when due for any period for which the same shall be overdue and on any Supplemental Lease Rent not paid when due (whether on demand or otherwise) for the period from such due date until the same shall be paid. The Lessee also agrees to pay as Supplemental Lease Rent an amount equal to any premium, including Make Whole Premium, required to be paid pursuant to the Indenture or any Senior Note (other than any Make Whole Premium which may be payable after an assumption of the Senior Notes by the Equity Investor pursuant to Section 11.4 of the Participation Agreement after the termination of this Project Lease) and any amount required to be paid as compensation by the Owner Lessor pursuant to Section 5.4(A) of the Indenture. All Supplemental Lease Rent to be paid pursuant to this Section 3.3 shall be payable in the manner set forth in Section 3.5.
Appears in 2 contracts
Samples: Project Lease Agreement (Ormat Technologies, Inc.), Project Lease Agreement (Ormat Technologies, Inc.)
Supplemental Lease Rent. The Facility Lessee also agrees to pay to the Owner Lessor, or to any other Person entitled thereto as expressly provided herein or in any other Operative Document, as appropriate, any and all Supplemental Lease Rent, promptly as the same shall become due and owing, or where no due date is specified, promptly after demand by the Person entitled thereto, and in the event of any failure on the part of the Facility Lessee to pay any Supplemental Lease Rent, the Owner Lessor shall have all rights, powers and remedies provided for herein or by law or equity or otherwise for the failure to pay Periodic Lease Rent or Renewal Lease Rent. The Facility Lessee will also pay as Supplemental Lease Rent, to the extent permitted by Applicable Law, an amount equal to interest at the Overdue Rate on any part of any payment of Periodic Lease Rent or Renewal Lease Rent not paid when due for any period for which the same shall be overdue and on any Supplemental Lease Rent not paid when due (whether on demand or otherwise) for the period from such due date until the same shall be paid. The Facility Lessee also agrees to pay as Supplemental Lease Rent an amount equal to any premium, including Make Whole Premium, Premium required to be paid pursuant to the Lease Indenture or any Senior Note (other than any Make Whole Premium which may be payable after an assumption of the Senior Notes by the Equity Investor Owner Participant pursuant to Section 11.4 of the Participation Agreement after the termination of this Project LeaseAgreement) and any amount required to be paid as compensation by the Owner Lessor pursuant to Section 5.4(A5.4(a) of the Lease Indenture; provided that the Facility Lessee shall have the right to the exclusion of the Owner Lessor to agree with the Lease Indenture Trustee as to the amount of such compensation. All Supplemental Lease Rent to be paid pursuant to this Section 3.3 shall be payable in the manner set forth in Section 3.5.
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Samples: Facility Lease Agreement (Dynegy Danskammer LLC), Participation Agreement (Dynegy Danskammer LLC)
Supplemental Lease Rent. The Facility Lessee also agrees to pay pay, on an After-Tax Basis, to the Owner Lessor, or to any other Person entitled thereto as expressly provided herein or in any other Operative Document, as appropriate, any and all Supplemental Lease Rent, promptly as the same shall become due and owing, or where no due date is specified, promptly after demand by the Person entitled thereto, and in the event of any failure on the part of the Facility Lessee to pay any Supplemental Lease Rent, the Owner Lessor shall have all rights, powers and remedies provided for herein or by law or equity or otherwise for the failure to pay Periodic Lease Rent or Renewal Lease Rent. The Facility Lessee agrees to pay, on an After-Tax Basis, as Supplemental Lease Rent, when due any and all Make-Whole Premiums due under the Lease Indenture or the Lessor Notes. The Facility Lessee will also pay as Supplemental Lease Rent, to the extent permitted unless prohibited by Applicable any Requirement of Law, an amount equal to interest at the applicable Overdue Rate (computed on the basis of a 360-day year of twelve 30-day months) on any part of any payment of Periodic Lease Rent or Renewal Lease Rent not paid when due for any period for which the same shall be overdue and on any Supplemental Lease Rent not paid when due (whether on demand or otherwise) for the period from such due date until the same shall be paid. The Lessee also agrees to pay as Supplemental Lease Rent an amount equal to any premium, including Make Whole Premium, required to be paid pursuant to the Indenture or any Senior Note (other than any Make Whole Premium which may be payable after an assumption of the Senior Notes by the Equity Investor pursuant to Section 11.4 of the Participation Agreement after the termination of this Project Lease) and any amount required to be paid as compensation by the Owner Lessor pursuant to Section 5.4(A) of the Indenture. All Supplemental Lease Rent to be paid pursuant to this Section 3.3 shall be payable in the manner set forth in Section 3.5.. ------------ -----------
Appears in 2 contracts
Samples: Facility Lease Agreement (Mirant Mid Atlantic LLC), Facility Lease Agreement (Mirant Mid Atlantic LLC)
Supplemental Lease Rent. The Facility Lessee also agrees to pay to the Owner Lessor, or to any other Person entitled thereto as expressly provided herein or in any other Operative Document, as appropriate, any and all Supplemental Lease RentRent (including any Make Whole Premium or Change of Control Premium, if any), promptly as the same shall become due and owing, or where no due date is specified, promptly after demand by the Person entitled thereto, and in the event of any failure on the part of the Facility Lessee to pay any Supplemental Lease Rent, the Owner Lessor shall have all rights, powers and remedies provided for herein or by law or equity or otherwise for the failure to pay Periodic Lease Rent or Renewal Lease Rent. The Facility Lessee will also pay as Supplemental Lease Rent, to the extent permitted by Applicable Law, an amount equal to interest at the applicable Overdue Rate on any part of any payment of Periodic Lease Rent or Renewal Lease Rent not paid when due for any period for which the same shall be overdue and on any Supplemental Lease Rent not paid when due (whether on demand or otherwise) for the period from such due date until the same shall be paid. The Facility Lessee also agrees to pay as Supplemental Lease Rent an amount equal to any premium, including amount of Make Whole Premium, Premium and Change of Control Premium required to be paid pursuant to the Lease Indenture or any Senior Note (other than any Make Whole Premium which may be payable after an assumption of the Senior Notes by the Equity Investor pursuant to Section 11.4 of the Participation Agreement after the termination of this Project Lease) and any amount required to be paid as compensation by the Owner Lessor pursuant to Section 5.4(A) of the IndentureNote. All Supplemental Lease Rent to be paid pursuant to this Section 3.3 3.4 shall be payable in the manner set forth in Section 3.53.6.
Appears in 1 contract
Samples: Facility Lease Agreement (Reliant Energy Mid Atlantic Power Services Inc)
Supplemental Lease Rent. The Facility Lessee also agrees to pay to the Owner Lessor, or to any other Person entitled thereto as expressly provided herein or in any other Operative Document, as appropriate, any and all Supplemental Lease RentRent (including any Make Whole Premium or Change of Control Premium, if any), promptly as the same shall become due and owing, or where no due date is specified, promptly after demand by the Person entitled thereto, and in the event of any failure on the part of the Facility Lessee to pay any Supplemental Lease Rent, the Owner Lessor shall have all rights, powers and remedies provided for herein or by law or equity or otherwise for the failure to pay Periodic Lease Rent or Renewal Lease Rent. The Facility Lessee will also pay as Supplemental Lease Rent, to the extent permitted by Applicable Law, an amount equal to interest at the applicable Overdue Rate on any part of any payment of Periodic Lease Rent or Renewal Lease Rent not paid when due for any period for which the same shall be overdue and on any Supplemental Lease Rent not paid when due (whether on demand or otherwise) for the period from such due date until the same shall be paid. The Facility Lessee also agrees to pay as Supplemental Lease Rent an amount equal to any premium, including amount of Make Whole Premium, Premium and Change of Control Premium required to be paid pursuant to the Lease Indenture or any Senior Note (other than any Make Whole Premium which may be payable after an assumption of the Senior Notes by the Equity Investor pursuant to Section 11.4 of the Participation Agreement after the termination of this Project Lease) and any amount required to be paid as compensation by the Owner Lessor pursuant to Section 5.4(A) of the IndentureNote. All Supplemental Lease Rent to be paid pursuant to this Section 3.3 3.4 shall be payable in the manner set forth in Section 3.6. Section 3.5.
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Supplemental Lease Rent. The Facility Lessee also agrees to pay to the Owner Lessor, or to any other Person entitled thereto as expressly provided herein or in any other Operative Document, as appropriate, any and all Supplemental Lease Rent, promptly as the same shall become due and owing, or where no due date is specified, promptly after demand by the Person entitled thereto, and in the event of any failure on the part of the Facility Lessee to pay any Supplemental Lease Rent, the Owner Lessor shall have all rights, powers and remedies provided for herein or by law or equity or otherwise for the failure to pay Periodic Lease Rent or Renewal Basic Lease Rent. The Facility Lessee agrees to pay, as Supplemental Lease Rent, when due any and all Make-Whole Premiums or other prepayment premiums due under the Lease Indenture or the Lessor Notes. The Facility Lessee will also pay as Supplemental Lease Rent, to the extent permitted by Applicable Requirement of Law, an amount equal to interest at the applicable Overdue Rate (computed on the basis of a 360-day year of twelve 30-day months) on any part of any payment of Periodic Lease Rent or Renewal Basic Lease Rent not paid when due for any period for which the same shall be overdue and on any Supplemental Supplemen tal Lease Rent not paid when due (whether on demand or otherwise) for the period from such due date until the same shall be paid. The Lessee also agrees to pay as Supplemental Lease Rent an amount equal to any premium, including Make Whole Premium, required to be paid pursuant to the Indenture or any Senior Note (other than any Make Whole Premium which may be payable after an assumption of the Senior Notes by the Equity Investor pursuant to Section 11.4 of the Participation Agreement after the termination of this Project Lease) and any amount required to be paid as compensation by the Owner Lessor pursuant to Section 5.4(A) of the Indenture. All Supplemental Lease Rent to be paid pursuant to this Section 3.3 shall be payable in the manner set forth in Section 3.5.
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