System Lessor Sample Clauses
The 'System Lessor' clause defines the party responsible for leasing a system, such as equipment, technology, or infrastructure, to another party under the agreement. This clause typically identifies the lessor by name and outlines their rights and obligations regarding the provision, maintenance, and ownership of the leased system. For example, it may specify that the lessor retains title to the system and is responsible for ensuring it meets certain operational standards. The core function of this clause is to clearly establish who the lessor is and delineate their role, thereby preventing confusion or disputes over system ownership and responsibilities during the lease term.
System Lessor. The initial sale or transfer of the System to a System Lessor at any time up to ninety (90) calendar days after the Commercial Operation Date shall not constitute a sale for the purposes of the Judicial Council’s right of first offer or right of first refusal. If the System Lessor desires to sell all or a part of the System any time after the expiration of the period specified in the preceding sentence, then Judicial Council shall have a right of first offer and right of first refusal as provided in Section 12.