Common use of System Owner Termination Rights Clause in Contracts

System Owner Termination Rights. System Owner shall have the right, but not the obligation, to terminate this Agreement upon thirty (30) prior written notice to Customer: (A) If, despite System Owner’s commercially reasonable efforts, on or prior to the Conditional Early Termination Date of the System: (1) The Construction Preconditions are not satisfied or waived by System Owner; (2) System Owner has not obtained an executable interconnection agreement from the Utility for the System on terms and conditions reasonably satisfactory to System Owner or the costs of interconnecting the System to the Utility’s distribution system would make construction or operation of the System infeasible or not economically viable, as determined in System Owner’s sole discretion; (3) System Owner is unable to reach Financial Closing for the financing of the construction or operation of the System. For purposes of this Agreement, “Financial Closing” shall mean the execution of financing documents with a lender providing for the construction financing or permanent financing of the System, on terms and conditions satisfactory to System Owner, in System Owner’s sole discretion, and the fulfillment of all conditions precedent to the initial availability of funds thereunder; or

System Owner Termination Rights. System Owner shall have the right, but not the obligation, to terminate this Agreement upon thirty (30) prior written notice to Customer: (A) Ifif, despite System Owner’s commercially reasonable efforts, on or prior to the Conditional Early Termination Date of the System: (1) The Construction Preconditions are not satisfied or waived by System Owner; (2) The System Owner has not obtained an executable interconnection agreement from the Utility for the System on terms and conditions reasonably satisfactory to System Owner or the costs of interconnecting the System to the Utility’s distribution system would make construction or operation of the System infeasible or not economically viable, as determined in System Owner’s sole discretion; (3) The System Owner is unable to reach Financial Closing for the financing of the construction or operation of the System. For purposes of this Agreement, “Financial Closing” shall mean the execution of financing documents with a lender providing for the construction financing or permanent financing of the System, on terms and conditions satisfactory to System Owner, in System Owner’s sole discretion, and the fulfillment of all conditions precedent to the initial availability of funds thereunder; or