Common use of Wintergreen Renewal Lease Term Clause in Contracts

Wintergreen Renewal Lease Term. Not earlier than twenty-four (24) months and not later than eighteen (18) months prior to the expiration of the Basic Lease Term, the Lessee may deliver to the Owner Lessor written notice (which notice may be in addition to a notice of the Lessee's tentative interest in electing an FMV Renewal Lease Term under Section 15.2) of the Lessee's tentative interest in renewing this Project Lease for a term (the "Wintergreen Renewal Lease Term") commencing on the day following the last day of the Basic Lease Term and ending on a date (a) as of which the sum of the number of years of the proposed Wintergreen Renewal Lease Term and the Basic Lease Term is not more than seventy-five (75%) of the estimated economic useful life of the Project measured from the Closing Date, but determined by an Independent Appraiser (which Independent Appraiser shall be selected by the Owner Lessor and be reasonably acceptable to the Lessee) in accordance with the Appraisal Procedure not more than twelve (12) months before the end of the Basic Lease Term, and (b) as of which the estimated fair market value of the Project determined, by such Independent Appraiser, subsequent to the Lessee's tentative election of the Wintergreen Renewal Lease Term (but not earlier than twelve (12) months prior to the expiration of the Basic Lease Term), shall equal or exceed twenty percent (20%) of the Head Lease Rent (without taking into account inflation or deflation subsequent to the Closing Date), provided that no Wintergreen Renewal Lease Term shall be for a period of less than one (1) year. Unless the Lessee shall have irrevocably elected to renew this Project Lease for an FMV Renewal Lease Term under Section 15.2, and provided that no Lease Event of Default shall have occurred and be continuing on such notice date on or prior to eighteen (18) months before the expiration of the Basic Lease Term, the Lessee may deliver to the Owner Lessor a further notice in writing irrevocably electing to renew this Project Lease for the Wintergreen Renewal Lease Term determined as aforesaid and, subject to no Significant Lease Default or Lease Event of Default having occurred and continuing on the last day of the Basic Lease Term, the Wintergreen Renewal Lease Term shall thereupon take effect as provided herein. The Independent Appraiser's fees and expenses shall be borne by the Lessee.

Wintergreen Renewal Lease Term. Not earlier than twentyforty-four two (24) months and not later than eighteen (1842) months prior to the expiration of the Basic Lease Term, unless a Lease Bankruptcy or Payment Default or Lease Event of Default shall have occurred and be continuing, the Facility Lessee may deliver to the Owner Lessor written notice (which notice may be in addition to a notice of the Facility Lessee's tentative interest in electing an FMV Renewal Lease Term under Section 15.215.3) of the Facility Lessee's tentative interest in renewing this Project Facility Lease for a term (the "First Wintergreen Renewal Lease Term") commencing on the day ------------------------------------ following the last day of the Basic Lease Term and ending on a date (a) as of which the sum of the number of years of the proposed First Wintergreen Renewal Lease Term and the Basic Lease Term is not more than seventy-five the lesser of (x) 49 years, or (y) 75%) % of the estimated economic useful life of the Project Facility measured from the Closing Date, but determined by an Independent Appraiser (which Independent Appraiser shall be selected by the Owner Lessor Facility Lessee and be reasonably acceptable to the LesseeOwner Lessor) in accordance with the Appraisal Procedure Procedures not more than twelve thirty-six (1236) months before the end of the Basic Lease Term, and (b) as of which the estimated fair market value of the Project Facility determined, by such Independent Appraiser, subsequent to the Facility Lessee's tentative election of the First Wintergreen Renewal Lease Term (but not earlier than twelve thirty-six (1236) months prior to the expiration of the Basic Lease Term), shall equal or exceed twenty percent (20%) of the Head Purchase Price (or, if this Facility Lease Rent has been terminated with respect to one Unit, the Unit Purchase Price of the remaining Unit) (without taking into account inflation or deflation subsequent to the Closing Date), provided that no Wintergreen Renewal Lease Term shall be for a period of less than one (1) year. Unless the Facility Lessee shall have irrevocably elected to renew this Project Facility Lease for an FMV Renewal Lease Term under Section 15.215.3, and provided that no Lease Bankruptcy or Payment Default or Lease Event of Default shall have occurred and be continuing on such notice date date, on or prior to eighteen (18) months before the expiration of the Basic Lease Term, the Facility Lessee may deliver to the Owner Lessor a further notice in writing irrevocably electing to renew this Project Facility Lease for the First Wintergreen Renewal Lease Term determined as aforesaid and, subject to no neither a Significant Lease Default or nor a Lease Event of Default having occurred and continuing on the last day of the Basic Lease Term, the First Wintergreen Renewal Lease Term shall thereupon take effect as provided herein. The Independent Appraiser's fees and expenses shall be borne by the Lessee.

Wintergreen Renewal Lease Term. Not earlier than twenty-four (24) months and not later than eighteen (18) 42 months prior to the expiration of the Basic Lease Term, unless a Significant Lease Default or a Lease Event of Default shall have occurred and be continuing, the Facility Lessee may deliver to the Owner Lessor written notice (which notice may be in addition to a notice of the Facility Lessee's tentative interest in electing an FMV Renewal Lease Term under Section 15.215.3) of the Facility Lessee's tentative interest in renewing this Project Facility Lease with respect to Undivided Interest for a term (the "First Wintergreen Renewal Lease Term") commencing on the day following the last day of the Basic Lease Term and ending on a date the earlier of (a) as of which the sum of the number of years of the proposed Wintergreen Renewal Lease Term and the Basic Lease Term is not more than seventy-five (75%) of the estimated economic useful life of the Project measured from the Closing Date, but determined by an Independent Appraiser (which Independent Appraiser shall be selected by the Owner Lessor and be reasonably acceptable to the Lessee) in accordance with the Appraisal Procedure not more than twelve (12) months before the end of the Basic Lease Term, and (b) latest date as of which the estimated fair market value of the Project determined, Undivided Interest determined by such an Independent AppraiserAppraiser selected by the Facility Lessee and reasonably acceptable to the Owner Lessor, subsequent to the Facility Lessee's tentative election of the First Wintergreen Renewal Lease Term (but not earlier than twelve (12) 36 months prior to the expiration of the Basic Lease Term), shall equal or exceed twenty percent (20%) % of the Head Lease Rent Purchase Price with respect to the Undivided Interest (without taking into account inflation or deflation subsequent to the Closing Date), provided that no ) and (b) the date as of which the sum of the number of years of the proposed First Wintergreen Renewal Lease Term and the Basic Lease Term shall be for a period equal 75% of less than one (1) yearthe estimated economic useful life of the relevant Units and the Colstrip Project as of the Closing Date, as determined by such Independent Appraiser. Unless the Facility Lessee shall have irrevocably elected to renew this Project Facility Lease for an FMV Renewal Lease Term under Section 15.215.3, and provided that no neither a Significant Lease Default or Lease Event of Default shall have occurred and be continuing on such notice date or on the date of expiration of the Basic Lease Term, on or prior to eighteen (18) 18 months before the expiration of the Basic Lease Term, the Facility Lessee may deliver to the Owner Lessor a further notice in writing irrevocably electing to renew this Project Facility Lease with respect to the Undivided Interest for the First Wintergreen Renewal Lease Term determined as aforesaid and, subject to no Significant Lease Default or Lease Event of Default having occurred and continuing on the last day of the Basic Lease Term, the First Wintergreen Renewal Lease Term shall thereupon take effect as provided herein. The Independent Appraiser's fees and expenses shall be borne by the Lessee.

Wintergreen Renewal Lease Term. Not earlier than twenty-four (24) months and not later than eighteen (18) 42 months prior to the expiration of the Basic Lease Term, unless a Significant Lease Default or a Lease Event of Default shall have occurred and be continuing, the Facility Lessee may deliver to the Owner Lessor written notice (which notice may be in addition to a notice of the Facility Lessee's tentative interest in electing an a FMV Renewal Lease Term under Section 15.215.3) of the Facility Lessee's tentative interest in renewing this Project Facility Lease for a term (the "First Wintergreen Renewal Lease Term") commencing on the day following the last day of the Basic Lease Term and ending on a date the earlier of (a) as of which the sum of the number of years of the proposed Wintergreen Renewal Lease Term and the Basic Lease Term is not more than seventy-five (75%) of the estimated economic useful life of the Project measured from the Closing Date, but determined by an Independent Appraiser (which Independent Appraiser shall be selected by the Owner Lessor and be reasonably acceptable to the Lessee) in accordance with the Appraisal Procedure not more than twelve (12) months before the end of the Basic Lease Term, and (b) latest date as of which the estimated fair market value of the Project determined, Facility Interest determined pursuant to the Appraisal Procedure by such an Independent AppraiserAppraiser selected by the Facility Lessee and reasonably acceptable to the Owner Lessor, subsequent to the Facility Lessee's tentative election of the First Wintergreen Renewal Lease Term (but not earlier than twelve (12) 36 months prior to the expiration of the Basic Lease Term), shall equal or exceed twenty percent (20%) % of the Head Lease Rent Purchase Price (without taking into account inflation or deflation subsequent to the Closing Date), provided that no ) and (b) the date as of which the sum of the number of years of the proposed First Wintergreen Renewal Lease Term and the Basic Lease Term shall be for a period equal 75% of less than one (1) yearthe estimated economic useful life of the Facility as determined by such Independent Appraiser pursuant to the Appraisal Procedure. Unless the Facility Lessee shall have irrevocably elected to renew this Project Facility Lease for an a FMV Renewal Lease Term under Section 15.215.3, and provided that no neither a Significant Lease Default nor a Lease Event of Default shall have occurred and be continuing on such notice date or on the date of expiration of the Basic Lease Term, on or prior to eighteen (18) 18 months before the expiration of the Basic Lease Term, the Facility Lessee may deliver to the Owner Lessor a further notice in writing irrevocably electing to renew this Project Facility Lease for the First Wintergreen Renewal Lease Term determined as aforesaid and, subject to no Significant Lease Default or Lease Event of Default having occurred and continuing on the last day of the Basic Lease Term, the First Wintergreen Renewal Lease Term shall thereupon take effect as provided herein. The Independent Appraiser's fees and expenses shall be borne by the Lessee.