Examples of Energy plant in a sentence
During the term of this Agreement, Lxxxxxx will provide to the Multilayer Property all of Multilayer's requirements for electricity, chilled water ("Chilled Water"), hot water ("Hot Water"), and, as an OMS Cost (hereinafter defined), service from the fire pumps located on the Thermal Energy Plant to Multilayer for its use at the Multilayer Property (collectively, the "Services").
Capital Repairs shall be performed by Lxxxxxx only to the extent required by law, or otherwise if reasonably required to keep the Thermal Energy Plant in the same working order as it currently is in throughout the Term hereof.
If the current O&M Agreement expires and Lxxxxxx desires to select a new operator of the Thermal Energy Plant (other than Veolia Energy Operating Services, LLC), then Lxxxxxx shall reasonably consult with Multilayer concerning possible replacement operators.
If Multilayer fails to complete repairs within twelve (12) months of the fire or casualty, Konarka may terminate this Agreement and (if the owner of the Thermal Energy Plant and the Facility are the same) the Lease by written notice to Multilayer, effective thirty (30) days after such notice, unless Multilayer substantially completes repairs within thirty (30 days after the date such notice is given).
If the memorandum of agreement is recorded before the Thermal Energy Plant is legally subdivided from the remainder of Multilayer's property, then upon the subdivision of the Thermal Energy Plant into a separate legal parcel from the remainder of Multilayer's property, Multilayer and Konarka shall record an amended memorandum of agreement to reflect the same.
In addition to the variable costs charged under Article III, in compensation for the Services, Multilayer shall be responsible for its share of the costs ("OMS Costs") incurred by Lxxxxxx to operate, manage, maintain, and repair the Thermal Energy Plant and the components thereof (including replacement of broken components) to ensure that the Thermal Energy Plant remains in compliance with all applicable laws, and in a good and workable condition sufficient for providing the Services.
The OMS Costs allocated to Multilayer shall be the product of the ratio (the "Allocation Ratio") of Multilayer's Hot Water and Chilled Water Peak Demand (numerator) over the total monthly Peak Hot Water and Chilled Water Peak Demand (hereinafter defined) for the Multilayer Property, Lxx 0 xxxxx xx Xxxx Xxxxx Xxxx Xx. 00000-X, being the property conveyed by Multilayer to Konarka NB Holdings, LLC, and the Thermal Energy Plant (denominator) on a 12 month rolling average.
If the owner of the Thermal Energy Plant and the Facility are the same, Base Rent under the Lease shall xxxxx proportionately based on the portion of the Facility rendered unusable for so long as the interruption in Services continues.
If either Lxxxxxx or Multilayer shall commence any action or proceeding against the other relating to this Agreement or the Thermal Energy Plant, the prevailing party shall be entitled to recover from the losing party, in addition to any other relief, its actual attorneys fees irrespective of whether or not the action or proceeding is prosecuted to judgment.
This Agreement shall run with the land on which the Thermal Energy Plant and Facility are located and shall be binding upon future owners of the real estate comprising the Thermal Energy Plant and upon future lessees of the Facility (and future owners of the Facility, if Konarka purchases the fee interest in the same).