Fuel Lease definition
Examples of Fuel Lease in a sentence
The execution and delivery of this Letter Agreement and the Fuel Lease and the lease of the Nuclear Material thereunder will not have a material adverse effect on the financial condition, results of operations, business, properties or operations of the Lessee.
The Lessee repeats and reaffirms as of the date hereof for the benefit of the Administrative Agent and each Bank the representations and warranties made by the Lessee in the Fuel Lease as though set forth in full herein with the same effect as though such representations and warranties had been made on and as of the date hereof.
The Lessee has the corporate power and authority to execute and perform this Letter Agreement and the Fuel Lease and to lease the Nuclear Material thereunder.
The Lessee acknowledges that, except as otherwise provided in the Fuel Lease, its obligations as set forth under the Fuel Lease are absolute and unconditional.
Unless the context otherwise specifies or requires, each term defined in the Credit Agreement or Appendix A to the Fuel Lease, shall, when used in this Letter Agreement, have the meaning indicated in the Credit Agreement or Appendix A or set forth in the paragraph indicated therein.
The Lessee further acknowledges and consents to the assignment and transfer, and any future assignments and transfers, to the Secured Parties by the Company of the Company's right to exercise any and all of its rights, remedies, powers and privileges (but none of its obligations, duties or liabilities) under the Fuel Lease, the Assigned Agreements and each other Basic Document to which the Lessee is a party.
Notwithstanding the foregoing, so long as no Lease Event of Default shall have occurred and be continuing, the Lessee shall have exclusive right to possession and use of the Nuclear Material in accordance with the Fuel Lease and may use such Nuclear Material for any lawful purpose consistent with the Fuel Lease.
The Secured Parties acknowledge that neither the Security Agreement nor this Section 12 shall in any way add to the obligations of the Lessee (except those obligations of the Lessee to any Person, which, if not previously so, hereby become enforceable directly by the Secured Parties) under the Fuel Lease, the Assigned Agreements and each other Basic Document to which the Lessee is a party.
In the event the Majority Secured Parties, in accordance with the preceding sentence, shall revoke the Lessee's power and authority to engage in Fuel Management, all rights conferred by the Company to the Lessee pursuant to Section 3 of the Fuel Lease shall be deemed to be automatically reassigned to the Company and the Lessee shall execute such documents and instruments as the Secured Parties shall request to further confirm such assignment.
The Bank shall have received such documents as the Bank (or its counsel) shall have requested to confirm the continued effectiveness of the Trust Agreement, the Depositary Agreement, the Fuel Lease and the Security Agreement and any governmental approvals obtained in connection therewith.