Examples of Steam Producing Facilities in a sentence
Pursuant to a certain Purchase and Sale Agreement of even date herewith, BI and IMTT have sold to Cogen and Cogen has purchased from BI and IMTT the Steam Producing Facilities together with certain other assets.
By executing this Agreement, BI and IMTT hereby terminate any lease that may exist with regard to the Steam Producing Facilities, which lease shall hereafter be of no force and effect.
This Lease shall terminate if, either during the Initial Term or during the Extended Term, BI shall become the owner of the Steam Producing Facilities pursuant to the Purchase and Sale Agreement, the Security Agreement or the Option Agreement.
Commencing upon the Initial Delivery Date and thereafter during the Term of this Agreement, Seller shall, at its sole expense maintain Buyer's Steam Producing Facilities in good operating condition and in compliance.with all applicable and duly adopted laws, ordinances, rules and regulations of public authorities and in conformity with all safety codes and recognized Industry Safety Standards and guidelines and further subject to any other reasonable requirements Buyer may from time to time impose.
The Obligated Party shall Operate and Maintain the Steam Producing Facilities, solely at its own expense except as may be provided in Article 3.5.
The closing of the sale of the Steam Producing Facilities shall take place on the effective date of the termination of the Steam Sale Agreement at 10:00 a.m. at the Bayonne Facility; provided, however, that if the Option has been exercised pursuant to Article 2.1C (ii) (a) or 2.2C(ii), the closing of the sale of the Steam Producing Facilities shall take place on the next business day following the service of notice of the exercise of the option at 10:00 a.m. at the Bayonne Facility.
Cogen has not taken any steps or executed any documents to convey or encumber title to or to lease the Steam Producing Facilities to any other party since the acquisition thereof from BI other than as provided in the Security Agreement.
The Steam Producing Facilities shall at all times remain the property of Cogen, and Cogen shall have free access to the Steam Producing Facilities at all reasonable times for the purpose of inspection and for any other purpose contemplated by this Lease.
The Steam Producing Facilities shall be conveyed to BI on the closing date referred to in Article 2.3, free and clear of all liens, security interests, claims and encumbrances, and in the same condition, ordinary wear and tear excepted, as the same shall exist on the Date of Initial Commercial operation.
The Steam Producing Facilities are presently leased by BI to IMTT and are utilized to produce steam which is used by IMTT in connection with the operation of the Bayonne Facility.