Severable Modifications Sample Clauses

Severable Modifications. At any time after the Operator has ----------------------- notified the Owner that it has determined not to renew this Agreement pursuant to Article XVII, or operational responsibility for the Allocated Assets reverts to the Owner, the Operator shall at the Owner's request, advise the Owner of the nature and condition of all Severable Modifications owned by the Operator pursuant to Section 7.2(b)(ii) hereof which the Operator has removed or intends to remove from the Allocated Assets in accordance with Section 7.2(c) hereof. The Operator may (and shall, if so directed by Owner), at its sole cost, expense and risk, remove from any Allocated Asset any Severable Modification; provided, that any such Modification not removed pursuant to this Section 9.4 shall be deemed to be part of the Allocated Asset to which it relates for all purposes hereof and title to such Modification shall thereupon vest in the Owner free and clear of all Liens, other than Owner Liens.
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Severable Modifications. 12 ARTICLE X - LOSS, DESTRUCTION, CONDEMNATION, DAMAGE, ETC.....................13 SECTION 10.1 Replacement; Payment...................................13 SECTION 10.2 Applications During Event of Default...................14 SECTION 10.3 Application of Article VII.............................14 ARTICLE XI - INDEMNITIES.....................................................14
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Severable Modifications. If Lessee has made any Severable Modification to the Equipment to be surrendered to Lessor pursuant to Section 8.01, and such Severable Modification has not previously been removed by Lessee, Lessee shall, not later than 60 days before such surrender, inform Lessor in writing if Lessee intends to leave such Severable Modification in place, whereupon Lessor may elect to purchase such Severable Modification for its then fair market value. If Lessor has not given Lessee written notice of its election under the preceding sentence at least 30 days prior to the date for the surrender of the Equipment, Lessee may (i) remove such Severable Modification prior to such surrender (and shall repair in all material respects any damage caused by such removal), or (ii) leave such Severable Modification in place, in which case it will become the property of Lessor without further action on the part of, or further cost to, Lessor.
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Severable Modifications. The Lessee shall retain ownership and title to all Optional Modifications which are Severable Modifications (other than Severable Modifications which are financed by the Lessor pursuant to Section 11.1 of the Participation Agreement) and no interest in such Severable Modifications shall vest in the Lessor or become subject to this Facility Lease or the Lien of the Indenture; provided, however, that upon the return of the Undivided Interest to the Lessor pursuant to Section 5.1 hereof, the Lessor shall have the right to purchase an undivided interest equal to the Lessor’s Percentage of such Severable Modifications at their then fair market value in cash paid to the Lessee as of and on the Date of Return or if the Lessor does not elect either to purchase any such Severable Modification and to the extent that such Severable Modification is necessary or commercially advisable for the economic operation of the Facility, then, to the same extent, such Severable Modification shall be included in and made available to the Lessor through an amendment to the Support Agreement. If the Lessor does not elect to either purchase such Severable Modifications or the Lessee does not make such Severable Modifications available through the Support Agreement (subject to the terms set forth in Section 4 of the Support Agreement, mutatis mutandis), the Lessee may remove such Severable Modifications at the end of the Lease Term. The Lessee shall repair any damage to the Facility and the Facility Site caused by such removal, all at the Lessee’s cost and expense. If the Lessee shall have failed to remove any Optional Modification which is a Severable Modification, or make available through the Support Agreement, as above provided prior to the return of the Undivided Interest pursuant to Section 5.1, title to an undivided interest equal to the Lessor’s Percentage in such Optional Modification shall (at no cost to the Lessor, the Owner Participant or, if applicable, the OP Guarantor) vest in the Lessor.
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Severable Modifications. . . .12 ARTICLE X - LOSS, DESTRUCTION, CONDEMNATION, DAMAGE, ETC. . .13
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Related to Severable Modifications

  • Severability; Modification All provisions of this Agreement are severable from one another, and the unenforceability or invalidity of any provision of this Agreement shall not affect the validity or enforceability of the remaining provisions of this Agreement, but such remaining provisions shall be interpreted and construed in such a manner as to carry out fully the intention of the parties. Should any judicial body interpreting this Agreement deem any provision of this Agreement to be unreasonably broad in time, territory, scope or otherwise, it is the intent and desire of the parties that such judicial body, to the greatest extent possible, reduce the breadth of such provision to the maximum legally allowable parameters rather than deeming such provision totally unenforceable or invalid.

  • Waivers; Modifications Except as set forth in a written instrument included in the related Mortgage File, the (A) material terms of the related Mortgage Note, the related Mortgage(s) and any related loan agreement and/or lock-box agreement have not been waived, modified, altered, satisfied, impaired, canceled, subordinated or rescinded by the mortgagee in any manner, and (B) no portion of a related Mortgaged Property has been released from the lien of the related Mortgage, in the case of (A) and/or (B), to an extent or in a manner that in any such event materially interferes with the security intended to be provided by such document or instrument. Schedule III (xxviii) identifies each Mortgage Loan (if any) as to which, since the latest date any related due diligence materials were delivered to Anthracite Capital, Inc. (or its designee), there has been (in writing) given, made or consented to a material alteration, material modification or assumption of the terms of the related Mortgage Note, Mortgage(s) or any related loan agreement and/or lock-box agreement and/or as to which, since such date, there has been (in writing) a waiver other than as related to routine operational matters or minor covenants.

  • Severability and Modification To the extent permitted by applicable law, the parties agree that any term or provision of this Agreement (or part thereof) that renders such term or provision (or part thereof) or any other term or provision (or part thereof) of this Agreement invalid or unenforceable in any respect shall be severable and shall be modified or severed to the extent necessary to avoid rendering such term or provision (or part thereof) invalid or unenforceable, and such severance or modification shall be accomplished in the manner that most nearly preserves the benefit of the parties’ bargain hereunder.

  • Amendment and Modifications This Agreement may not be amended, modified or supplemented except by an instrument or instruments in writing signed by the party against whom enforcement of any such amendment, modification or supplement is sought.

  • Waiver and Modifications Any Party may (a) waive, in whole or in part, any inaccuracy of, or consent to the modification of, any representation or warranty made to it hereunder or in any document to be delivered pursuant hereto, (b) extend the time for the performance of any of the obligations or acts of the other Parties (c) waive or consent to the modification of any of the covenants herein contained for its benefit or waive or consent to the modification of any of the obligations of the other Parties hereto or (d) waive the fulfillment of any condition to its own obligations contained herein. No waiver or consent to the modifications of any of the provisions of this Agreement will be effective or binding unless made in writing and signed by the Party or Parties purporting to give the same and, unless otherwise provided, will be limited to the specific breach or condition waived. The rights and remedies of the Parties hereunder are cumulative and are in addition to, and not in substitution for, any other rights and remedies available at law or in equity or otherwise. No single or partial exercise by a Party of any right or remedy precludes or otherwise affects any further exercise of such right or remedy or the exercise of any other right or remedy to which that Party may be entitled. No waiver or partial waiver of any nature, in any one or more instances, will be deemed or construed a continued waiver of any condition or breach of any other term, representation or warranty in this Agreement.

  • Waiver; Modification Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof shall not be deemed a waiver of such term, covenant, or condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times. This Agreement shall not be modified in any respect except by a writing executed by each party hereto.

  • Waivers and Modifications The failure of any Party to insist on the performance of any obligation hereunder shall not be deemed to be a waiver of such obligation. Waiver of any breach of any provision hereof shall not be deemed to be a waiver of any other breach of such provision or any other provision on such occasion or any succeeding occasion. No waiver, modification, release or amendment of any obligation under or provision of this Agreement shall be valid or effective unless in writing and signed by all Parties hereto.

  • Amendment and Modification; Waiver This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by the party so waiving. No waiver by any party shall operate or be construed as a waiver in respect of any failure, breach or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

  • Amendment and Modification This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto.

  • Modification; Severability The Parties agree that if a court of competent jurisdiction finds that any term of this Release is for any reason excessively broad in scope, duration, or otherwise, such term shall be construed or modified in a manner to enable it to be enforced to the maximum extent possible. Further, the covenants in this Release shall be deemed to be a series of separate covenants and agreements. If, in any judicial proceeding, a court of competent jurisdiction shall refuse to enforce any of the separate covenants deemed included herein, then at the option of the Company, wholly unenforceable covenants shall be deemed eliminated from this Release for the purpose of such proceeding to the extent necessary to permit the remaining separate covenants to be enforced in such proceeding.

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