Common use of Applicable to Parent Clause in Contracts

Applicable to Parent. Except as otherwise permitted in Section 1.5, Parent may not Transfer its Controlling Interest in and to Member to any Person (an “Acceptable Transferee”) until after the seventh (7th) anniversary of the date of Commercial Operation of Unit 1. The Acceptable Transferee must be a Person (i)(A) whose senior unsecured long-term debt is rated at least the Rating Requirement or (B) whose Parent’s senior unsecured long-term debt is rated at least the Rating Requirement, (ii) who has five (5) years experience in the United States electric generating power industry and (iii) whose constituent documents require the favorable vote of one (1) independent director or independent member, as the case may be, only in respect of taking any of the following voluntary actions in anticipation of insolvency or bankruptcy:

Applicable to Parent. Except as otherwise permitted in Section 1.5, Parent may not Transfer its Controlling Interest in and to Member to any Person (an “"Acceptable Transferee”") until after the seventh (7th) anniversary of the date of Commercial Operation of Unit 1. The Acceptable Transferee must be a Person (i)(A) whose senior unsecured long-term debt is rated at least the Rating Requirement or (B) whose Parent’s 's senior unsecured long-term debt is rated at least the Rating Requirement, (ii) who has five (5) years experience in the United States electric generating power industry and (iii) whose constituent documents require the favorable vote of one (1) independent director or independent member, as the case may be, only in respect of taking any of the following voluntary actions in anticipation of insolvency or bankruptcy: