Common use of Customer Purchase Options Prior to Expiration Date Clause in Contracts

Customer Purchase Options Prior to Expiration Date. 10.4.1 On the later to occur of the sixth (6th) anniversary of the Commercial Operation Date, provided that no Customer Default shall have occurred and be continuing beyond any applicable period of cure, Customer may elect to purchase all, but not less than all, of the System. If Customer elects to so purchase the System, the purchase price shall be the higher of the then Fair Market Value of the System (calculated in accordance with the definition of Fair Market Value set forth in Section 10.3.2 for the System, and such determination to be at Customer’s sole cost and expense), or the then-current Termination Value specified in Column A of Schedule D. Not less than one-hundred-and-eighty (180) days prior to the exercise of the purchase option for the System, Customer shall provide written notice to Provider of Customer’s exercise thereof. Upon the exercise of the foregoing purchase option plus receipt of the Value as determined in Section 10.4 above and all other amounts then owing by Customer to Provider, the Parties will execute all documents necessary to cause title to the System to pass to Customer as-is, where- is; provided, however, that Provider shall remove any encumbrances placed on the System by Provider at Customer’s expense.

Customer Purchase Options Prior to Expiration Date. 10.4.1 On the later to occur of the sixth (6th) anniversary of the Commercial Operation Date and the Storage Services Commencement Date, provided that no Customer Default shall have occurred and be continuing beyond any applicable period of cure, Customer may elect to purchase all, but not less than all, of the System (including both the ESS and the PV System). If Customer elects to so purchase the System, the purchase price shall be the higher of the then Fair Market Value of the System (calculated in accordance with the definition of Fair Market Value set forth in Section 10.3.2 for the SystemPV System and the ESS Fair Market Value set forth in Section 10.3.5, and such determination to be at Customer’s sole cost and expense), or the then-current Termination Value specified in Column A of Schedule D. Not less than one-hundred-and-eighty (180) days prior to the exercise of the purchase option for the System, Customer shall provide written notice to Provider of Customer’s exercise thereof. Upon the exercise of the foregoing purchase option plus receipt of the Value as determined in Section 10.4 above and all other amounts then owing by Customer to Provider, the Parties will execute all documents necessary to cause title to the System to pass to Customer as-is, where- is; provided, however, that Provider shall remove any encumbrances placed on the System by Provider at Customer’s expense.