Common use of Disposition Services Clause in Contracts

Disposition Services. The Lessee agrees that if it shall not elect to exercise either an option to renew or purchase upon the expiration of the Basic Lease Term or any Renewal Term as provided in Sections 12 and 13, respectively, then during the last twenty-four months of the Lease Term, the Lessee will fully cooperate with the Lessor in connection with the Lessor’s efforts to lease or dispose of the Undivided Interest including using the Lessee’s reasonable efforts to lease or dispose of the Undivided Interest. The Lessor agrees to reimburse the Lessee for reasonable costs and expenses incurred by it at the request of the Lessor or the Owner Participant in connection with such cooperation and such efforts, but only to the extent of proceeds actually received by the Lessor.

Appears in 2 contracts

Sources: Facility Lease (Entergy New Orleans, LLC), Facility Lease (Entergy New Orleans, LLC)