Common use of Engineer’s Report Clause in Contracts

Engineer’s Report. Not less than 90 days and not more than 180 days prior to the last day of the Term (or the date on which the Facility is otherwise returned to the OwnerTrustee), the Lessee shall provide to the OwnerTrustee an inspection report prepared by a qualified independent engineer selected by the Lessee and reasonably satisfactory to the OwnerTrustee certifying whether or not the Facility is (i) in good working order, (ii) capable of performing substantially at the original manufacturer's performance specifications at the time the Facility was originally designed and (iii) capable of performing at its Design Capacity. In the event that such report indicates that the Facility does not satisfy the requirements of clause (i), (ii) or (iii) of the preceding sentence, the OwnerTrustee may elect either (A) to deem that the Leased Property is not returned until the earlier of (1) the date on which the Facility is properly repaired to satisfy such requirements and (2) one year after the last day of the Term, in which case the Lessee shall continue to be obligated under all the terms and conditions of this Lease (including without limitation the provisions relating to insurance, indemnification and risk of loss), except that, other than set forth in Section 16(e) below, the Lessee shall not be required to pay Periodic Rent and Periodic Site Rent after the expiration of the Basic Term or any Renewal Term, as the case may be, but the Lessee shall pay to the OwnerTrustee as liquidated damages, and not as a penalty, for the failure of the Lessee to return the Leased Property to the OwnerTrustee at the expiration of the Term as required by the provisions of this Section 16, an amount equal to 120% of the daily equivalent of (y) the arithmetic average of the Periodic Rent during the Basic Term, or (z) if the failure to return occurs after a Renewal Term, the arithmetic average of the Periodic Rent during such Renewal Term, or (B) to terminate this Lease, in which case the Lessee shall pay to the OwnerTrustee the Termination Value. If the OwnerTrustee elects the option specified in clause (A) above and the Facility has not been properly repaired one year after the last day of the Term, the Lessee shall pay to the OwnerTrustee the Termination Value for the Facility and title to the Facility shall vest in the Lessee upon such payment.

Engineer’s Report. Not Unless the Lessee has exercised its option to purchase the Facility and has paid all amounts due and owing in connection therewith, not less than 90 days and not more than 180 days prior to the last day of the Term (or the date on which the Facility is otherwise returned to the OwnerTrusteeOwner Trustee or the Indenture Trustee in the event that the Secured Indebtedness has not been fully paid and satisfied), the Lessee shall provide to the OwnerTrustee Owner Trustee, the Owner Participant, and the Indenture Trustee (in the event that the Secured Indebtedness has not been fully paid and satisfied) an inspection report prepared by a qualified independent engineer selected by the Lessee and reasonably satisfactory to the OwnerTrustee Owner Trustee, the Owner Participant, and the Indenture Trustee (in the event that the Secured Indebtedness has not been fully paid and satisfied) certifying whether or not the Facility is (i) in good working order, (ii) capable of performing substantially at the original manufacturer's performance specifications at the time the Facility was originally designed and (iii) capable of performing at its Design Capacity. In the event that such report indicates that the Facility does not satisfy the requirements of clause (i), (ii) or (iii) of the preceding sentence, the OwnerTrustee Owner Trustee or the Indenture Trustee (in the event that the Secured Indebtedness has not been fully paid and satisfied) may elect either (A) to deem that the Leased Property is not returned until the earlier of (1) the date on which the Facility is properly repaired to satisfy such requirements and (2) one year after the last day of the Term, in which case the Lessee shall continue to be obligated under all the terms and conditions of this Lease (including without limitation the provisions relating to insurance, indemnification and risk of loss), except that, other than set forth in Section 16(e) below, that the Lessee shall not be required to pay Periodic Rent and Periodic Site Rent after the expiration of the Basic Term or any Renewal Term, as the case may be, but the Lessee shall pay to the OwnerTrustee Owner Trustee or the Indenture Trustee, as the case may be, as liquidated damages, and not as a penalty, for the failure of the Lessee to return the Leased Property to the OwnerTrustee Owner Trustee or the Indenture Trustee, as the case may be, at the expiration of the Term as required by the provisions of this Section 16, an amount equal to 120% of the daily equivalent of (y) the arithmetic average of the Periodic Rent during the Basic Term, or (z) if the failure to return occurs after a Renewal Term, the arithmetic average of the Periodic Rent during such Renewal Term, or (B) to terminate this Lease, in which case the Lessee shall pay to the OwnerTrustee Owner Trustee or the Indenture Trustee, as the case may be, the Termination Value. If the OwnerTrustee Owner Trustee or the Indenture Trustee, as the case may be, elects the option specified in clause (A) above and the Facility has not been properly repaired one year after the last day of the Term, the Lessee shall pay to the OwnerTrustee Owner Trustee or the Indenture Trustee, as the case may be, the Termination Value for the Facility and title to the Facility shall vest in the Lessee upon such payment.

Engineer’s Report. Not Unless the Lessee has exercised its option ----------------- to purchase the Facility and has paid all amounts due and owing in connection therewith, not less than 90 days and not more than 180 days prior to the last day of the Term (or the date on which the Facility is otherwise returned to the OwnerTrusteeOwner Trustee or the Indenture Trustee in the event that the Secured Indebtedness has not been fully paid and satisfied), the Lessee shall provide to the OwnerTrustee Owner Trustee, the Owner Participant, the ClO//2// Indenture Trustee and the Indenture Trustee (in the event that the Secured Indebtedness has not been fully paid and satisfied) an inspection report prepared by a qualified independent engineer selected by the Lessee and reasonably satisfactory to the OwnerTrustee Owner Trustee, the Owner Participant, and the Indenture Trustee (in the event that the Secured Indebtedness has not been fully paid and satisfied) certifying whether or not the Facility is (i) in good working order, (ii) capable of performing substantially at the original manufacturer's performance specifications at the time the Facility was originally designed and (iii) capable of performing at its Design Capacity. In the event that such report or the report to be given pursuant 16(b) of the ClO//2// Lease indicates that the Facility or the ClO//2// Facility, as the case may be, does not satisfy the requirements of clause (i), (ii) or (iii) of the preceding sentencesentence or the corresponding clauses in Section 16(b) of the ClO//2// Lease, the OwnerTrustee Owner Trustee or the Indenture Trustee (in the event that the Secured Indebtedness has not been fully paid and satisfied) may elect either (A) to deem that the Leased Property is not returned until the earlier of (1) the date on which the Facility is properly repaired to satisfy such requirements and (2) one year after the last day of the Term, in which case the Lessee shall continue to be obligated under all the terms and conditions of this Lease (including without limitation the provisions relating to insurance, indemnification and risk of loss), except that, other than set forth in Section 16(e) below, that the Lessee shall not be required to pay Periodic Rent and Periodic Site Rent after the expiration of the Basic Term or any Renewal Term, as the case may be, but the Lessee shall pay to the OwnerTrustee Owner Trustee or the Indenture Trustee, as the case may be, as liquidated damages, and not as a penalty, for the failure of the Lessee to return the Leased Property to the OwnerTrustee Owner Trustee or the Indenture Trustee, as the case may be, at the expiration of the Term as required by the provisions of this Section 16, an amount equal to 120% of the daily equivalent of (y) the arithmetic average of the Periodic Rent during the Basic Term, or (z) if the failure to return occurs after a Renewal Term, the arithmetic average of the Periodic Rent during such Renewal Term, or (B) to terminate this Lease, in which case the Lessee shall pay to the OwnerTrustee Owner Trustee or the Indenture Trustee, as the case may be, the Termination Value; provided that any such election by the Owner Trustee or Indenture Trustee, as applicable, under this Section shall be deemed to be null and void unless the same election is made the ClO//2// Owner Trustee or ClO//2// Indenture Trustee, as applicable, under Section 16(b) of the ClO//2// Lease. If the OwnerTrustee Owner Trustee or the Indenture Trustee, as the case may be, elects the option specified in clause (A) above and the Facility or ClO//2// Facility under the ClO//2// Lease, if applicable, has not been properly repaired one year after the last day of the Term, the Lessee shall pay to the OwnerTrustee Owner Trustee or the Indenture Trustee, as the case may be, the Termination Value for the Facility and title to the Facility shall vest in the Lessee upon such payment.

Engineer’s Report. Not less than 90 days and not more than 180 days prior to the last day of the Term (or the date on which the Facility is otherwise returned to the OwnerTrusteeOwner-Trustee), the Lessee shall provide to the OwnerTrustee Owner-Trustee an inspection report prepared by a qualified independent engineer selected by the Lessee and reasonably satisfactory to the OwnerTrustee Owner-Trustee certifying whether or not the Facility is (i) in good working order, (ii) capable of performing substantially at the original manufacturer's performance specifications at the time the Facility was originally designed and (iii) capable of performing at its Design Capacity. In the event that such report indicates that the Facility does not satisfy the requirements of clause (i), (ii) or (iii) of the preceding sentence, the OwnerTrustee Owner-Trustee may elect either (A) to deem that the Leased Property is not returned until the earlier of (1) the date on which the Facility is properly repaired to satisfy such requirements and (2) one year after the last day of the Term, in which case the Lessee shall continue to be obligated under all the terms and conditions of this Lease (including without limitation the provisions relating to insurance, indemnification and risk of loss), except that, other than set forth in Section 16(e) below, the Lessee shall not be required to pay Periodic Rent and Periodic Site Rent after the expiration of the Basic Term or any Renewal Term, as the case may be, but the Lessee shall pay to the OwnerTrustee Owner-Trustee as liquidated damages, and not as a penalty, for the failure of the Lessee to return the Leased Property to the OwnerTrustee Owner-Trustee at the expiration of the Term as required by the provisions of this Section 16, an amount equal to 120% of the daily equivalent of (y) the arithmetic average of the Periodic Rent during the Basic Term, or (z) if the failure to return occurs after a Renewal Term, the arithmetic average of the Periodic Rent during such Renewal Term, or (B) to terminate this Lease, in which case the Lessee shall pay to the OwnerTrustee Owner-Trustee the Termination Value. If the OwnerTrustee Owner-Trustee elects the option specified in clause (A) above and the Facility has not been properly repaired one year after the last day of the Term, the Lessee shall pay to the OwnerTrustee Owner-Trustee the Termination Value for the Facility and title to the Facility shall vest in the Lessee upon such payment.