Common use of Fair Market Value Renewal Lease Terms Clause in Contracts

Fair Market Value Renewal Lease Terms. Not earlier than 42 months prior to, but not less than 18 months prior to, the expiration of the Basic Lease Term or any Renewal Lease Term, so long as no Material Lease Default or Lease Event of Default shall have occurred and be continuing on the date any notice is given pursuant to this SECTION 15.2 and no Material Lease Default or Lease Event of Default shall have occurred and be continuing on the date the lease renewal proposed pursuant to this SECTION 15.2 is to commence, the Facility Lessee may deliver to the Owner Lessor a notice (which notice may be in addition to a notice of the Facility Lessee's interest in electing the First Renewal Term or the Second Renewal Term, as applicable) of the Facility Lessee's interest in renewing this Facility Lease for a term (each such term, a "FMV RENEWAL LEASE TERM") commencing upon expiration of the Basic Lease Term or the Renewal Lease Term otherwise expiring and extending for no less than one year and 37 no more than five years; PROVIDED THAT no such FMV Renewal Lease Term shall extend beyond the first date (rounded to the last day of the immediately preceding whole year) as of which 10% or less of the estimated remaining economic useful life of the Facility as of the Closing Date would remain (such estimated remaining economic useful life being measured as of the Closing Date) and on or after which the estimated Fair Market Sales Value of the Facility is expected to be less than 10% of the Purchase Price (in each case, as set forth in the most recent of (a) the Closing Appraisal, (b) the appraisal obtained in connection with the Facility Lessee's option to elect the First Renewal Term (the "FIRST RENEWAL Option") and (c) the appraisal obtained in connection with the Facility Lessee's option to elect the Second Renewal Term (the "SECOND RENEWAL OPTION.") The Facility Lessee may withdraw any notice given in accordance with this SECTION 15.2 by written notice of such withdrawal to the Owner Lessor on or prior to 18 months before commencement of the proposed Fair Market Value Renewal Lease Term. Notwithstanding the foregoing, the Facility Lessee may elect to renew this Facility Lease pursuant to this SECTION 15.2 and exercise its other rights under such Section only if (i) concurrently with such election, the Facility Lessee also elects to renew each Other Facility Lease pursuant to SECTION 15.1 thereof and (ii) concurrently with the renewal of this Facility Lease, the Facility Lessee renews each Other Facility Lease in accordance with SECTION 15.1 thereof.

Fair Market Value Renewal Lease Terms. Not earlier than 42 months prior to, but not less than 18 months prior to, to the expiration of the Basic Lease Term or any Term, the First Wintergreen Renewal Lease Term, so long as no Material the Second Wintergreen Renewal Lease Term, or any other Renewal Lease Term, unless a Significant Lease Default or Lease Event of Default shall have occurred and be continuing on the date any notice is given pursuant to this SECTION 15.2 and no Material Lease Default or Lease Event of Default shall have occurred and be continuing on the date the lease renewal proposed pursuant to this SECTION 15.2 is to commencecontinuing, the Facility Lessee may deliver to the Owner Lessor a notice (which notice may be in addition to a notice of the Facility Lessee's tentative interest in electing the First Wintergreen Renewal Lease Term or the Second Wintergreen Renewal Lease Term, as applicable) of the Facility Lessee's tentative interest in renewing this Facility Lease with respect to the Undivided Interest for a term (each such term, a "FMV RENEWAL LEASE TERMRenewal Lease Term") commencing upon on the day following the last day of the Basic Lease Term or a Renewal Lease Term otherwise expiring and extending for no less than two years and no more than five years; provided that, unless such FMV Renewal Lease Term extends to the end of the useful life of such Units, no such FMV Renewal Lease Term shall extend beyond the date that is three (3) years prior to the end of the useful life of such Units (as set forth in the most recent appraisal obtained pursuant to Section 4.1(o) of the Participation Agreement, Section 15.1 or 15.2 of this Facility Lease or Section 2.3(a) or (b) of the Site Lease and Sublease). Unless the Facility Lessee shall have irrevocably elected to renew this Facility Lease for a Wintergreen Renewal Lease Term pursuant to Sections 15.1 or 15.2 (it being understood that the exercise by the Facility Lessee of its right to renew this Facility Lease at the end of the Basic Lease Term or at the end of the First Wintergreen Renewal Lease Term pursuant to Sections 15.1 or 15.2 hereof, respectively, shall not impair its right to renew this Facility Lease at any time thereafter pursuant to this Section 15.3), and provided that neither a Significant Lease Default nor a Lease Event of Default shall have occurred and be continuing on any such notice date or on the date of expiration of the Basic Lease Term or the Renewal Lease Term otherwise expiring and extending for no less than one year and 37 no more than five years; PROVIDED THAT no immediately preceding such FMV Renewal Lease Term shall extend beyond the first date (rounded to the last day of the immediately preceding whole year) as of which 10% or less of the estimated remaining economic useful life of the Facility as of the Closing Date would remain (such estimated remaining economic useful life being measured as of the Closing Date) and on or after which the estimated Fair Market Sales Value of the Facility is expected to be less than 10% of the Purchase Price (in each caseTerm, as set forth in the most recent of (a) the Closing Appraisalcase may be, (b) the appraisal obtained in connection with the Facility Lessee's option to elect the First Renewal Term (the "FIRST RENEWAL Option") and (c) the appraisal obtained in connection with the Facility Lessee's option to elect the Second Renewal Term (the "SECOND RENEWAL OPTION.") The Facility Lessee may withdraw any notice given in accordance with this SECTION 15.2 by written notice of such withdrawal to the Owner Lessor on or prior to 18 months before commencement the expiration of the proposed Fair Market Value existing Basic Lease Term or the relevant Renewal Lease Term. Notwithstanding Term as the foregoingcase may be, the Facility Lessee may elect deliver to the Owner Lessor a further notice irrevocably electing to renew this Facility Lease pursuant with respect to this SECTION 15.2 the Undivided Interest for the FMV Renewal Lease Term tentatively elected as aforesaid and exercise its other rights under such Section only if (i) concurrently with such election, the Facility Lessee also elects to renew each Other Facility FMV Renewal Lease pursuant to SECTION 15.1 thereof and (ii) concurrently with the renewal of this Facility Lease, the Facility Lessee renews each Other Facility Lease in accordance with SECTION 15.1 thereofTerm shall thereupon take effect as provided herein.

Fair Market Value Renewal Lease Terms. Not earlier than 42 thirty-six (36) months and not later than eighteen (18) months prior to, but not less than 18 months prior to, to the expiration of the Basic Lease Term, the Wintergreen Renewal Lease Term or any other Renewal Lease Term, so long as no Material Lease Default or unless a Lease Event of Default shall have occurred and be continuing on the date any notice is given pursuant to this SECTION 15.2 and no Material Lease Default or Lease Event of Default shall have occurred and be continuing on the date the lease renewal proposed pursuant to this SECTION 15.2 is to commencecontinuing, the Facility Lessee may deliver to the Owner Lessor a notice (which notice may be in addition to a notice of the Facility Lessee's tentative interest in electing the First Wintergreen Renewal Term or the Second Renewal Lease Term, as applicable) of the Facility Lessee's tentative interest in renewing this Facility Project Lease for a term (each such term, a "FMV RENEWAL LEASE TERMRenewal Lease Term") commencing upon expiration on the day following the last day of the Basic Lease Term or the a Renewal Lease Term otherwise expiring and extending for no less than one year and 37 no more than five a period equal to three years; PROVIDED THAT provided that unless such FMV Renewal Lease Term extends to the end of the useful life of the Project, no such FMV Renewal Lease Term shall extend beyond the first date that is three (rounded 3) years prior to the last day end of the immediately preceding whole year) as of which 10% or less of the estimated remaining economic useful life of the Facility as of the Closing Date would remain Project (such estimated remaining economic useful life being measured as of the Closing Date) and on or after which the estimated Fair Market Sales Value of the Facility is expected to be less than 10% of the Purchase Price (in each case, as set forth in the most recent of (a) the Closing Appraisal, Appraisal or (b) the appraisal obtained in connection with the Facility Lessee's option exercise of the Wintergreen Renewal Lease Term or the most recent FMV Renewal Lease Term, if any). Unless the Lessee shall have irrevocably elected to elect renew this Project Lease for the First Wintergreen Renewal Lease Term pursuant to Section 15.1 (it being understood that the "FIRST RENEWAL Option"exercise by the Lessee of its right to renew this Project Lease at the end of the Basic Lease Term pursuant to Section 15.1 hereof shall not impair its right to renew this Project Lease at any time thereafter pursuant to this Section 15.2), and provided that no Lease Event of Default shall have occurred and be continuing on any such notice date or on the date of expiration of the Basic Lease Term or the Renewal Lease Term immediately preceding such FMV Renewal Lease Term, as the case may be, on or prior to eighteen (18) and (c) months before the appraisal obtained in connection with expiration of the Facility Lessee's option to elect existing Basic Lease Term or the Second relevant Renewal Term (Lease Term, as the "SECOND RENEWAL OPTION.") The Facility case may be, the Lessee may withdraw any notice given in accordance with this SECTION 15.2 by written notice of such withdrawal deliver to the Owner Lessor a further notice irrevocably electing to renew this Project Lease for the FMV Renewal Lease Term tentatively elected as aforesaid and, subject to no Significant Lease Default or Lease Event of Default having occurred and continuing on or prior to 18 months before commencement the last day of the proposed Fair Market Value Basic Lease Term or the Renewal Lease Term immediately preceding such FMV Renewal Lease Term. Notwithstanding , as the foregoingcase may be, the Facility Lessee may elect to renew this Facility FMV Renewal Lease pursuant to this SECTION 15.2 and exercise its other rights under such Section only if (i) concurrently with such election, the Facility Lessee also elects to renew each Other Facility Lease pursuant to SECTION 15.1 thereof and (ii) concurrently with the renewal of this Facility Lease, the Facility Lessee renews each Other Facility Lease in accordance with SECTION 15.1 thereofTerm shall thereupon take effect as provided herein.

Fair Market Value Renewal Lease Terms. Not earlier than 42 forty-two (42) months prior to, but not less than 18 months prior to, to the expiration of the Basic Lease Term or any Term, the First Wintergreen Renewal Lease Term, so long as no Material the Second Wintergreen Renewal Lease Term, or any other Renewal Lease Term, unless a Lease Bankruptcy or Payment Default or Lease Event of Default shall have occurred and be continuing on the date any notice is given pursuant to this SECTION 15.2 and no Material Lease Default or Lease Event of Default shall have occurred and be continuing on the date the lease renewal proposed pursuant to this SECTION 15.2 is to commencecontinuing, the Facility Lessee may deliver to the Owner Lessor a notice (which notice may be in addition to a notice of the Facility Lessee's tentative interest in electing the First Wintergreen Renewal Lease Term or the Second Wintergreen Renewal Lease Term, as applicable) of the Facility Lessee's tentative interest in renewing this Facility Lease for a term (each such term, a "FMV RENEWAL LEASE TERMRenewal Lease Term") commencing upon on the day ---------------------- following the last day of the Basic Lease Term or a Renewal Lease Term otherwise expiring and extending for no less than two years and no more than five years; provided that, the Facility Lease Term shall not exceed 49 years; provided further that unless such FMV Renewal Lease Term extends to the end of the useful life of such Units, no such FMV Renewal Lease Term shall extend beyond the date that is three (3) years prior to the end of the useful life of such Units (as set forth in the most recent appraisal obtained pursuant to Section 4.1(o) of the Participation Agreement, Section 15.1 or 15.2 of this Facility Lease or Section 2.3(a) or (b) of the Site Lease and Sublease). Unless the Facility Lessee shall have irrevocably elected to renew this Facility Lease for a Wintergreen Renewal Lease Term pursuant to Sections 15.1 or 15.2 (it being understood that the exercise by the Facility Lessee of its right to renew this Facility Lease at the end of the Basic Lease Term or at the end of the First Wintergreen Renewal Lease Term pursuant to Sections 15.1 or 15.2 hereof, respectively, shall not impair its right to renew this Facility Lease at any time thereafter pursuant to this Section 15.3), and provided that no Lease Bankruptcy or Payment Default or Lease Event of Default shall have occurred and be continuing on any such notice date or on the date of expiration of the Basic Lease Term or the Renewal Lease Term otherwise expiring immediately preceding such FMV Renewal Lease Term, as the case may be, on or prior to eighteen (18) months before the expiration of the existing Basic Lease Term or the relevant Renewal Lease Term as the case may be, the Facility Lessee may deliver to the Owner Lessor a further notice irrevocably electing to renew this Facility Lease for the FMV Renewal Lease Term tentatively elected as aforesaid and, subject to neither a Significant Lease Default nor an Lease Event of Default having occurred and extending for no less than one year and 37 no more than five years; PROVIDED THAT no continuing on the last day of the Basic Lease Term or the Renewal Lease Term immediately preceding the such FMV Renewal Lease Term, as the case may be, the FMV Renewal Lease Term shall extend beyond the first date (rounded to the last day of the immediately preceding whole year) thereupon take effect as of which 10% or less of the estimated remaining economic useful life of the Facility as of the Closing Date would remain (such estimated remaining economic useful life being measured as of the Closing Date) and on or after which the estimated Fair Market Sales Value of the Facility is expected to be less than 10% of the Purchase Price (in each case, as set forth in the most recent of (a) the Closing Appraisal, (b) the appraisal obtained in connection with the Facility Lessee's option to elect the First Renewal Term (the "FIRST RENEWAL Option") and (c) the appraisal obtained in connection with the Facility Lessee's option to elect the Second Renewal Term (the "SECOND RENEWAL OPTIONprovided herein.") The Facility Lessee may withdraw any notice given in accordance with this SECTION 15.2 by written notice of such withdrawal to the Owner Lessor on or prior to 18 months before commencement of the proposed Fair Market Value Renewal Lease Term. Notwithstanding the foregoing, the Facility Lessee may elect to renew this Facility Lease pursuant to this SECTION 15.2 and exercise its other rights under such Section only if (i) concurrently with such election, the Facility Lessee also elects to renew each Other Facility Lease pursuant to SECTION 15.1 thereof and (ii) concurrently with the renewal of this Facility Lease, the Facility Lessee renews each Other Facility Lease in accordance with SECTION 15.1 thereof.

Fair Market Value Renewal Lease Terms. Not earlier than 42 months prior to, but not less than 18 months prior to, the expiration of the Basic Lease Term or any Renewal Lease Term, so long as no Material Lease Default or Lease Event of Default shall have occurred and be continuing on the date any notice is given pursuant to this SECTION Section 15.2 and no Material Lease Default or Lease Event of Default shall have occurred and be continuing on the date the lease renewal proposed pursuant to this SECTION Section 15.2 is to commence, the Facility Lessee may deliver to the Owner Lessor a notice (which notice may be in addition to a notice of the Facility Lessee's interest in electing the First Renewal Term or the Second Renewal Term, as applicable) of the Facility Lessee's interest in renewing this Facility Lease for a term (each such term, a "FMV RENEWAL LEASE TERMRenewal Lease Term") commencing upon expiration of the Basic Lease Term or the Renewal Lease Term otherwise expiring and extending for no less than one year and 37 no more than five years; PROVIDED THAT provided that no such FMV Renewal Lease Term shall extend beyond the first date (rounded to the last day of the immediately preceding whole year) as of which 10% or less of the estimated remaining economic useful life of the Facility as of the Closing Date would remain (such estimated remaining economic useful life being measured as of the Closing Date) and on or after which the estimated Fair Market Sales Value of the Facility is expected to be less than 10% of the Purchase Price (in each case, as set forth in the most recent of (a) the Closing Appraisal, (b) the appraisal obtained in connection with the Facility Lessee's option to elect the First Renewal Term (the "FIRST RENEWAL First Renewal Option") and (c) the appraisal obtained in connection with the Facility Lessee's option to elect the Second Renewal Term (the "SECOND RENEWAL OPTIONSecond Renewal Option.") The Facility Lessee may withdraw any notice given in accordance with this SECTION Section 15.2 by written notice of such withdrawal to the Owner Lessor on or prior to 18 months before commencement of the proposed Fair Market Value Renewal Lease Term. Notwithstanding the foregoing, the Facility Lessee may elect to renew this Facility Lease pursuant to this SECTION Section 15.2 and exercise its other rights under such Section only if (i) concurrently with such election, the Facility Lessee also elects to renew each Other Facility Lease pursuant to SECTION Section 15.1 thereof and (ii) concurrently with the renewal of this Facility Lease, the Facility Lessee renews each Other Facility Lease in accordance with SECTION Section 15.1 thereof.

Fair Market Value Renewal Lease Terms. Not earlier than 42 thirty-six (36) months and not later than twelve (12) months prior to, but not less than 18 months prior to, to the expiration of the Basic Lease Term or any Term, the First Wintergreen Renewal Lease Term, so long as no Material the Second Wintergreen Renewal Lease Default Term, or any other Renewal Lease Term, unless a Lease Event of Default shall have occurred and be continuing on the date any notice is given pursuant to this SECTION 15.2 and no Material Lease Default or Lease Event of Default shall have occurred and be continuing on the date the lease renewal proposed pursuant to this SECTION 15.2 is to commencecontinuing, the Facility Lessee may deliver to the Owner Lessor a written notice (which notice may be in addition to a notice of the Facility Lessee's tentative interest in electing the First Wintergreen Renewal Lease Term or the Second Wintergreen Renewal Lease Term, as applicable) of the Facility Lessee's tentative interest in renewing this Facility Lease for a term (each such term, a "FMV RENEWAL LEASE TERMRenewal Lease Term") commencing upon on the day following the last day of the Basic Lease Term or a Renewal Lease Term otherwise expiring and extending for no fewer than three years and no more than five years. Unless the Lessee shall have irrevocably elected to renew this Facility Lease for a Wintergreen Renewal Lease Term pursuant to Sections 15.1 or 15.2 (it being understood that the exercise by the Lessee of its right to renew this Facility Lease at the end of the Basic Lease Term or at the end of the First Wintergreen Renewal Lease Term pursuant to Sections 15.1 or 15.2 hereof, respectively, shall not impair its right to renew this Facility Lease at any time thereafter pursuant to this Section 15.3), and provided that no Lease Event of Default shall have occurred and be continuing on any such notice date or on the date of expiration of the Basic Lease Term or the Renewal Lease Term otherwise expiring immediately preceding such FMV Renewal Lease Term, as the case may be, on or prior to twelve (12) months before the expiration of the existing Basic Lease Term or the relevant Renewal Lease Term as the case may be, the Lessee may deliver to the Owner Lessor a further notice in writing irrevocably electing to renew this Facility Lease for the FMV Renewal Lease Term tentatively elected as aforesaid and, subject to no Significant Lease Default or Lease Event of Default having occurred and extending for no less than one year and 37 no more than five years; PROVIDED THAT no continuing on the last day of the Basic Lease Term or the Renewal Lease Term immediately preceding such FMV Renewal Lease Term, as the case may be, the FMV Renewal Lease Term shall extend beyond the first date (rounded to the last day of the immediately preceding whole year) thereupon take effect as of which 10% or less of the estimated remaining economic useful life of the Facility as of the Closing Date would remain (such estimated remaining economic useful life being measured as of the Closing Date) and on or after which the estimated Fair Market Sales Value of the Facility is expected to be less than 10% of the Purchase Price (in each case, as set forth in the most recent of (a) the Closing Appraisal, (b) the appraisal obtained in connection with the Facility Lessee's option to elect the First Renewal Term (the "FIRST RENEWAL Option") and (c) the appraisal obtained in connection with the Facility Lessee's option to elect the Second Renewal Term (the "SECOND RENEWAL OPTIONprovided herein.") The Facility Lessee may withdraw any notice given in accordance with this SECTION 15.2 by written notice of such withdrawal to the Owner Lessor on or prior to 18 months before commencement of the proposed Fair Market Value Renewal Lease Term. Notwithstanding the foregoing, the Facility Lessee may elect to renew this Facility Lease pursuant to this SECTION 15.2 and exercise its other rights under such Section only if (i) concurrently with such election, the Facility Lessee also elects to renew each Other Facility Lease pursuant to SECTION 15.1 thereof and (ii) concurrently with the renewal of this Facility Lease, the Facility Lessee renews each Other Facility Lease in accordance with SECTION 15.1 thereof.

Fair Market Value Renewal Lease Terms. Not earlier than 42 months prior to, but not less than 18 months prior to, the expiration of the Basic Lease Term or any Renewal Lease Term, so long as no Material Lease Default or Lease Event of Default shall have occurred and be continuing on the date any notice is given pursuant to this SECTION Section 15.2 and no Material Lease Default or Lease Event of Default or Material Lease Default shall have occurred and be continuing on the date the lease renewal proposed pursuant to this SECTION Section 15.2 is to commence, the Facility Lessee may deliver to the Owner Lessor a notice (which notice may be in addition to a notice of the Facility Lessee's interest in electing the First Wintergreen Renewal Lease Term or the Second Wintergreen Renewal Lease Term, as applicable) of the Facility Lessee's interest in renewing this Facility Lease for a term (each such term, a "FMV RENEWAL LEASE TERM") commencing upon expiration of the Basic Lease Term or the Renewal Lease Term otherwise expiring and extending for no less than one year two years and 37 no more than five years; PROVIDED THAT no that, unless such FMV Renewal Lease Term extends to the end of the useful life of the Facility, no Renewal Lease Term shall extend beyond the first date (rounded that is 36 months prior to the last day end of the immediately preceding whole year) as of which 10% or less of the estimated remaining economic useful life of the Facility as of the Closing Date would remain (such estimated remaining economic useful life being measured as of the Closing Date) and on or after which the estimated Fair Market Sales Value of the Facility is expected to be less than 10% of the Purchase Price (in each case, as set forth in the most recent of (a) the Closing Date Appraisal, (b) the appraisal obtained by the Facility Lessee in connection with the Facility Lessee's option to elect determination of the First Wintergreen Renewal Lease Term (the "FIRST RENEWAL Option") and (c) the appraisal obtained by the Facility Lessee in connection with the Facility Lessee's option to elect determination of the Second Wintergreen Renewal Term (the "SECOND RENEWAL OPTION.") Lease Term). The Facility Lessee may withdraw any notice given in accordance with this SECTION Section 15.2 by written notice of such withdrawal to the Owner Lessor on or prior to 18 months before commencement of the proposed Fair Market Value Renewal Lease Term. Notwithstanding the foregoingand if such notice is not so withdrawn, the Facility Lessee may elect shall be deemed to have irrevocably elected to renew the Facility Lease for the FMV Renewal Term. It shall be a condition to the renewal of this Facility Lease pursuant to this SECTION Section 15.2 and exercise its other rights under such Section only if (i) concurrently with such election, the Facility Lessee also elects to renew that each Other Facility Lease pursuant to SECTION 15.1 thereof and (ii) concurrently with the renewal of this Facility Lease, the Facility Lessee renews each Other Facility Lease in accordance with SECTION 15.1 thereofshall be renewed.

Fair Market Value Renewal Lease Terms. Not earlier than 42 months prior to, but not less than 18 months prior to, the expiration of the Basic Lease Term or any Renewal Lease Term, so long as no Material Lease Default or Lease Event of Default shall have occurred and be continuing on the date any notice is given pursuant to this SECTION 15.2 and no Material Lease Default or Lease Event of Default shall have occurred and be continuing on the date the lease renewal proposed pursuant to this SECTION 15.2 is to commence, the Facility Lessee may deliver to the Owner Lessor a notice (which notice may be in addition to a notice of the Facility Lessee's interest in electing the First Renewal Term or the Second Renewal Term, as applicable) of the Facility Lessee's interest in renewing this Facility Lease for a term (each such term, a "FMV RENEWAL LEASE TERM") commencing upon expiration of the Basic Lease Term or the Renewal Lease Term otherwise expiring and extending for no less than one year and 37 no more than five years; PROVIDED THAT that, no such FMV Renewal Lease Term shall extend beyond the first date (rounded to the last day of the immediately preceding whole year) as of which 10% or less of the estimated remaining economic useful life of the Facility as of the Closing Date would remain (such estimated remaining economic useful life being measured as of the Closing Date) and on or after which the estimated Fair Market Sales Value of the Facility is expected to be less than 10% of the Purchase Price (in each case, as set forth in the most recent of (a) the Closing Appraisal, (b) the appraisal obtained in connection with the Facility Lessee's option to elect the First Renewal Term (the "FIRST RENEWAL OptionOPTION") and (c) the appraisal obtained in connection with the Facility Lessee's option to elect the Second Renewal Term (the "SECOND RENEWAL OPTION.") The Facility Lessee may withdraw any notice given in accordance with this SECTION 15.2 by written notice of such withdrawal to the Owner Lessor on or prior to 18 months before commencement of the proposed Fair Market Value Renewal Lease Term. Notwithstanding the foregoing, the Facility Lessee may elect to renew this Facility Lease pursuant to this SECTION 15.2 and exercise its other rights under such Section only if (i) concurrently with such election, the Facility Lessee also elects to renew each Other Facility Lease pursuant to SECTION 15.1 thereof and (ii) concurrently with the renewal of this Facility Lease, the Facility Lessee renews each Other Facility Lease in accordance with SECTION 15.1 thereof.

Fair Market Value Renewal Lease Terms. Not earlier than 42 months prior to, but not less than 18 months prior to, to the expiration of the Basic Lease Term or any Term, the First Wintergreen Renewal Lease Term, so long as no Material the Second Wintergreen Renewal Lease Term, or any other Renewal Lease Term, unless a Significant Lease Default or Lease Event of Default shall have occurred and be continuing on the date any notice is given pursuant to this SECTION 15.2 and no Material Lease Default or Lease Event of Default shall have occurred and be continuing on the date the lease renewal proposed pursuant to this SECTION 15.2 is to commencecontinuing, the Facility Lessee may deliver to the Owner Lessor a notice (which notice may be in addition to a notice of the Facility Lessee's tentative interest in electing the First Wintergreen Renewal Lease Term or the Second Wintergreen Renewal Lease Term, as applicable) of the Facility Lessee's tentative interest in renewing this Facility Lease for a term (each such term, a "FMV RENEWAL LEASE TERMRenewal Lease Term") commencing upon on the day following the last day of the Basic Lease Term or a Renewal Lease Term otherwise expiring and extending for no less than two years and no more than five years; provided that, unless such FMV Renewal Lease Term extends to the end of the useful life of the Facility, no such FMV Renewal Lease Term shall extend beyond the date that is three (3) years prior to the end of the useful life of the Facility (as set forth in the most recent appraisal obtained pursuant to Section 4.1(n) of the Participation Agreement, Section 15.1 or 15.2 of this Facility Lease or Section 2.3(a) or (b) of the Site Lease and Sublease). Unless the Facility Lessee shall have irrevocably elected to renew this Facility Lease for a Wintergreen Renewal Lease Term pursuant to Sections 15.1 or 15.2 (it being understood that the exercise by the Facility Lessee of its right to renew this Facility Lease at the end of the Basic Lease Term or at the end of the First Wintergreen Renewal Lease Term pursuant to Sections 15.1 or 15.2, respectively, shall not impair its right to renew this Facility Lease at any time thereafter pursuant to this Section 15.3), and provided that neither a Significant Lease Default nor a Lease Event of Default shall have occurred and be continuing on any such notice date or on the date of expiration of the Basic Lease Term or the Renewal Lease Term otherwise expiring and extending for no less than one year and 37 no more than five years; PROVIDED THAT no immediately preceding such FMV Renewal Lease Term shall extend beyond the first date (rounded to the last day of the immediately preceding whole year) as of which 10% or less of the estimated remaining economic useful life of the Facility as of the Closing Date would remain (such estimated remaining economic useful life being measured as of the Closing Date) and on or after which the estimated Fair Market Sales Value of the Facility is expected to be less than 10% of the Purchase Price (in each caseTerm, as set forth in the most recent of (a) the Closing Appraisalcase may be, (b) the appraisal obtained in connection with the Facility Lessee's option to elect the First Renewal Term (the "FIRST RENEWAL Option") and (c) the appraisal obtained in connection with the Facility Lessee's option to elect the Second Renewal Term (the "SECOND RENEWAL OPTION.") The Facility Lessee may withdraw any notice given in accordance with this SECTION 15.2 by written notice of such withdrawal to the Owner Lessor on or prior to 18 months before commencement the expiration of the proposed Fair Market Value existing Basic Lease Term or the relevant Renewal Lease Term. Notwithstanding , as the foregoingcase may be, the Facility Lessee may elect deliver to the Owner Lessor a further notice irrevocably electing to renew this Facility Lease pursuant to this SECTION 15.2 for the FMV Renewal Lease Term tentatively elected as aforesaid, and exercise its other rights under such Section only if (i) concurrently with such election, the Facility Lessee also elects to renew each Other Facility FMV Renewal Lease pursuant to SECTION 15.1 thereof and (ii) concurrently with the renewal of this Facility Lease, the Facility Lessee renews each Other Facility Lease in accordance with SECTION 15.1 thereofTerm shall thereupon take effect as provided herein.