Lessor Remedies. If a Lessee Event of Default has occurred and is continuing during the Construction Term then Lessor may, subject to Lessor delivering to Lessee a Purchase Price Notice (with the Purchase Price and the Damages Amount calculated as of the date of such notice), exercise its rights and remedies pursuant to Section 5.4 and Section 5.6, provided that for purposes of exercising its rights and remedies under Section 5.4 and Section 5.6, Lessee shall be deemed to have failed to achieve the Lease Effective Date by the Required Lease Effective Date in accordance with Section 5.4(a) and the Required Lease Effective Date shall be deemed to be the date upon which the Purchase Price Notice is delivered pursuant hereto.
Appears in 2 contracts
Samples: Washington I Facility Lease Agreement (Wisconsin Electric Power Co), Facility Lease Agreement (Wisconsin Electric Power Co)
Lessor Remedies. If a Lessee Event of Default has occurred and is continuing during the Construction Term then Lessor may, subject to Lessor delivering to Lessee a Purchase Price Notice (with the Purchase Price and the Damages Amount calculated as of the date of such notice), exercise its rights and remedies pursuant to Section 5.4 and Section 5.6, provided that for purposes of exercising its rights and remedies under Section 5.4 and Section 5.6, Lessee shall be deemed to have failed to achieve the Lease Effective Date by the Required Lease Effective Date in accordance with Section 5.4(a) and the Required Lease Effective Date shall be deemed to be the date upon which the Purchase Price Notice is delivered pursuant hereto.
Appears in 2 contracts
Samples: Assignment and Assumption Agreement (Wisconsin Energy Corp), Assignment and Assumption Agreement (Wisconsin Energy Corp)
