Common use of Maintenance and Repair; Insurance; Taxes; Disposition Clause in Contracts

Maintenance and Repair; Insurance; Taxes; Disposition. For so long as the Company shall own the Project, (i) the Company shall maintain or cause to be maintained the Project in good repair and keep it properly insured and shall promptly pay or cause to be paid all costs thereof, and (ii) the Company shall promptly pay or cause to be paid all installments of taxes, installments of special assessments, and all governmental, utility and other charges with respect to the Project, when due. The Company may, at its own expense and in its own name in good faith contest or appeal any such taxes, assessments or other charges, or installments thereof, but shall not permit any such taxes, assessments or other charges, or installments thereof, to remain unpaid if such nonpayment shall subject the Project or any part thereof to loss or forfeiture. The Company, subject to the provisions of Section 3.4 hereof, is not required by this Agreement to operate, or cause to be operated, any portion of the Project after the Company shall deem in its discretion that such continued operation by the Company is not advisable, and in such event the Company may sell, lease or retire all or any such portion of the Project. Subject to the provisions of Section 3.4 hereof, the net proceeds from such sale, lease or other disposition, if any, shall belong to, and may be used for any lawful purpose by, the Company. Upon disposition of the Project in its entirety by the Company in accordance with this Section 5.3, the Company shall be discharged from its obligations to operate, maintain, repair and insure the Project as set forth in this Section 5.3. Any such sale, lease or other disposition shall comply with the requirements of the Tax Agreement. Under any and all circumstances, the Issuer shall have no obligation whatsoever with respect to the operation, maintenance, repair or insurance of the Project.

Maintenance and Repair; Insurance; Taxes; Disposition. For so long as the Company shall own own, operate or control the ProjectProject (or portion thereof), to the extent permitted 4840-3734-7631.3 by applicable law and regulation, (i) the Company shall maintain or cause to be maintained the Project (or portion thereof) during the term of this Agreement in good repair and keep it properly insured and shall promptly pay or cause to be paid all costs thereof, and (ii) the Company shall promptly pay or cause to be paid all installments of taxes, installments of special assessments, and all governmental, utility and other charges with respect to the ProjectProject (or portion thereof), when due. The Company may, at its own expense and in its own name in good faith contest or appeal any such taxes, assessments or other charges, or installments thereof, but shall not permit any such taxes, assessments or other charges, or installments thereof, to remain unpaid if such nonpayment shall subject the Project or any part thereof to loss or forfeiture. The Company, subject to the provisions of Section 3.4 hereof, is not required by this Agreement to operate, or cause to be operated, any portion of the Project owned by the Company after the Company shall deem in its discretion that such continued operation by the Company is not advisable, and in such event the Company may sell, lease or retire all or any such portion of the Project. Subject to the provisions of Section 3.4 hereof, the net proceeds from such sale, lease or other disposition, if any, shall belong to, and may be used for any lawful purpose by, the Company. Upon disposition of the Project in its entirety by the Company in accordance with this Section 5.3Section, the Company shall be discharged from its obligations to operate, maintain, repair and insure the Project as set forth in this Section 5.3Section. Any such sale, lease or other disposition shall comply with the requirements of the Tax Agreement. Under any and all circumstances, the Issuer shall have no obligation whatsoever with respect to the operation, maintenance, repair or insurance of the Project.

Maintenance and Repair; Insurance; Taxes; Disposition. Because the Company sold the Water Facilities that constitute a portion of the "Project" to the Truckee Xxxxxxx Water Authority in June of 2001 and does not operate or control the Water Facilities, the Company has no obligation to operate, maintain, repair or insure the Water Facilities. For so long as the Company shall own own, operate or control the ProjectGas Facilities (or portion thereof), to the extent permitted by applicable law and regulation, (i) the Company shall maintain or cause to be maintained the Project Gas Facilities (or portion thereof) during the term of this Agreement in good repair and keep it them properly insured and shall promptly pay or cause to be paid all costs thereof, and (ii) the Company shall promptly pay or cause to be paid all installments of taxes, installments of special assessments, and all governmental, utility and other charges with respect to the ProjectGas Facilities (or portion thereof), when due. The Company may, at its own expense and in its own name in good faith contest or appeal any such taxes, assessments or other charges, or installments thereof, but shall not permit any such taxes, assessments or other charges, or installments thereof, to remain unpaid if such nonpayment shall subject the Project Gas Facilities or any part thereof to loss or forfeiture. The Company, subject to the provisions of Section 3.4 hereof, is not required by this Agreement to operate, or cause to be operated, any portion of the Project Gas Facilities owned by the Company after the Company shall deem in its discretion that such continued operation by the Company is not advisable, and in such event the Company may sell, lease or retire all or any such portion of the ProjectGas Facilities. Subject to the provisions of Section 3.4 hereof, the net proceeds from such sale, lease or other disposition, if any, shall belong to, and may be used for any lawful purpose by, the Company. Upon disposition of the Project Gas Facilities in its their entirety by the Company in accordance with this Section 5.3Section, the Company shall be discharged from its obligations to operate, maintain, repair and insure the Project Gas Facilities as set forth in this Section 5.3Section. Any such sale, lease or other disposition shall comply with the requirements 4846-1784-3503.10 of the Tax Agreement. Under any and all circumstances, the Issuer shall have no obligation whatsoever with respect to the operation, maintenance, repair or insurance of the Project.