Common use of Operating Term Clause in Contracts

Operating Term. This Lease will automatically be extended for the Operating Term upon the earlier of: (i) the date when at least one solar generating facility installed on the Premises is a Commercially Operational Solar Facility, as defined in Exhibit D (the “Operation Date”); or (ii) the date when Owner receives written notice from Project Company of Project Company’s election to extend the Term for the Operating Term (“Operating Term Notice Date”), provided that either the Operation Date or the Operating Term Notice Date occurs prior to the expiration of the Development Period. The Operating Term of this Lease (“Operating Term”) will be for a period of twenty-five (25) years from the earlier of either the Operation Date or the Operating Term Notice Date, as applicable, unless terminated earlier in accordance with the terms of this Lease. The Development Period ends at the time the Operating Term begins.

Operating Term. This Lease will automatically be extended for the Operating Term upon the earlier of: (i) the date when at least one solar generating facility installed significant construction of the Solar Facilities commences (defined as the date on which the use of a majority of the land within the Premises is a Commercially Operational changes from its existing state to allow for the construction of the Solar Facility, as defined in Exhibit D (the “Operation Date”)Facilities; or (ii) the date when Owner receives written notice from Project Company of Project Company’s election to extend the Term for the Operating Term (“Operating Term Notice Date”), provided that either the Operation Date or the Operating Term Notice Date occurs prior to the expiration of the Development Period. The Operating Term of this Lease (“Operating Term”) will be for a period of twenty-five (25) years from the earlier of either the Operation Date or the Operating Term Notice Date, as applicable, unless terminated earlier in accordance with the terms of this Lease. The Development Period ends at the time the Operating Term begins.