Common use of Project Equipment Clause in Contracts

Project Equipment. (A) The Borrower shall have the right to install, operate, use, remove and dispose of the Project Equipment in the normal and ordinary course of its business operations, and shall not be required to replace any item of Project Equipment which is discarded or sold for scrap. Except as provided in the immediately preceding sentence, the Borrower’s ability to dispose of the Project Equipment shall be governed by the provisions of Section 6.1 hereof.

Project Equipment. (A) The Borrower shall have the right to install, operate, use, remove and dispose of the Project Equipment in the normal and ordinary course of its business operations, and shall not be required to replace any item of Project Equipment which is discarded or sold for scrap. Except as provided The Borrower shall not, however, either in the immediately preceding sentenceone transaction or a series of transactions sell, the Borrower’s ability to convey, transfer, remove or otherwise dispose of more than 20% by value of the Project Equipment shall be governed without prior notice to and the consent of the Authority, unless such Project Equipment is replaced by the provisions property of Section 6.1 hereofsimilar value and utility.

Project Equipment. (A) The Borrower shall have the right to install, operate, use, remove and dispose of the Project Equipment in the normal and ordinary course of its business operations, and shall not be required to replace any item of Project Equipment which is discarded or sold for scrap. Except as provided The Borrower shall not, however, either in the immediately preceding sentenceone transaction or a series of transactions, the Borrower’s ability to sell, convey, transfer, remove or otherwise dispose of more than 20% by value of the Project Equipment shall be governed without prior notice to and the consent of the Authority, unless such Project Equipment is replaced by the provisions property of Section 6.1 hereof.similar value and utility. ARTICLE V.

Project Equipment. (A) The Borrower shall have the right to install, operate, use, remove and dispose of the Project Equipment in the normal and ordinary course of its business operations, and shall not be required to replace any item of Project Equipment which is discarded or sold for scrap. Except as provided in the immediately preceding sentence, the Borrower’s ability to dispose of the Project Equipment shall be governed by the provisions of Section 6.1 hereof.