Common use of Provider Termination Clause in Contracts

Provider Termination. Provider shall have the right, in Provider’s sole and absolute discretion, to terminate this Agreement upon written notice: 10.3.1 of the occurrence of an unstayed order of a court or administrative agency having the effect of subjecting the sales of Energy to federal or state regulation of prices and/or service provided the Provider sends written notice within 30 days of the issuance or occurrence of such order; 10.3.2 if the elimination or alteration of one or more Environmental Financial Incentives or other change in law results in a material adverse economic impact on Provider, provided the Provider sends written notice of its intent to terminate within 30 days of the effective date of such elimination, alteration or change in law and includes a detailed written explanation identifying the change and the resulting adverse economic impact and supporting data and calculations. A Provider termination under this Section 10.3.2 shall not be deemed a default by Host hereunder so long as Provider removes the System as required and otherwise complies with obligations that survive termination of the Agreement. Upon the receipt of Provider’s notice of its intent to terminate under this Section 10.3.2 Host shall have the option to purchase the System and Environmental Attributes from the Provider for a purchase price equal to the Fair Market Value of the System (provided that the appraiser determining Fair Market Value shall consider and select the higher value of both (i) the value of the System in situ, taking into account the new condition that is the basis for Provider’s termination, and (ii) the value of the System removed from the System Site, less the costs of removal). If Host does not exercise its Option within 30 days, the Agreement shall be terminated except for obligations which survive termination.