PSCW Return Event. If a PSCW Return Event occurs 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) and a Lessor Termination Notice, exercise its rights and remedies pursuant to Section 5.4(b), provided that for purposes of exercising its rights and remedies under Section 5.4(b), Lessee shall be deemed to have failed to achieve the Lease Effective Date by the Required Lease Effective Date pursuant to Section 5.4(a) and Lessor shall be entitled to exercise its rights and remedies pursuant to Section 5.4(b).
Appears in 2 contracts
Samples: Facility Lease Agreement (Wisconsin Electric Power Co), Washington I Facility Lease Agreement (Wisconsin Electric Power Co)
PSCW Return Event. If a PSCW Return Event occurs 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) and a Lessor Termination Notice, exercise its rights and remedies pursuant to Section 5.4(b), provided that for purposes of exercising its rights and remedies under Section 5.4(b), Lessee shall be deemed to have failed to achieve the Lease Effective Date by the Required Lease Effective Date pursuant to Section 5.4(a) and Lessor shall be entitled to exercise its rights and remedies pursuant to Section 5.4(b).
Appears in 2 contracts
Samples: Assignment and Assumption Agreement (Wisconsin Energy Corp), Assignment and Assumption Agreement (Wisconsin Energy Corp)
