Removal Assurances Sample Clauses

Removal Assurances. On or by the twentieth (20th) anniversary of the Operation Date, or one year before termination or expiration of a contractual obligation to operate the Facility and sell the electrical output from the Facilities, whichever occurs first in time, Tenant shall have an estimated amount, if any, by which the cost of removing the Solar Facilities exceeds the salvage value of such Solar Facilities (the “Net Removal Costs”). To the extent that the Net Removal Costs are zero (or negative), removal security shall not be required on the part of the Tenant In the event the salvage value is insufficient to pay for the estimated Net Removal Costs, then Tenant shall provide evidence of funds, for the dedicated cost of paying the Net Removal Costs. Tenant will determine the Net Removal Costs through a qualified third-party engineer. Owner shall have the right to contest such Net Removal Costs. Owner shall deliver notice, within thirty (30) days of receiving the written evidence of such Removal Bond, of such contest, upon which Tenant will provide a summary of how the Net Removal Costs were determined. If any requirement or right provided in this section contradicts or opposes any state or local laws, such state or local laws shall take precedence over this provision and such requirement or right shall be invalidated.