Common use of Restrictions on Transfer of Beneficial Interest Clause in Contracts

Restrictions on Transfer of Beneficial Interest. The Owner Participant covenants and agrees that it shall not during the Facility Lease Term assign, convey or transfer any of its right, title or interest in the Beneficial Interest without the prior written consent of Midwest and, so long as the Lien of the Lease Indenture has not been terminated or discharged, without the prior written consent of the Lease Indenture Trustee and the Pass Through Trustee; provided, however, that the Owner Participant may assign, convey or transfer all or any part of its interest in the Beneficial Interest without such consent to a Person (the “Transferee”) which shall assume the duties and obligations of the Owner Participant under the Operative Documents with respect to the interest being transferred pursuant to an Assignment and Assumption Agreement substantially in the form of Exhibit J hereto, if each of the following conditions shall have been satisfied:

Appears in 4 contracts

Samples: Participation Agreement (Midwest Generation LLC), Participation Agreement (Midwest Generation LLC), Participation Agreement (Midwest Generation LLC)

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Restrictions on Transfer of Beneficial Interest. (a) The Owner Participant covenants and agrees that it shall not during the Facility Lease Term assign, convey or transfer any of its right, title or interest in the Beneficial Interest without the prior written consent of Midwest and, so long as the Lien of the Lease Indenture has not been terminated or discharged, without the prior written consent of the Lease Indenture Trustee and the Pass Through TrusteeTrustees; providedPROVIDED, howeverHOWEVER, that the Owner Participant may assign, convey or transfer all or any part of its interest in the Beneficial Interest without such consent to a Person (the “Transferee”"TRANSFEREE") which shall assume the duties and obligations of the Owner Participant under the Operative Documents with respect to the interest being transferred pursuant to an Assignment and Assumption Agreement substantially in the form of Exhibit J LL hereto, if each of the following conditions shall have been satisfied:

Appears in 2 contracts

Samples: Participation Agreement (Edison Mission Energy), Participation Agreement (Edison Mission Energy)

Restrictions on Transfer of Beneficial Interest. (a) The Owner Participant covenants and agrees that it shall not during the Facility Network Lease Term assign, convey or transfer any of its right, title or interest in the Beneficial Interest without the prior written consent of Midwest TVA and, so long as the Lien of the Lease Indenture has not been terminated or discharged, without the prior written consent of the Lease Indenture Trustee and the Pass Through Trustee(such consent not to be unreasonably withheld); provided, however, that the Owner Participant may assign, convey or transfer all or any part of its interest in the Beneficial Interest in whole without such consent to a Person (the “Transferee”) which shall assume the duties and obligations of the Owner Participant under the Operative Documents with respect to the interest being transferred pursuant to an Assignment and Assumption Agreement substantially in the form of Exhibit J D hereto, if each of the following conditions shall have been satisfied:

Appears in 1 contract

Samples: Participation Agreement (Tennessee Valley Authority)

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Restrictions on Transfer of Beneficial Interest. (a) The Owner Participant covenants and agrees that it shall not during the Facility Lease Term assign, convey or transfer any of its right, title or interest in the Beneficial Interest without the prior written consent of Midwest and, so long as the Lien of the Lease Indenture has not been terminated or dischargedLessor Notes are outstanding, without the prior written consent of the Lease Indenture Trustee and the Pass Through TrusteeHolder Representative; providedPROVIDED, howeverHOWEVER, that the Owner Participant may assign, convey or transfer all or any part of its interest in the Beneficial Interest without such consent to a Person (the “Transferee”"TRANSFEREE") which shall assume the duties and obligations of the Owner Participant under the Operative Documents with respect to the interest being transferred pursuant to an Assignment and Assumption Agreement substantially in the form of Exhibit J RR hereto, if each of the following conditions shall have been satisfied:

Appears in 1 contract

Samples: Participation Agreement (Edison Mission Energy)

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