Common use of Right of Operator Clause in Contracts

Right of Operator. Upon the occurrence and continuance of a default described in 6.01(a), the Operator may, at its option, terminate this Agreement by delivering written Notice of termination to the Owner, which Notice of termination shall be effective forty-five (45) days after the date it is received by the Owner; provided, however, that if the Owner has cured or undertaken to cure such default within thirty (30) days of actual delivery of such Notice of termination to the Owner, such Notice of termination shall be deemed to have been canceled and shall be null and void. In the event of such termination, the Owner shall pay all amounts due the Operator, including the Operator Fee, Incentive Fee (if any, for the current period), and any unreimbursed costs advanced by the Operator for Operating Costs then due. In such event, Operator shall take all necessary steps to shut down and protect the Facility, leaving the same in an orderly and safe condition, prior to leaving the premises. The rights and remedies of the Operator (and of any Person acting on behalf of or claiming through the Operator) under this Section 6.2(a) shall be the Operator's (and any such Person's) sole right and remedy for any breach of or default under the terms of this Agreement.

Right of Operator. Upon the occurrence and continuance of a default described in 6.01(a), the Operator may, at its option, terminate this Agreement by delivering written Notice of termination to the Owner, which Notice of termination shall be effective forty-five (45) days after the date it is received by the Owner; provided, however, that if the Owner has cured or undertaken to cure such default within thirty (30) days of actual delivery of such Notice of termination to the Owner, such Notice of termination shall be deemed to have been canceled and shall be null and void. In the event of such termination, the Owner shall pay all amounts due the Operator, including the Operator Fee, Incentive Fee (if any, for the current period), and any unreimbursed costs advanced by the Operator for Operating Costs then due. In such event, Operator shall take all necessary steps to shut down and protect the Facility, leaving the same in an orderly and safe condition, prior to leaving the premises. The rights and remedies of the Operator (and of any Person acting on behalf of or claiming through the Operator) under this Section 6.2(a) shall be the Operator's (and any such Person's) sole right and remedy for any breach of or default under the terms of this Agreement.Section