Rights of Lessee. Notwithstanding any provision of the Operative Agreements, if at any time all obligations (i) of the Trust under the Credit Agreement and the Security Documents and (ii) of the Lessee under the Operative Agreements have in each case been satisfied or discharged in full, then the Lessee shall be entitled to (a) terminate the Lease (to the extent not previously terminated) and (b) receive all amounts then held under the Operative Agreements and all proceeds with respect to the Equipment. Upon the fulfillment of the obligations contained in clauses (i) and (ii) above, the Lessor shall transfer to the Lessee all of its right, title and interest in and to the Equipment (to the extent not previously transferred to the Lessee in accordance with the Lease) and any amounts or proceeds referred to in the foregoing clause (b) shall be paid over to the Lessee.
Rights of Lessee. Notwithstanding any provision of the Operative Agreements, if at any time all obligations (i) of the Owner Trustee under the Credit Agreement, the Security Documents, the Trust Agreement and the other Operative Agreements and (ii) of the Lessee under the Operative Agreements have in each case been satisfied or discharged in full, then the Lessee shall be entitled to (a) terminate the Lease and (b) receive all amounts then held under the Operative Agreements and all proceeds with respect to any of the Properties. Upon the termination of the Lease pursuant to the foregoing clause (a), the Lessor shall transfer to the Lessee all of its right, title and interest free and clear of the Lien of the Lease and all Lessor Liens in and to any Properties then subject to the Lease and any amounts or proceeds referred to in the foregoing clause (b) shall be paid over to the Lessee.
Rights of Lessee. Notwithstanding the provisions of this ---------------- Indenture, including, without limitation, Section 4.3, so long as no Lease Event of Default shall have occurred and be continuing, neither the Indenture Trustee nor the Owner Trustee shall take any action contrary to, or disturb, the Lessee's rights under the Lease, except in accordance with the provisions of the Lease, including, without limitation, (i) the right to receive all monies due and payable to it in accordance with the provisions of the Lease and (ii) the Lessee's rights to possession and use of, and of quiet enjoyment of, the Equipment.
Rights of Lessee. The Lessor hereby grants and leases to the Lessee the exclusive right and privilege to drill for, develop, and produce oil and gas resources, except helium gas, in the submerged lands of the Outer Xxxxx• xxxxxx Xxxxx described as follows: Sl/2 of Block 53N 77W, OCS Leasing Map, Channel Islands Area, CAL-Map No. 6A. (Continued on reverse) containing approximately 2880.00acres or hectares (hereinafter referred to as the "leased area"). These rights include:
Rights of Lessee. The LESSEE shall have:
Rights of Lessee. Except as expressly stated in this Certificate, Lessee:
Rights of Lessee as a condition precedent to any transfer becoming effective, such transfer shall not, at the time of the transfer, materially expand Lessee's obligations under the Lease or materially reduce Lessee's rights under the Lease, in each case as compared to what such obligations and rights would have been in the absence of such transfer; provided, however, that no transfer to any Person that meets the requirements of a "citizen of the United States" under 49 U.S.C. Section 40102(a)(15) shall be deemed to materially expand Lessee's obligations or materially restrict Lessee's rights under the Lease.
Rights of Lessee. Lessee has the right to the use, operation, possession and control of the Equipment while the Lease is in effect. Lessee will have absolute control, supervision and responsibility over the operators or users of the Equipment, subject to the restrictions set forth below.
Rights of Lessee. Lessee is entitled to the use, operation, possession, and control of the leased property during the Lease term, provided Lessee is not in default of any provision of the Lease, and subject to any security interest Lessor may have given or may give to any third party during the Lease term. Lessee shall employ and have absolute control, supervision, and responsibility over any operators or users of the property, including its own employees, agents and independent contractors.
