Subdivision/Separation Sample Clauses
Subdivision/Separation. In order to satisfy the financing and transactional requirements of the separate Lenders and power purchasers of each Wind Energy Improvement, the Lessee may, upon prior written notice to Lessor and subject to applicable law, (i) subdivide the leasehold estate and all rights and obligations of Lessee granted hereby into separate leasehold estates (the “Subdivided Leaseholds”), referencing specific portions of the Premises to be included in each Subdivided Leasehold; and (ii) assign each Subdivided Leasehold to a single purpose limited liability company or legal entity that will own the Wind Energy Improvement located within the Subdivided Leasehold. In lieu of such subdivisions, at the request of Lessee, Lessor and Lessee will (i) amend this Lease to remove portions of the Leased Property other than that required for the initial Wind Energy Improvement; and (ii) cause Lessor and any designee of Lessee to execute one or more separate leases with respect to such removed portions of the Leased Property, each in form and substance materially identical to this Lease (with such changes as shall be necessary to reflect such removal). In order to comply with the separate financial and security requirements of separate Wind Energy Improvements, the segregated leasehold estates will not be subject to cross defaults with each other, allowing each lessee and its Security Assignees to enjoy quiet title to their respective leasehold rights and interests regardless of any default of another lessee.
Subdivision/Separation. In order to satisfy the financing and transactional requirements of separate lenders and power purchasers of the Solar Facilities, Lessee may, upon prior written notice to Owner and subject to applicable law, (i) subdivide the leasehold estate and all rights and obligations of Lessee granted hereby into separate leasehold estates (the “Subdivided Leaseholds”), referencing specific portions of the Property to be included in each Subdivided Leasehold; and (ii) assign each Subdivided Leasehold to a single purpose limited liability company or legal entity that will own the Solar Facilities located within the Subdivided Leasehold. In order to comply with the separate financial and security requirements of separate Solar Facilities, the segregated leasehold estates will not be subject to cross defaults with each other, allowing each lessee and its Leasehold Mortgagee to enjoy quiet title to their respective leasehold rights and interests regardless of any default of another lessee. Owner shall at any time and from time to time, within fifteen (15) days after a written request by ▇▇▇▇▇▇ execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, all conveyances, assignments and all other instruments and documents as may be reasonably necessary in order to complete the transactions herein provided and to carry out the terms and provisions of this Section 12.6. ▇▇▇▇▇▇ agrees to reimburse Owner for reasonable attorney's fees incurred with respect to a Subdivided Leasehold, amended lease or new lease by Lessee under this Section 12.6.. Lessee shall reimburse Owner within ten (10) days of Lessee's receipt of executed lease documents requested by ▇▇▇▇▇▇ and appropriate invoices for the attorney's fees incurred by Owner.