Common use of Substitution of Nuclear Material Clause in Contracts

Substitution of Nuclear Material. The Lessee shall be permitted to exchange Nuclear Material for other Nuclear Material of equal or greater fair market value provided that the Lessor receives title to such substituted Nuclear Material free and clear of any Lien other than such Liens as may be created by the Security Agreement or permitted under Section 10(h). Any additional costs incurred in order to effect such an exchange shall be paid by the Lessor in accordance with the procedures set forth in Section 6(c) and shall be added to the Acquisition Cost of the Nuclear Material. A supplemental Leasing Record dated the date that the Lessor makes such further payment shall be signed by the Lessor and the Lessee to record the revised Acquisition Cost and shall include a full description of the substituted Nuclear Material, notice of any change in location and such additional details upon which the parties may agree.