Common use of System and Facility Damage Clause in Contracts

System and Facility Damage. a. Until the PACE Tax Assessment Contract has been paid in full and terminated in accordance with its terms, in the event Purchaser purchases the System as provided in Section 14(b)(i) of the Agreement, any payment made by Purchaser to Seller on account of the System purchase price shall first be used by Seller as a deposit to fund in advance the Assessment with the PACE Taxing Authority until the Assessment has been paid in full, after which any remaining amount shall be retained by Seller. b. Until the PACE Tax Assessment Contract has been paid in full and terminated in accordance with its terms, in the event Purchaser pays the Termination Payment to Seller as provided in Section 11(b)(iii)(1) of the Agreement, any payment made by Purchaser to Seller on account of such Termination Payment shall first be used by Seller to pay future payments of Assessments with the PACE Taxing Authority until the Assessment has been paid in full, after which any remaining amount shall be retained by Seller.

System and Facility Damage. a. Until the PACE Tax Assessment Contract has been paid in full and terminated in accordance with its terms, in the event Purchaser purchases the System as provided in Section 14(b)(i) of the Agreement, any payment made by Purchaser to Seller on account of the System purchase price shall first be used by Seller as a deposit to fund in advance the Assessment with the PACE Taxing Authority until the Assessment has been paid in full, after which any remaining amount shall be retained by Seller. b. . Until the PACE Tax Assessment Contract has been paid in full and terminated in accordance with its terms, in the event Purchaser pays the Termination Payment to Seller as provided in Section 11(b)(iii)(1) of the Agreement, any payment made by Purchaser to Seller on account of such Termination Payment shall first be used by Seller to pay future payments of Assessments with the PACE Taxing Authority until the Assessment has been paid in full, after which any remaining amount shall be retained by Seller.