Common use of Termination by Operator Clause in Contracts

Termination by Operator. Operator shall be permitted ----------------------- to terminate this Agreement if any of the following events occur: (i) a payment default by Owner that is not cured within sixty (60) days, provided Owner has received written notice of such default; (ii) a voluntary Winding-Up of Owner commenced by Owner; (iii) an involuntary Winding-Up of Owner instituted against Owner, that is not stayed, dismissed or terminated within ninety (90) days after commencement; (iv) a material default by Owner of any other obligation under this Agreement, provided Owner shall have up to sixty (60) days after receipt of written notice by Operator to cure such other default or make substantial progress (in the reasonable opinion of Operator) towards cure if the default is capable of being cured; (v) at Operator's convenience without cause upon six (6) months' prior written notice; (vi) the Project becomes subject to regulation as a public utility by any Government Agency (other than the Federal Energy Regulatory Commission); or (vii) upon thirty (30) days prior written notice if an event of Force Majeure occurs or changed condition described in Section 5.5 occurs and the Secured Party does not approve an adjustment agreed upon by Owner and Operator. Except as otherwise provided in this Section 6.3, Operator shall provide Owner with written notice of its intent to terminate this Agreement no later than three (3) months prior to the date of termination.

Termination by Operator. Operator shall be permitted to ----------------------- to terminate this Agreement if any of the following events occur: (i) a payment default by Owner that is not cured within sixty (60) days, provided Owner has received written notice of such default; (ii) a voluntary Winding-Up of Owner commenced by Owner; (iii) an involuntary Winding-Up of Owner instituted against Owner, that is not stayed, dismissed or terminated within ninety (90) days after commencement; (iv) a material default by Owner of any other obligation under this Agreement, provided Owner shall have up to sixty (60) days after receipt of written notice by Operator to cure such other default or make substantial progress (in the reasonable opinion of Operator) towards cure if the default is capable of being cured; (v) at Operator's convenience without cause upon six (6) months' prior written notice; (vi) the Project becomes subject to regulation as a public utility by any Government Agency (other than the Federal Energy Regulatory Commission); or (vii) upon thirty (30) days prior written notice if an event of Force Majeure occurs or changed condition described in Section 5.5 occurs and the Secured Party does not approve an adjustment agreed upon by Owner and Operator. Except as otherwise provided in this Section 6.3, Operator shall provide Owner with written notice of its intent to terminate this Agreement no later than three (3) months prior to the date of termination.