Common use of Termination with Respect to an Owner Compressor Clause in Contracts

Termination with Respect to an Owner Compressor. Notwithstanding the other provisions of this Section 3 to the contrary (but subject to the provisions of Section 12), the Management Term shall terminate with respect to any Owner Compressor which becomes an Obsolete Compressor, is subject to a Casualty Loss (other than a temporary requisition by any Governmental Authority for a period of not more than 180 days), or has been sold or foreclosed (any of the foregoing, a “Compressor Termination Event”) as of the date of such Compressor Termination Event; provided that as to any Owner Compressor subject to a Compressor Termination Event for which a Substitute Compressor has not been provided in accordance with Section 4.02 of the Contribution Agreement, the Manager shall continue to have the duty, to the extent any of the following amounts are actually received by the Manager, to deposit into the Trust Account all Casualty Proceeds or other amounts received with respect to such Obsolete Compressor or the Owner Compressor that was subject to such Casualty Loss, at such time as provided for herein or in the Indenture. The Issuer and the Manager shall notify the other party and the Indenture Trustee promptly after it obtains knowledge of any Compressor Termination Event.