Common use of TITLE; TERM Clause in Contracts

TITLE; TERM. (a) Except as otherwise set forth in this Agreement, as between the Parties during the Term of this Agreement, all ownership of and title to the System shall be with the Owner. (b) Title to and risk of loss of the Energy will pass from Owner to Buyer at the Meter. Owner warrants that it will deliver the Energy to Buyer at the Meter free and clear of all Liens. (c) The Term of this Agreement begins on the Effective Date and ends on the twentieth (20th) anniversary of the Commercial Operation Date. Owner may extend the Term for two (2) five (5) year terms. Owner shall exercise each extension option by providing written notice to Buyer at least ninety (90) days prior to the expiration of the then current Term.

Appears in 2 contracts

Sources: Power Purchase Agreement, Power Purchase Agreement