Facility Contract definition
Examples of Facility Contract in a sentence
Borrower, pursuant to the applicable Facility Contract, will cause the End-User under each Facility Contract to maintain all Facility Equipment in accordance with the terms of all insurance policies which are or may be in effect with respect thereto so as not to alter or impair any of the benefits or coverage to which Borrower or the applicable End-User is entitled under any such insurance policies.
If the borrower requests and we agree to make any other loan advances in the future, the borrower will enter into another Commercial Facility Contract with us, made up of the Commercial Facility Details document and the Commercial Facility Terms.
Lender shall not take any action or exercise any right that would disturb any End-User's full and quiet enjoyment of all of such End-User's rights under that Facility Contract.
Operator shall not be responsible for any obligations of Owner, including, without limitation, obligations to make any payments pursuant to or otherwise comply with any Cogen Facility Contract or any other agreement to which Owner is or may be a party, nor shall Operator have any obligations with respect to the decommissioning or costs of decommissioning of the Cogen Facility, including remediation of the Cogen Facility site and dismantling and disposal of equipment.
Upon the occurrence of a Contract Event of Default, Borrower shall, if known to Borrower, immediately deliver to Lender written notice thereof, which notice shall identify the Facility Contract which is in default and the applicable Advance, and describe the nature of such default and the actions Borrower proposes to undertake with respect to such default.