Facility Lessee definition

Facility Lessee shall have the meaning set forth in the recitals to the Participation Agreement.

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Facility Lessee means TVA as lessee under the Facility Lease.

Facility Lessee means PPL Montana as lessee under the Facility Lease.

Examples of Facility Lessee in a sentence

Except for its obligations under Sections 4, 6, or 7.1 hereof, by entering into the Facility Lease, the Head Lessee shall be deemed to have complied with any covenant or agreement made by it hereunder with respect to the operation, maintenance and use of the Facility during the Facility Lease Term, without necessity of any action by the Head Lessee and regardless of whether the Facility Lessee complies with its corresponding obligations under the Facility Lease.
In the case of an Early Buy Out other than in connection with an Event of Loss or a Regulatory Event of Loss, the Facility Lessee will specify a Termination Date in the Early Buy Out Notice upon which date such purchase and termination will occur (the “Early Buy Out Date”), which Early Buy Out Date shall occur on a date occurring at least thirty (30) days after the delivery of the Early Buy Out Notice.
The Facility Lessee shall enter into any amendments or modifications to the Head Lease necessary to cause such Modifications to be subject thereto; provided, that title to such Modifications will remain vested in the Head Lessor.
The Facility Lessee at any time may, at its own cost and expense and without the consent of any other Person, make or cause or permit to be made any Modification to the Facility as the Facility Lessee considers desirable in the proper conduct of its business (any such Modification which is not a Required Modification being referred to as an “Optional Modification”).
If the Verifier confirms that such adjustment is in accordance with this Section 3.4, it shall so certify to the Facility Lessee and the Owner Lessor and such certification shall be final, binding and conclusive on the Facility Lessee, the Owner Lessor and the Holdco.

More Definitions of Facility Lessee

Facility Lessee has duly filed with FERC the filings referenced in Section 4.8 and, except with respect to the FERC Owner Lessor EWG Orders and the FERC Orders referred to in clause (v) of the definition of "FERC Orders" in Appendix A hereto, received from FERC the orders referenced therein.

Facility Lessee means ▇▇▇▇▇ City, as lessee of the Undivided Interest under the Facility Lease.

Facility Lessee means Midwest, as lessee of the Undivided Interest under the Facility Lease.

Facility Lessee means Homer City.

Facility Lessee as defined in the Other Participation Agreement.

Facility Lessee means the Company as lessee under the Facility Lease. To the extent there is a transfer pursuant to Section 13.2 of the Participation Agreement in circumstances where the Facility Lessee is to remain liable under the Operative Documents, the term Facility Lessee shall continue to include the transferring entity for purposes of Section 16 of the Facility Lease.

Facility Lessee has duly filed with FERC the filings referenced in Section 4.8 and, except with respect to the determination by FERC of EWG status and the FERC Order referenced in clause (ii) of the definition of "FERC Orders" set forth in Appendix A hereto, received from FERC the orders referenced therein. Fully Taxable. As of the Closing Date, each Person owning an Ownership Interest (i) is fully taxable at the highest federal tax rate and (ii) expects to be fully taxable at the highest federal tax rate throughout the Facility Lease Term; for the avoidance of doubt, this representation is not intended to be construed as nor shall it be deemed to be a guaranty as to any such Person's future taxation.