Facility Purchase Option definition

Facility Purchase Option means the right of the Owner Lessor, pursuant to Section 10.02 of the FILOT Lease, to acquire an undivided fee interest (to the extent of the Owner Lessor's Percentage) in all of or a portion of the Project, other than the portion thereof constituting the Land.

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Facility Purchase Option means an option provided by a Lessor ------------------------ Lender or Owned Facility Lender in an Intercreditor Agreement giving the Administrative Agent or the Banks the right to purchase the Lessor Indebtedness or Owned Facility Indebtedness from such Lessor Lender or Owned Facility Lender upon certain events of default relating to such Indebtedness. FAS 121 shall mean Financial Accounting Standard No. 121 promulgated ------- by the Financial Accounting Standards Board, as in effect from time to time.

Facility Purchase Option means any purchase option with respect to a Facility or its owner in favor of a Power Purchaser pursuant to a Power Purchase Agreement or Community Solar Arrangement that is in effect as of the Closing Date or as of the applicable Initial Facility Funding Date (without giving effect to any amendment thereof), or in any replacement contract entered into in accordance with the Credit Documents.

Examples of Facility Purchase Option in a sentence

• Within ten (10) days of Roquette’s receipt of written notice from the Board of its exercise of the Facility Purchase Option, Roquette shall deliver in writing its good faith calculation of the Facility Purchase Price pursuant to Exhibit G to the Board.

• In this regard, the transfer of title to the Existing Truck Unloading Facility may be effected by (i) the exercise of the Unloading Facility Purchase Option (as defined in the Coal Supply Agreement) prior to December 31, 2011, and payment of the purchase price to be paid by LANDLORD for the Existing Truck Unloading Facility as set forth in the Coal Supply Agreement or (ii) pursuant to Buyer’s request after December 31, 2011.

• The purchase price of the Phase 2 Facility pursuant to the Facility Purchase Option (the “Facility Purchase Price”) shall be as calculated pursuant to Exhibit G.

• If Buyer has exercised the Unloading Facility Purchase Option or has paid the Fixed Monthly Fee until ******, upon the termination of this Agreement, Seller shall submit to Buyer all maintenance and operating cost records, all current drawings, permits, operating manuals, and all other relevant information and records in Seller’s possession reasonably deemed necessary by Buyer for Buyer to take over the responsibility for overseeing the operation of the Existing Truck Unloading Facility.

• If Buyer exercises the Unloading Facility Purchase Option, the parties acknowledge and agree that Seller and/or Seller’s subcontractor(s) shall continue to operate and maintain the Existing Truck Unloading Facility and provide the Ancillary Services as provided in the Ancillary Services Agreement, unless otherwise mutually agreed to under a separate written agreement between Buyer and Seller and/or Seller’s subcontractor(s).

• Seller hereby grants to Borough the option to purchase the Facility ("Purchase Option") on the tenth (10th) and fifteen (15th) anniversaries of the Commercial Operation Date and at the end of the Term.

• In the event Buyer exercises the Unloading Facility Purchase Option prior to ******, Buyer shall not be obligated to pay Seller the Fixed Monthly Fee from and after the date of the closing of Buyer’s purchase of the Existing Truck Unloading Facility.

• BTLI agrees to grant PRG the option (the "Facility Purchase Option") to offer to purchase the land and improvements, and all fixtures thereon located at the Facility at a purchase price and on the terms and conditions contained in the Option Agreement substantially in the form of Exhibit E hereof.

• SCPPA and the Purchaser, as well as the other SCPPA Participants, acknowledge that the exercise by SCPPA of the Facility Purchase Option will require an agreement that is separately authorized and entered into by SCPPA, PWRPA and Lodi as Buyers that provides for the purchase and operation of the Facility by one or more of the Buyers and complies with applicable terms and conditions of the Buyers Joint Project Agreement.

More Definitions of Facility Purchase Option

Facility Purchase Option means the right of one or more of the Buyers to purchase the Facility and certain related assets from the Power Purchase Provider under the Option Agreement or pursuant to the Right of First Offer under Section 14.25 of the Power Purchase Agreement.

Facility Purchase Option means an option provided by a ------------------------ Lessor Lender or Owned Facility Lender in an Intercreditor Agreement giving the Administrative Agent or the Banks the right to purchase the Lessor Indebtedness or Owned Facility Indebtedness from such Lessor Lender or Owned Facility Lender upon certain events of default relating to such Indebtedness. FAS 121 shall mean Financial Accounting Standard No. 121 ------- promulgated by the Financial Accounting Standards Board, as in effect from time to time. Federal Funds Effective Rate for any day shall mean the rate per ---------------------------- annum (based on a year of 360 days and actual days elapsed and rounded upward to the nearest 1/100 of 1%) announced by the Federal Reserve Bank of New York (or any successor) on such day as being the weighted average of the rates on overnight Federal funds transactions arranged by Federal funds brokers on the previous trading day, as computed and announced by such Federal Reserve Bank (or any successor) in substantially the same manner as such Federal Reserve Bank computes and announces the weighted average it refers to as the "Federal Funds Effective Rate" as of the date of this Agreement; provided, if such Federal Reserve Bank (or its successor) does not announce such rate on any day, the "Federal Funds Effective Rate" for such day shall be the Federal Funds Effective Rate for the last day of which such rate was announced. First Mortgages shall mean the First Mortgages in substantially --------------- the form of Exhibit 1.01(F) with respect to all owned real property of the Loan --------------- Parties (other than owned real property subject to a Mortgage as of the Eighteenth Amendment Effective Date), executed and delivered by the applicable Loan Party to the Collateral Agent for the benefit of the Banks.