Facility Sublessee definition
Examples of Facility Sublessee in a sentence
As a condition precedent to the issuance by the City of Portsmouth of a Building Permit and the commencement of construction of the Facility Sublessee shall enter into a written agreement with the City of Portsmouth, with such security as the City of Portsmouth may reasonably requite to insure that said payment obligation is met.
In the event of a temporary taking of less than all or substantially all of any Facility, Sublessee shall be entitled to receive and retain any and all awards for the temporary taking and the Rent due under this Sublease shall be not be abated during the period of such temporary taking.
Each Option Facility is (a) being sublet by the applicable Option Facility Sublessor to the applicable Option Facility Sublessee pursuant to the applicable Option Facility Sublease and (b) subject to a purchase option (each such option, a “Purchase Option”) in favor of the applicable Option Facility Sublessor pursuant to the terms provided in each Option Facility Lease or separate Option Agreement.
The Facility Sublessee will perform all of its obligations under the Rocky Mountain Agreements the failure to perform which would have a material adverse effect on the Facility Lessor's Rocky Mountain Interest or the Facility Sublessor's Rocky Mountain Interest or the current or residual value, utility or remaining useful life of the Facility.
The cost and expense of preparing and providing such report shall all be for the account of the Facility Sublessee.
If the Facility Sublessee shall elect or is deemed to have elected the Sublease Return Option, the Facility Sublessor shall elect the Return Option pursuant to Section 15.1 of the Facility Lease.
At such time, the Facility Sublessee shall become obligated for the payment of any indemnification hereunder not theretofore paid resulting from the outcome of such contest, and the Owner Participant shall become obligated to repay to the Facility Sublessee the amount of any interest-free advance made pursuant to this Section 7(a)(vi) together with any interest received by or credited to the Owner Participant that is attributable to such advance.
Notwithstanding any provision contained in this Facility Sublease or in any of the Operative Documents, the Facility Sublessee has the right to perform any and all acts required by an order of the FERC or its successor affecting the Facility or the Rocky Mountain Site without the prior approval of the Facility Sublessor.
On or before March 1 of each year (commencing March 1, 1998) and on the expiration of the Facility Sublease Term, the Facility Sublessee shall furnish to the Facility Sublessor a report stating the total cost of all Modifications and describing separately and in reasonable detail each Modification having a value in excess of $5,000,000 made during the period from the Closing Date to December 31, 1997 for the first report and annually thereafter based on a calendar year period for subsequent reports.
On or prior to December 1 of each year commencing on December 1, 1997, the Facility Sublessee shall furnish the Facility Sublessor, the Owner Participant and the Lender with a report signed by a Responsible Officer of the Facility Sublessee identifying all insurance coverages in place and certifying that all premiums in respect of such policies are paid in full.