Operation Term definition
Examples of Operation Term in a sentence
Immediately following the Closing, the Company and its Subsidiaries will possess all assets, properties and rights currently used in the conduct or operation of the Network Business and to fulfill all of Buyer’s obligations under the Syndication Advertising Operation Term Sheet, taking into account the rights afforded Buyer pursuant to the license agreements contemplated hereunder, the Licensed Assets Agreement and the Transition Services Agreement.
Landlord will be responsible for providing water to Tenant in the quantity required for the Project purposes during the Construction and Operation Term as set forth above in Section 6.4. Water may be provided to Tenant via one of Landlord’s existing or future ▇▇▇▇▇, or, if necessary from a well located on Leased Premises.
Lessee shall also have up to three (3) extension rights, upon written notice to Owner at least one hundred eighty (180) days prior to the expiration of the Construction and Operation Term and/or the first Extended Term (as hereinafter defined), as applicable, to extend the Construction and Operation Term for three (3) additional periods of five (5) years on each such occasion (each, an “Extended Term”).
Without limitation of any and all other rights under this Lease, during the Construction and Operation Term and any Extended Term with respect to any Property, Lessee will have the specific right to occupy, use, renovate, rebuild, demolish, and/or remove any existing structures on such Property for any and all purposes related to its use of the Property, including as an office and/or living quarters in connection with construction, operation, and management of the Solar Facilities.
For avoidance of doubts, Operation Term starts after Operation starting period.
Within 30 days of Effective Date, prorated through 12/31/17 $12.00/acre If the Development Term ends with respect to all or any portion of the Property on any day other than the end of a quarterly Development Rent period, Development Rent paid for the portion of such quarter after the expiration of the Development Term for such Property shall be credited to payments due during the Construction and Operation Term for such Property.
The Development Term, together with the Construction and Operation Term and any Extended Term shall be referred to herein collectively, as the “Term”.
The date the Construction and Operation Term commences is referred to herein as the “Construction and Operation Term Commencement Date”.
Usage restrictions: During the Operation Term, Tianchuang Green Energy shall not in any manner transfer, lease or create security in respect of the leased site without the permission of Jinzhong Urban Renewal.
During the Construction and Operation Term and any Extended Term with respect to any Property, Owner shall have the right to reasonably access such Property at reasonable intervals and at reasonable times and upon at least forty-eight hours’ prior advance written notice to Lessee to inspect such Property.