Prior Operator definition
Examples of Prior Operator in a sentence
On or before the Commencement Date, Lessee must purchase from the Prior Operator property of the Prior Operator used or held for use in connections with operations.
If Lessee’s representatives are on board during such redelivery acceptance flight by the Prior Operator, such acceptance flight shall be the acceptance flight for all purposes under this Lease.
Delivery of the Aircraft is subject to and expressly conditioned upon return of the Aircraft by Prior Operator pursuant to the Prior Lease.
Lessee shall reimburse Lessor at the cost actually paid by Lessor, if any, to the Prior Operator for such flight.
Prior Operator, First Solar, Operator and Counterparty are sometimes referred to herein individually as a “Party” and collectively as the “Parties”.
The execution, delivery and performance by Prior Operator of this Agreement does not and will not conflict with or result in a breach of the terms or provisions of any indenture, agreement or instrument to which it is a party, or by which it is bound, or to which it is subject, or constitute a default thereunder.
The execution, delivery and performance by Prior Operator of this Agreement does not and will not contravene or conflict with any law, order, rule, regulation, writ, injunction or decree now in effect of any government, governmental instrumentality or court or tribunal having jurisdiction over it, or any contractual restriction binding on or affecting it.
Prior Operator is a corporation, validly organized and existing and in good standing under the laws of the State of Delaware and has full corporate power and authority to enter into and perform its obligations under this Agreement.
Prior Operator has duly authorized, executed and delivered this Agreement, and this Agreement is fully enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency and other laws affecting creditors’ rights and remedies generally and subject, as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether a proceeding is sought in equity or at law).
In the event the change of operator described above shall occur, Prior Operator and New Operator each agree to take all action which may be necessary or appropriate in order to cause the cost report of the Prior Operator for the period ending on the date when the Prior Operator will no longer be the operator of the Facility (the "Effective Date") to be filed on or before the Cost Report Deadline.