Substation Lease definition
Examples of Substation Lease in a sentence
The Developer and ESCo agree and the Developer shall procure that prior to entering into a Connection and Supply Agreement (Plot/ Building): the Plot Developer or Commercial Customer (as relevant) shall serve on ESCo a notice (in relation to the tenancy to be granted by the Plot Heat Substation Lease or Commercial Building Heat Substation Lease (as relevant), (the "LTA Notice") in accordance with the requirements of s38(A)(3)(a) of the Landlord and Tenant Act 1954.
The following items shall be prorated and adjusted between the parties or paid at Closing: (i) ad valorem taxes on real property shall be prorated on a calendar year basis to the Operations Date; (ii) ad valorem taxes on personal property, if any, shall be prorated on a calendar year basis to the Operations Date; and (iii) rents and other charges due under a Transmission Substation Lease, Transmission Line Lease or other leased property that is a Contributed Asset shall be prorated to the Operations Date.
For the avoidance of doubt, if the FAA or FDOT is required by applicable Law or by the provisions of any applicable contract with or grant from the FAA or FDOT to approve an Airport Substation Lease Agreement, Seller shall not be obligated to execute such Airport Substation Lease Agreement unless the form thereof has been approved by the FAA or FDOT, as applicable.
As fully demonstrated in the Substation Lease Agreement (executed contemporanous herewith and the terms of which are incorporated herein), Tenant shall be permitted to draw up to the full-rated capacity of the Substation.
The housing credit issued to the SUMC Parties in connection with the ▇▇▇▇ substation relocation and Quarry Substation Lease may be used to offset the obligations in this Agreement.