System Lease definition

System Lease means a financing lease, including a sale-leaseback, between a Lender and Licensee whereby Licensee leases the System from the Lender strictly as a financing arrangement. As set forth in Section 4, the System Lease shall not encumber or constitute a lien in the Facility, the Site, or the Licensed Area.

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System Lease means a lease of an Investment to a third party (which may be an Affiliate of ▇▇▇▇) to operate such Investment.

System Lease. MEANS A FINANCING LEASE, INCLUDING A SALE-LEASEBACK, BETWEEN A LENDER AND LICENSEE WHEREBY LICENSEE LEASES THE SYSTEM FROM THE LENDER STRICTLY AS A FINANCING ARRANGEMENT. AS SET FORTH IN SECTION 4, THE SYSTEM LEASE SHALL NOT ENCUMBER OR CONSTITUTE A LIEN IN THE FACILITY, THE SITE, OR THE LICENSED AREA. 9

Examples of System Lease in a sentence

• Licensee may assign its interest in the System, including Licensee’s rights under this SLA, as security for loans or financing of the System including a System Lease with a System Lessor, subject to the requirements of section 4.1 of this SLA.

• Notwithstanding anything to the contrary contained herein, the Subordinated Indebtedness shall no longer be subordinated in right of liquidation pursuant to the terms contained herein otherwise at such time as the Secured Parties no longer have a lien on or security interest in the System Lease Obligations.

• Licensee may assign its interest in the System, including Licensee's rights under this SLA, as security for loans or financing of the System including a System Lease with a System Lessor, subject to the requirements of Section 4.1 of this SLA.

• Trustees’ consent to the initial assignment, including a sale and System Lease, is for the purpose of financing the System.

• Promptly, and in any event within five Business Days after the Borrower receives a written notice of default under a System Lease from the applicable Qualified Lessee, a copy of such notice of default or a written notice specifying the nature and period of existence of such default and what action the Borrower is taking or proposes to take with respect thereto.

• The Collateral, as described in the Security Documents, constitutes all of the Company’s rights in the System Lease and the System.

• The Collateral, as described in the Security Documents, constitutes all of the Company’s rights in the System Lease and the System and all of its membership interests in New Owner and all of TDC’s membership interests in the Company.

• A “Lessor Event of Default” has occurred under the Pipeline System Lease.

• Contractor may assign its personal property interest in the System, including Contractor’s rights under this SPPA, as security for loans or financing of the System including a System Lease with a System Lessor, subject to the requirements of Section 4.1 of the SLA.

• LICENSEE may assign its interest in the System, including LICENSEE's rights under this SLA, as security for loans or financing of the System including a System Lease with a System Lessor, subject to the requirements of Section 4.1 of this SLA.

More Definitions of System Lease

System Lease means (i) the Second Amended and Restated Master System Lease Agreement, dated as of July 1, 2012, between the Company, as lessor, and Sharyland, as lessee as supplemented by any lease supplement in accordance with Section 9.8(b) of this Agreement and as further supplemented by any other lease supplement entered into by the Company and Sharyland permitted under Section 10.16, (ii) the Amended and Restated Lease Agreement (▇▇▇▇▇▇▇/▇▇▇▇▇/▇▇▇▇▇▇▇ Assets), dated as of July 1, 2012, between the Company, as lessor, and Sharyland, as lessee as supplemented by any other lease supplement in accordance with Section 9.8(b) of this Agreement and as further supplemented by any other lease supplement entered into by the Company and Sharyland permitted under Section 10.16 and (iii) any and all other leases in connection with the System and the transmission and distribution facilities ancillary thereto.

System Lease means the Master System Lease Agreement, dated as of December 31, 2009, between the Company, as lessor, and Sharyland, as lessee, as supplemented by the Lease Supplement or any lease supplement entered into in replacement of such Lease Supplement and as further supplemented by additional lease supplements entered into by the Company and Sharyland, each in accordance with Section 9.8(b).

System Lease means the Master System Lease Agreement, dated as of December 31, 2009, between SDTS, as lessor, and Sharyland, as lessee, as supplemented by Lease Supplement (Cap Rock Assets), dated as of July 13, 2010, or any lease supplement entered into in replacement of such Lease Supplement and as further supplemented by additional lease supplements entered into by SDTS and Sharyland in accordance with Section 9.8(b) of the SDTS 2010 Note Agreement.

System Lease means (1) the McAllen Lease, (2) the ▇▇▇▇▇▇▇/▇▇▇▇▇/▇▇▇▇▇▇▇ Lease, (3) upon the effectiveness thereof, the Lease Agreement (ERCOT Transmission Assets), between the Pledgor, as lessor, and SU, as lessee, (4) upon the completion of the FERC Merger, the FERC Lease and (5) any and all other leases and supplements thereto in connection with transmission and distribution and related assets pursuant to which SU is the lessee and either (A) the Pledgor or a Subsidiary of the Pledgor is the lessor or (B) a Subsidiary of SU or another Person Controlled by one or more ▇▇▇▇ Family Members is the lessor.

System Lease means the Master System Lease Agreement, dated as of December 31, 2009, between the Pledgor, as lessor, and SU, as amended, modified, supplemented, renewed and replaced from time to time.

System Lease shall have the meaning specified in the Note Purchase Agreement.