T&D Assets means the transmission, distribution, communication, substation and other assets necessary for the current or future transmission or distribution of electricity or natural gas by Seller or its Affiliates, but does not, for the avoidance of doubt, include any Material Contract or Assigned Contract.
Examples of T&D Assets in a sentence
For avoidance of doubt, if a REIT Entity acquires a ROFO Project or other T&D Assets, then any such acquisition will expand the definition of Footprint Project hereunder such that, after the related T&D Project is acquired by a REIT Entity, Transmission Additions to any such T&D Assets will constitute Footprint Projects.
Footprint Projects means T&D Projects that (a) are located in the distribution service territory of an electric distribution utility that is leasing T&D Assets from a REIT Entity that are being used in that distribution service territory, (b) constitute a Transmission Addition to the transmission assets owned by a REIT Entity or (c) are Reclassified Projects.
Drag-Along Right is the right, subject to the Drag-Along Conditions, to either (a) cause all or substantially all of the T&D Assets that comprise the ROFO Project to be Transferred to a REIT Entity or (b) cause 100% of the Drag-able Equity Interests to be Transferred to a REIT Entity.
Hunt shall use its commercial best efforts to structure ROFO Projects so that they can be acquired by a REIT Entity prior to becoming Operating T&D Assets without jeopardizing the REITs status as a real estate investment trust under applicable IRS rules.
Within 30 days of the date on which such Operating T&D Assets qualify to be held by a REIT Entity, Hunt shall deliver a ROFO Offer to the REIT.