Common use of Postponement of the Closing Clause in Contracts

Postponement of the Closing. The Closing may be postponed from time to time for any reason if PPL Montana gives the Owner Participant, the Owner Lessor, the Lessor Manager, the Lease Indenture Trustee and the Pass Through Trustee a facsimile or telephonic (confirmed in writing) notice of such postponement and notice of the date to which the Closing has been postponed, such notice of postponement to be received by each such party no later than 10:00 a.m., New York City time, on the date the Closing was scheduled to occur. If, prior to receipt of a postponement notice under this Section 2.3(a), the Owner Participant shall have provided funds in accordance with Section 2.2(b), such funds shall be returned to the Owner Participant, as soon as reasonably practicable but in no event later than the Business Day following the date of such notice, unless the Owner Participant shall have otherwise directed. All funds made available pursuant to Section 2.2(b) will be held by the Trust Company in trust for the Owner Participant and shall not be part of the Indenture Estate or the Lessor Estate, shall be invested by the Trust Company in accordance with clause (b) below and such funds shall remain the sole property of the Owner Participant unless and until (i) released by the Owner Participant and made available to the Owner Lessor and applied by the Owner Lessor to pay the Purchase Price or the Transaction Costs related to the Closing, or (ii) returned to the Owner Participant, as provided in this Section 2.3(a).

Postponement of the Closing. The Scheduled Closing Date may be postponed from time to time for any reason if PPL Montana EME gives the Equity Investor, the Owner Participant, the Owner Lessor, the Lessor ManagerOwner Trustee, the Lease Indenture Trustee and the Pass Through Trustee Trustees a telex, telegraphic, facsimile or telephonic (confirmed in writing) notice of such postponement and notice of the date to which the Closing has been postponed, such notice of postponement to be received by each such party no later than 10:00 a.m., New York City time, on the date Business Day immediately preceding the Scheduled Closing was scheduled to occurDate. If, prior to receipt of a postponement notice under this Section 2.3(aSECTION 2.2(c), the Owner Participant shall have provided funds in accordance with Section SECTION 2.2(b), such funds shall be returned to the Owner Participant, Participant as soon as reasonably practicable practicable, but in no event later than the Business Day following the date of such noticeScheduled Closing Date, unless the Owner Participant shall have otherwise directed. All funds made available pursuant to Section SECTION 2.2(b) will be held by the Trust Company in trust for the Owner Participant and shall not be part of the Indenture Estate or the Lessor Trust Estate, shall be invested by the Trust Company in accordance with clause (bd) below and such funds shall remain the sole property of the Owner Participant unless and until (i) released by the Owner Participant and made available to the Owner Lessor Trustee and applied by the Owner Lessor to pay the Purchase Price or the Transaction Costs related to the Closing, or (ii) returned to the Owner Participant, as provided in this Section 2.3(a)Agreement.

Postponement of the Closing. The Closing may be postponed from --------------------------- time to time to a date no later than September 30, 2001, for any reason if PPL Montana the Company gives the Owner Participant, the Owner Lessor, the Lessor Manager, the Lease Indenture Trustee and the Pass Through Trustee Trustees a facsimile or telephonic (confirmed in writing) notice of such postponement and notice of the date to which the Closing has been postponed, and such notice of postponement shall for purposes of Section 2.3(b) be deemed to be received by each such party no later than the Owner Participant prior to making the Owner Participant's Commitment available if it is received by the Owner Participant on or before 10:00 a.m., New York City time, on the date the Closing was scheduled to occur. If, prior to receipt of a postponement notice under this Section 2.3(a), If the Owner Participant shall have provided funds in accordance with Section 2.2(b)) and the Closing is postponed, such funds shall be returned to the Owner Participant, as soon as reasonably practicable but in no event later than the Business Day following the date of such notice, unless the Owner Participant shall have otherwise directed. All funds made available pursuant to Section 2.2(b) will be held by the Trust Company in trust for the Owner Participant and shall not be part of the Indenture Estate or the Lessor Estate, shall be invested by the Trust Company in accordance with clause (b) below and such funds shall remain the sole property of the Owner Participant unless and until (i) released by the Owner Participant and made available to the Owner Lessor and applied by the Owner Lessor to pay the Purchase Price or the Transaction Costs related to the Closing, or (ii) returned to the Owner Participant, as provided in this Section 2.3(a).

Postponement of the Closing. The Scheduled Closing Date may be postponed from time to time (but in no event later than the Cut-off Date) for any reason if PPL Montana SEMA gives the Equity Investor, the OP Guarantor, the Owner Participant, the Owner Lessor, the Lessor Owner Manager, the Lease Indenture Trustee and the Pass Through Trustee a telex, telegraphic, facsimile or telephonic (confirmed in writing) notice of such postponement and notice of the date to which the Closing has been postponed, such notice of postponement to be received by each such party no later than 10:00 a.m., New York City time, on the date Business Day immediately preceding the Scheduled Closing was scheduled to occurDate. If, prior to receipt of a postponement notice under this Section 2.3(a2.2(c), the Owner Participant shall have -------------- provided funds in accordance with Section 2.2(b), such funds shall be returned -------------- to the Owner Participant, Participant as soon as reasonably practicable practicable, but in no event later than the Business Day following the date of such noticeScheduled Closing Date, unless the Owner Participant shall have otherwise directed. All funds made available pursuant to Section 2.2(b) will be held by the Trust Company in trust for the -------------- Owner Participant and shall not be part of the Indenture Estate or the Lessor Estate, shall be invested by the Trust Company in accordance with clause (bd) below and such funds shall remain the sole property of the Owner Participant unless and until (i) released by the Owner Participant and made available to the Owner Lessor Manager and applied by the Owner Lessor to pay the Purchase Price or the Transaction Costs related to the Closing, Expenses or (ii) returned to the Owner Participant, as provided in this Section 2.3(a)Agreement.

Postponement of the Closing. The Scheduled Closing Date may be postponed from time to time for any reason if PPL Montana Old Dominion gives the Owner Participant, the Owner LessorFacility Owner, the Lessor ManagerOwner Trustee, the Lease Indenture Trustee Original Lenders and the Pass Through Trustee a Agent telex, telegraphic, facsimile or telephonic (confirmed in writing) notice of such postponement and notice of the date to which the Closing has been postponed, such notice of postponement to be received by each such party no later than 10:00 a.m., New York City time, on the date the original Scheduled Closing was scheduled to occurDate. If, prior to receipt of a postponement notice under this Section 2.3(a2.2(c), the Owner any Participant shall have provided funds in accordance with Section 2.2(b), such funds shall be returned to the Owner such Participant, as soon as reasonably practicable but in no event later than the Business Day following the date of such noticeScheduled Closing Date, unless the Owner such Participant shall have otherwise directed. All funds made available pursuant to Section 2.2(b) will be held by the Trust Company Facility Owner in trust for the Owner Participant who provided such funds and shall not be part of the Indenture Estate Collateral or the Lessor Trust Estate, shall be invested by the Trust Company Facility Owner in accordance with clause (bd) below and such funds shall remain the sole property of the Owner such Participant unless and until (i) released by the Owner Participant and made available to the Owner Lessor and applied by the Owner Lessor to pay the Purchase Price Head Equipment Agreement Consideration, Head Foundation Agreement Consideration or the Transaction Costs related to the Closing, or (ii) returned to the Owner applicable Participant, as provided in this Section 2.3(a)Agreement.

Postponement of the Closing. The Scheduled Closing Date may be postponed from time to time (but in no event later than the Cut-off Date) for any reason if PPL Montana SEMA gives the Equity Investor, the OP Guarantor, the Owner Participant, the Owner Lessor, the Lessor Owner Manager, the Lease Indenture Trustee and the Pass Through Trustee a telex, telegraphic, facsimile or telephonic (confirmed in writing) notice of such postponement and notice of the date to which the Closing has been postponed, such notice of postponement to be received by each such party no later than 10:00 a.m., New York City time, on the date Business Day immediately preceding the Scheduled Closing was scheduled to occurDate. If, prior to receipt of a postponement notice under this Section 2.3(a2.2(c), the Owner Participant shall have -------------- provided funds in accordance with Section 2.2(b), such funds shall be returned -------------- to the Owner Participant, Participant as soon as reasonably practicable practicable, but in no event later than the Business Day following the date of such noticeScheduled Closing Date, unless the Owner Participant shall have otherwise directed. All funds made available pursuant to Section 2.2(b) will be held by the Trust Company in trust for the -------------- Owner Participant and shall not be part of the Indenture Estate or the Lessor Estate, shall be invested by the Trust Company in accordance with clause (bd) below and such funds shall remain the sole property of the Owner Participant unless XXXXXXXXX PARTICIPATION AGREEMENT (L1) -------------------------------------- and until (i) released by the Owner Participant and made available to the Owner Lessor Manager and applied by the Owner Lessor to pay the Purchase Price or the Transaction Costs related to the Closing, Expenses or (ii) returned to the Owner Participant, as provided in this Section 2.3(a)Agreement.