Common use of Acquisition Option Clause in Contracts

Acquisition Option. ‌ (a) After the Effective Date, Holdings and DOE shall discuss and determine whether, under Applicable Law, DOE may grant to Holdings (or its nominee, assignee or designee) an option to acquire from DOE the DOE Acquired Real Property and AR Facilities after the Termination Date (the “Acquisition Option”). To the extent DOE determines that such an Acquisition Option may be granted under Applicable Law, DOE and Holdings shall cooperate in good faith to enter into an agreement to set forth all of the terms, conditions and procedures under which such an Acquisition Option may be exercised by Holdings (or its nominee, assignee or designee). (b) Following the Termination Date, subject to the Acquisition Option (if applicable) and the terms and conditions of the DOE Direct Agreement and the Intercreditor Agreement, if any, DOE shall have the right to Dispose of any of its rights or interests in any DOE Acquired Real Property or any of the AR Facilities, including through a dismantling of any of the AR Facilities and a Disposition of any DOE Acquired Real Property to any Person without any consent by any Clean Line Party or any other Person.

Appears in 2 contracts

Sources: Participation Agreement, Participation Agreement