Common use of Assignment to Affiliate Clause in Contracts

Assignment to Affiliate. Without requiring any further consent from the Landowner and notwithstanding any provision of this Agreement to the contrary, the Lessee shall have the right to assign all or a portion of its right, title and interest in this Agreement (directly or indirectly and including any transaction or series of transactions that result in a change of control of the Lessee) to any party or entity that is an affiliate of the Lessee. The Landowner acknowledges and agrees that the Lessee shall have the right to assign its right, title and interest in this Agreement to ▇▇▇▇▇ Geothermal Company LLC, a Delaware limited liability company, which is anticipated to be owned by Nevada Geothermal Power Inc. and Ormat Nevada Inc. or its affiliate. The Landowner further agrees that any party or entity which the Lessee controls, or which is controlled by or is under common control with ▇▇▇▇▇ Geothermal Company LLC or its constituent owners, Nevada Geothermal Power Inc. and Ormat Nevada Inc., at the time of such assignment shall be deemed to be an affiliate of the Lessee for purposes of this Section 26.

Appears in 3 contracts

Sources: Geothermal Lease Agreement (Nevada Geothermal Power Inc), Geothermal Lease Agreement (Nevada Geothermal Power Inc), Geothermal Lease Agreement (Nevada Geothermal Power Inc)