Common use of Certain Conditions to Termination Clause in Contracts

Certain Conditions to Termination. Anything to the contrary in this Section 14 notwithstanding, the Lessee and the Lessor agree (without relieving the Lessor of any liability hereunder) that, so long as the Lien of the Indenture shall not have been terminated or discharged, no termination of this Facility Lease pursuant to this Section 14 shall be effective and the Lessee’s rights and obligations under this Facility Lease immediately prior to the election to terminate this Facility Lease pursuant to Section 14.1 shall remain in full force and effect in all respects (regardless of whether the Lessor shall elect to retain or sell the Lessor’s Interest in connection with such proposed termination) unless and until the Lessor shall have paid all outstanding principal and accrued interest on the Notes pursuant to Section 14.3 and all other amounts due by Lessor under the Indenture on such proposed date of termination.

Appears in 1 contract

Sources: Facility Lease Agreement (Firstenergy Corp)

Certain Conditions to Termination. Anything to the contrary in this Section 14 13 notwithstanding, the Lessee and the Lessor agree (without relieving the Lessor of any liability hereunder) that, so long as the Lien of the Indenture shall not have been terminated or discharged, no termination of this Facility Lease pursuant to this Section 14 13 shall be effective and the Lessee’s rights and obligations under this Facility Lease immediately prior to the election to terminate this Facility Lease pursuant to Section 14.1 13.1 shall remain in full force and effect in all respects (regardless of whether the Lessor shall elect to retain or sell the Lessor’s Interest in connection with such proposed termination) unless and until the Lessor shall have paid all outstanding principal and accrued interest on the Notes pursuant to Section 14.3 13.3 and all other amounts due by Lessor under the Indenture on such proposed date of termination.

Appears in 1 contract

Sources: Facility Lease Agreement (Firstenergy Corp)