Completion of Facility. If construction of the Facility is not commenced, or is permanently abandoned or terminated, either Party may notify the other of its election to terminate the Facility Lease. In such event, this Facility Lease shall terminate 30 days following such notice, and each Party shall cease to have any liability to the other party hereunder, except (i) for any obligations surviving pursuant to the express terms of the Facility Lease and (ii) that Lessee shall pay to Lessor Pre-Termination Expenses.
Appears in 2 contracts
Sources: Facility Lease Agreement (Mge Energy Inc), Facility Lease Agreement (Madison Gas & Electric Co)