Common use of Election to Surrender Clause in Contracts

Election to Surrender. The Ground Lessee may, so long as the Lien of the Lease Indenture has been discharged in accordance with the terms thereof, elect to surrender the Ground Interest and transfer this Facility Site Lease to the Ground Lessor at any time following the expiration or termination of the Site Sublease Term upon payment of $1.00 to the Ground Lessor, subject to the rights set forth in Section 2.7, without representation or warranty other than a warranty as to the absence of Owner Lessor Liens accompanied by a warranty of the Owner Participant as to the absence of Owner Participant Liens. Upon such surrender, all obligations and liabilities of the Ground Lessee hereunder arising after such surrender, including its obligation to make rental payments hereunder, but subject to the rights set forth in Section 2.7 hereof, shall automatically be assumed by the Ground Lessor and the Ground Lessee shall be automatically released therefrom.