Common use of Enforcement of Certain Warranties Clause in Contracts

Enforcement of Certain Warranties. (i) Unless a Lease Event of Default shall have occurred and be continuing, the Lessor authorizes the Lessee (directly or through agents, including the Operator) at the Lessee's expense (but not so as to prejudice the rights of the Lessor as assignee of Lessee's rights), to assert for the Lessor's account, during the Lease Term, all of the Lessor's rights (if any) under any applicable warranty and any other claim (whether under this Facility Lease, any Financing Document or otherwise) that the Lessee or the Lessor may have against any vendor or manufacturer with respect to the Facility or any Modification, and the Lessor agrees to cooperate, at the Lessee's expense, with the Lessee and its agents in asserting such rights. Any amount recovered by the Lessee under any such warranty or other claim against any vendor or manufacturer shall be applied in accordance with Sections 9(g) and (h) hereof. (ii) The Lessee agrees to preserve and protect Lessor's rights under any warranty, covenant or representation made by Contractor, any other EPC Contractor or any other vendor, manufacturer or supplier with respect to the Facility or any Modification, and the Lessee will take no action which will impair such rights of the Lessor and covenants to act solely in strict compliance with any restrictions or requirements prerequisite to the continued existence, enforcement, validity and maintenance of any such warranty, covenant or representation.

Appears in 1 contract

Sources: Facility Lease (Panda Interfunding Corp)

Enforcement of Certain Warranties. (i) Unless a Lease an Event of Default shall have occurred and be continuingcontinuing and the Lessor shall have notified the Lessee that the Lessee is no longer permitted to continue enforcement of its rights under this Section 6(c), the Lessor authorizes the Lessee (directly or through agents), including the Operator) at the Lessee's expense (but not so as to prejudice the rights of the Lessor as assignee of Lessee's rights)expense, to assert for the Lessor's account, during the Lease Term, all of the Lessor's rights (if any) under any applicable warranty and any other claim (whether under this Facility Lease, Lease or any Financing Document or otherwiseBill β–‡β–‡ Sale) that the Lessee or the Lessor may have against the Seller or any vendor vendor, manufacturer, contractor or manufacturer subcontractor with respect to the Facility Premises, the Site or any Modification, and the Lessor agrees to cooperate, at the Lessee's expenseexpense (on an After-Tax Basis to the Owner Participant or the Lessor to the extent a Tax is imposed on Lessor rather than the Owner Participant, to the extent the Lessee would be liable to indemnify the Owner Participant with respect to any recovery from such claim under the terms of the Tax Indemnification Agreement), with the Lessee and its agents in asserting such rights. Any amount recovered by the Lessee under any such warranty or other claim against any vendor vendor, manufacturer, contractor or manufacturer subcontractor shall be applied in accordance with Sections 9(gSection 9(f) and or (h) hereofg), as applicable. (ii) The Lessee agrees to preserve and protect Lessor's rights under any warranty, covenant or representation made by Contractor, any other EPC Contractor or any other vendor, manufacturer or supplier with respect to the Facility or any Modification, and the Lessee will take no action which will impair such rights of the Lessor and covenants to act solely in strict compliance with any restrictions or requirements prerequisite to the continued existence, enforcement, validity and maintenance of any such warranty, covenant or representation.

Appears in 1 contract

Sources: Lease Agreement (New Jersey Resources Corp)