Common use of Ownership of Guarantor Clause in Contracts

Ownership of Guarantor. Guarantor shall not permit ---------------------- Caithness Navy II Group, LLC or New CTC Company, LLC (each a "Partner") to sell, ------- transfer or convey any partnership interest held by such Partner in Guarantor unless (a) such sale, transfer or conveyance would not result in any change in the Project's status as a Qualifying Facility and (2) the Person to whom such partnership interests are sold, transferred or conveyed enters into a pledge agreement providing for the perfected, first priority pledge to the Collateral Agent for the benefit of the Trustee and the Holders of the Senior Secured Notes of all such partnership interests.

Ownership of Guarantor. Guarantor shall not permit ---------------------- Caithness Navy II GroupCoso Holdings, LLC or New CTC CHIP Company, LLC (each a "Partner") to ------- sell, ------- transfer or convey any partnership interest held by such Partner in Guarantor unless (a) such sale, transfer or conveyance would not result in any change in the Project's status as a Qualifying Facility and (2) the Person to whom such partnership interests are sold, transferred or conveyed enters into a pledge agreement providing for the perfected, first priority pledge to the Collateral Agent for the benefit of the Trustee and the Holders of the Senior Secured Notes of all such partnership interests.