Common use of Purchase of the Undivided Interest; Payment, Etc Clause in Contracts

Purchase of the Undivided Interest; Payment, Etc. If the Lessee (or any Affiliate thereof) shall have elected to purchase the Undivided Interest pursuant to Section 13(c), payment by the Lessee (or such Affiliate) of the purchase price therefor shall be made in immediately available funds, whereupon the Lessor shall Transfer the Undivided Interest to the Lessee, or such Affiliate, as the case may be, all subject, however, to the provisions of Article V of the Assignment and Assumption Agreement.

Appears in 2 contracts

Sources: Facility Lease (Entergy New Orleans, LLC), Facility Lease (Entergy New Orleans, LLC)

Purchase of the Undivided Interest; Payment, Etc. If the Lessee (or any Affiliate thereof) shall have elected to purchase the Undivided Interest pursuant to Section 13(c13(b) or Section (c), payment by the Lessee (or such Affiliate) of the purchase price therefor for the Undivided Interest and the Real Property Interest shall be made in immediately available funds, whereupon the Lessor shall Transfer the Undivided Interest and the Real Property Interest to the Lessee, or such Affiliate, as the case may be, all subject, however, to the provisions of Article V of the Assignment and Assumption Agreement.

Appears in 1 contract

Sources: Facility Lease (Public Service Co of New Mexico)