Common use of RIGHT TO SUBLEASE Clause in Contracts

RIGHT TO SUBLEASE. The Facility Lessee may sublease the Facility without the consent of the Owner Lessor, the Lessor Manager, the Equity Investor, the Equity Manager, Equity Note Purchasers and the Lease Indenture Trustee under the following conditions: (a) the sublessee is a solvent corporation, partnership, business trust, limited liability company or other person or entity not then involved in a bankruptcy proceeding and that is, or has engaged a third party that is, experienced in the operation of similar facilities; (b) the sublease is expressly subject and subordinated to the Head Lease, this Facility Lease, the Ground Lease and the Ground Sublease; (c) all terms and conditions of this Facility Lease and the other Transaction Documents remain in effect and the Facility Lessee remains fully and primarily liable for its obligations under this Facility Lease and the other Transaction Documents; (d) no Significant Lease Default or Lease Event of Default shall have occurred and be continuing at the time of the entering into of such sublease; (e) the sublease prohibits further assignment or subletting; and (f) the Lien of the Lease Indenture is not impaired by the sublease. The Facility Lessee shall pay all reasonable, documented out-of-pocket expenses of the Owner Lessor, the Equity Investor, the Equity Manager, the Lessor Manager and the Lease Indenture Trustee in connection with such sublease.

Appears in 2 contracts

Sources: Facility Lease Purchase Agreement (Tennessee Valley Authority), Facility Lease Purchase Agreement (Tennessee Valley Authority)

RIGHT TO SUBLEASE. The Facility Lessee may sublease the Facility Undivided Interest without the consent of the Owner Lessor, the Lessor Manager, the Equity Investor, the Equity Manager, Equity Southaven Holdco Note Purchasers and the Lease Indenture Trustee under the following conditions: (a) the sublessee is a solvent corporation, partnership, business trust, limited liability company or other person or entity not then involved in a bankruptcy proceeding and that is, or has engaged a third party that is, experienced in the operation of similar facilities; (b) the sublease is expressly subject and subordinated to the Head Lease, this Facility Lease, the Ground Lease and the Ground Sublease; (c) all terms and conditions of this Facility Lease and the other Transaction Documents remain in effect and the Facility Lessee remains fully and primarily liable for its obligations under this Facility Lease and the other Transaction Documents; (d) no Significant Lease Default or Lease Event of Default shall have occurred and be continuing at the time of the entering into of such sublease; (e) the sublease prohibits further assignment or subletting; and (f) the Lien of the Lease Indenture is not impaired by the sublease. The Facility Lessee shall pay all reasonable, documented out-of-pocket expenses of the Owner Lessor, the Equity Investor, the Equity Manager, the Lessor Manager and the Lease Indenture Trustee in connection with such sublease.

Appears in 1 contract

Sources: Facility Lease Purchase Agreement (Tennessee Valley Authority)

RIGHT TO SUBLEASE. The Facility Lessee may sublease the Facility without the consent of the Owner Lessor, the Lessor Manager, the Equity Investor, the Equity Manager, Equity Note Purchasers and the Lease Indenture Trustee under the following conditions: : (a) the sublessee is a solvent corporation, partnership, business trust, limited liability company or other person or entity not then involved in a bankruptcy proceeding and that is, or has engaged a third party that is, experienced in the operation of similar facilities; ; (b) the sublease is expressly subject and subordinated to the Head Lease, this Facility Lease, the Ground Lease and the Ground Sublease; ; (c) all terms and conditions of this Facility Lease and the other Transaction Documents remain in effect and the Facility Lessee remains fully and primarily liable for its obligations under this Facility Lease and the other Transaction Documents; ; 27 (d) no Significant Lease Default or Lease Event of Default shall have occurred and be continuing at the time of the entering into of such sublease; ; (e) the sublease prohibits further assignment or subletting; and and (f) the Lien of the Lease Indenture is not impaired by the sublease. The Facility Lessee shall pay all reasonable, documented out-of-pocket expenses of the Owner Lessor, the Equity Investor, the Equity Manager, the Lessor Manager and the Lease Indenture Trustee in connection with such sublease.

Appears in 1 contract

Sources: Facility Lease Purchase Agreement