Common use of STEP-IN RIGHTS UNDER MATERIAL CONTRACTS Clause in Contracts

STEP-IN RIGHTS UNDER MATERIAL CONTRACTS. ‌ 9.1 Priority of Step-In Rights under Material Contracts‌ Subject to Sections 9.2 and 9.4, notwithstanding any provision in any Material Project Contractor Collateral Agreement, the Authority will not exercise any right it may have pursuant to a Material Project Contractor Collateral Agreement to step-in and assume or otherwise enforce (or cause a third party designated by the Authority to step-in and assume or otherwise enforce) Project Co’s rights and obligations under any of the Material Contracts (including the issuance of a step-in notice by the Authority pursuant to any Material Project Contractor Collateral Agreement), or to transfer or assign a Material Contract, unless: (a) within 60 days of delivery by the relevant Project Contractor to the Authority of a Termination Notice as contemplated in Section 2.1 of the relevant Material Project Contractor Collateral Agreement, the Authority has not received a copy of a step-in notice delivered under the terms of the lenders’ direct agreement in respect of such Material Contract (a “Lenders’ Step-In Notice”); or (b) if (i) within 60 days of delivery by the relevant Project Contractor to the Authority of a Termination Notice as contemplated in Section 2.1 of the relevant Material Project Contractor Collateral Agreement, the Authority has received a copy of a Lenders’ Step-In Notice but (ii) within 105 days of delivery by the relevant Project Contractor to the Authority of a Termination Notice as contemplated in Section 2.1 of the relevant Material Project Contractor Collateral Agreement, the Agent has not completed either a step-in and assumption of Project Co’s rights and obligations under the relevant Material Contract or a transfer or assignment thereof.

STEP-IN RIGHTS UNDER MATERIAL CONTRACTS. ‌ 9.1 Priority of Step-In Rights under Material Contracts‌ Subject to Sections 9.2 and 9.4, notwithstanding any provision in any Material Project Contractor Collateral Agreement, the Authority will not exercise any right it may have pursuant to a Material Project Contractor Collateral Agreement to step-in and assume or otherwise enforce (or cause a third party designated by the Authority to step-in and assume or otherwise enforce) Project Co’s rights and obligations under any of the Material Contracts (including the issuance of a step-in notice by the Authority pursuant to any Material Project Contractor Collateral Agreement), or to transfer or assign a Material Contract, unless: (a) within 60 days of delivery by the relevant Project Contractor to the Authority of a Termination Notice as contemplated in Section 2.1 of the relevant Material Project Contractor Collateral Agreement, the Authority has not received a copy of a step-in notice delivered under the terms of the lenders’ direct agreement in respect of such Material Contract (a “Lenders’ Step-In Notice”); oror‌ (b) if (i) within 60 days of delivery by the relevant Project Contractor to the Authority of a Termination Notice as contemplated in Section 2.1 of the relevant Material Project Contractor Collateral Agreement, the Authority has received a copy of a Lenders’ Step-In Notice Notice, but (ii) within 105 days of delivery by the relevant Project Contractor to the Authority of a Termination Notice as contemplated in Section 2.1 of the relevant Material Project Contractor Collateral Agreement, the Agent has not completed either a step-in and assumption of Project Co’s rights and obligations under the relevant Material Contract or a transfer or assignment thereof.

STEP-IN RIGHTS UNDER MATERIAL CONTRACTS. ‌ 9.1 Priority of Step-In Rights under Material Contracts‌ Subject to Sections 9.2 and 9.4, notwithstanding any provision in any Material Project Contractor Collateral Agreement, the Authority will not exercise any right it may have pursuant to a Material Project Contractor Collateral Agreement to step-in and assume or otherwise enforce (or cause a third party designated by the Authority to step-in and assume or otherwise enforce) Project Co’s rights and obligations under any of the Material Contracts (including the issuance of a step-in notice by the Authority pursuant to any Material Project Contractor Collateral Agreement), or to transfer or assign a Material Contract, unless: (a) within 60 days of delivery by the relevant Project Contractor to the Authority of a Termination Notice as contemplated in Section 2.1 of the relevant Material Project Contractor Collateral Agreement, the Authority has not received a copy of a step-in notice delivered under the terms of the lenders’ direct agreement in respect of such Material Contract (a “Lenders’ Step-In Notice”); or (b) if (i) within 60 days of delivery by the relevant Project Contractor to the Authority of a Termination Notice as contemplated in Section 2.1 of the relevant Material Project Contractor Collateral Agreement, the Authority has received a copy of a Lenders’ Step-In Notice but (ii) within 105 days of delivery by the relevant Project Contractor to the Authority of a Termination Notice as contemplated in Section 2.1 of the relevant Material Project Contractor Collateral Agreement, the Agent Indenture Trustee has not completed either a step-in and assumption of Project Co’s rights and obligations under the relevant Material Contract or a transfer or assignment thereof.