Common use of Summary Description Clause in Contracts

Summary Description. Seller shall construct, own or lease, operate, and maintain the Facility, which shall consist of devices for generating electricity and associated equipment having a Designed Maximum Output of approximately 92 MW which shall qualify as Solar Energy and which shall be located in New Mexico. As of the Execution Date, there are two prospective sites for the Facility, which are identified in Exhibit B. Prior to the Financial Commitment Milestone, Seller shall revise Exhibit B and provide notice to EPE of Seller’s determination, made in its sole discretion, of its final selection of the site for the Facility, such selection to be made from the two sites shown in Exhibit B. Exhibit B to this Agreement provides a detailed description of the Facility, including identification of the major equipment and components that comprise the Facility. The Expected Solar Energy generated from the Facility shall be ****. Seller may, in its sole discretion, but upon notice to EPE no later than ninety (90) Days prior to the Commercial Operation Date, make a one-time adjustment to increase or decrease the Expected Solar Energy generated from the Facility, such adjustment not to exceed **** of the Expected Solar Energy. In order to make this adjustment, Seller must also provide a revised Exhibit B to this Agreement describing the Facility and Site, including any increase or decrease not to exceed **** of the Expected Solar Energy. (A) Sale/Leaseback. Subject to and conditioned upon the prior written consent of EPE, which consent shall not be unreasonably withheld, Seller may sell the Facility to a third party and lease-back and operate the Facility in accordance with the terms of this Agreement, provided that, (i) a copy of the applicable section of any such sale/leaseback agreement is provided to EPE at least thirty (30) Days prior to its execution, and (ii) any such sale and lease-back of the Facility by Seller shall fully preserve EPE’s right to assume the position of the Seller if EPE would have the right to purchase or lease the Facility as provided in Sections 12.12(A) or 14.3 of this Agreement.