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AgdaPkt 2015-03-23 Closed and Joint SA PFA
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AgdaPkt 2015-03-23 Closed and Joint SA PFA
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Last modified
3/24/2015 9:22:13 AM
Creation date
3/19/2015 4:55:14 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
3/23/2015
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8.A. - Page 142 <br /> Schedule 1 <br /> 8. Security Interest <br /> 8.1 The Financing Parties have a first priority perfected security interest in the Facility <br /> or Generating Facilities. Seller and the Financing Parties are intended third party beneficiaries of <br /> Buyer's Agreements in this License. <br /> 9. Generating Facility Personal Property of Seller/Not a Fixture <br /> 9.1 The applicable Facility or Generating Facilities are the personal property of Seller, <br /> and shall not be considered the property(personal or otherwise) of Buyer upon installation of the <br /> applicable Facility or Generating Facilities at the applicable Site. Each applicable Facility is more <br /> particularly described in the Schedule 4 of the Agreement. <br /> 9.2 The applicable Facility or Generating Facilities shall not be considered a fixture of <br /> the applicable Site. Accordingly, Buyer hereby grants Seller and any Financing Party the right to <br /> file any UCC-1 financing statement or fixture filing that confirms its interest in the applicable <br /> Facility or Generating Facilities. <br /> 10. No Interference with Access Rights <br /> 10.1 The term shall commence on the Effective Date and shall terminate upon expiration <br /> of the one-hundred eighty(180) day period provided for in Section 10.5 of the Agreement, which <br /> allows for the removal of the Facility or Generating Facilities("Term"). During the Term, Seller's <br /> access rights are preserved and Buyer shall not interfere with or permit any third party to interfere <br /> with such rights or access. The Access Rights granted hereunder shall be irrevocable during the <br /> Term of this License, except upon expiration or earlier termination of the Agreement regarding a <br /> Facility,in which case it shall only be revocable as it relates to the applicable Facility or Generating <br /> Facilities. <br /> 11. Access Rights Upon Termination <br /> 11.1 Upon any rejection or other termination of this License pursuant to any process <br /> undertaken with respect to Seller under the United States Bankruptcy Code, at the request of any <br /> Financing Party made within ninety(90)days of such termination or rejection,Buyer shall execute <br /> a new grant of access rights in favor of the Financing Parties (or their designees) on substantially <br /> the same terms as this Grant of Access Rights. <br /> 12. Compliance with Laws <br /> 12.1 Seller shall conduct all activities in compliance with all Federal, State and <br /> municipal statutes and ordinances, and with all regulations, orders and directives of appropriate <br /> governmental agencies ("Laws and Regulations"), as such Laws and Regulations exist during the <br /> Term of this License. <br /> Schedule 1 Page 14 <br />
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