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Document Preview Facility Lease Agreement |
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Title: |
Facility Lease Agreement |
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Entities: |
Banc of America Securities LLC; Chase Manhattan Bank; Dynegy Roseton LLC; J.P. Morgan Securities Inc.; Lehman Brothers Inc.; Salomon Smith Barney Inc.; International Brotherhood of Electrical Workers; Dewey Ballantine LLP; Kelley Drye & Warren LLP; Orrick, Herrington & Sutcliffe; Simpson Thacher & Bartlett |
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Date: |
2001 |
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Size: |
Preview shows 8KB of 410KB total |
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Price: |
$99 |
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ID: |
#1329438 |
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Facility Lease Agreement
Dated as of May 8, 2001
between
Roseton OL LLC,
as Owner Lessor
and
Dynegy Roseton, L.L.C.,
as Facility Lessee
______________________________________
Roseton Units 1 and 2
================================================================================
CERTAIN OF THE RIGHT, TITLE AND INTEREST OF THE OWNER LESSOR IN AND TO THIS
LEASE AND THE RENT DUE AND TO BECOME DUE HEREUNDER HAVE BEEN ASSIGNED AS
COLLATERAL SECURITY TO, AND ARE SUBJECT TO A SECURITY INTEREST IN FAVOR OF THE
CHASE MANHATTAN BANK, NOT IN ITS INDIVIDUAL CAPACITY BUT SOLELY AS LEASE
INDENTURE TRUSTEE UNDER AN INDENTURE OF TRUST, MORTGAGE AND SECURITY AGREEMENT,
DATED AS OF MAY 8, 2001, BETWEEN SAID LEASE INDENTURE TRUSTEE, AS SECURED PARTY,
AND THE OWNER LESSOR, AS DEBTOR. SEE SECTION 21 HEREOF FOR INFORMATION
CONCERNING THE RIGHTS OF THE ORIGINAL HOLDER AND THE HOLDERS OF THE VARIOUS
COUNTERPARTS HEREOF.
<PAGE>
TABLE OF CONTENTS
<TABLE>
<CAPTION>
Page
<S> <C>
SECTION 1. DEFINITIONS.......................................................... 1
SECTION 2. LEASE OF THE FACILITY................................................ 1
Section 2.1. Lease......................................................... 1
Section 2.2. Personal Property............................................. 2
SECTION 3. FACILITY LEASE TERM AND RENT......................................... 2
Section 3.1. Basic Lease Term.............................................. 2
Section 3.2. Rent.......................................................... 2
Section 3.3. Supplemental Lease Rent....................................... 3
Section 3.4. Adjustment of Lease Schedules................................. 4
Section 3.5. Manner of Payments............................................ 6
SECTION 4. DISCLAIMER OF WARRANTIES; RIGHT OF QUIET ENJOYMENT................... 7
Section 4.1. Disclaimer of Warranties...................................... 7
Section 4.2. Quiet Enjoyment............................................... 8
SECTION 5. RETURN OF FACILITY................................................... 8
Section 5.1. Return........................................................ 8
Section 5.2. Condition Upon Return......................................... 9
Section 5.3. Environmental Reports; Clean-up............................... 10
SECTION 6. LIENS................................................................ 11
SECTION 7. MAINTENANCE; REPLACEMENTS OF COMPONENTS.............................. 11
Section 7.1. Maintenance................................................... 11
Section 7.2. Replacement of Components..................................... 12
Section 7.3. Compliance with Environmental Laws............................ 12
SECTION 8. MODIFICATIONS........................................................ 13
Section 8.1. Required Modifications........................................ 13
Section 8.2. Optional Modifications........................................ 13
Section 8.3. Title to Modifications........................................ 13
SECTION 9. NET LEASE............................................................ 14
SECTION 10. EVENTS OF LOSS....................................................... 16
Section 10.1. Occurrence of Events of Loss.................................. 16
Section 10.2. Payment of Termination Value; Termination of Periodic Lease
Rent and Renewal Lease Rent................................. 19
</TABLE>
-i-
<PAGE>
TABLE OF CONTENTS
(continued)
<TABLE>
<CAPTION>
Page
<S> <C>
Section 10.3. Rebuild or Replace............................................ 21
Section 10.4. Application of Payments Not Relating to an Event of Loss...... 24
Section 10.5. Certain Conditions to Termination............................. 24
SECTION 11. INSURANCE............................................................ 25
Section 11.1. Property Insurance............................................ 25
Section 11.2. Liability Insurance........................................... 25
Section 11.3. Provisions with Respect to Insurance.......................... 25
Section 11.4. Reports....................................................... 26
Section 11.5. Additional Insurance by Owner Lessor.......................... 26
Section 11.6. Amendment of Requirements..................................... 26
Section 11.7. Application of Insurance Proceeds............................. 28
SECTION 12. INSPECTION........................................................... 28
SECTION 13. TERMINATION OPTION FOR BURDENSOME EVENTS............................. 29
Section 13.1. Election to Terminate......................................... 29
Section 13.2. Solicitation of Offers; Payments Upon Termination............. 30
Section 13.3. Procedure for Exercise of Termination Option.................. 31
Section 13.4. Assumption of the Lessor Notes................................ 32
Section 13.5. Certain Conditions to Termination............................. 32
SECTION 14. TERMINATION FOR OBSOLESCENCE......................................... 33
Section 14.1. Termination................................................... 33
Section 14.2. Solicitation of Offers........................................ 33
Section 14.3. Right of Owner Lessor to Retain Unit.......................... 34
Section 14.4. Procedure for Exercise of Termination Option.................. 35
Section 14.5. Certain Conditions to Termination............................. 37
SECTION 15. LEASE RENEWAL........................................................ 37
Section 15.1. First Wintergreen Renewal Lease Term.......................... 37
Section 15.2. Second Wintergreen Renewal Lease Term......................... 38
Section 15.3. Fair Market Value Renewal Lease Terms......................... 38
Section 15.4. Renewal Lease Rent for the Renewal Lease Terms................ 39
Section 15.5. Determination of Fair Market Rental Value..................... 39
Section 15.6. Termination Value During Renewal Lease Terms.................. 40
</TABLE>
-ii-
<PAGE>
TABLE OF CONTENTS
(continued)
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